VDG 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.
VDG IMMO
Largest movements
- Cash +€13,442
up €13,442 (+170.6%), from €7,877 to €21,318
mainly Net result for the year (+€15,152) and Depreciation (+€5,141)
- Receivables within one year +€5,295
up €5,295 (+13.8%), from €38,342 to €43,636
- Intangible fixed assets -€5,000
down €5,000 (-27.3%), from €18,329 to €13,329
- Reserves +€15,152
up €15,152 (+143.0%), from €10,596 to €25,749
- Tax, wage and social debts -€1,558
down €1,558 (-50.4%), from €3,092 to €1,534
- Gross operating margin +€8,815
up €8,815 (+51.4%), from €17,133 to €25,948
- Taxes +€1,972
up €1,972 (+63.8%), from €3,092 to €5,064
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 | €114,688 | €128,283 | +€13,595 | +11.9% |
| Formation expenses | 20 | €141 | €0 | -€141 | -100.0% |
| Fixed assets | 21/28 | €68,329 | €63,329 | -€5,000 | -7.3% |
| Intangible fixed assets | 21 | €18,329 | €13,329 | -€5,000 | -27.3% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €46,218 | €64,955 | +€18,736 | +40.5% |
| Amounts receivable within one year | 40/41 | €38,342 | €43,636 | +€5,295 | +13.8% |
| Other amounts receivable | 41 | €38,342 | €43,636 | +€5,295 | +13.8% |
| Cash at bank and in hand | 54/58 | €7,877 | €21,318 | +€13,442 | +170.6% |
| Total equity and liabilities | 10/49 | €114,688 | €128,283 | +€13,595 | +11.9% |
| Equity | 10/15 | €16,596 | €31,749 | +€15,152 | +91.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €10,596 | €25,749 | +€15,152 | +143.0% |
| Distributable reserves | 133 | €10,596 | €25,749 | +€15,152 | +143.0% |
| Amounts payable | 17/49 | €98,092 | €96,534 | -€1,558 | -1.6% |
| Amounts payable within one year | 42/48 | €98,092 | €96,534 | -€1,558 | -1.6% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,092 | €1,534 | -€1,558 | -50.4% |
| Taxes | 450/3 | €3,092 | €1,534 | -€1,558 | -50.4% |
| Other amounts payable | 47/48 | €95,000 | €95,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,212 | €5,141 | -€70 | -1.3% |
| Other operating charges | 640/8 | €535 | €550 | +€14 | +2.7% |
| Gross operating margin | 9900 | €17,133 | €25,948 | +€8,815 | +51.4% |
| Operating profit (loss) | 9901 | €11,386 | €20,256 | +€8,871 | +77.9% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €11,347 | €20,216 | +€8,869 | +78.2% |
| Income taxes | 67/77 | €3,092 | €5,064 | +€1,972 | +63.8% |
| Profit (loss) for the period | 9904 | €8,255 | €15,152 | +€6,898 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,255 | €15,152 | +€6,898 | +83.6% |
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 5 October 2026 via checked.be.