IMMO VGT: 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 VGT
Largest movements
- Tangible fixed assets -€22,318
down €22,318 (-9.5%), from €235,880 to €213,561
- Receivables within one year +€16,120
up €16,120 (+25.7%), from €62,767 to €78,887
of which Other amounts receivable: +€18,220
- Cash -€3,861
down €3,861 (-77.7%), from €4,968 to €1,107
mainly Receivables within one year (-€16,120) and Debts after one year (-€13,227)
- Debts after one year -€13,227
down €13,227 (-6.6%), from €199,420 to €186,193
- Gross operating margin -€4,758
down €4,758 (-13.8%), from €34,431 to €29,673
- Taxes -€797
down €797 (-50.5%), from €1,577 to €780
- Depreciation -€467
down €467 (-2.0%), from €22,785 to €22,318
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 | €303,811 | €293,753 | -€10,058 | -3.3% |
| Fixed assets | 21/28 | €235,880 | €213,561 | -€22,318 | -9.5% |
| Tangible fixed assets | 22/27 | €235,880 | €213,561 | -€22,318 | -9.5% |
| Land and buildings | 22 | €235,880 | €213,561 | -€22,318 | -9.5% |
| Current assets | 29/58 | €67,931 | €80,191 | +€12,260 | +18.0% |
| Amounts receivable within one year | 40/41 | €62,767 | €78,887 | +€16,120 | +25.7% |
| Trade receivables | 40 | €55,660 | €53,560 | -€2,100 | -3.8% |
| Other amounts receivable | 41 | €7,107 | €25,327 | +€18,220 | +256% |
| Cash at bank and in hand | 54/58 | €4,968 | €1,107 | -€3,861 | -77.7% |
| Deferred charges and accrued income | 490/1 | €196 | €197 | +€1 | +0.7% |
| Total equity and liabilities | 10/49 | €303,811 | €293,753 | -€10,058 | -3.3% |
| Equity | 10/15 | €78,545 | €80,732 | +€2,188 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,085 | €60,272 | +€2,188 | +3.8% |
| Amounts payable | 17/49 | €225,266 | €213,020 | -€12,246 | -5.4% |
| Amounts payable after more than one year | 17 | €199,420 | €186,193 | -€13,227 | -6.6% |
| Financial debts | 170/4 | €199,420 | €186,193 | -€13,227 | -6.6% |
| Amounts payable within one year | 42/48 | €25,847 | €26,828 | +€981 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €13,000 | €13,227 | +€227 | +1.7% |
| Trade debts | 44 | €709 | €2,047 | +€1,338 | +189% |
| Suppliers | 440/4 | €709 | €2,047 | +€1,338 | +189% |
| Taxes, remuneration and social security | 45 | €3,975 | €1,600 | -€2,375 | -59.7% |
| Taxes | 450/3 | €1,590 | €1,600 | +€10 | +0.6% |
| Remuneration and social security | 454/9 | €2,385 | - | -€2,385 | |
| Other amounts payable | 47/48 | €8,162 | €9,953 | +€1,791 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,785 | €22,318 | -€467 | -2.0% |
| Other operating charges | 640/8 | €623 | €640 | +€16 | +2.6% |
| Gross operating margin | 9900 | €34,431 | €29,673 | -€4,758 | -13.8% |
| Operating profit (loss) | 9901 | €11,023 | €6,715 | -€4,308 | -39.1% |
| Financial charges | 65/66B | €4,025 | €3,747 | -€278 | -6.9% |
| Recurring financial charges | 65 | €4,025 | €3,747 | -€278 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €6,998 | €2,968 | -€4,030 | -57.6% |
| Income taxes | 67/77 | €1,577 | €780 | -€797 | -50.5% |
| Profit (loss) for the period | 9904 | €5,421 | €2,188 | -€3,234 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,421 | €2,188 | -€3,234 | -59.6% |
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 22 October 2026 via checked.be.