VHK 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.
VHK IMMO
Largest movements
- Tangible fixed assets -€11,503
down €11,503 (-3.0%), from €385,385 to €373,882
- Cash +€4,714
up €4,714 (+192.3%), from €2,451 to €7,165
mainly Depreciation (+€11,503) and Trade debts (+€1,745)
- Profit (loss) carried forward -€5,027
down €5,027 (-6.9%), from -€72,724 to -€77,752
- Depreciation -€4,962
down €4,962 (-30.1%), from €16,465 to €11,503
- Gross operating margin -€1,705
down €1,705 (-13.5%), from €12,670 to €10,965
- Financial charges -€138
down €138 (-3.3%), from €4,177 to €4,040
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 | €387,836 | €381,047 | -€6,789 | -1.8% |
| Fixed assets | 21/28 | €385,385 | €373,882 | -€11,503 | -3.0% |
| Tangible fixed assets | 22/27 | €385,385 | €373,882 | -€11,503 | -3.0% |
| Land and buildings | 22 | €385,385 | €373,882 | -€11,503 | -3.0% |
| Current assets | 29/58 | €2,451 | €7,165 | +€4,714 | +192.3% |
| Cash at bank and in hand | 54/58 | €2,451 | €7,165 | +€4,714 | +192.3% |
| Total equity and liabilities | 10/49 | €387,836 | €381,047 | -€6,789 | -1.8% |
| Equity | 10/15 | €277,276 | €272,248 | -€5,027 | -1.8% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,724 | -€77,752 | -€5,027 | -6.9% |
| Amounts payable | 17/49 | €110,560 | €108,799 | -€1,761 | -1.6% |
| Amounts payable after more than one year | 17 | €91,695 | €88,042 | -€3,653 | -4.0% |
| Financial debts | 170/4 | €91,495 | €87,842 | -€3,653 | -4.0% |
| Other amounts payable | 178/9 | €200 | €200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,865 | €20,757 | +€1,892 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €3,507 | €3,653 | +€146 | +4.2% |
| Trade debts | 44 | €835 | €2,580 | +€1,745 | +209.0% |
| Suppliers | 440/4 | €835 | €2,580 | +€1,745 | +209.0% |
| Other amounts payable | 47/48 | €14,523 | €14,523 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,465 | €11,503 | -€4,962 | -30.1% |
| Other operating charges | 640/8 | €436 | €450 | +€14 | +3.2% |
| Gross operating margin | 9900 | €12,670 | €10,965 | -€1,705 | -13.5% |
| Operating profit (loss) | 9901 | -€4,231 | -€988 | +€3,243 | +76.7% |
| Financial charges | 65/66B | €4,177 | €4,040 | -€138 | -3.3% |
| Recurring financial charges | 65 | €4,177 | €4,040 | -€138 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,408 | -€5,027 | +€3,381 | +40.2% |
| Profit (loss) for the period | 9904 | -€8,408 | -€5,027 | +€3,381 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,408 | -€5,027 | +€3,381 | +40.2% |
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 7 October 2026 via checked.be.