V.B.S. 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.B.S. IMMO
Largest movements
- Tangible fixed assets -€29,700
down €29,700 (-3.0%), from €990,912 to €961,212
- Debts after one year -€53,495
down €53,495 (-7.6%), from €701,235 to €647,740
- Reserves +€21,389
up €21,389 (+7.5%), from €284,558 to €305,947
- Gross operating margin -€40,517
down €40,517 (-33.9%), from €119,536 to €79,019
- Depreciation -€14,850
down €14,850 (-33.3%), from €44,550 to €29,700
- Other operating charges -€8,096
down €8,096 (-47.0%), from €17,228 to €9,132
- Financial charges -€7,496
down €7,496 (-39.1%), from €19,164 to €11,668
- Taxes -€2,519
down €2,519 (-26.1%), from €9,648 to €7,130
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 | €1,138,449 | €1,107,812 | -€30,637 | -2.7% |
| Fixed assets | 21/28 | €990,912 | €961,212 | -€29,700 | -3.0% |
| Tangible fixed assets | 22/27 | €990,912 | €961,212 | -€29,700 | -3.0% |
| Land and buildings | 22 | €990,912 | €961,212 | -€29,700 | -3.0% |
| Current assets | 29/58 | €147,537 | €146,600 | -€937 | -0.6% |
| Amounts receivable within one year | 40/41 | €134,898 | €141,529 | +€6,631 | +4.9% |
| Trade receivables | 40 | €17,078 | €26,060 | +€8,982 | +52.6% |
| Other amounts receivable | 41 | €117,820 | €115,468 | -€2,352 | -2.0% |
| Cash at bank and in hand | 54/58 | €12,639 | €5,071 | -€7,567 | -59.9% |
| Total equity and liabilities | 10/49 | €1,138,449 | €1,107,812 | -€30,637 | -2.7% |
| Equity | 10/15 | €384,558 | €405,947 | +€21,389 | +5.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €284,558 | €305,947 | +€21,389 | +7.5% |
| Distributable reserves | 133 | €284,558 | €305,947 | +€21,389 | +7.5% |
| Amounts payable | 17/49 | €753,891 | €701,864 | -€52,026 | -6.9% |
| Amounts payable after more than one year | 17 | €701,235 | €647,740 | -€53,495 | -7.6% |
| Financial debts | 170/4 | €701,235 | €647,740 | -€53,495 | -7.6% |
| Amounts payable within one year | 42/48 | €52,656 | €54,125 | +€1,469 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €52,656 | €53,495 | +€839 | +1.6% |
| Taxes, remuneration and social security | 45 | - | €630 | +€630 | |
| Taxes | 450/3 | - | €630 | +€630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,550 | €29,700 | -€14,850 | -33.3% |
| Other operating charges | 640/8 | €17,228 | €9,132 | -€8,096 | -47.0% |
| Gross operating margin | 9900 | €119,536 | €79,019 | -€40,517 | -33.9% |
| Operating profit (loss) | 9901 | €57,758 | €40,187 | -€17,571 | -30.4% |
| Financial charges | 65/66B | €19,164 | €11,668 | -€7,496 | -39.1% |
| Recurring financial charges | 65 | €19,164 | €11,668 | -€7,496 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €38,594 | €28,519 | -€10,075 | -26.1% |
| Income taxes | 67/77 | €9,648 | €7,130 | -€2,519 | -26.1% |
| Profit (loss) for the period | 9904 | €28,945 | €21,389 | -€7,556 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,945 | €21,389 | -€7,556 | -26.1% |
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 21 October 2026 via checked.be.