IMMO VERSCHEURE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IMMO VERSCHEURE
Largest movements
- Cash -€109,583
down €109,583 (-92.1%), from €118,994 to €9,411
mainly Debts after one year (-€110,710) and Investment in fixed assets (net) (-€58,466)
- Deferred charges and accrued income -€76,242
down €76,242 (-100.0%), from €76,242 to €0
- Tangible fixed assets +€55,400
up €55,400 (+6.0%), from €925,536 to €980,937
- Receivables after one year -€45,813
down €45,813 (-22.0%), from €208,615 to €162,802
- Debts after one year -€110,710
down €110,710 (-22.4%), from €493,553 to €382,844
- Other debts -€37,822
down €37,822 (-14.3%), from €264,101 to €226,279
- Tax, wage and social debts -€21,014
down €21,014 (-94.8%), from €22,176 to €1,161
- Financial charges -€3,595
down €3,595 (-12.6%), from €28,498 to €24,903
- Depreciation -€1,224
down €1,224 (-28.5%), from €4,290 to €3,065
- Other operating charges +€839
up €839 (+5.4%), from €15,424 to €16,263
- Financial income -€791
down €791 (-16.1%), from €4,926 to €4,135
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,385,655 | €1,208,242 | -€177,414 | -12.8% |
| Fixed assets | 21/28 | €926,796 | €982,197 | +€55,400 | +6.0% |
| Tangible fixed assets | 22/27 | €925,536 | €980,937 | +€55,400 | +6.0% |
| Land and buildings | 22 | €925,536 | €980,937 | +€55,400 | +6.0% |
| Financial fixed assets | 28 | €1,260 | €1,260 | = | 0.0% |
| Current assets | 29/58 | €458,859 | €226,045 | -€232,814 | -50.7% |
| Amounts receivable after more than one year | 29 | €208,615 | €162,802 | -€45,813 | -22.0% |
| Other amounts receivable | 291 | €208,615 | €162,802 | -€45,813 | -22.0% |
| Amounts receivable within one year | 40/41 | €55,008 | €53,833 | -€1,175 | -2.1% |
| Other amounts receivable | 41 | €55,008 | €53,833 | -€1,175 | -2.1% |
| Cash at bank and in hand | 54/58 | €118,994 | €9,411 | -€109,583 | -92.1% |
| Deferred charges and accrued income | 490/1 | €76,242 | €0 | -€76,242 | -100.0% |
| Total equity and liabilities | 10/49 | €1,385,655 | €1,208,242 | -€177,414 | -12.8% |
| Equity | 10/15 | €470,237 | €462,500 | -€7,738 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €451,637 | €443,900 | -€7,738 | -1.7% |
| Tax-exempt reserves | 132 | €17,816 | €17,816 | = | 0.0% |
| Distributable reserves | 133 | €433,821 | €426,084 | -€7,738 | -1.8% |
| Amounts payable | 17/49 | €915,418 | €745,742 | -€169,676 | -18.5% |
| Amounts payable after more than one year | 17 | €493,553 | €382,844 | -€110,710 | -22.4% |
| Financial debts | 170/4 | €493,553 | €382,844 | -€110,710 | -22.4% |
| Amounts payable within one year | 42/48 | €404,849 | €347,729 | -€57,120 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €109,948 | €110,710 | +€762 | +0.7% |
| Trade debts | 44 | €8,625 | €9,580 | +€955 | +11.1% |
| Suppliers | 440/4 | €8,625 | €9,580 | +€955 | +11.1% |
| Taxes, remuneration and social security | 45 | €22,176 | €1,161 | -€21,014 | -94.8% |
| Taxes | 450/3 | €22,176 | €1,161 | -€21,014 | -94.8% |
| Other amounts payable | 47/48 | €264,101 | €226,279 | -€37,822 | -14.3% |
| Accrued charges and deferred income | 492/3 | €17,015 | €15,169 | -€1,846 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,290 | €3,065 | -€1,224 | -28.5% |
| Other operating charges | 640/8 | €15,424 | €16,263 | +€839 | +5.4% |
| Non-recurring operating charges | 66A | €113,858 | €0 | -€113,858 | -100.0% |
| Gross operating margin | 9900 | €32,666 | €32,359 | -€307 | -0.9% |
| Operating profit (loss) | 9901 | -€100,906 | €13,030 | +€113,936 | |
| Financial income | 75/76B | €4,926 | €4,135 | -€791 | -16.1% |
| Recurring financial income | 75 | €4,926 | €4,135 | -€791 | -16.1% |
| Financial charges | 65/66B | €28,498 | €24,903 | -€3,595 | -12.6% |
| Recurring financial charges | 65 | €28,498 | €24,903 | -€3,595 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€124,478 | -€7,738 | +€116,741 | +93.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€124,478 | -€7,738 | +€116,741 | +93.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,478 | -€7,738 | +€116,741 | +93.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.