ImmoVF: 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.
ImmoVF
Largest movements
- Tangible fixed assets +€218,849
up €218,849 (+39.4%), from €555,592 to €774,442
of which Land and buildings: +€225,369
- Financial fixed assets +€151,443
up €151,443 (+582%), from €26,000 to €177,443
- Cash +€110,020
up €110,020 (+57.9%), from €189,984 to €300,004
mainly Net result for the year (+€286,501) and Other debts (+€111,941)
- Receivables within one year +€55,316
up €55,316 (+37.1%), from €148,990 to €204,306
of which Trade receivables: +€47,664
- Reserves +€249,823
up €249,823 (+80.2%), from €311,628 to €561,450
of which Distributable reserves: +€249,823
- Other debts +€111,941
up €111,941 (+387%), from €28,944 to €140,885
- Accrued charges and deferred income +€70,346
new in 2025: €70,346
- Debts after one year +€66,232
up €66,232 (+12.6%), from €527,324 to €593,556
- Tax, wage and social debts +€22,773
up €22,773 (+139%), from €16,383 to €39,156
- Financial income +€293,595
up €293,595 (+12,991%), from €2,260 to €295,855
- Gross operating margin -€64,195
down €64,195 (-45.8%), from €140,084 to €75,889
- Financial charges +€7,951
up €7,951 (+105%), from €7,606 to €15,558
- Depreciation +€5,093
up €5,093 (+23.3%), from €21,882 to €26,975
- Other operating charges +€3,033
up €3,033 (+81.2%), from €3,734 to €6,767
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 | €920,785 | €1,456,195 | +€535,411 | +58.1% |
| Fixed assets | 21/28 | €581,592 | €951,885 | +€370,293 | +63.7% |
| Tangible fixed assets | 22/27 | €555,592 | €774,442 | +€218,849 | +39.4% |
| Land and buildings | 22 | €463,500 | €688,870 | +€225,369 | +48.6% |
| Plant, machinery and equipment | 23 | €2,122 | €1,759 | -€362 | -17.1% |
| Furniture and vehicles | 24 | €2,026 | €1,537 | -€489 | -24.1% |
| Other tangible fixed assets | 26 | €87,944 | €82,275 | -€5,669 | -6.4% |
| Financial fixed assets | 28 | €26,000 | €177,443 | +€151,443 | +582% |
| Current assets | 29/58 | €339,193 | €504,311 | +€165,118 | +48.7% |
| Amounts receivable within one year | 40/41 | €148,990 | €204,306 | +€55,316 | +37.1% |
| Trade receivables | 40 | €12,990 | €60,654 | +€47,664 | +367% |
| Other amounts receivable | 41 | €136,000 | €143,652 | +€7,652 | +5.6% |
| Cash at bank and in hand | 54/58 | €189,984 | €300,004 | +€110,020 | +57.9% |
| Deferred charges and accrued income | 490/1 | €218 | - | -€218 | |
| Total equity and liabilities | 10/49 | €920,785 | €1,456,195 | +€535,411 | +58.1% |
| Equity | 10/15 | €317,174 | €566,997 | +€249,823 | +78.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €311,628 | €561,450 | +€249,823 | +80.2% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,400 | €3,400 | = | 0.0% |
| Distributable reserves | 133 | €308,128 | €557,950 | +€249,823 | +81.1% |
| Profit (loss) carried forward | 14 | €4,547 | €4,547 | = | 0.0% |
| Amounts payable | 17/49 | €603,611 | €889,198 | +€285,588 | +47.3% |
| Amounts payable after more than one year | 17 | €527,324 | €593,556 | +€66,232 | +12.6% |
| Financial debts | 170/4 | €527,324 | €593,556 | +€66,232 | +12.6% |
| Amounts payable within one year | 42/48 | €76,287 | €225,297 | +€149,010 | +195% |
| Current portion of amounts payable after more than one year | 42 | €29,855 | €34,177 | +€4,323 | +14.5% |
| Trade debts | 44 | €1,106 | €11,079 | +€9,973 | +902% |
| Suppliers | 440/4 | €1,106 | €11,079 | +€9,973 | +902% |
| Taxes, remuneration and social security | 45 | €16,383 | €39,156 | +€22,773 | +139% |
| Taxes | 450/3 | €16,383 | €39,156 | +€22,773 | +139% |
| Other amounts payable | 47/48 | €28,944 | €140,885 | +€111,941 | +387% |
| Accrued charges and deferred income | 492/3 | - | €70,346 | +€70,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,882 | €26,975 | +€5,093 | +23.3% |
| Other operating charges | 640/8 | €3,734 | €6,767 | +€3,033 | +81.2% |
| Gross operating margin | 9900 | €140,084 | €75,889 | -€64,195 | -45.8% |
| Operating profit (loss) | 9901 | €114,468 | €42,147 | -€72,321 | -63.2% |
| Financial income | 75/76B | €2,260 | €295,855 | +€293,595 | +12,991% |
| Recurring financial income | 75 | €2,260 | €295,855 | +€293,595 | +12,991% |
| Financial charges | 65/66B | €7,606 | €15,558 | +€7,951 | +105% |
| Recurring financial charges | 65 | €7,606 | €15,558 | +€7,951 | +105% |
| Profit (loss) for the period before taxes | 9903 | €109,122 | €322,444 | +€213,322 | +195% |
| Income taxes | 67/77 | €33,613 | €35,942 | +€2,330 | +6.9% |
| Profit (loss) for the period | 9904 | €75,509 | €286,501 | +€210,992 | +279% |
| Profit (loss) for the period to be appropriated | 9905 | €75,509 | €286,501 | +€210,992 | +279% |
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 13 October 2026 via checked.be.