VDR 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.
VDR IMMO
Largest movements
- Tangible fixed assets -€15,971
down €15,971 (-3.2%), from €492,561 to €476,590
- Debts after one year -€28,758
down €28,758 (-9.9%), from €291,651 to €262,893
of which Financial debts: -€28,758
- Profit (loss) carried forward +€17,495
up €17,495 (+34.8%), from €50,273 to €67,767
- Gross operating margin +€1,627
up €1,627 (+3.3%), from €49,611 to €51,238
- Financial charges -€1,432
down €1,432 (-19.2%), from €7,449 to €6,017
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 | €510,216 | €496,435 | -€13,780 | -2.7% |
| Fixed assets | 21/28 | €492,561 | €476,590 | -€15,971 | -3.2% |
| Tangible fixed assets | 22/27 | €492,561 | €476,590 | -€15,971 | -3.2% |
| Land and buildings | 22 | €492,561 | €476,590 | -€15,971 | -3.2% |
| Current assets | 29/58 | €17,655 | €19,846 | +€2,191 | +12.4% |
| Cash at bank and in hand | 54/58 | €17,655 | €19,846 | +€2,191 | +12.4% |
| Total equity and liabilities | 10/49 | €510,216 | €496,435 | -€13,780 | -2.7% |
| Equity | 10/15 | €132,972 | €150,467 | +€17,495 | +13.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €70,200 | €70,200 | = | 0.0% |
| Distributable reserves | 133 | €70,200 | €70,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,273 | €67,767 | +€17,495 | +34.8% |
| Provisions and deferred taxes | 16 | €49,135 | €49,135 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €49,135 | €49,135 | = | 0.0% |
| Major repairs and maintenance | 162 | €49,135 | €49,135 | = | 0.0% |
| Amounts payable | 17/49 | €328,108 | €296,833 | -€31,275 | -9.5% |
| Amounts payable after more than one year | 17 | €291,651 | €262,893 | -€28,758 | -9.9% |
| Financial debts | 170/4 | €93,849 | €65,090 | -€28,758 | -30.6% |
| Other amounts payable | 178/9 | €197,803 | €197,803 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,657 | €29,590 | -€3,067 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €27,260 | €28,758 | +€1,499 | +5.5% |
| Taxes, remuneration and social security | 45 | €5,397 | €832 | -€4,565 | -84.6% |
| Taxes | 450/3 | €5,397 | €832 | -€4,565 | -84.6% |
| Accrued charges and deferred income | 492/3 | €3,800 | €4,350 | +€550 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,971 | €15,971 | = | 0.0% |
| Other operating charges | 640/8 | €5,968 | €5,923 | -€45 | -0.8% |
| Gross operating margin | 9900 | €49,611 | €51,238 | +€1,627 | +3.3% |
| Operating profit (loss) | 9901 | €27,671 | €29,344 | +€1,672 | +6.0% |
| Financial charges | 65/66B | €7,449 | €6,017 | -€1,432 | -19.2% |
| Recurring financial charges | 65 | €7,449 | €6,017 | -€1,432 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €20,222 | €23,326 | +€3,104 | +15.3% |
| Income taxes | 67/77 | €5,397 | €5,832 | +€435 | +8.1% |
| Profit (loss) for the period | 9904 | €14,826 | €17,495 | +€2,669 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,826 | €17,495 | +€2,669 | +18.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.