VGP 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.
VGP IMMO
Largest movements
- Receivables within one year +€283,356
up €283,356 (+4022.5%), from €7,044 to €290,400
of which Trade receivables: +€290,400
- Tangible fixed assets -€127,050
no longer reported in 2025 (was €127,050)
- Other debts +€254,758
up €254,758 (+2113.8%), from €12,052 to €266,811
- Current portion of long-term debt -€191,650
no longer reported in 2025 (was €191,650)
- Profit (loss) carried forward +€101,348
up €101,348 (+100.0%), from -€101,369 to -€21
- Short-term financial debts -€11,924
no longer reported in 2025 (was €11,924)
- Trade debts +€3,763
up €3,763 (+304.1%), from €1,237 to €5,000
- Gross operating margin +€109,626
up €109,626, from -€387 to €109,239
- Financial charges -€8,593
down €8,593 (-52.2%), from €16,473 to €7,880
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €134,094 | €290,400 | +€156,306 | +116.6% |
| Fixed assets | 21/28 | €127,050 | - | -€127,050 | |
| Tangible fixed assets | 22/27 | €127,050 | - | -€127,050 | |
| Land and buildings | 22 | €127,050 | - | -€127,050 | |
| Current assets | 29/58 | €7,044 | €290,400 | +€283,356 | +4022.5% |
| Amounts receivable within one year | 40/41 | €7,044 | €290,400 | +€283,356 | +4022.5% |
| Trade receivables | 40 | - | €290,400 | +€290,400 | |
| Other amounts receivable | 41 | €7,044 | - | -€7,044 | |
| Total equity and liabilities | 10/49 | €134,094 | €290,400 | +€156,306 | +116.6% |
| Equity | 10/15 | -€82,769 | €18,579 | +€101,348 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,369 | -€21 | +€101,348 | +100.0% |
| Amounts payable | 17/49 | €216,864 | €271,821 | +€54,958 | +25.3% |
| Amounts payable within one year | 42/48 | €216,864 | €271,821 | +€54,958 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €191,650 | - | -€191,650 | |
| Financial debts | 43 | €11,924 | - | -€11,924 | |
| Credit institutions | 430/8 | €11,924 | - | -€11,924 | |
| Trade debts | 44 | €1,237 | €5,000 | +€3,763 | +304.1% |
| Suppliers | 440/4 | €1,237 | €5,000 | +€3,763 | +304.1% |
| Taxes, remuneration and social security | 45 | - | €10 | +€10 | |
| Taxes | 450/3 | - | €10 | +€10 | |
| Other amounts payable | 47/48 | €12,052 | €266,811 | +€254,758 | +2113.8% |
| Non-recurring operating income | 76A | - | €112,950 | +€112,950 | |
| Other operating charges | 640/8 | €303 | - | -€303 | |
| Gross operating margin | 9900 | -€387 | €109,239 | +€109,626 | |
| Operating profit (loss) | 9901 | -€690 | €109,239 | +€109,929 | |
| Financial charges | 65/66B | €16,473 | €7,880 | -€8,593 | -52.2% |
| Recurring financial charges | 65 | €16,473 | €7,880 | -€8,593 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | -€17,164 | €101,358 | +€118,522 | |
| Income taxes | 67/77 | - | €10 | +€10 | |
| Profit (loss) for the period | 9904 | -€17,164 | €101,348 | +€118,512 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,164 | €101,348 | +€118,512 |
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.