Immo-VKH: 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-VKH
Largest movements
- Cash +€59,519
up €59,519 (+129.0%), from €46,156 to €105,675
mainly Depreciation (+€56,384) and Receivables within one year (+€6,050)
- Tangible fixed assets -€56,384
down €56,384 (-2.3%), from €2.4m to €2.4m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€24,377
up €24,377 (+56.7%), from €43,011 to €67,388
- Other operating charges +€12,833
up €12,833 (+1398.9%), from €917 to €13,750
- Depreciation +€5,870
up €5,870 (+11.6%), from €50,514 to €56,384
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 | €2,474,692 | €2,471,777 | -€2,915 | -0.1% |
| Fixed assets | 21/28 | €2,422,486 | €2,366,102 | -€56,384 | -2.3% |
| Tangible fixed assets | 22/27 | €2,422,486 | €2,366,102 | -€56,384 | -2.3% |
| Land and buildings | 22 | €2,422,486 | €2,366,102 | -€56,384 | -2.3% |
| Current assets | 29/58 | €52,206 | €105,675 | +€53,469 | +102.4% |
| Amounts receivable within one year | 40/41 | €6,050 | €0 | -€6,050 | -100.0% |
| Trade receivables | 40 | €6,050 | €0 | -€6,050 | -100.0% |
| Cash at bank and in hand | 54/58 | €46,156 | €105,675 | +€59,519 | +129.0% |
| Total equity and liabilities | 10/49 | €2,474,692 | €2,471,777 | -€2,915 | -0.1% |
| Equity | 10/15 | €2,471,580 | €2,468,834 | -€2,746 | -0.1% |
| Contributions | 10/11 | €2,480,000 | €2,480,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,420 | -€11,166 | -€2,746 | -32.6% |
| Amounts payable | 17/49 | €3,112 | €2,943 | -€169 | -5.4% |
| Amounts payable within one year | 42/48 | €2,961 | €2,943 | -€18 | -0.6% |
| Taxes, remuneration and social security | 45 | €2,961 | €2,943 | -€18 | -0.6% |
| Taxes | 450/3 | €2,961 | €2,943 | -€18 | -0.6% |
| Accrued charges and deferred income | 492/3 | €151 | €0 | -€151 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,514 | €56,384 | +€5,870 | +11.6% |
| Other operating charges | 640/8 | €917 | €13,750 | +€12,833 | +1398.9% |
| Gross operating margin | 9900 | €43,011 | €67,388 | +€24,377 | +56.7% |
| Operating profit (loss) | 9901 | -€8,420 | -€2,746 | +€5,674 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,420 | -€2,746 | +€5,674 | +67.4% |
| Profit (loss) for the period | 9904 | -€8,420 | -€2,746 | +€5,674 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,420 | -€2,746 | +€5,674 | +67.4% |
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.