IMMO VRAY: 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 VRAY
Largest movements
- Tangible fixed assets -€12,590
down €12,590 (-2.2%), from €581,812 to €569,222
of which Land and buildings: -€6,923
- Debts after one year -€20,474
down €20,474 (-5.9%), from €345,095 to €324,621
- Gross operating margin +€27,011
up €27,011 (+69.1%), from €39,098 to €66,109
- Other operating charges +€8,889
up €8,889 (+121.9%), from €7,295 to €16,185
- Depreciation +€8,646
up €8,646 (+41.3%), from €20,954 to €29,600
- Financial charges +€1,820
up €1,820 (+14.7%), from €12,404 to €14,223
- Taxes +€1,215
up €1,215, from €0 to €1,215
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 | €588,014 | €579,978 | -€8,036 | -1.4% |
| Fixed assets | 21/28 | €581,812 | €569,222 | -€12,590 | -2.2% |
| Tangible fixed assets | 22/27 | €581,812 | €569,222 | -€12,590 | -2.2% |
| Land and buildings | 22 | €556,271 | €549,348 | -€6,923 | -1.2% |
| Furniture and vehicles | 24 | €25,541 | €19,874 | -€5,667 | -22.2% |
| Current assets | 29/58 | €6,202 | €10,756 | +€4,554 | +73.4% |
| Amounts receivable within one year | 40/41 | €5,330 | €8,800 | +€3,470 | +65.1% |
| Other amounts receivable | 41 | €5,330 | €8,800 | +€3,470 | +65.1% |
| Cash at bank and in hand | 54/58 | €872 | €792 | -€80 | -9.2% |
| Deferred charges and accrued income | 490/1 | - | €1,164 | +€1,164 | |
| Total equity and liabilities | 10/49 | €588,014 | €579,978 | -€8,036 | -1.4% |
| Equity | 10/15 | €146,464 | €151,357 | +€4,892 | +3.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €99,670 | €104,562 | +€4,892 | +4.9% |
| Non-distributable reserves | 130/1 | €2,290 | €2,290 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,290 | €2,290 | = | 0.0% |
| Distributable reserves | 133 | €97,380 | €102,272 | +€4,892 | +5.0% |
| Profit (loss) carried forward | 14 | €6,794 | €6,794 | = | 0.0% |
| Amounts payable | 17/49 | €441,550 | €428,622 | -€12,928 | -2.9% |
| Amounts payable after more than one year | 17 | €345,095 | €324,621 | -€20,474 | -5.9% |
| Financial debts | 170/4 | €345,095 | €324,621 | -€20,474 | -5.9% |
| Amounts payable within one year | 42/48 | €95,955 | €103,500 | +€7,546 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €19,485 | €20,899 | +€1,414 | +7.3% |
| Trade debts | 44 | €2,451 | €8,083 | +€5,631 | +229.7% |
| Suppliers | 440/4 | €2,451 | €8,083 | +€5,631 | +229.7% |
| Other amounts payable | 47/48 | €74,018 | €74,518 | +€500 | +0.7% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,954 | €29,600 | +€8,646 | +41.3% |
| Other operating charges | 640/8 | €7,295 | €16,185 | +€8,889 | +121.9% |
| Gross operating margin | 9900 | €39,098 | €66,109 | +€27,011 | +69.1% |
| Operating profit (loss) | 9901 | €10,849 | €20,324 | +€9,475 | +87.3% |
| Financial income | 75/76B | €53 | €7 | -€46 | -87.4% |
| Recurring financial income | 75 | €53 | €7 | -€46 | -87.4% |
| Financial charges | 65/66B | €12,404 | €14,223 | +€1,820 | +14.7% |
| Recurring financial charges | 65 | €12,404 | €14,223 | +€1,820 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,502 | €6,108 | +€7,610 | |
| Income taxes | 67/77 | €0 | €1,215 | +€1,215 | |
| Profit (loss) for the period | 9904 | -€1,502 | €4,892 | +€6,394 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,502 | €4,892 | +€6,394 |
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 4 October 2026 via checked.be.