V.A.D. IMMO: 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.
V.A.D. IMMO
Largest movements
- Cash +€149,536
up €149,536 (+69568.0%), from €215 to €149,751
mainly Net result for the year (+€419,714) and Receivables within one year (+€122,589)
- Tangible fixed assets -€146,779
down €146,779 (-73.9%), from €198,551 to €51,772
of which Land and buildings: -€196,946
- Receivables within one year -€122,589
down €122,589 (-36.9%), from €332,478 to €209,889
of which Other amounts receivable: -€71,676
- Financial fixed assets +€74,620
up €74,620 (+29.2%), from €255,544 to €330,164
- Reserves +€419,714
up €419,714 (+269.2%), from €155,889 to €575,603
of which Tax-exempt reserves: +€383,054
- Debts after one year -€296,740
down €296,740 (-78.5%), from €378,089 to €81,349
- Other debts -€60,665
no longer reported in 2022 (was €60,665)
- Tax, wage and social debts -€43,986
down €43,986 (-81.6%), from €53,886 to €9,900
- Current portion of long-term debt -€35,990
down €35,990 (-69.6%), from €51,742 to €15,752
- Financial income +€353,671
up €353,671 (+666.5%), from €53,064 to €406,735
of which Non-recurring financial income: +€366,554
- Depreciation -€19,016
down €19,016 (-95.8%), from €19,850 to €834
- Gross operating margin -€17,469
down €17,469 (-29.2%), from €59,750 to €42,281
- Financial charges -€9,507
down €9,507 (-48.0%), from €19,787 to €10,280
- Other operating charges +€5,746
up €5,746 (+225.9%), from €2,544 to €8,289
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €786,788 | €741,576 | -€45,212 | -5.7% |
| Fixed assets | 21/28 | €454,095 | €381,936 | -€72,159 | -15.9% |
| Tangible fixed assets | 22/27 | €198,551 | €51,772 | -€146,779 | -73.9% |
| Land and buildings | 22 | €196,946 | - | -€196,946 | |
| Furniture and vehicles | 24 | €1,605 | €19,772 | +€18,167 | +1132.0% |
| Assets under construction and advance payments | 27 | - | €32,000 | +€32,000 | |
| Financial fixed assets | 28 | €255,544 | €330,164 | +€74,620 | +29.2% |
| Current assets | 29/58 | €332,693 | €359,640 | +€26,947 | +8.1% |
| Amounts receivable within one year | 40/41 | €332,478 | €209,889 | -€122,589 | -36.9% |
| Trade receivables | 40 | €260,802 | €209,889 | -€50,913 | -19.5% |
| Other amounts receivable | 41 | €71,676 | - | -€71,676 | |
| Cash at bank and in hand | 54/58 | €215 | €149,751 | +€149,536 | +69568.0% |
| Total equity and liabilities | 10/49 | €786,788 | €741,576 | -€45,212 | -5.7% |
| Equity | 10/15 | €199,889 | €619,603 | +€419,714 | +210.0% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Reserves | 13 | €155,889 | €575,603 | +€419,714 | +269.2% |
| Non-distributable reserves | 130/1 | €4,400 | €4,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,400 | €4,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,500 | €399,554 | +€383,054 | +2321.5% |
| Distributable reserves | 133 | €134,989 | €171,649 | +€36,659 | +27.2% |
| Amounts payable | 17/49 | €586,898 | €121,973 | -€464,925 | -79.2% |
| Amounts payable after more than one year | 17 | €378,089 | €81,349 | -€296,740 | -78.5% |
| Financial debts | 170/4 | €378,089 | €81,349 | -€296,740 | -78.5% |
| Amounts payable within one year | 42/48 | €208,810 | €40,624 | -€168,185 | -80.5% |
| Current portion of amounts payable after more than one year | 42 | €51,742 | €15,752 | -€35,990 | -69.6% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €37,517 | €14,972 | -€22,545 | -60.1% |
| Suppliers | 440/4 | €37,517 | €14,972 | -€22,545 | -60.1% |
| Taxes, remuneration and social security | 45 | €53,886 | €9,900 | -€43,986 | -81.6% |
| Taxes | 450/3 | €53,886 | €9,900 | -€43,986 | -81.6% |
| Other amounts payable | 47/48 | €60,665 | - | -€60,665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,850 | €834 | -€19,016 | -95.8% |
| Other operating charges | 640/8 | €2,544 | €8,289 | +€5,746 | +225.9% |
| Gross operating margin | 9900 | €59,750 | €42,281 | -€17,469 | -29.2% |
| Operating profit (loss) | 9901 | €37,357 | €33,158 | -€4,199 | -11.2% |
| Financial income | 75/76B | €53,064 | €406,735 | +€353,671 | +666.5% |
| Recurring financial income | 75 | €36,564 | €23,681 | -€12,883 | -35.2% |
| Non-recurring financial income | 76B | €16,500 | €383,054 | +€366,554 | +2221.5% |
| Financial charges | 65/66B | €19,787 | €10,280 | -€9,507 | -48.0% |
| Recurring financial charges | 65 | €19,787 | €10,280 | -€9,507 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €70,634 | €429,614 | +€358,979 | +508.2% |
| Income taxes | 67/77 | €14,800 | €9,900 | -€4,900 | -33.1% |
| Profit (loss) for the period | 9904 | €55,834 | €419,714 | +€363,879 | +651.7% |
| Transfer to tax-exempt reserves | 689 | €16,500 | €383,054 | +€366,554 | +2221.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,334 | €36,659 | -€2,675 | -6.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.