V-Immo: what changed
Two fiscal 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-Immo
Largest movements
- Receivables within one year -€30,016
no longer reported in 2025 (was €30,016)
of which Other amounts receivable: -€29,699
- Tangible fixed assets -€20,939
down €20,939 (-6.0%), from €347,028 to €326,088
of which Land and buildings: -€20,810
- Debts after one year -€43,858
down €43,858 (-15.8%), from €277,790 to €233,932
of which Financial debts: -€31,858
- Reserves -€9,400
down €9,400 (-13.1%), from €71,950 to €62,550
- Write-downs +€29,699
new in 2025: €29,699
- Gross operating margin +€17,384
up €17,384 (+62.2%), from €27,961 to €45,345
- Taxes -€863
down €863, from €833 to -€29
- Financial income -€800
down €800 (-100.0%), from €800 to €0
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.
Cash bridge derived
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 | €387,755 | €334,886 | -€52,869 | -13.6% |
| Fixed assets | 21/28 | €347,028 | €326,088 | -€20,939 | -6.0% |
| Tangible fixed assets | 22/27 | €347,028 | €326,088 | -€20,939 | -6.0% |
| Land and buildings | 22 | €346,481 | €325,670 | -€20,810 | -6.0% |
| Furniture and vehicles | 24 | €547 | €418 | -€129 | -23.6% |
| Current assets | 29/58 | €40,727 | €8,798 | -€31,929 | -78.4% |
| Amounts receivable within one year | 40/41 | €30,016 | - | -€30,016 | |
| Trade receivables | 40 | €317 | - | -€317 | |
| Other amounts receivable | 41 | €29,699 | - | -€29,699 | |
| Cash at bank and in hand | 54/58 | €8,300 | €8,798 | +€498 | +6.0% |
| Deferred charges and accrued income | 490/1 | €2,412 | - | -€2,412 | |
| Total equity and liabilities | 10/49 | €387,755 | €334,886 | -€52,869 | -13.6% |
| Equity | 10/15 | €94,380 | €83,658 | -€10,722 | -11.4% |
| Contributions | 10/11 | €22,200 | €22,200 | = | 0.0% |
| Reserves | 13 | €71,950 | €62,550 | -€9,400 | -13.1% |
| Distributable reserves | 133 | €71,950 | €62,550 | -€9,400 | -13.1% |
| Profit (loss) carried forward | 14 | €230 | -€1,092 | -€1,322 | |
| Amounts payable | 17/49 | €293,375 | €251,228 | -€42,147 | -14.4% |
| Amounts payable after more than one year | 17 | €277,790 | €233,932 | -€43,858 | -15.8% |
| Financial debts | 170/4 | €265,790 | €233,932 | -€31,858 | -12.0% |
| Other amounts payable | 178/9 | €12,000 | - | -€12,000 | |
| Amounts payable within one year | 42/48 | €15,585 | €17,024 | +€1,440 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €14,730 | €14,861 | +€132 | +0.9% |
| Trade debts | 44 | - | €2,163 | +€2,163 | |
| Suppliers | 440/4 | - | €2,163 | +€2,163 | |
| Taxes, remuneration and social security | 45 | €855 | - | -€855 | |
| Taxes | 450/3 | €855 | - | -€855 | |
| Accrued charges and deferred income | 492/3 | - | €272 | +€272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,710 | €20,939 | +€230 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €29,699 | +€29,699 | |
| Other operating charges | 640/8 | €3,984 | €3,707 | -€277 | -6.9% |
| Gross operating margin | 9900 | €27,961 | €45,345 | +€17,384 | +62.2% |
| Operating profit (loss) | 9901 | €3,268 | -€9,001 | -€12,268 | |
| Financial income | 75/76B | €800 | €0 | -€800 | -100.0% |
| Recurring financial income | 75 | €800 | €0 | -€800 | -100.0% |
| Financial charges | 65/66B | €1,640 | €1,751 | +€111 | +6.8% |
| Recurring financial charges | 65 | €1,640 | €1,751 | +€111 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €2,428 | -€10,751 | -€13,179 | |
| Income taxes | 67/77 | €833 | -€29 | -€863 | |
| Profit (loss) for the period | 9904 | €1,594 | -€10,722 | -€12,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,594 | -€10,722 | -€12,316 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.