VACA Immo Houffalize: 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
VACA Immo Houffalize
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€994,277
2024 · -€991,538-€2,739
Equity
€18.2m
2024 · €18.6m-€438,519
Cash
€966,597
2024 · €406,156+€560,441
Balance sheet total
€24.6m
2024 · €24.9m-€337,656
Largest movements
Assets
- Tangible fixed assets -€931,560
down €931,560 (-4.1%), from €22.6m to €21.7m
of which Land and buildings: -€756,368
- Cash +€560,441
up €560,441 (+138%), from €406,156 to €966,597
mainly Depreciation (+€1.8m) and Contributions, distributions and other (+€555,758)
Equity and liabilities
- Profit (loss) carried forward -€994,277
down €994,277 (-2.3%), from -€43.0m to -€44.0m
- Investment grants +€555,758
up €555,758 (+17.8%), from €3.1m to €3.7m
Income statement
- Services and other goods +€57,447
up €57,447 (+11.0%), from €522,761 to €580,208
- Turnover +€33,396
up €33,396 (+3.2%), from €1.0m to €1.1m
- Depreciation -€14,340
down €14,340 (-0.8%), from €1.8m to €1.8m
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
-€991,538
Turnover
+€33,396
Other operating income
+€7,873
Services and other goods
-€57,447
Depreciation
+€14,340
Other operating charges
-€5,790
Other operating items
+€5,044
Financial charges
-€157
Result 2025
-€994,277
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
+€830,987
Investment
-€826,304
Financing
+€555,758
Cash 2024
€406,156
From operations (derived)
+€830,987
Net result for the year
-€994,277
Depreciation
+€1.8m
Receivables within one year
-€10,270
Deferred charges and accrued income
-€23,193
Trade debts
+€100,863
Investment (derived)
-€826,304
Investment in fixed assets (net)
-€826,304
Financing
+€555,758
Contributions, distributions and other
+€555,758
Cash 2025
€966,597
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,935,814 | €24,598,158 | -€337,656 | -1.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €22,617,915 | €21,686,354 | -€931,560 | -4.1% |
| Tangible fixed assets | 22/27 | €22,617,853 | €21,686,293 | -€931,560 | -4.1% |
| Land and buildings | 22 | €16,837,896 | €16,081,528 | -€756,368 | -4.5% |
| Plant, machinery and equipment | 23 | €4,700,630 | €4,049,229 | -€651,401 | -13.9% |
| Assets under construction and advance payments | 27 | €1,079,328 | €1,555,536 | +€476,208 | +44.1% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Affiliated companies | 280/1 | €62 | €62 | = | 0.0% |
| Participating interests | 280 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €2,317,899 | €2,911,803 | +€593,904 | +25.6% |
| Amounts receivable within one year | 40/41 | €7,017 | €17,287 | +€10,270 | +146% |
| Trade receivables | 40 | €3,415 | - | -€3,415 | |
| Other amounts receivable | 41 | €3,602 | €17,287 | +€13,685 | +380% |
| Current investments | 50/53 | €1,851,483 | €1,851,483 | = | 0.0% |
| Other investments | 51/53 | €1,851,483 | €1,851,483 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €406,156 | €966,597 | +€560,441 | +138% |
| Deferred charges and accrued income | 490/1 | €53,243 | €76,436 | +€23,193 | +43.6% |
| Total equity and liabilities | 10/49 | €24,935,814 | €24,598,158 | -€337,656 | -1.4% |
| Equity | 10/15 | €18,602,283 | €18,163,764 | -€438,519 | -2.4% |
| Contributions | 10/11 | €58,513,999 | €58,513,999 | = | 0.0% |
| Reserves | 13 | €243 | €243 | = | 0.0% |
| Non-distributable reserves | 130/1 | €243 | €243 | = | 0.0% |
| Reserves not available under the articles | 1311 | €243 | €243 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,030,517 | -€44,024,794 | -€994,277 | -2.3% |
| Investment grants | 15 | €3,118,559 | €3,674,317 | +€555,758 | +17.8% |
| Amounts payable | 17/49 | €6,333,531 | €6,434,394 | +€100,863 | +1.6% |
| Amounts payable within one year | 42/48 | €6,333,531 | €6,434,394 | +€100,863 | +1.6% |
| Trade debts | 44 | €233,531 | €334,394 | +€100,863 | +43.2% |
| Suppliers | 440/4 | €233,531 | €334,394 | +€100,863 | +43.2% |
| Other amounts payable | 47/48 | €6,100,000 | €6,100,000 | = | 0.0% |
| Operating income | 70/76A | €1,383,085 | €1,429,399 | +€46,314 | +3.3% |
| Turnover | 70 | €1,030,032 | €1,063,428 | +€33,396 | +3.2% |
| Other operating income | 74 | €3,233 | €11,107 | +€7,873 | +244% |
| Non-recurring operating income | 76A | €349,820 | €354,864 | +€5,044 | +1.4% |
| Operating charges | 60/66A | €2,485,163 | €2,534,059 | +€48,896 | +2.0% |
| Services and other goods | 61 | €522,761 | €580,208 | +€57,447 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,772,204 | €1,757,864 | -€14,340 | -0.8% |
| Other operating charges | 640/8 | €190,198 | €195,987 | +€5,790 | +3.0% |
| Operating profit (loss) | 9901 | -€1,102,078 | -€1,104,660 | -€2,582 | -0.2% |
| Financial income | 75/76B | €114,120 | €114,120 | = | 0.0% |
| Recurring financial income | 75 | €114,120 | €114,120 | = | 0.0% |
| Other financial income | 752/9 | €114,120 | €114,120 | = | 0.0% |
| Financial charges | 65/66B | €3,580 | €3,736 | +€157 | +4.4% |
| Recurring financial charges | 65 | €3,580 | €3,736 | +€157 | +4.4% |
| Other financial charges | 652/9 | €3,580 | €3,736 | +€157 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€991,538 | -€994,277 | -€2,739 | -0.3% |
| Profit (loss) for the period | 9904 | -€991,538 | -€994,277 | -€2,739 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€991,538 | -€994,277 | -€2,739 | -0.3% |
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 23 October 2026 via checked.be.