VF-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.
VF-Immo
Largest movements
- Tangible fixed assets +€893,466
up €893,466 (+3971.0%), from €22,500 to €915,966
of which Land and buildings: +€915,966
- Cash -€91,821
down €91,821 (-90.6%), from €101,326 to €9,505
mainly Investment in fixed assets (net) (-€951,712) and Receivables within one year (-€40,439)
- Receivables within one year +€40,439
up €40,439 (+192.8%), from €20,977 to €61,416
of which Other amounts receivable: +€40,000
- Reserves +€594,995
new in 2025: €594,995
of which Distributable reserves: +€581,018
- Other debts +€192,912
up €192,912 (+103.1%), from €187,048 to €379,960
- Profit (loss) carried forward +€41,366
up €41,366, from -€2,521 to €38,846
- Contributions +€18,637
up €18,637 (+124.2%), from €15,000 to €33,637
- Depreciation +€53,246
new in 2025: €53,246
- Gross operating margin +€26,645
up €26,645, from -€3,282 to €23,363
- Other operating charges +€4,181
up €4,181 (+2787.5%), from €150 to €4,331
- Financial income +€439
up €439 (+45.0%), from €977 to €1,416
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 | €199,803 | €1,047,486 | +€847,684 | +424.3% |
| Fixed assets | 21/28 | €77,500 | €975,966 | +€898,466 | +1159.3% |
| Tangible fixed assets | 22/27 | €22,500 | €915,966 | +€893,466 | +3971.0% |
| Land and buildings | 22 | - | €915,966 | +€915,966 | |
| Assets under construction and advance payments | 27 | €22,500 | €0 | -€22,500 | -100.0% |
| Financial fixed assets | 28 | €55,000 | €60,000 | +€5,000 | +9.1% |
| Current assets | 29/58 | €122,303 | €71,521 | -€50,782 | -41.5% |
| Amounts receivable within one year | 40/41 | €20,977 | €61,416 | +€40,439 | +192.8% |
| Trade receivables | 40 | €977 | €1,416 | +€439 | +45.0% |
| Other amounts receivable | 41 | €20,000 | €60,000 | +€40,000 | +200.0% |
| Cash at bank and in hand | 54/58 | €101,326 | €9,505 | -€91,821 | -90.6% |
| Deferred charges and accrued income | 490/1 | - | €600 | +€600 | |
| Total equity and liabilities | 10/49 | €199,803 | €1,047,486 | +€847,684 | +424.3% |
| Equity | 10/15 | €12,479 | €667,478 | +€654,999 | +5248.6% |
| Contributions | 10/11 | €15,000 | €33,637 | +€18,637 | +124.2% |
| Reserves | 13 | - | €594,995 | +€594,995 | |
| Tax-exempt reserves | 132 | - | €13,978 | +€13,978 | |
| Distributable reserves | 133 | - | €581,018 | +€581,018 | |
| Profit (loss) carried forward | 14 | -€2,521 | €38,846 | +€41,366 | |
| Amounts payable | 17/49 | €187,323 | €380,008 | +€192,685 | +102.9% |
| Amounts payable within one year | 42/48 | €187,323 | €380,008 | +€192,685 | +102.9% |
| Trade debts | 44 | €275 | €49 | -€227 | -82.3% |
| Suppliers | 440/4 | €275 | €49 | -€227 | -82.3% |
| Other amounts payable | 47/48 | €187,048 | €379,960 | +€192,912 | +103.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €53,246 | +€53,246 | |
| Other operating charges | 640/8 | €150 | €4,331 | +€4,181 | +2787.5% |
| Gross operating margin | 9900 | -€3,282 | €23,363 | +€26,645 | |
| Operating profit (loss) | 9901 | -€3,432 | -€34,214 | -€30,782 | -896.9% |
| Financial income | 75/76B | €977 | €1,416 | +€439 | +45.0% |
| Recurring financial income | 75 | €977 | €1,416 | +€439 | +45.0% |
| Financial charges | 65/66B | €65 | €70 | +€5 | +7.7% |
| Recurring financial charges | 65 | €65 | €70 | +€5 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,521 | -€32,868 | -€30,348 | -1204.0% |
| Profit (loss) for the period | 9904 | -€2,521 | -€32,868 | -€30,348 | -1204.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,521 | -€32,868 | -€30,348 | -1204.0% |
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 9 October 2026 via checked.be.