IMMO VOGELHOEK: 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 VOGELHOEK
Largest movements
- Tangible fixed assets -€7,781
down €7,781 (-2.2%), from €349,873 to €342,092
- Debts after one year -€13,582
down €13,582 (-3.9%), from €346,666 to €333,085
- Current portion of long-term debt +€10,248
up €10,248 (+307%), from €3,334 to €13,582
- Gross operating margin +€19,766
up €19,766, from -€8,198 to €11,567
- Financial charges +€11,700
up €11,700 (+341%), from €3,430 to €15,130
- Depreciation +€7,781
up €7,781 (+377%), from €2,063 to €9,844
- Other operating charges +€1,983
up €1,983 (+4.6%), from €42,762 to €44,746
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 | €352,303 | €343,900 | -€8,403 | -2.4% |
| Fixed assets | 21/28 | €349,873 | €342,092 | -€7,781 | -2.2% |
| Tangible fixed assets | 22/27 | €349,873 | €342,092 | -€7,781 | -2.2% |
| Land and buildings | 22 | €349,873 | €342,092 | -€7,781 | -2.2% |
| Current assets | 29/58 | €2,429 | €1,808 | -€622 | -25.6% |
| Amounts receivable within one year | 40/41 | €1,600 | - | -€1,600 | |
| Trade receivables | 40 | €1,600 | - | -€1,600 | |
| Cash at bank and in hand | 54/58 | €829 | €1,791 | +€962 | +116% |
| Deferred charges and accrued income | 490/1 | - | €17 | +€17 | |
| Total equity and liabilities | 10/49 | €352,303 | €343,900 | -€8,403 | -2.4% |
| Equity | 10/15 | -€55,453 | -€57,152 | -€1,699 | -3.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,453 | -€58,152 | -€1,699 | -3.0% |
| Amounts payable | 17/49 | €407,756 | €401,052 | -€6,704 | -1.6% |
| Amounts payable after more than one year | 17 | €346,666 | €333,085 | -€13,582 | -3.9% |
| Financial debts | 170/4 | €346,666 | €333,085 | -€13,582 | -3.9% |
| Amounts payable within one year | 42/48 | €58,390 | €67,967 | +€9,577 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €3,334 | €13,582 | +€10,248 | +307% |
| Trade debts | 44 | €1,936 | €1,265 | -€671 | -34.6% |
| Suppliers | 440/4 | €1,936 | €1,265 | -€671 | -34.6% |
| Other amounts payable | 47/48 | €53,120 | €53,120 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,700 | - | -€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,063 | €9,844 | +€7,781 | +377% |
| Other operating charges | 640/8 | €42,762 | €44,746 | +€1,983 | +4.6% |
| Gross operating margin | 9900 | -€8,198 | €11,567 | +€19,766 | |
| Operating profit (loss) | 9901 | -€53,024 | -€43,022 | +€10,001 | +18.9% |
| Financial charges | 65/66B | €3,430 | €15,130 | +€11,700 | +341% |
| Recurring financial charges | 65 | €3,430 | €15,130 | +€11,700 | +341% |
| Profit (loss) for the period before taxes | 9903 | -€56,453 | -€58,152 | -€1,699 | -3.0% |
| Profit (loss) for the period | 9904 | -€56,453 | -€58,152 | -€1,699 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,453 | -€58,152 | -€1,699 | -3.0% |
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 24 October 2026 via checked.be.