V.W.I.C.: 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.
What changed
V.W.I.C.
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€190,009
2024 · €49,464+€140,545
Equity
€3.8m
2024 · €3.6m+€190,009
Cash
€11,801
2024 · €24,928-€13,127
Balance sheet total
€10.2m
2024 · €10.5m-€344,849
Largest movements
Assets
- Tangible fixed assets -€324,040
down €324,040 (-3.1%), from €10.5m to €10.2m
of which Land and buildings: -€355,027
Equity and liabilities
- Debts after one year -€251,848
down €251,848 (-9.7%), from €2.6m to €2.3m
- Short-term financial debts -€229,000
down €229,000 (-100%), from €229,000 to €0
- Profit (loss) carried forward +€190,009
up €190,009 (+35.5%), from -€534,536 to -€344,527
Income statement
- Financial charges -€119,077
down €119,077 (-49.9%), from €238,544 to €119,468
- Services and other goods -€55,877
down €55,877 (-29.8%), from €187,551 to €131,674
- Turnover -€37,372
down €37,372 (-4.0%), from €934,057 to €896,685
- Other operating income -€10,738
down €10,738 (-36.5%), from €29,386 to €18,648
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.
Result 2024
€49,464
Turnover
-€37,372
Other operating income
-€10,738
Services and other goods
+€55,877
Depreciation
-€1,830
Other operating charges
-€2,144
Other operating items
+€20,008
Financial income
-€2,332
Financial charges
+€119,077
Result 2025
€190,009
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€580,849
Investment
-€123,358
Financing
-€470,619
Cash 2024
€24,928
From operations (derived)
+€580,849
Net result for the year
+€190,009
Depreciation
+€447,397
Receivables within one year
+€5,818
Deferred charges and accrued income
+€1,864
Trade debts
+€19,225
Smaller working-capital items
+€417
Other debts
-€83,880
Investment (derived)
-€123,358
Investment in fixed assets (net)
-€123,358
Financing
-€470,619
Debts after one year
-€251,848
Current portion of long-term debt
+€10,229
Short-term financial debts
-€229,000
Cash 2025
€11,801
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,540,015 | €10,195,166 | -€344,849 | -3.3% |
| Fixed assets | 21/28 | €10,499,849 | €10,175,809 | -€324,040 | -3.1% |
| Tangible fixed assets | 22/27 | €10,499,817 | €10,175,778 | -€324,040 | -3.1% |
| Land and buildings | 22 | €10,348,606 | €9,993,579 | -€355,027 | -3.4% |
| Other tangible fixed assets | 26 | €151,211 | €182,198 | +€30,987 | +20.5% |
| Financial fixed assets | 28 | €31 | €31 | = | 0.0% |
| Other financial fixed assets | 284/8 | €31 | €31 | = | 0.0% |
| Shares | 284 | €16 | €16 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €40,166 | €19,358 | -€20,809 | -51.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,818 | €0 | -€5,818 | -100% |
| Trade receivables | 40 | €5,818 | €0 | -€5,818 | -100% |
| Cash at bank and in hand | 54/58 | €24,928 | €11,801 | -€13,127 | -52.7% |
| Deferred charges and accrued income | 490/1 | €9,420 | €7,557 | -€1,864 | -19.8% |
| Total equity and liabilities | 10/49 | €10,540,015 | €10,195,166 | -€344,849 | -3.3% |
| Equity | 10/15 | €3,593,206 | €3,783,215 | +€190,009 | +5.3% |
| Contributions | 10/11 | €4,127,174 | €4,127,174 | = | 0.0% |
| Reserves | 13 | €568 | €568 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28 | €28 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28 | €28 | = | 0.0% |
| Tax-exempt reserves | 132 | €540 | €540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€534,536 | -€344,527 | +€190,009 | +35.5% |
| Amounts payable | 17/49 | €6,946,809 | €6,411,951 | -€534,858 | -7.7% |
| Amounts payable after more than one year | 17 | €2,594,231 | €2,342,383 | -€251,848 | -9.7% |
| Financial debts | 170/4 | €2,594,231 | €2,342,383 | -€251,848 | -9.7% |
| Credit institutions | 173 | €2,594,231 | €2,342,383 | -€251,848 | -9.7% |
| Amounts payable within one year | 42/48 | €4,352,578 | €4,068,850 | -€283,727 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €241,619 | €251,848 | +€10,229 | +4.2% |
| Financial debts | 43 | €229,000 | €0 | -€229,000 | -100% |
| Credit institutions | 430/8 | €229,000 | €0 | -€229,000 | -100% |
| Trade debts | 44 | €9,008 | €28,233 | +€19,225 | +213% |
| Suppliers | 440/4 | €9,008 | €28,233 | +€19,225 | +213% |
| Taxes, remuneration and social security | 45 | €13,311 | €13,010 | -€301 | -2.3% |
| Taxes | 450/3 | €13,311 | €13,010 | -€301 | -2.3% |
| Other amounts payable | 47/48 | €3,859,639 | €3,775,759 | -€83,880 | -2.2% |
| Accrued charges and deferred income | 492/3 | - | €718 | +€718 | |
| Operating income | 70/76A | €963,443 | €915,333 | -€48,110 | -5.0% |
| Turnover | 70 | €934,057 | €896,685 | -€37,372 | -4.0% |
| Other operating income | 74 | €29,386 | €18,648 | -€10,738 | -36.5% |
| Operating charges | 60/66A | €677,767 | €605,857 | -€71,911 | -10.6% |
| Services and other goods | 61 | €187,551 | €131,674 | -€55,877 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €445,568 | €447,397 | +€1,830 | +0.4% |
| Other operating charges | 640/8 | €24,641 | €26,785 | +€2,144 | +8.7% |
| Non-recurring operating charges | 66A | €20,008 | €0 | -€20,008 | -100% |
| Operating profit (loss) | 9901 | €285,676 | €309,477 | +€23,801 | +8.3% |
| Financial income | 75/76B | €2,332 | €0 | -€2,332 | -100.0% |
| Recurring financial income | 75 | €2,332 | €0 | -€2,332 | -100.0% |
| Other financial income | 752/9 | €2,332 | €0 | -€2,332 | -100.0% |
| Financial charges | 65/66B | €238,544 | €119,468 | -€119,077 | -49.9% |
| Recurring financial charges | 65 | €238,544 | €119,468 | -€119,077 | -49.9% |
| Debt charges | 650 | €237,095 | €118,967 | -€118,128 | -49.8% |
| Other financial charges | 652/9 | €1,449 | €501 | -€949 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | €49,464 | €190,009 | +€140,545 | +284% |
| Income taxes | 67/77 | €0 | - | = | |
| Taxes | 670/3 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €49,464 | €190,009 | +€140,545 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €49,464 | €190,009 | +€140,545 | +284% |
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 27 October 2026 via checked.be.