IMMO VOORTBEMDEN: 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 VOORTBEMDEN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€47,446
2024 · -€56,872+€104,318
Equity
-€439,562
2024 · -€487,008+€47,446
Cash
€2,107
2024 · €162,797-€160,690
Balance sheet total
€1.9m
2024 · €2.2m-€264,210
Largest movements
Assets
- Cash -€160,690
down €160,690 (-98.7%), from €162,797 to €2,107
mainly Other debts (-€234,395) and Debts after one year (-€128,280)
- Receivables within one year -€40,633
down €40,633 (-7.4%), from €549,731 to €509,098
of which Other amounts receivable: -€50,604
- Tangible fixed assets -€28,784
down €28,784 (-2.3%), from €1.2m to €1.2m
of which Furniture and vehicles: -€18,913
Equity and liabilities
- Other debts -€234,395
down €234,395 (-31.2%), from €752,132 to €517,736
- Debts after one year -€128,280
down €128,280 (-7.8%), from €1.6m to €1.5m
- Profit (loss) carried forward +€47,446
up €47,446 (+2.4%), from -€2.0m to -€1.9m
- Trade debts +€30,953
up €30,953 (+1,213%), from €2,552 to €33,505
Income statement
- Gross operating margin -€122,078
down €122,078 (-39.1%), from €312,497 to €190,419
- Financial charges -€25,993
down €25,993 (-39.6%), from €65,561 to €39,568
- Depreciation -€10,504
down €10,504 (-28.2%), from €37,279 to €26,775
- Write-downs +€8,654
new in 2025: €8,654
- Taxes +€4,421
up €4,421 (+1,142%), from €387 to €4,808
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
-€56,872
Gross operating margin
-€122,078
Depreciation
+€10,504
Write-downs
-€8,654
Other operating charges
+€3,134
Other operating items
+€199,840
Financial charges
+€25,993
Taxes
-€4,421
Result 2025
€47,446
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
-€61,572
Investment
+€21,113
Financing
-€120,230
Cash 2024
€162,797
From operations (derived)
-€61,572
Net result for the year
+€47,446
Depreciation
+€26,775
Stocks and contracts
+€15,000
Receivables within one year
+€40,633
Trade debts
+€30,953
Tax, wage and social debts
+€12,231
Other debts
-€234,395
Accrued charges and deferred income
-€214
Investment (derived)
+€21,113
Investment in fixed assets (net)
+€18,913
Current investments
+€2,200
Financing
-€120,230
Debts after one year
-€128,280
Current portion of long-term debt
+€3,679
Short-term financial debts
+€4,371
Cash 2025
€2,107
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,154,679 | €1,890,469 | -€264,210 | -12.3% |
| Fixed assets | 21/28 | €1,424,952 | €1,379,264 | -€45,688 | -3.2% |
| Intangible fixed assets | 21 | €186,636 | €169,731 | -€16,904 | -9.1% |
| Tangible fixed assets | 22/27 | €1,235,196 | €1,206,413 | -€28,784 | -2.3% |
| Land and buildings | 22 | €1,074,243 | €1,065,596 | -€8,647 | -0.8% |
| Plant, machinery and equipment | 23 | €4,741 | €3,517 | -€1,224 | -25.8% |
| Furniture and vehicles | 24 | €18,913 | €0 | -€18,913 | -100% |
| Assets under construction and advance payments | 27 | €137,299 | €137,299 | = | 0.0% |
| Financial fixed assets | 28 | €3,120 | €3,120 | = | 0.0% |
| Current assets | 29/58 | €729,728 | €511,205 | -€218,522 | -29.9% |
| Stocks and contracts in progress | 3 | €15,000 | €0 | -€15,000 | -100% |
| Stocks | 30/36 | €15,000 | €0 | -€15,000 | -100% |
| Amounts receivable within one year | 40/41 | €549,731 | €509,098 | -€40,633 | -7.4% |
| Trade receivables | 40 | €24,945 | €34,916 | +€9,971 | +40.0% |
| Other amounts receivable | 41 | €524,785 | €474,182 | -€50,604 | -9.6% |
| Current investments | 50/53 | €2,200 | €0 | -€2,200 | -100% |
| Cash at bank and in hand | 54/58 | €162,797 | €2,107 | -€160,690 | -98.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,154,679 | €1,890,469 | -€264,210 | -12.3% |
| Equity | 10/15 | -€487,008 | -€439,562 | +€47,446 | +9.7% |
| Contributions | 10/11 | €87,118 | €87,118 | = | 0.0% |
| Capital | 10 | €87,118 | €87,118 | = | 0.0% |
| Issued capital | 100 | €87,118 | €87,118 | = | 0.0% |
| Reserves | 13 | €1,408,659 | €1,408,659 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,712 | €8,712 | = | 0.0% |
| Legal reserve | 130 | €8,712 | €8,712 | = | 0.0% |
| Tax-exempt reserves | 132 | €541,716 | €523,644 | -€18,073 | -3.3% |
| Distributable reserves | 133 | €858,231 | €876,304 | +€18,073 | +2.1% |
| Profit (loss) carried forward | 14 | -€1,982,785 | -€1,935,339 | +€47,446 | +2.4% |
| Provisions and deferred taxes | 16 | €108,299 | €108,299 | = | 0.0% |
| Deferred taxes | 168 | €108,299 | €108,299 | = | 0.0% |
| Amounts payable | 17/49 | €2,533,388 | €2,221,733 | -€311,656 | -12.3% |
| Amounts payable after more than one year | 17 | €1,639,949 | €1,511,669 | -€128,280 | -7.8% |
| Financial debts | 170/4 | €1,639,949 | €1,511,669 | -€128,280 | -7.8% |
| Amounts payable within one year | 42/48 | €890,235 | €707,073 | -€183,162 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €135,164 | €138,843 | +€3,679 | +2.7% |
| Financial debts | 43 | €0 | €4,371 | +€4,371 | |
| Credit institutions | 430/8 | €0 | €4,371 | +€4,371 | |
| Trade debts | 44 | €2,552 | €33,505 | +€30,953 | +1,213% |
| Suppliers | 440/4 | €2,552 | €33,505 | +€30,953 | +1,213% |
| Taxes, remuneration and social security | 45 | €387 | €12,618 | +€12,231 | +3,159% |
| Taxes | 450/3 | €387 | €12,618 | +€12,231 | +3,159% |
| Other amounts payable | 47/48 | €752,132 | €517,736 | -€234,395 | -31.2% |
| Accrued charges and deferred income | 492/3 | €3,205 | €2,991 | -€214 | -6.7% |
| Non-recurring operating income | 76A | €151,553 | €0 | -€151,553 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,279 | €26,775 | -€10,504 | -28.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,654 | +€8,654 | |
| Other operating charges | 640/8 | €29,812 | €26,678 | -€3,134 | -10.5% |
| Non-recurring operating charges | 66A | €236,330 | €36,490 | -€199,840 | -84.6% |
| Gross operating margin | 9900 | €312,497 | €190,419 | -€122,078 | -39.1% |
| Operating profit (loss) | 9901 | €9,076 | €91,822 | +€82,746 | +912% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €65,561 | €39,568 | -€25,993 | -39.6% |
| Recurring financial charges | 65 | €65,561 | €39,568 | -€25,993 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | -€56,485 | €52,254 | +€108,739 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €387 | €4,808 | +€4,421 | +1,142% |
| Profit (loss) for the period | 9904 | -€56,872 | €47,446 | +€104,318 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€56,872 | €47,446 | +€104,318 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.