Vaart in 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.
What changed
Vaart in Immo
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€171,054
2024 · €152,926+€18,128
Equity
-€337,324
2024 · -€508,378+€171,054
Cash
€114,576
2024 · €93,499+€21,077
Balance sheet total
€2.5m
2024 · €2.4m+€83,948
Largest movements
Assets
- Stocks and contracts +€51,935
up €51,935 (+74.8%), from €69,421 to €121,356
Equity and liabilities
- Profit (loss) carried forward +€171,054
up €171,054 (+27.2%), from -€628,378 to -€457,324
- Debts after one year -€125,000
down €125,000 (-4.6%), from €2.7m to €2.6m
- Accrued charges and deferred income +€39,010
up €39,010 (+186%), from €20,966 to €59,976
Income statement
- Gross operating margin +€18,149
up €18,149 (+7.0%), from €260,137 to €278,286
- Depreciation +€4,267
up €4,267 (+6.8%), from €62,870 to €67,136
- Financial charges -€3,601
down €3,601 (-8.3%), from €43,171 to €39,570
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
€152,926
Gross operating margin
+€18,149
Depreciation
-€4,267
Other operating charges
-€668
Financial income
+€1,313
Financial charges
+€3,601
Result 2025
€171,054
raises the resultlowers the result
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
+€228,143
Investment
-€82,066
Financing
-€125,000
Cash 2024
€93,499
From operations (derived)
+€228,143
Net result for the year
+€171,054
Depreciation
+€67,136
Stocks and contracts
-€51,935
Receivables within one year
+€2,241
Deferred charges and accrued income
+€1,753
Trade debts
-€79
Tax, wage and social debts
-€4,037
Advances received
+€3,000
Accrued charges and deferred income
+€39,010
Investment (derived)
-€82,066
Investment in fixed assets (net)
-€82,066
Financing
-€125,000
Debts after one year
-€125,000
Cash 2025
€114,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,381,709 | €2,465,657 | +€83,948 | +3.5% |
| Fixed assets | 21/28 | €2,106,164 | €2,121,093 | +€14,929 | +0.7% |
| Tangible fixed assets | 22/27 | €2,046,164 | €2,061,093 | +€14,929 | +0.7% |
| Land and buildings | 22 | €2,017,682 | €2,005,147 | -€12,536 | -0.6% |
| Plant, machinery and equipment | 23 | €28,481 | €28,456 | -€25 | -0.1% |
| Other tangible fixed assets | 26 | - | €27,491 | +€27,491 | |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €275,545 | €344,564 | +€69,019 | +25.0% |
| Stocks and contracts in progress | 3 | €69,421 | €121,356 | +€51,935 | +74.8% |
| Stocks | 30/36 | €69,421 | €121,356 | +€51,935 | +74.8% |
| Amounts receivable within one year | 40/41 | €109,068 | €106,827 | -€2,241 | -2.1% |
| Trade receivables | 40 | €6,196 | €4,709 | -€1,487 | -24.0% |
| Other amounts receivable | 41 | €102,872 | €102,118 | -€754 | -0.7% |
| Cash at bank and in hand | 54/58 | €93,499 | €114,576 | +€21,077 | +22.5% |
| Deferred charges and accrued income | 490/1 | €3,557 | €1,804 | -€1,753 | -49.3% |
| Total equity and liabilities | 10/49 | €2,381,709 | €2,465,657 | +€83,948 | +3.5% |
| Equity | 10/15 | -€508,378 | -€337,324 | +€171,054 | +33.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€628,378 | -€457,324 | +€171,054 | +27.2% |
| Amounts payable | 17/49 | €2,890,087 | €2,802,981 | -€87,105 | -3.0% |
| Amounts payable after more than one year | 17 | €2,725,803 | €2,600,803 | -€125,000 | -4.6% |
| Financial debts | 170/4 | €2,725,803 | €2,600,803 | -€125,000 | -4.6% |
| Amounts payable within one year | 42/48 | €143,318 | €142,202 | -€1,116 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €4,768 | €4,689 | -€79 | -1.7% |
| Suppliers | 440/4 | €4,768 | €4,689 | -€79 | -1.7% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €13,471 | €9,434 | -€4,037 | -30.0% |
| Taxes | 450/3 | €13,471 | €9,434 | -€4,037 | -30.0% |
| Other amounts payable | 47/48 | €80 | €80 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20,966 | €59,976 | +€39,010 | +186% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,870 | €67,136 | +€4,267 | +6.8% |
| Other operating charges | 640/8 | €1,171 | €1,838 | +€668 | +57.0% |
| Gross operating margin | 9900 | €260,137 | €278,286 | +€18,149 | +7.0% |
| Operating profit (loss) | 9901 | €196,097 | €209,311 | +€13,215 | +6.7% |
| Financial income | 75/76B | €0 | €1,313 | +€1,313 | +13,125,400% |
| Recurring financial income | 75 | €0 | €1,313 | +€1,313 | +13,125,400% |
| Financial charges | 65/66B | €43,171 | €39,570 | -€3,601 | -8.3% |
| Recurring financial charges | 65 | €43,171 | €39,570 | -€3,601 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €152,926 | €171,054 | +€18,128 | +11.9% |
| Profit (loss) for the period | 9904 | €152,926 | €171,054 | +€18,128 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €152,926 | €171,054 | +€18,128 | +11.9% |
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 28 October 2026 via checked.be.