IMMO VERTOMMEN: what changed
Two financial 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 VERTOMMEN
Largest movements
- Cash +€150,440
up €150,440 (+316%), from €47,654 to €198,094
mainly Receivables within one year (+€134,173) and Tax, wage and social debts (+€32,413)
- Receivables within one year -€134,173
down €134,173 (-71.1%), from €188,673 to €54,500
of which Trade receivables: -€112,575
- Tangible fixed assets -€2,741
down €2,741 (-87.3%), from €3,140 to €399
- Trade debts -€44,927
down €44,927 (-19.1%), from €235,158 to €190,231
- Tax, wage and social debts +€32,413
up €32,413 (+329%), from €9,849 to €42,262
of which Taxes: +€28,796
- Profit (loss) carried forward +€15,221
no longer reported in 2025 (was -€15,221)
- Reserves +€10,448
up €10,448 (+181%), from €5,772 to €16,220
of which Distributable reserves: +€16,220
- Gross operating margin +€14,279
up €14,279 (+23.2%), from €61,649 to €75,928
- Taxes +€8,457
up €8,457 (+260%), from €3,252 to €11,709
- Staff costs +€4,263
up €4,263 (+13.9%), from €30,751 to €35,014
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.
Derived cash bridge
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 | €242,448 | €255,603 | +€13,155 | +5.4% |
| Fixed assets | 21/28 | €5,925 | €2,797 | -€3,128 | -52.8% |
| Intangible fixed assets | 21 | €1,885 | €1,498 | -€387 | -20.5% |
| Tangible fixed assets | 22/27 | €3,140 | €399 | -€2,741 | -87.3% |
| Plant, machinery and equipment | 23 | €3,140 | €399 | -€2,741 | -87.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €236,523 | €252,806 | +€16,284 | +6.9% |
| Amounts receivable within one year | 40/41 | €188,673 | €54,500 | -€134,173 | -71.1% |
| Trade receivables | 40 | €163,447 | €50,872 | -€112,575 | -68.9% |
| Other amounts receivable | 41 | €25,226 | €3,628 | -€21,598 | -85.6% |
| Cash at bank and in hand | 54/58 | €47,654 | €198,094 | +€150,440 | +316% |
| Deferred charges and accrued income | 490/1 | €196 | €213 | +€17 | +8.5% |
| Total equity and liabilities | 10/49 | €242,448 | €255,603 | +€13,155 | +5.4% |
| Equity | 10/15 | -€3,248 | €22,420 | +€25,669 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,772 | €16,220 | +€10,448 | +181% |
| Tax-exempt reserves | 132 | €5,772 | - | -€5,772 | |
| Distributable reserves | 133 | - | €16,220 | +€16,220 | |
| Profit (loss) carried forward | 14 | -€15,221 | - | +€15,221 | |
| Amounts payable | 17/49 | €245,696 | €233,183 | -€12,513 | -5.1% |
| Amounts payable within one year | 42/48 | €245,696 | €233,183 | -€12,513 | -5.1% |
| Trade debts | 44 | €235,158 | €190,231 | -€44,927 | -19.1% |
| Suppliers | 440/4 | €235,158 | €190,231 | -€44,927 | -19.1% |
| Taxes, remuneration and social security | 45 | €9,849 | €42,262 | +€32,413 | +329% |
| Taxes | 450/3 | €3,252 | €32,047 | +€28,796 | +886% |
| Remuneration and social security | 454/9 | €6,597 | €10,215 | +€3,618 | +54.8% |
| Other amounts payable | 47/48 | €689 | €689 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €30,751 | €35,014 | +€4,263 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,685 | €3,128 | -€557 | -15.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €61,649 | €75,928 | +€14,279 | +23.2% |
| Operating profit (loss) | 9901 | €26,826 | €37,386 | +€10,560 | +39.4% |
| Financial income | 75/76B | €936 | €191 | -€746 | -79.6% |
| Recurring financial income | 75 | €936 | €191 | -€746 | -79.6% |
| Financial charges | 65/66B | €196 | €199 | +€4 | +1.8% |
| Recurring financial charges | 65 | €196 | €199 | +€4 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €27,566 | €37,377 | +€9,811 | +35.6% |
| Income taxes | 67/77 | €3,252 | €11,709 | +€8,457 | +260% |
| Profit (loss) for the period | 9904 | €24,315 | €25,669 | +€1,354 | +5.6% |
| Transfer from tax-exempt reserves | 789 | - | €5,772 | +€5,772 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,315 | €31,441 | +€7,126 | +29.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.