VERSTIMMO: 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.
What changed
VERSTIMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6.6m
2024 · €7.7m-€1.2m
Equity
€31.6m
2024 · €25.1m+€6.6m
Cash
€297,417
2024 · €2.7m-€2.4m
Balance sheet total
€34.6m
2024 · €27.3m+€7.2m
Largest movements
Assets
- Current investments +€9.1m
new in 2025: €9.1m
- Tangible fixed assets +€3.7m
up €3.7m (+20.6%), from €18.2m to €22.0m
of which Land and buildings: +€3.8m
- Receivables within one year -€3.2m
down €3.2m (-50.0%), from €6.3m to €3.2m
of which Trade receivables: -€1.7m
- Cash -€2.4m
down €2.4m (-89.1%), from €2.7m to €297,417
mainly Current investments (-€9.1m) and Investment in fixed assets (net) (-€4.7m)
Equity and liabilities
- Reserves +€6.6m
up €6.6m (+27.1%), from €24.3m to €30.8m
of which Distributable reserves: +€5.6m
- Other debts +€649,872
up €649,872 (+110.9%), from €586,074 to €1.2m
Income statement
- Turnover -€1.8m
down €1.8m (-50.8%), from €3.5m to €1.7m
- Taxes -€389,363
down €389,363 (-15.1%), from €2.6m to €2.2m
of which Taxes: -€394,588
- Other operating income +€308,068
up €308,068 (+3.8%), from €8.0m to €8.4m
- Services and other goods +€77,022
up €77,022 (+31.4%), from €245,372 to €322,394
- Other operating charges +€35,200
up €35,200 (+61.1%), from €57,587 to €92,786
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.
Result 2024
€7.7m
Turnover
-€1.8m
Other operating income
+€308,068
Goods and materials
+€3,282
Services and other goods
-€77,022
Depreciation
-€4,923
Other operating charges
-€35,200
Financial income
+€26,566
Financial charges
-€948
Taxes
+€389,363
Result 2025
€6.6m
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.
From operations
+€11.5m
Investment
-€13.8m
Financing
-€98,414
Cash 2024
€2.7m
From operations (derived)
+€11.5m
Net result for the year
+€6.6m
Depreciation
+€941,269
Receivables within one year
+€3.2m
Deferred charges and accrued income
+€24,816
Smaller working-capital items
+€1,251
Trade debts
-€75,682
Tax, wage and social debts
+€195,711
Other debts
+€649,872
Investment (derived)
-€13.8m
Investment in fixed assets (net)
-€4.7m
Current investments
-€9.1m
Financing
-€98,414
Debts after one year
-€106,655
Current portion of long-term debt
+€9,899
Contributions, distributions and other
-€1,658
Cash 2025
€297,417
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,336,444 | €34,583,674 | +€7.2m | +26.5% |
| Fixed assets | 21/28 | €18,209,775 | €21,959,359 | +€3.7m | +20.6% |
| Tangible fixed assets | 22/27 | €18,208,275 | €21,957,859 | +€3.7m | +20.6% |
| Land and buildings | 22 | €17,857,455 | €21,631,079 | +€3.8m | +21.1% |
| Plant, machinery and equipment | 23 | €350,820 | €326,780 | -€24,040 | -6.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €9,126,669 | €12,624,315 | +€3.5m | +38.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €6,331,220 | €3,167,470 | -€3.2m | -50.0% |
| Trade receivables | 40 | €4,192,262 | €2,517,564 | -€1.7m | -39.9% |
| Other amounts receivable | 41 | €2,138,958 | €649,905 | -€1.5m | -69.6% |
| Current investments | 50/53 | - | €9,125,000 | +€9.1m | |
| Other investments | 51/53 | - | €9,125,000 | +€9.1m | |
| Cash at bank and in hand | 54/58 | €2,736,205 | €297,417 | -€2.4m | -89.1% |
| Deferred charges and accrued income | 490/1 | €59,244 | €34,428 | -€24,816 | -41.9% |
| Total equity and liabilities | 10/49 | €27,336,444 | €34,583,674 | +€7.2m | +26.5% |
| Equity | 10/15 | €25,065,494 | €31,638,329 | +€6.6m | +26.2% |
| Contributions | 10/11 | €809,501 | €809,501 | = | 0.0% |
