VDV Immo Invest: what changed
VDV Immo Invest
Largest movements
- Receivables within one year -€68,550
down €68,550 (-63.1%), from €108,670 to €40,120
of which Trade receivables: -€41,352
- Tangible fixed assets +€37,608
up €37,608 (+3,062%), from €1,228 to €38,836
of which Plant, machinery and equipment: +€28,802
- Cash +€3,546
up €3,546 (+74.1%), from €4,783 to €8,329
mainly Receivables within one year (+€68,550) and Net result for the year (+€25,356)
- Trade debts -€74,836
down €74,836 (-89.3%), from €83,757 to €8,921
of which Bills of exchange payable: -€68,404
- Profit (loss) carried forward +€25,356
up €25,356 (+158%), from €16,070 to €41,426
- Debts after one year +€9,835
up €9,835 (+145%), from €6,772 to €16,607
- Tax, wage and social debts +€7,298
up €7,298 (+154%), from €4,725 to €12,023
- Other debts +€4,434
up €4,434 (+4,434%), from €100 to €4,534
- Gross operating margin +€18,095
up €18,095 (+85.2%), from €21,236 to €39,330
- Depreciation +€6,065
up €6,065 (+4,983%), from €122 to €6,187
- Taxes +€2,040
up €2,040 (+43.2%), from €4,725 to €6,765
- Financial income -€648
no longer reported in 2025 (was €648)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,681 | €87,285 | -€27,396 | -23.9% |
| Fixed assets | 21/28 | €1,228 | €38,836 | +€37,608 | +3,062% |
| Tangible fixed assets | 22/27 | €1,228 | €38,836 | +€37,608 | +3,062% |
| Plant, machinery and equipment | 23 | €1,228 | €30,030 | +€28,802 | +2,345% |
| Furniture and vehicles | 24 | - | €8,806 | +€8,806 | |
| Current assets | 29/58 | €113,452 | €48,449 | -€65,003 | -57.3% |
| Amounts receivable within one year | 40/41 | €108,670 | €40,120 | -€68,550 | -63.1% |
| Trade receivables | 40 | €81,472 | €40,120 | -€41,352 | -50.8% |
| Other amounts receivable | 41 | €27,197 | - | -€27,197 | |
| Cash at bank and in hand | 54/58 | €4,783 | €8,329 | +€3,546 | +74.1% |
| Total equity and liabilities | 10/49 | €114,681 | €87,285 | -€27,396 | -23.9% |
| Equity | 10/15 | €16,570 | €41,926 | +€25,356 | +153% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,070 | €41,426 | +€25,356 | +158% |
| Amounts payable | 17/49 | €98,110 | €45,359 | -€52,751 | -53.8% |
| Amounts payable after more than one year | 17 | €6,772 | €16,607 | +€9,835 | +145% |
| Financial debts | 170/4 | €6,772 | €16,607 | +€9,835 | +145% |
| Amounts payable within one year | 42/48 | €91,339 | €28,752 | -€62,587 | -68.5% |
| Current portion of amounts payable after more than one year | 42 | €2,756 | €3,274 | +€518 | +18.8% |
| Trade debts | 44 | €83,757 | €8,921 | -€74,836 | -89.3% |
| Suppliers | 440/4 | €15,353 | €8,921 | -€6,432 | -41.9% |
| Bills of exchange payable | 441 | €68,404 | - | -€68,404 | |
| Taxes, remuneration and social security | 45 | €4,725 | €12,023 | +€7,298 | +154% |
| Taxes | 450/3 | €4,725 | €12,023 | +€7,298 | +154% |
| Other amounts payable | 47/48 | €100 | €4,534 | +€4,434 | +4,434% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122 | €6,187 | +€6,065 | +4,983% |
| Other operating charges | 640/8 | €162 | - | -€162 | |
| Gross operating margin | 9900 | €21,236 | €39,330 | +€18,095 | +85.2% |
| Operating profit (loss) | 9901 | €20,952 | €33,143 | +€12,191 | +58.2% |
| Financial income | 75/76B | €648 | - | -€648 | |
| Recurring financial income | 75 | €648 | - | -€648 | |
| Financial charges | 65/66B | €804 | €1,022 | +€218 | +27.0% |
| Recurring financial charges | 65 | €804 | €1,022 | +€218 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €20,796 | €32,121 | +€11,325 | +54.5% |
| Income taxes | 67/77 | €4,725 | €6,765 | +€2,040 | +43.2% |
| Profit (loss) for the period | 9904 | €16,070 | €25,356 | +€9,286 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,070 | €25,356 | +€9,286 | +57.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.