Immo VOG: 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 VOG
Largest movements
- Tangible fixed assets -€28,167
down €28,167 (-3.5%), from €798,540 to €770,373
- Cash +€15,706
up €15,706 (+58.5%), from €26,869 to €42,575
mainly Depreciation (+€28,167) and Net result for the year (+€21,158)
- Debts after one year -€41,910
down €41,910 (-6.4%), from €658,012 to €616,102
of which Financial debts: -€41,910
- Reserves +€21,158
up €21,158 (+46.2%), from €45,753 to €66,911
- Gross operating margin +€3,289
up €3,289 (+4.1%), from €79,964 to €83,253
- Taxes +€1,501
up €1,501 (+17.9%), from €8,373 to €9,874
- Financial charges -€1,013
down €1,013 (-5.2%), from €19,569 to €18,556
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 | €825,410 | €812,948 | -€12,461 | -1.5% |
| Fixed assets | 21/28 | €798,540 | €770,373 | -€28,167 | -3.5% |
| Tangible fixed assets | 22/27 | €798,540 | €770,373 | -€28,167 | -3.5% |
| Land and buildings | 22 | €798,540 | €770,373 | -€28,167 | -3.5% |
| Current assets | 29/58 | €26,869 | €42,575 | +€15,706 | +58.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €26,869 | €42,575 | +€15,706 | +58.5% |
| Total equity and liabilities | 10/49 | €825,410 | €812,948 | -€12,461 | -1.5% |
| Equity | 10/15 | €110,753 | €131,911 | +€21,158 | +19.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €45,753 | €66,911 | +€21,158 | +46.2% |
| Distributable reserves | 133 | €45,753 | €66,911 | +€21,158 | +46.2% |
| Amounts payable | 17/49 | €714,657 | €681,037 | -€33,620 | -4.7% |
| Amounts payable after more than one year | 17 | €658,012 | €616,102 | -€41,910 | -6.4% |
| Financial debts | 170/4 | €417,512 | €375,602 | -€41,910 | -10.0% |
| Other amounts payable | 178/9 | €240,500 | €240,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €45,079 | €53,372 | +€8,294 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €40,881 | €41,910 | +€1,030 | +2.5% |
| Trade debts | 44 | €585 | €0 | -€585 | -100.0% |
| Suppliers | 440/4 | €585 | €0 | -€585 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,613 | €4,247 | +€634 | +17.6% |
| Taxes | 450/3 | €3,613 | €4,247 | +€634 | +17.6% |
| Other amounts payable | 47/48 | - | €7,215 | +€7,215 | |
| Accrued charges and deferred income | 492/3 | €11,566 | €11,563 | -€3 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,167 | €28,167 | = | 0.0% |
| Other operating charges | 640/8 | €5,912 | €5,497 | -€415 | -7.0% |
| Gross operating margin | 9900 | €79,964 | €83,253 | +€3,289 | +4.1% |
| Operating profit (loss) | 9901 | €45,884 | €49,588 | +€3,704 | +8.1% |
| Financial charges | 65/66B | €19,569 | €18,556 | -€1,013 | -5.2% |
| Recurring financial charges | 65 | €19,569 | €18,556 | -€1,013 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €26,315 | €31,032 | +€4,717 | +17.9% |
| Income taxes | 67/77 | €8,373 | €9,874 | +€1,501 | +17.9% |
| Profit (loss) for the period | 9904 | €17,942 | €21,158 | +€3,216 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,942 | €21,158 | +€3,216 | +17.9% |
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 5 October 2026 via checked.be.