Immobilière VS: what changed
Immobilière VS
Largest movements
- Cash -€185,485
down €185,485 (-95.1%), from €194,954 to €9,469
mainly Investment in fixed assets (net) (-€183,481) and Receivables within one year (-€92,744)
- Tangible fixed assets +€181,835
up €181,835 (+5,784%), from €3,144 to €184,978
- Receivables within one year +€92,744
up €92,744 (+81.5%), from €113,829 to €206,573
of which Other amounts receivable: +€82,744
- Short-term financial debts +€100,000
up €100,000 (+25.0%), from €400,000 to €500,000
- Other debts +€38,992
up €38,992 (+12.5%), from €310,869 to €349,860
- Profit (loss) carried forward -€26,195
down €26,195 (-661%), from -€3,963 to -€30,158
- Tax, wage and social debts -€20,525
no longer reported in 2025 (was €20,525)
- Financial income -€93,775
no longer reported in 2025 (was €93,775)
of which Non-recurring financial income: -€93,345
- Gross operating margin +€30,151
up €30,151, from -€23,622 to €6,529
- Financial charges +€11,668
up €11,668 (+68.9%), from €16,941 to €28,609
- Taxes -€4,869
new in 2025: -€4,869
- Depreciation +€1,242
up €1,242 (+307%), from €404 to €1,646
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €861,927 | €953,875 | +€91,949 | +10.7% |
| Fixed assets | 21/28 | €553,144 | €734,978 | +€181,835 | +32.9% |
| Tangible fixed assets | 22/27 | €3,144 | €184,978 | +€181,835 | +5,784% |
| Land and buildings | 22 | €3,144 | €184,978 | +€181,835 | +5,784% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €308,783 | €218,897 | -€89,886 | -29.1% |
| Amounts receivable within one year | 40/41 | €113,829 | €206,573 | +€92,744 | +81.5% |
| Trade receivables | 40 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €113,829 | €196,573 | +€82,744 | +72.7% |
| Cash at bank and in hand | 54/58 | €194,954 | €9,469 | -€185,485 | -95.1% |
| Deferred charges and accrued income | 490/1 | - | €2,855 | +€2,855 | |
| Total equity and liabilities | 10/49 | €861,927 | €953,875 | +€91,949 | +10.7% |
| Equity | 10/15 | €82,868 | €56,001 | -€26,867 | -32.4% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €74,436 | €73,765 | -€671 | -0.9% |
| Tax-exempt reserves | 132 | €70,008 | €69,337 | -€671 | -1.0% |
| Distributable reserves | 133 | €4,428 | €4,428 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,963 | -€30,158 | -€26,195 | -661% |
| Provisions and deferred taxes | 16 | €23,336 | €23,112 | -€224 | -1.0% |
| Deferred taxes | 168 | €23,336 | €23,112 | -€224 | -1.0% |
| Amounts payable | 17/49 | €755,723 | €874,762 | +€119,039 | +15.8% |
| Amounts payable within one year | 42/48 | €752,970 | €869,813 | +€116,843 | +15.5% |
| Financial debts | 43 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Credit institutions | 430/8 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Trade debts | 44 | €21,576 | €19,953 | -€1,623 | -7.5% |
| Suppliers | 440/4 | €21,576 | €19,953 | -€1,623 | -7.5% |
| Taxes, remuneration and social security | 45 | €20,525 | - | -€20,525 | |
| Taxes | 450/3 | €20,525 | - | -€20,525 | |
| Other amounts payable | 47/48 | €310,869 | €349,860 | +€38,992 | +12.5% |
| Accrued charges and deferred income | 492/3 | €2,753 | €4,949 | +€2,196 | +79.8% |
| Remuneration, social security and pensions | 62 | €125 | - | -€125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404 | €1,646 | +€1,242 | +307% |
| Other operating charges | 640/8 | €8,299 | €8,233 | -€66 | -0.8% |
| Gross operating margin | 9900 | -€23,622 | €6,529 | +€30,151 | |
| Operating profit (loss) | 9901 | -€32,450 | -€3,350 | +€29,100 | +89.7% |
| Financial income | 75/76B | €93,775 | - | -€93,775 | |
| Recurring financial income | 75 | €431 | - | -€431 | |
| Non-recurring financial income | 76B | €93,345 | - | -€93,345 | |
| Financial charges | 65/66B | €16,941 | €28,609 | +€11,668 | +68.9% |
| Recurring financial charges | 65 | €16,941 | €28,609 | +€11,668 | +68.9% |
| Profit (loss) for the period before taxes | 9903 | €44,385 | -€31,959 | -€76,344 | |
| Transfer from deferred taxes | 780 | - | €224 | +€224 | |
| Income taxes | 67/77 | - | -€4,869 | -€4,869 | |
| Profit (loss) for the period | 9904 | €44,385 | -€26,867 | -€71,251 | |
| Transfer from tax-exempt reserves | 789 | - | €671 | +€671 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,385 | -€26,195 | -€70,580 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.