VDL 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.
VDL IMMO
Largest movements
- Cash +€220,837
up €220,837 (+617.2%), from €35,779 to €256,616
mainly Other debts (+€194,530) and Net result for the year (+€20,085)
- Other debts +€194,530
up €194,530 (+654.7%), from €29,711 to €224,241
- Reserves +€20,085
up €20,085 (+7.4%), from €272,464 to €292,549
- Tax, wage and social debts +€6,079
up €6,079 (+59.5%), from €10,222 to €16,302
- Gross operating margin +€9,606
up €9,606 (+39.4%), from €24,352 to €33,958
- Taxes +€3,759
up €3,759 (+59.8%), from €6,281 to €10,040
- Depreciation -€558
down €558 (-79.7%), from €700 to €142
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 | €315,844 | €536,538 | +€220,695 | +69.9% |
| Fixed assets | 21/28 | €280,064 | €279,922 | -€142 | -0.1% |
| Tangible fixed assets | 22/27 | €32,171 | €32,029 | -€142 | -0.4% |
| Land and buildings | 22 | €32,171 | €32,029 | -€142 | -0.4% |
| Financial fixed assets | 28 | €247,894 | €247,894 | = | 0.0% |
| Current assets | 29/58 | €35,779 | €256,616 | +€220,837 | +617.2% |
| Cash at bank and in hand | 54/58 | €35,779 | €256,616 | +€220,837 | +617.2% |
| Total equity and liabilities | 10/49 | €315,844 | €536,538 | +€220,695 | +69.9% |
| Equity | 10/15 | €274,964 | €295,049 | +€20,085 | +7.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €272,464 | €292,549 | +€20,085 | +7.4% |
| Distributable reserves | 133 | €272,464 | €292,549 | +€20,085 | +7.4% |
| Amounts payable | 17/49 | €40,879 | €241,489 | +€200,610 | +490.7% |
| Amounts payable within one year | 42/48 | €40,879 | €241,489 | +€200,610 | +490.7% |
| Trade debts | 44 | €946 | €946 | = | 0.0% |
| Suppliers | 440/4 | €946 | €946 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,222 | €16,302 | +€6,079 | +59.5% |
| Taxes | 450/3 | €10,222 | €16,302 | +€6,079 | +59.5% |
| Other amounts payable | 47/48 | €29,711 | €224,241 | +€194,530 | +654.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €142 | -€558 | -79.7% |
| Other operating charges | 640/8 | €3,433 | €3,538 | +€105 | +3.1% |
| Gross operating margin | 9900 | €24,352 | €33,958 | +€9,606 | +39.4% |
| Operating profit (loss) | 9901 | €20,220 | €30,278 | +€10,059 | +49.7% |
| Financial charges | 65/66B | €153 | €153 | +€0 | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €20,066 | €30,125 | +€10,059 | +50.1% |
| Income taxes | 67/77 | €6,281 | €10,040 | +€3,759 | +59.8% |
| Profit (loss) for the period | 9904 | €13,785 | €20,085 | +€6,300 | +45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,785 | €20,085 | +€6,300 | +45.7% |
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 1 October 2026 via checked.be.