VDH-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.
VDH-IMMO
Largest movements
- Receivables within one year +€41,470
up €41,470 (+20.2%), from €204,964 to €246,435
- Other debts +€150,138
up €150,138 (+97.8%), from €153,593 to €303,730
- Profit (loss) carried forward -€50,184
down €50,184 (-94.2%), from -€53,252 to -€103,436
- Current portion of long-term debt -€35,280
no longer reported in 2025 (was €35,280)
- Debts after one year -€23,200
down €23,200 (-20.7%), from €112,338 to €89,138
- Depreciation -€32,478
no longer reported in 2025 (was €32,478)
- Financial charges +€23,504
up €23,504 (+390.7%), from €6,016 to €29,520
- Turnover -€8,802
no longer reported in 2025 (was €8,802)
- Gross operating margin -€6,150
down €6,150, from €4,283 to -€1,867
- Purchases and services -€4,519
no longer reported in 2025 (was €4,519)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €537,893 | €579,363 | +€41,470 | +7.7% |
| Fixed assets | 21/28 | €332,928 | €332,928 | = | 0.0% |
| Tangible fixed assets | 22/27 | €332,928 | €332,928 | = | 0.0% |
| Land and buildings | 22 | €297,183 | €297,183 | = | 0.0% |
| Plant, machinery and equipment | 23 | €35,746 | €35,746 | = | 0.0% |
| Current assets | 29/58 | €204,964 | €246,435 | +€41,470 | +20.2% |
| Amounts receivable within one year | 40/41 | €204,964 | €246,435 | +€41,470 | +20.2% |
| Other amounts receivable | 41 | €204,964 | €246,435 | +€41,470 | +20.2% |
| Total equity and liabilities | 10/49 | €537,893 | €579,363 | +€41,470 | +7.7% |
| Equity | 10/15 | €219,432 | €169,248 | -€50,184 | -22.9% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €24,789 | €24,789 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,252 | -€103,436 | -€50,184 | -94.2% |
| Amounts payable | 17/49 | €318,461 | €410,115 | +€91,654 | +28.8% |
| Amounts payable after more than one year | 17 | €112,338 | €89,138 | -€23,200 | -20.7% |
| Financial debts | 170/4 | €112,338 | €89,138 | -€23,200 | -20.7% |
| Amounts payable within one year | 42/48 | €206,123 | €320,977 | +€114,854 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | €35,280 | - | -€35,280 | |
| Taxes, remuneration and social security | 45 | €17,250 | €17,246 | -€4 | 0.0% |
| Taxes | 450/3 | €17,250 | €17,246 | -€4 | 0.0% |
| Other amounts payable | 47/48 | €153,593 | €303,730 | +€150,138 | +97.8% |
| Turnover | 70 | €8,802 | - | -€8,802 | |
| Goods, raw materials, services and sundry goods | 60/61 | €4,519 | - | -€4,519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,478 | - | -€32,478 | |
| Other operating charges | 640/8 | €22,126 | €18,797 | -€3,329 | -15.0% |
| Gross operating margin | 9900 | €4,283 | -€1,867 | -€6,150 | |
| Operating profit (loss) | 9901 | -€50,321 | -€20,664 | +€29,657 | +58.9% |
| Financial charges | 65/66B | €6,016 | €29,520 | +€23,504 | +390.7% |
| Recurring financial charges | 65 | €6,016 | €29,520 | +€23,504 | +390.7% |
| Profit (loss) for the period before taxes | 9903 | -€56,338 | -€50,184 | +€6,154 | +10.9% |
| Profit (loss) for the period | 9904 | -€56,338 | -€50,184 | +€6,154 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,338 | -€50,184 | +€6,154 | +10.9% |
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.