IMMO VLASSENROOT: 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.
What changed
IMMO VLASSENROOT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€529,813
2024 · €1.5m-€925,477
Equity
€14.7m
2024 · €14.2m+€530,241
Cash
€240,989
2024 · €126,579+€114,410
Balance sheet total
€26.7m
2024 · €24.1m+€2.6m
Largest movements
Assets
- Receivables after one year +€1.3m
up €1.3m (+105%), from €1.3m to €2.6m
- Tangible fixed assets +€918,119
up €918,119 (+9.7%), from €9.4m to €10.4m
of which Land and buildings: +€960,629
- Receivables within one year +€267,863
up €267,863 (+65.8%), from €406,902 to €674,765
of which Other amounts receivable: +€174,328
Equity and liabilities
- Debts after one year +€2.0m
up €2.0m (+31.7%), from €6.3m to €8.3m
of which Financial debts: +€1.7m
- Profit (loss) carried forward +€641,089
up €641,089 (+21.1%), from €3.0m to €3.7m
Income statement
- Financial income -€431,226
down €431,226 (-60.5%), from €712,581 to €281,355
- Services and other goods -€197,053
down €197,053 (-15.4%), from €1.3m to €1.1m
- Turnover -€192,034
down €192,034 (-8.5%), from €2.3m to €2.1m
- Other operating income +€101,873
new in 2025: €101,873
- Taxes +€76,838
up €76,838 (+92.1%), from €83,411 to €160,249
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.
Result 2024
€1.5m
Turnover
-€192,034
Other operating income
+€101,873
Services and other goods
+€197,053
Staff costs
-€570
Depreciation
+€52,721
Write-downs
+€776
Other operating charges
-€10,320
Other operating items
-€770,262
Financial income
-€431,226
Financial charges
+€17,167
Taxes
-€76,838
Deferred taxes and other
+€186,183
Result 2025
€529,813
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€693,707
Investment
-€1.4m
Financing
+€2.2m
Cash 2024
€126,579
From operations (derived)
-€693,707
Net result for the year
+€529,813
Depreciation
+€507,894
Receivables after one year
-€1.3m
Receivables within one year
-€267,863
Deferred charges and accrued income
-€3,506
Provisions
-€41,636
Trade debts
+€9,591
Tax, wage and social debts
-€28,156
Other debts
-€188,156
Accrued charges and deferred income
+€127,629
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€2.2m
Debts after one year
+€2.0m
Current portion of long-term debt
+€246,960
Contributions, distributions and other
+€427
Not broken down
+€1
Cash 2025
€240,989
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,073,613 | €26,716,829 | +€2.6m | +11.0% |
| Fixed assets | 21/28 | €22,225,732 | €23,143,852 | +€918,120 | +4.1% |
| Tangible fixed assets | 22/27 | €9,449,332 | €10,367,451 | +€918,119 | +9.7% |
| Land and buildings | 22 | €9,242,912 | €10,203,541 | +€960,629 | +10.4% |
| Plant, machinery and equipment | 23 | €9,709 | €5,982 | -€3,727 | -38.4% |
| Furniture and vehicles | 24 | €616 | €308 | -€308 | -50.0% |
| Leasing and similar rights | 25 | - | €39,272 | +€39,272 | |
| Other tangible fixed assets | 26 | €3,388 | €3,388 | = | 0.0% |
| Assets under construction and advance payments | 27 | €192,707 | €114,960 | -€77,747 | -40.3% |
| Financial fixed assets | 28 | €12,776,400 | €12,776,400 | -€0 | 0.0% |
| Affiliated companies | 280/1 | €11,249,732 | €11,249,732 | -€0 | 0.0% |
| Participating interests | 280 | €11,249,732 | €11,249,732 | -€0 | 0.0% |
| Companies linked by participating interests | 282/3 | €1,526,668 | €1,526,668 | -€0 | 0.0% |
| Participating interests | 282 | €1,526,668 | €1,526,668 | -€0 | 0.0% |
| Current assets | 29/58 | €1,847,881 | €3,572,977 | +€1.7m | +93.4% |
| Amounts receivable after more than one year | 29 | €1,276,012 | €2,615,329 | +€1.3m | +105% |
| Other amounts receivable | 291 | €1,276,012 | €2,615,329 | +€1.3m | +105% |
| Amounts receivable within one year | 40/41 | €406,902 | €674,765 | +€267,863 | +65.8% |
| Trade receivables | 40 | €372,592 | €466,128 | +€93,536 | +25.1% |
| Other amounts receivable | 41 | €34,310 | €208,638 | +€174,328 | +508% |
| Cash at bank and in hand | 54/58 | €126,579 | €240,989 | +€114,410 | +90.4% |
| Deferred charges and accrued income | 490/1 | €38,388 | €41,894 | +€3,506 | +9.1% |
| Total equity and liabilities | 10/49 | €24,073,613 | €26,716,829 | +€2.6m | +11.0% |
| Equity | 10/15 | €14,211,195 | €14,741,436 | +€530,241 | +3.7% |
