VDS Immo: what changed
Two financial 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.
VDS Immo
Largest movements
- Receivables within one year -€667,698
down €667,698 (-88.4%), from €755,140 to €87,442
of which Other amounts receivable: -€655,568
- Cash -€174,445
down €174,445 (-60.2%), from €289,939 to €115,494
mainly Other debts (-€900,000) and Deferred charges and accrued income (-€6,035)
- Tangible fixed assets -€69,764
down €69,764 (-9.4%), from €743,158 to €673,393
of which Land and buildings: -€69,764
- Other debts -€900,000
down €900,000 (-100%), from €900,000 to €0
- Gross operating margin -€2.4m
down €2.4m (-96.3%), from €2.4m to €90,316
- Taxes -€515,846
down €515,846, from €515,822 to -€23
- Staff costs -€53,338
down €53,338 (-100%), from €53,338 to €0
- Financial income -€40,207
down €40,207 (-92.1%), from €43,643 to €3,436
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.
Derived cash bridge
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 | €1,794,322 | €882,910 | -€911,412 | -50.8% |
| Fixed assets | 21/28 | €749,243 | €673,939 | -€75,304 | -10.1% |
| Tangible fixed assets | 22/27 | €743,158 | €673,393 | -€69,764 | -9.4% |
| Land and buildings | 22 | €743,158 | €673,393 | -€69,764 | -9.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €6,085 | €545 | -€5,540 | -91.0% |
| Current assets | 29/58 | €1,045,079 | €208,971 | -€836,108 | -80.0% |
| Amounts receivable within one year | 40/41 | €755,140 | €87,442 | -€667,698 | -88.4% |
| Trade receivables | 40 | €12,338 | €207 | -€12,130 | -98.3% |
| Other amounts receivable | 41 | €742,802 | €87,235 | -€655,568 | -88.3% |
| Cash at bank and in hand | 54/58 | €289,939 | €115,494 | -€174,445 | -60.2% |
| Deferred charges and accrued income | 490/1 | €0 | €6,035 | +€6,035 | |
| Total equity and liabilities | 10/49 | €1,794,322 | €882,910 | -€911,412 | -50.8% |
| Equity | 10/15 | €880,227 | €877,583 | -€2,645 | -0.3% |
| Contributions | 10/11 | €71,927 | €71,927 | = | 0.0% |
| Revaluation surpluses | 12 | €82,884 | €82,884 | = | 0.0% |
| Reserves | 13 | €725,416 | €722,771 | -€2,645 | -0.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €124,890 | €124,890 | = | 0.0% |
| Distributable reserves | 133 | €600,526 | €597,881 | -€2,645 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €914,095 | €5,327 | -€908,768 | -99.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €914,095 | €5,327 | -€908,768 | -99.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,353 | €2,951 | -€2,402 | -44.9% |
| Suppliers | 440/4 | €5,353 | €2,951 | -€2,402 | -44.9% |
| Advances received on contracts in progress | 46 | €3,121 | €0 | -€3,121 | -100% |
| Taxes, remuneration and social security | 45 | €5,621 | €2,376 | -€3,245 | -57.7% |
| Taxes | 450/3 | €0 | €245 | +€245 | |
| Remuneration and social security | 454/9 | €5,621 | €2,131 | -€3,490 | -62.1% |
| Other amounts payable | 47/48 | €900,000 | €0 | -€900,000 | -100% |
| Non-recurring operating income | 76A | €2,557,174 | €0 | -€2.6m | -100% |
| Remuneration, social security and pensions | 62 | €53,338 | €0 | -€53,338 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,764 | €69,764 | = | 0.0% |
| Other operating charges | 640/8 | €26,409 | €23,581 | -€2,828 | -10.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,440,509 | €90,316 | -€2.4m | -96.3% |
| Operating profit (loss) | 9901 | €2,290,998 | -€3,030 | -€2.3m | |
| Financial income | 75/76B | €43,643 | €3,436 | -€40,207 | -92.1% |
| Recurring financial income | 75 | €43,643 | €3,436 | -€40,207 | -92.1% |
| Financial charges | 65/66B | €8,842 | €3,074 | -€5,768 | -65.2% |
| Recurring financial charges | 65 | €8,842 | €3,074 | -€5,768 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €2,325,798 | -€2,668 | -€2.3m | |
| Income taxes | 67/77 | €515,822 | -€23 | -€515,846 | |
| Profit (loss) for the period | 9904 | €1,809,976 | -€2,645 | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,809,976 | -€2,645 | -€1.8m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.