VDV 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.
VDV IMMO
Largest movements
- Tangible fixed assets -€95,734
down €95,734 (-9.3%), from €1.0m to €929,897
of which Land and buildings: -€105,380
- Debts after one year -€90,333
down €90,333 (-9.8%), from €922,324 to €831,991
- Reserves -€16,035
down €16,035 (-24.8%), from €64,740 to €48,705
of which Distributable reserves: -€16,035
- Gross operating margin -€7,023
down €7,023 (-5.0%), from €140,924 to €133,901
- Financial charges -€3,255
down €3,255 (-8.1%), from €40,063 to €36,808
- Other operating charges +€2,876
up €2,876 (+60.0%), from €4,793 to €7,669
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 | €1,086,431 | €984,484 | -€101,948 | -9.4% |
| Fixed assets | 21/28 | €1,025,631 | €929,897 | -€95,734 | -9.3% |
| Tangible fixed assets | 22/27 | €1,025,631 | €929,897 | -€95,734 | -9.3% |
| Land and buildings | 22 | €1,025,631 | €920,251 | -€105,380 | -10.3% |
| Plant, machinery and equipment | 23 | - | €9,646 | +€9,646 | |
| Current assets | 29/58 | €60,800 | €54,587 | -€6,213 | -10.2% |
| Amounts receivable within one year | 40/41 | €8,112 | €3,875 | -€4,237 | -52.2% |
| Other amounts receivable | 41 | €8,112 | €3,875 | -€4,237 | -52.2% |
| Current investments | 50/53 | €21,000 | €21,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,688 | €29,711 | -€1,976 | -6.2% |
| Total equity and liabilities | 10/49 | €1,086,431 | €984,484 | -€101,948 | -9.4% |
| Equity | 10/15 | €69,050 | €53,014 | -€16,035 | -23.2% |
| Contributions | 10/11 | €4,309 | €4,309 | = | 0.0% |
| Reserves | 13 | €64,740 | €48,705 | -€16,035 | -24.8% |
| Non-distributable reserves | 130/1 | €1,044 | €1,044 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,044 | €1,044 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,573 | €25,573 | = | 0.0% |
| Distributable reserves | 133 | €38,124 | €22,089 | -€16,035 | -42.1% |
| Amounts payable | 17/49 | €1,017,382 | €931,469 | -€85,912 | -8.4% |
| Amounts payable after more than one year | 17 | €922,324 | €831,991 | -€90,333 | -9.8% |
| Financial debts | 170/4 | €922,324 | €831,991 | -€90,333 | -9.8% |
| Amounts payable within one year | 42/48 | €89,972 | €97,670 | +€7,697 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €89,972 | €94,827 | +€4,855 | +5.4% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €2,843 | +€2,843 | |
| Taxes | 450/3 | - | €2,843 | +€2,843 | |
| Accrued charges and deferred income | 492/3 | €5,086 | €1,809 | -€3,277 | -64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,380 | €106,633 | +€1,253 | +1.2% |
| Other operating charges | 640/8 | €4,793 | €7,669 | +€2,876 | +60.0% |
| Gross operating margin | 9900 | €140,924 | €133,901 | -€7,023 | -5.0% |
| Operating profit (loss) | 9901 | €30,751 | €19,600 | -€11,152 | -36.3% |
| Financial income | 75/76B | €352 | €1,676 | +€1,324 | +376.6% |
| Recurring financial income | 75 | €352 | €1,676 | +€1,324 | +376.6% |
| Financial charges | 65/66B | €40,063 | €36,808 | -€3,255 | -8.1% |
| Recurring financial charges | 65 | €40,063 | €36,808 | -€3,255 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,960 | -€15,532 | -€6,573 | -73.4% |
| Income taxes | 67/77 | - | €503 | +€503 | |
| Profit (loss) for the period | 9904 | -€8,960 | -€16,035 | -€7,075 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,960 | -€16,035 | -€7,075 | -79.0% |
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.