| Reserves | 13 | €24,252,674 | €30,827,167 | +€6.6m | +27.1% |
| Tax-exempt reserves | 132 | €11,921,214 | €12,921,211 | +€999,997 | +8.4% |
| Distributable reserves | 133 | €12,331,460 | €17,905,956 | +€5.6m | +45.2% |
| Investment grants | 15 | €3,320 | €1,661 | -€1,658 | -50.0% |
| Provisions and deferred taxes | 16 | €172 | €85 | -€87 | -50.7% |
| Deferred taxes | 168 | €172 | €85 | -€87 | -50.7% |
| Amounts payable | 17/49 | €2,270,778 | €2,945,260 | +€674,482 | +29.7% |
| Amounts payable after more than one year | 17 | €1,233,868 | €1,127,213 | -€106,655 | -8.6% |
| Financial debts | 170/4 | €1,233,868 | €1,127,213 | -€106,655 | -8.6% |
| Credit institutions | 173 | €1,233,868 | €1,127,213 | -€106,655 | -8.6% |
| Amounts payable within one year | 42/48 | €1,014,766 | €1,794,565 | +€779,800 | +76.8% |
| Current portion of amounts payable after more than one year | 42 | €105,596 | €115,495 | +€9,899 | +9.4% |
| Trade debts | 44 | €272,744 | €197,062 | -€75,682 | -27.7% |
| Suppliers | 440/4 | €272,744 | €197,062 | -€75,682 | -27.7% |
| Taxes, remuneration and social security | 45 | €50,351 | €246,062 | +€195,711 | +388.7% |
| Taxes | 450/3 | €50,351 | €246,062 | +€195,711 | +388.7% |
| Other amounts payable | 47/48 | €586,074 | €1,235,946 | +€649,872 | +110.9% |
| Accrued charges and deferred income | 492/3 | €22,144 | €23,482 | +€1,338 | +6.0% |
| Operating income | 70/76A | €11,560,610 | €10,084,840 | -€1.5m | -12.8% |
| Turnover | 70 | €3,511,415 | €1,727,578 | -€1.8m | -50.8% |
| Other operating income | 74 | €8,049,194 | €8,357,262 | +€308,068 | +3.8% |
| Operating charges | 60/66A | €1,242,588 | €1,356,449 | +€113,862 | +9.2% |
| Goods for resale, raw materials and consumables | 60 | €3,282 | €0 | -€3,282 | -100.0% |
| Purchases | 600/8 | €3,282 | €0 | -€3,282 | -100.0% |
| Services and other goods | 61 | €245,372 | €322,394 | +€77,022 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €936,347 | €941,269 | +€4,923 | +0.5% |
| Other operating charges | 640/8 | €57,587 | €92,786 | +€35,200 | +61.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €10,318,022 | €8,728,391 | -€1.6m | -15.4% |
| Financial income | 75/76B | €44,830 | €71,396 | +€26,566 | +59.3% |
| Recurring financial income | 75 | €44,830 | €71,396 | +€26,566 | +59.3% |
| Income from financial fixed assets | 750 | €0 | €5 | +€5 | |
| Income from current assets | 751 | €43,172 | €55,002 | +€11,830 | +27.4% |
| Other financial income | 752/9 | €1,658 | €16,389 | +€14,730 | +888.2% |
| Financial charges | 65/66B | €32,589 | €33,538 | +€948 | +2.9% |
| Recurring financial charges | 65 | €32,589 | €33,538 | +€948 | +2.9% |
| Debt charges | 650 | €30,138 | €29,644 | -€494 | -1.6% |
| Other financial charges | 652/9 | €2,452 | €3,894 | +€1,442 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €10,330,263 | €8,766,249 | -€1.6m | -15.1% |
| Transfer from deferred taxes | 780 | €87 | €87 | = | 0.0% |
| Income taxes | 67/77 | €2,581,206 | €2,191,843 | -€389,363 | -15.1% |
| Taxes | 670/3 | €2,586,431 | €2,191,843 | -€394,588 | -15.3% |
| Tax adjustments and reversals of tax provisions | 77 | €5,225 | €0 | -€5,225 | -100.0% |
| Profit (loss) for the period | 9904 | €7,749,144 | €6,574,493 | -€1.2m | -15.2% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €999,997 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,749,147 | €5,574,496 | -€1.2m | -17.4% |
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 4 October 2026 via checked.be.