IMMO VUYLSTEKE: 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 VUYLSTEKE
Largest movements
- Cash -€52,766
down €52,766 (-42.2%), from €125,059 to €72,293
mainly Investment in fixed assets (net) (-€66,050) and Net result for the year (-€43,025)
- Tangible fixed assets +€32,560
up €32,560 (+6.2%), from €529,423 to €561,983
of which Land and buildings: +€27,469
- Receivables within one year -€9,268
down €9,268 (-65.9%), from €14,070 to €4,802
of which Trade receivables: -€14,070
- Reserves -€36,422
down €36,422 (-25.0%), from €145,911 to €109,490
of which Tax-exempt reserves: -€27,169
- Debts after one year +€16,253
up €16,253 (+3.7%), from €435,501 to €451,754
of which Financial debts: +€25,176
- Provisions -€9,056
down €9,056 (-29.5%), from €30,658 to €21,602
- Current portion of long-term debt -€8,921
down €8,921 (-34.7%), from €25,713 to €16,792
- Gross operating margin -€94,609
down €94,609 (-90.7%), from €104,283 to €9,674
- Other operating charges -€56,342
down €56,342 (-87.7%), from €64,231 to €7,889
- Depreciation +€3,319
up €3,319 (+11.0%), from €30,170 to €33,490
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 | €670,546 | €642,432 | -€28,114 | -4.2% |
| Fixed assets | 21/28 | €529,423 | €561,983 | +€32,560 | +6.2% |
| Tangible fixed assets | 22/27 | €529,423 | €561,983 | +€32,560 | +6.2% |
| Land and buildings | 22 | €527,443 | €554,912 | +€27,469 | +5.2% |
| Plant, machinery and equipment | 23 | €1,980 | €7,072 | +€5,091 | +257% |
| Current assets | 29/58 | €141,123 | €80,449 | -€60,674 | -43.0% |
| Amounts receivable within one year | 40/41 | €14,070 | €4,802 | -€9,268 | -65.9% |
| Trade receivables | 40 | €14,070 | - | -€14,070 | |
| Other amounts receivable | 41 | - | €4,802 | +€4,802 | |
| Cash at bank and in hand | 54/58 | €125,059 | €72,293 | -€52,766 | -42.2% |
| Deferred charges and accrued income | 490/1 | €1,994 | €3,354 | +€1,360 | +68.2% |
| Total equity and liabilities | 10/49 | €670,546 | €642,432 | -€28,114 | -4.2% |
| Equity | 10/15 | €139,940 | €105,040 | -€34,900 | -24.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €145,911 | €109,490 | -€36,422 | -25.0% |
| Tax-exempt reserves | 132 | €91,974 | €64,805 | -€27,169 | -29.5% |
| Distributable reserves | 133 | €53,938 | €44,685 | -€9,253 | -17.2% |
| Profit (loss) carried forward | 14 | -€24,563 | -€23,041 | +€1,522 | +6.2% |
| Provisions and deferred taxes | 16 | €30,658 | €21,602 | -€9,056 | -29.5% |
| Deferred taxes | 168 | €30,658 | €21,602 | -€9,056 | -29.5% |
| Amounts payable | 17/49 | €499,948 | €515,790 | +€15,842 | +3.2% |
| Amounts payable after more than one year | 17 | €435,501 | €451,754 | +€16,253 | +3.7% |
| Financial debts | 170/4 | €196,667 | €221,843 | +€25,176 | +12.8% |
| Other amounts payable | 178/9 | €238,835 | €229,911 | -€8,924 | -3.7% |
| Amounts payable within one year | 42/48 | €63,962 | €60,152 | -€3,810 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €25,713 | €16,792 | -€8,921 | -34.7% |
| Trade debts | 44 | €13,000 | €18,359 | +€5,360 | +41.2% |
| Suppliers | 440/4 | €13,000 | €18,359 | +€5,360 | +41.2% |
| Taxes, remuneration and social security | 45 | €249 | - | -€249 | |
| Taxes | 450/3 | €249 | - | -€249 | |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €485 | €3,885 | +€3,400 | +701% |
| Non-recurring operating income | 76A | €95,182 | - | -€95,182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,170 | €33,490 | +€3,319 | +11.0% |
| Other operating charges | 640/8 | €64,231 | €7,889 | -€56,342 | -87.7% |
| Gross operating margin | 9900 | €104,283 | €9,674 | -€94,609 | -90.7% |
| Operating profit (loss) | 9901 | €9,882 | -€31,704 | -€41,587 | |
| Financial income | 75/76B | €56 | €1 | -€55 | -98.6% |
| Recurring financial income | 75 | €56 | €1 | -€55 | -98.6% |
| Non-recurring financial income | 76B | €56 | - | -€56 | |
| Financial charges | 65/66B | €12,567 | €12,055 | -€513 | -4.1% |
| Recurring financial charges | 65 | €12,567 | €12,055 | -€513 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,629 | -€43,758 | -€41,129 | -1,564% |
| Transfer from deferred taxes | 780 | €27,977 | €931 | -€27,046 | -96.7% |
| Transfer to deferred taxes | 680 | €31,935 | - | -€31,935 | |
| Income taxes | 67/77 | €249 | €198 | -€51 | -20.6% |
| Profit (loss) for the period | 9904 | -€6,836 | -€43,025 | -€36,188 | -529% |
| Transfer from tax-exempt reserves | 789 | €55,685 | €2,794 | -€52,891 | -95.0% |
| Transfer to tax-exempt reserves | 689 | €95,806 | - | -€95,806 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,957 | -€40,231 | +€6,726 | +14.3% |
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 16 October 2026 via checked.be.