IMMO VUCHT: 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 VUCHT
Largest movements
- Stocks and contracts -€453,600
no longer reported in 2025 (was €453,600)
- Financial fixed assets -€358,000
down €358,000 (-76.6%), from €467,300 to €109,300
- Cash +€253,931
up €253,931 (+579.4%), from €43,828 to €297,759
mainly Stocks and contracts (+€453,600) and Investment in fixed assets (net) (+€298,125)
- Receivables within one year -€222,839
down €222,839 (-14.1%), from €1.6m to €1.4m
- Current portion of long-term debt -€351,517
down €351,517 (-77.9%), from €451,517 to €100,000
- Reserves -€351,362
down €351,362 (-15.6%), from €2.3m to €1.9m
of which Distributable reserves: -€351,362
- Write-downs +€623,366
new in 2025: €623,366
- Financial income +€300,254
new in 2025: €300,254
of which Non-recurring financial income: +€298,156
- Financial charges -€44,079
down €44,079 (-73.0%), from €60,399 to €16,320
of which Non-recurring financial charges: -€28,516
- Gross operating margin +€16,830
up €16,830 (+60.8%), from €27,691 to €44,521
- Other operating charges +€1,975
up €1,975 (+34.6%), from €5,716 to €7,692
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 | €4,469,752 | €3,703,960 | -€765,792 | -17.1% |
| Fixed assets | 21/28 | €2,388,310 | €2,045,026 | -€343,284 | -14.4% |
| Tangible fixed assets | 22/27 | €1,921,010 | €1,935,726 | +€14,716 | +0.8% |
| Land and buildings | 22 | €1,913,666 | €1,889,413 | -€24,253 | -1.3% |
| Furniture and vehicles | 24 | €7,344 | €8,313 | +€969 | +13.2% |
| Other tangible fixed assets | 26 | - | €38,000 | +€38,000 | |
| Financial fixed assets | 28 | €467,300 | €109,300 | -€358,000 | -76.6% |
| Current assets | 29/58 | €2,081,442 | €1,658,934 | -€422,508 | -20.3% |
| Stocks and contracts in progress | 3 | €453,600 | - | -€453,600 | |
| Stocks | 30/36 | €453,600 | - | -€453,600 | |
| Amounts receivable within one year | 40/41 | €1,584,014 | €1,361,175 | -€222,839 | -14.1% |
| Other amounts receivable | 41 | €1,584,014 | €1,361,175 | -€222,839 | -14.1% |
| Cash at bank and in hand | 54/58 | €43,828 | €297,759 | +€253,931 | +579.4% |
| Total equity and liabilities | 10/49 | €4,469,752 | €3,703,960 | -€765,792 | -17.1% |
| Equity | 10/15 | €3,912,717 | €3,561,355 | -€351,362 | -9.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €1,599,968 | €1,599,968 | = | 0.0% |
| Reserves | 13 | €2,250,775 | €1,899,413 | -€351,362 | -15.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €122,115 | €122,115 | = | 0.0% |
| Distributable reserves | 133 | €2,122,463 | €1,771,101 | -€351,362 | -16.6% |
| Provisions and deferred taxes | 16 | €40,705 | €40,705 | = | 0.0% |
| Deferred taxes | 168 | €40,705 | €40,705 | = | 0.0% |
| Amounts payable | 17/49 | €516,330 | €101,900 | -€414,430 | -80.3% |
| Amounts payable within one year | 42/48 | €516,330 | €101,900 | -€414,430 | -80.3% |
| Current portion of amounts payable after more than one year | 42 | €451,517 | €100,000 | -€351,517 | -77.9% |
| Trade debts | 44 | €39,691 | €1,900 | -€37,790 | -95.2% |
| Suppliers | 440/4 | €39,691 | €1,900 | -€37,790 | -95.2% |
| Advances received on contracts in progress | 46 | €25,122 | - | -€25,122 | |
| Non-recurring operating income | 76A | - | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,438 | €45,159 | +€722 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €623,366 | +€623,366 | |
| Other operating charges | 640/8 | €5,716 | €7,692 | +€1,975 | +34.6% |
| Non-recurring operating charges | 66A | €3,435 | €3,600 | +€165 | +4.8% |
| Gross operating margin | 9900 | €27,691 | €44,521 | +€16,830 | +60.8% |
| Operating profit (loss) | 9901 | -€25,898 | -€635,296 | -€609,398 | -2353.1% |
| Financial income | 75/76B | - | €300,254 | +€300,254 | |
| Recurring financial income | 75 | - | €2,099 | +€2,099 | |
| Non-recurring financial income | 76B | - | €298,156 | +€298,156 | |
| Financial charges | 65/66B | €60,399 | €16,320 | -€44,079 | -73.0% |
| Recurring financial charges | 65 | €31,883 | €16,320 | -€15,563 | -48.8% |
| Non-recurring financial charges | 66B | €28,516 | - | -€28,516 | |
| Profit (loss) for the period before taxes | 9903 | -€86,297 | -€351,362 | -€265,065 | -307.2% |
| Profit (loss) for the period | 9904 | -€86,297 | -€351,362 | -€265,065 | -307.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,297 | -€351,362 | -€265,065 | -307.2% |
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 8 October 2026 via checked.be.