Immo VF: 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 VF
Largest movements
- Tangible fixed assets -€32,064
down €32,064 (-1.9%), from €1.7m to €1.6m
of which Land and buildings: -€31,968
- Debts after one year -€328,199
down €328,199 (-49.4%), from €664,714 to €336,516
- Reserves +€277,106
up €277,106 (+93.4%), from €296,573 to €573,678
- Profit (loss) carried forward +€236,908
up €236,908 (+423.4%), from €55,955 to €292,863
- Tax, wage and social debts -€153,465
down €153,465 (-81.0%), from €189,458 to €35,993
of which Taxes: -€153,501
- Current portion of long-term debt -€65,403
down €65,403 (-56.6%), from €115,452 to €50,048
- Gross operating margin +€379,649
up €379,649 (+69.5%), from €546,604 to €926,253
- Taxes +€98,936
up €98,936 (+83.8%), from €118,031 to €216,968
- Financial charges -€15,297
down €15,297 (-28.2%), from €54,316 to €39,019
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 | €1,923,611 | €1,885,095 | -€38,515 | -2.0% |
| Fixed assets | 21/28 | €1,673,048 | €1,640,984 | -€32,064 | -1.9% |
| Tangible fixed assets | 22/27 | €1,673,048 | €1,640,984 | -€32,064 | -1.9% |
| Land and buildings | 22 | €1,090,795 | €1,058,827 | -€31,968 | -2.9% |
| Furniture and vehicles | 24 | €51,703 | €28,055 | -€23,648 | -45.7% |
| Other tangible fixed assets | 26 | €530,551 | €554,103 | +€23,552 | +4.4% |
| Current assets | 29/58 | €250,562 | €244,111 | -€6,451 | -2.6% |
| Amounts receivable within one year | 40/41 | €0 | €74 | +€74 | |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €0 | €74 | +€74 | |
| Cash at bank and in hand | 54/58 | €241,360 | €234,751 | -€6,609 | -2.7% |
| Deferred charges and accrued income | 490/1 | €9,202 | €9,286 | +€83 | +0.9% |
| Total equity and liabilities | 10/49 | €1,923,611 | €1,885,095 | -€38,515 | -2.0% |
| Equity | 10/15 | €892,528 | €1,406,541 | +€514,013 | +57.6% |
| Contributions | 10/11 | €540,000 | €540,000 | = | 0.0% |
| Reserves | 13 | €296,573 | €573,678 | +€277,106 | +93.4% |
| Distributable reserves | 133 | €296,573 | €573,678 | +€277,106 | +93.4% |
| Profit (loss) carried forward | 14 | €55,955 | €292,863 | +€236,908 | +423.4% |
| Amounts payable | 17/49 | €1,031,082 | €478,554 | -€552,529 | -53.6% |
| Amounts payable after more than one year | 17 | €664,714 | €336,516 | -€328,199 | -49.4% |
| Financial debts | 170/4 | €664,714 | €336,516 | -€328,199 | -49.4% |
| Amounts payable within one year | 42/48 | €330,975 | €140,561 | -€190,414 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €115,452 | €50,048 | -€65,403 | -56.6% |
| Trade debts | 44 | €6,353 | €7,470 | +€1,117 | +17.6% |
| Suppliers | 440/4 | €6,353 | €7,470 | +€1,117 | +17.6% |
| Taxes, remuneration and social security | 45 | €189,458 | €35,993 | -€153,465 | -81.0% |
| Taxes | 450/3 | €186,299 | €32,799 | -€153,501 | -82.4% |
| Remuneration and social security | 454/9 | €3,159 | €3,195 | +€36 | +1.1% |
| Other amounts payable | 47/48 | €19,712 | €47,048 | +€27,337 | +138.7% |
| Accrued charges and deferred income | 492/3 | €35,393 | €1,478 | -€33,916 | -95.8% |
| Remuneration, social security and pensions | 62 | €33,400 | €34,818 | +€1,418 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,555 | €92,321 | +€1,766 | +2.0% |
| Other operating charges | 640/8 | €6,566 | €6,927 | +€362 | +5.5% |
| Gross operating margin | 9900 | €546,604 | €926,253 | +€379,649 | +69.5% |
| Operating profit (loss) | 9901 | €416,083 | €792,186 | +€376,103 | +90.4% |
| Financial income | 75/76B | €224 | €708 | +€485 | +216.7% |
| Recurring financial income | 75 | €224 | €708 | +€485 | +216.7% |
| Financial charges | 65/66B | €54,316 | €39,019 | -€15,297 | -28.2% |
| Recurring financial charges | 65 | €54,316 | €39,019 | -€15,297 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €361,990 | €753,875 | +€391,885 | +108.3% |
| Income taxes | 67/77 | €118,031 | €216,968 | +€98,936 | +83.8% |
| Profit (loss) for the period | 9904 | €243,959 | €536,908 | +€292,949 | +120.1% |
| Profit (loss) for the period to be appropriated | 9905 | €243,959 | €536,908 | +€292,949 | +120.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.