VAL'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.
VAL'IMMO
Largest movements
- Tangible fixed assets -€13,783
down €13,783 (-5.2%), from €267,045 to €253,261
of which Land and buildings: -€13,559
- Debts after one year -€15,362
down €15,362 (-8.3%), from €184,346 to €168,983
- Reserves +€3,016
up €3,016 (+7.3%), from €41,500 to €44,516
of which Distributable reserves: +€3,016
- Gross operating margin -€3,660
down €3,660 (-12.9%), from €28,298 to €24,638
- Taxes -€1,686
down €1,686 (-67.9%), from €2,484 to €798
- Financial charges -€678
down €678 (-15.6%), from €4,343 to €3,665
- Depreciation +€608
up €608 (+4.6%), from €13,176 to €13,783
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 | €274,790 | €264,180 | -€10,610 | -3.9% |
| Fixed assets | 21/28 | €267,045 | €255,344 | -€11,701 | -4.4% |
| Tangible fixed assets | 22/27 | €267,045 | €253,261 | -€13,783 | -5.2% |
| Land and buildings | 22 | €266,821 | €253,261 | -€13,559 | -5.1% |
| Furniture and vehicles | 24 | €224 | €0 | -€224 | -100.0% |
| Financial fixed assets | 28 | - | €2,082 | +€2,082 | |
| Current assets | 29/58 | €7,745 | €8,836 | +€1,092 | +14.1% |
| Amounts receivable within one year | 40/41 | €841 | €338 | -€503 | -59.8% |
| Trade receivables | 40 | €841 | €338 | -€503 | -59.8% |
| Cash at bank and in hand | 54/58 | €6,308 | €7,873 | +€1,565 | +24.8% |
| Deferred charges and accrued income | 490/1 | €596 | €625 | +€29 | +4.9% |
| Total equity and liabilities | 10/49 | €274,790 | €264,180 | -€10,610 | -3.9% |
| Equity | 10/15 | €62,717 | €65,733 | +€3,016 | +4.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €41,500 | €44,516 | +€3,016 | +7.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €41,500 | €44,516 | +€3,016 | +7.3% |
| Profit (loss) carried forward | 14 | €1,217 | €1,217 | = | 0.0% |
| Amounts payable | 17/49 | €212,072 | €198,447 | -€13,626 | -6.4% |
| Amounts payable after more than one year | 17 | €184,346 | €168,983 | -€15,362 | -8.3% |
| Financial debts | 170/4 | €184,346 | €168,983 | -€15,362 | -8.3% |
| Amounts payable within one year | 42/48 | €24,657 | €26,555 | +€1,899 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €15,533 | €15,362 | -€170 | -1.1% |
| Trade debts | 44 | €273 | €776 | +€503 | +184.3% |
| Suppliers | 440/4 | €273 | €776 | +€503 | +184.3% |
| Taxes, remuneration and social security | 45 | €3,138 | €3,590 | +€451 | +14.4% |
| Taxes | 450/3 | €3,138 | €3,590 | +€451 | +14.4% |
| Other amounts payable | 47/48 | €5,713 | €6,828 | +€1,115 | +19.5% |
| Accrued charges and deferred income | 492/3 | €3,070 | €2,908 | -€162 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,176 | €13,783 | +€608 | +4.6% |
| Other operating charges | 640/8 | €3,314 | €3,375 | +€61 | +1.8% |
| Gross operating margin | 9900 | €28,298 | €24,638 | -€3,660 | -12.9% |
| Operating profit (loss) | 9901 | €11,809 | €7,480 | -€4,329 | -36.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,343 | €3,665 | -€678 | -15.6% |
| Recurring financial charges | 65 | €4,343 | €3,665 | -€678 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €7,466 | €3,814 | -€3,651 | -48.9% |
| Income taxes | 67/77 | €2,484 | €798 | -€1,686 | -67.9% |
| Profit (loss) for the period | 9904 | €4,981 | €3,016 | -€1,965 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,981 | €3,016 | -€1,965 | -39.5% |
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 9 October 2026 via checked.be.