| Contributions | 10/11 | €3,400,000 | €3,400,000 | = | 0.0% |
| Capital | 10 | €3,400,000 | €3,400,000 | = | 0.0% |
| Issued capital | 100 | €3,400,000 | €3,400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €5,385,155 | €5,385,155 | -€0 | 0.0% |
| Reserves | 13 | €2,368,395 | €2,257,119 | -€111,276 | -4.7% |
| Non-distributable reserves | 130/1 | €325,942 | €340,000 | +€14,058 | +4.3% |
| Legal reserve | 130 | €325,942 | €340,000 | +€14,058 | +4.3% |
| Tax-exempt reserves | 132 | €1,875,952 | €1,750,619 | -€125,333 | -6.7% |
| Distributable reserves | 133 | €166,500 | €166,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,033,656 | €3,674,745 | +€641,089 | +21.1% |
| Investment grants | 15 | €23,989 | €24,416 | +€427 | +1.8% |
| Provisions and deferred taxes | 16 | €633,314 | €591,678 | -€41,636 | -6.6% |
| Deferred taxes | 168 | €633,314 | €591,678 | -€41,636 | -6.6% |
| Amounts payable | 17/49 | €9,229,104 | €11,383,714 | +€2.2m | +23.3% |
| Amounts payable after more than one year | 17 | €6,270,193 | €8,256,935 | +€2.0m | +31.7% |
| Financial debts | 170/4 | €5,314,685 | €7,062,487 | +€1.7m | +32.9% |
| Leasing and similar obligations | 172 | - | €31,314 | +€31,314 | |
| Credit institutions | 173 | €5,314,685 | €7,031,173 | +€1.7m | +32.3% |
| Other amounts payable | 178/9 | €955,508 | €1,194,448 | +€238,940 | +25.0% |
| Amounts payable within one year | 42/48 | €2,905,251 | €2,945,490 | +€40,239 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €713,209 | €960,169 | +€246,960 | +34.6% |
| Trade debts | 44 | €1,202,765 | €1,212,356 | +€9,591 | +0.8% |
| Suppliers | 440/4 | €1,202,765 | €1,212,356 | +€9,591 | +0.8% |
| Taxes, remuneration and social security | 45 | €188,405 | €160,249 | -€28,156 | -14.9% |
| Taxes | 450/3 | €188,405 | €160,249 | -€28,156 | -14.9% |
| Other amounts payable | 47/48 | €800,872 | €612,716 | -€188,156 | -23.5% |
| Accrued charges and deferred income | 492/3 | €53,660 | €181,289 | +€127,629 | +238% |
| Operating income | 70/76A | €3,268,040 | €2,407,617 | -€860,423 | -26.3% |
| Turnover | 70 | €2,256,385 | €2,064,351 | -€192,034 | -8.5% |
| Other operating income | 74 | - | €101,873 | +€101,873 | |
| Non-recurring operating income | 76A | €1,011,655 | €241,392 | -€770,263 | -76.1% |
| Operating charges | 60/66A | €2,036,556 | €1,796,896 | -€239,660 | -11.8% |
| Services and other goods | 61 | €1,277,615 | €1,080,562 | -€197,053 | -15.4% |
| Remuneration, social security and pensions | 62 | -€278 | €292 | +€570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560,615 | €507,894 | -€52,721 | -9.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €776 | - | -€776 | |
| Other operating charges | 640/8 | €197,828 | €208,148 | +€10,320 | +5.2% |
| Operating profit (loss) | 9901 | €1,231,483 | €610,721 | -€620,762 | -50.4% |
| Financial income | 75/76B | €712,581 | €281,355 | -€431,226 | -60.5% |
| Recurring financial income | 75 | €712,581 | €281,355 | -€431,226 | -60.5% |
| Income from financial fixed assets | 750 | €694,000 | €250,000 | -€444,000 | -64.0% |
| Income from current assets | 751 | €15,819 | €28,606 | +€12,787 | +80.8% |
| Other financial income | 752/9 | €2,763 | €2,748 | -€15 | -0.5% |
| Financial charges | 65/66B | €261,856 | €244,689 | -€17,167 | -6.6% |
| Recurring financial charges | 65 | €261,856 | €244,689 | -€17,167 | -6.6% |
| Debt charges | 650 | €255,713 | €232,201 | -€23,512 | -9.2% |
| Other financial charges | 652/9 | €6,142 | €12,488 | +€6,346 | +103% |
| Profit (loss) for the period before taxes | 9903 | €1,682,209 | €647,387 | -€1.0m | -61.5% |
| Transfer from deferred taxes | 780 | €41,547 | €42,675 | +€1,128 | +2.7% |
| Transfer to deferred taxes | 680 | €185,055 | - | -€185,055 | |
| Income taxes | 67/77 | €83,411 | €160,249 | +€76,838 | +92.1% |
| Taxes | 670/3 | €83,411 | €160,249 | +€76,838 | +92.1% |
| Profit (loss) for the period | 9904 | €1,455,290 | €529,813 | -€925,477 | -63.6% |
| Transfer from tax-exempt reserves | 789 | €122,550 | €125,333 | +€2,783 | +2.3% |
| Transfer to tax-exempt reserves | 689 | €555,164 | - | -€555,164 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,022,676 | €655,147 | -€367,529 | -35.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.