VCV 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.
VCV IMMO
Largest movements
- Tangible fixed assets +€609,176
up €609,176 (+107.4%), from €567,405 to €1.2m
of which Land and buildings: +€609,974
- Cash -€137,221
down €137,221 (-40.1%), from €342,126 to €204,905
mainly Investment in fixed assets (net) (-€746,684) and Contributions, distributions and other (-€150,000)
- Receivables within one year +€19,920
up €19,920 (+201.2%), from €9,900 to €29,820
- Other debts +€700,243
up €700,243 (+157.2%), from €445,467 to €1.1m
- Reserves -€210,000
down €210,000 (-59.0%), from €355,732 to €145,732
of which Distributable reserves: -€210,000
- Depreciation +€105,129
up €105,129 (+324.7%), from €32,379 to €137,508
- Financial charges +€33,617
up €33,617 (+86087.9%), from €39 to €33,656
- Taxes -€13,863
down €13,863 (-53.8%), from €25,786 to €11,923
- Gross operating margin +€13,846
up €13,846 (+9.9%), from €139,689 to €153,535
- Other operating charges +€2,556
up €2,556 (+9.6%), from €26,591 to €29,147
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 | €919,431 | €1,411,307 | +€491,875 | +53.5% |
| Fixed assets | 21/28 | €567,405 | €1,176,581 | +€609,176 | +107.4% |
| Tangible fixed assets | 22/27 | €567,405 | €1,176,581 | +€609,176 | +107.4% |
| Land and buildings | 22 | €560,028 | €1,170,002 | +€609,974 | +108.9% |
| Plant, machinery and equipment | 23 | €7,377 | €6,579 | -€798 | -10.8% |
| Current assets | 29/58 | €352,026 | €234,725 | -€117,301 | -33.3% |
| Amounts receivable within one year | 40/41 | €9,900 | €29,820 | +€19,920 | +201.2% |
| Other amounts receivable | 41 | €9,900 | €29,820 | +€19,920 | +201.2% |
| Cash at bank and in hand | 54/58 | €342,126 | €204,905 | -€137,221 | -40.1% |
| Total equity and liabilities | 10/49 | €919,431 | €1,411,307 | +€491,875 | +53.5% |
| Equity | 10/15 | €443,541 | €234,842 | -€208,699 | -47.1% |
| Contributions | 10/11 | €87,325 | €87,325 | = | 0.0% |
| Capital | 10 | €87,325 | €87,325 | = | 0.0% |
| Issued capital | 100 | €87,325 | €87,325 | = | 0.0% |
| Reserves | 13 | €355,732 | €145,732 | -€210,000 | -59.0% |
| Non-distributable reserves | 130/1 | €8,732 | €8,732 | = | 0.0% |
| Legal reserve | 130 | €8,732 | €8,732 | = | 0.0% |
| Distributable reserves | 133 | €347,000 | €137,000 | -€210,000 | -60.5% |
| Profit (loss) carried forward | 14 | €484 | €1,785 | +€1,301 | +268.8% |
| Amounts payable | 17/49 | €475,890 | €1,176,464 | +€700,574 | +147.2% |
| Amounts payable within one year | 42/48 | €475,890 | €1,176,464 | +€700,574 | +147.2% |
| Trade debts | 44 | €98 | €1,218 | +€1,120 | +1139.3% |
| Suppliers | 440/4 | €98 | €1,218 | +€1,120 | +1139.3% |
| Taxes, remuneration and social security | 45 | €30,325 | €29,537 | -€788 | -2.6% |
| Taxes | 450/3 | €30,325 | €29,537 | -€788 | -2.6% |
| Other amounts payable | 47/48 | €445,467 | €1,145,710 | +€700,243 | +157.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,379 | €137,508 | +€105,129 | +324.7% |
| Other operating charges | 640/8 | €26,591 | €29,147 | +€2,556 | +9.6% |
| Gross operating margin | 9900 | €139,689 | €153,535 | +€13,846 | +9.9% |
| Operating profit (loss) | 9901 | €80,718 | -€13,120 | -€93,839 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €33,656 | +€33,617 | +86087.9% |
| Recurring financial charges | 65 | €39 | €33,656 | +€33,617 | +86087.9% |
| Profit (loss) for the period before taxes | 9903 | €80,679 | -€46,777 | -€127,456 | |
| Income taxes | 67/77 | €25,786 | €11,923 | -€13,863 | -53.8% |
| Profit (loss) for the period | 9904 | €54,893 | -€58,699 | -€113,593 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,893 | -€58,699 | -€113,593 |
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 2 October 2026 via checked.be.