IMMO VOET: 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 VOET
Largest movements
- Tangible fixed assets +€2.3m
up €2.3m (+117%), from €2.0m to €4.3m
of which Land and buildings: +€2.1m
- Cash -€202,320
down €202,320 (-57.1%), from €354,179 to €151,859
mainly Investment in fixed assets (net) (-€2.3m) and Debts after one year (-€96,453)
- Revaluation surpluses +€2.1m
new in 2025: €2.1m
- Profit (loss) carried forward +€156,943
up €156,943 (+34.9%), from €450,154 to €607,096
- Debts after one year -€96,453
down €96,453 (-6.7%), from €1.4m to €1.3m
- Gross operating margin -€8,947
down €8,947 (-3.2%), from €277,543 to €268,595
- Financial charges -€3,012
down €3,012 (-5.8%), from €51,674 to €48,661
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 | €2,323,325 | €4,453,653 | +€2.1m | +91.7% |
| Fixed assets | 21/28 | €1,965,157 | €4,267,220 | +€2.3m | +117% |
| Tangible fixed assets | 22/27 | €1,965,157 | €4,267,220 | +€2.3m | +117% |
| Land and buildings | 22 | €1,694,344 | €3,772,721 | +€2.1m | +123% |
| Assets under construction and advance payments | 27 | €270,813 | €494,500 | +€223,686 | +82.6% |
| Current assets | 29/58 | €358,168 | €186,433 | -€171,735 | -47.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €3,989 | €7,279 | +€3,290 | +82.5% |
| Trade receivables | 40 | €0 | €2,466 | +€2,466 | |
| Other amounts receivable | 41 | €3,989 | €4,813 | +€824 | +20.7% |
| Cash at bank and in hand | 54/58 | €354,179 | €151,859 | -€202,320 | -57.1% |
| Deferred charges and accrued income | 490/1 | €0 | €27,295 | +€27,295 | |
| Total equity and liabilities | 10/49 | €2,323,325 | €4,453,653 | +€2.1m | +91.7% |
| Equity | 10/15 | €705,941 | €2,941,260 | +€2.2m | +317% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,078,377 | +€2.1m | |
| Reserves | 13 | €189,787 | €189,787 | = | 0.0% |
| Distributable reserves | 133 | €189,787 | €189,787 | = | 0.0% |
| Profit (loss) carried forward | 14 | €450,154 | €607,096 | +€156,943 | +34.9% |
| Amounts payable | 17/49 | €1,617,385 | €1,512,393 | -€104,991 | -6.5% |
| Amounts payable after more than one year | 17 | €1,430,505 | €1,334,053 | -€96,453 | -6.7% |
| Financial debts | 170/4 | €1,430,505 | €1,334,053 | -€96,453 | -6.7% |
| Amounts payable within one year | 42/48 | €186,879 | €178,341 | -€8,539 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €93,340 | €96,453 | +€3,113 | +3.3% |
| Trade debts | 44 | €7,091 | €2,723 | -€4,369 | -61.6% |
| Suppliers | 440/4 | €7,091 | €2,723 | -€4,369 | -61.6% |
| Taxes, remuneration and social security | 45 | €11,448 | €4,165 | -€7,283 | -63.6% |
| Taxes | 450/3 | €11,448 | €4,165 | -€7,283 | -63.6% |
| Other amounts payable | 47/48 | €75,000 | €75,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €9,208 | €10,362 | +€1,154 | +12.5% |
| Gross operating margin | 9900 | €277,543 | €268,595 | -€8,947 | -3.2% |
| Operating profit (loss) | 9901 | €268,335 | €258,233 | -€10,102 | -3.8% |
| Financial charges | 65/66B | €51,674 | €48,661 | -€3,012 | -5.8% |
| Recurring financial charges | 65 | €51,674 | €48,661 | -€3,012 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €216,661 | €209,572 | -€7,089 | -3.3% |
| Income taxes | 67/77 | €54,165 | €52,630 | -€1,536 | -2.8% |
| Profit (loss) for the period | 9904 | €162,496 | €156,943 | -€5,553 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €162,496 | €156,943 | -€5,553 | -3.4% |
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.