VIBACO: what changed
What changed
VIBACO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€28,542
2024 · €22,376+€6,166
Equity
€465,748
2024 · €447,706+€18,042
Cash
€111,887
2024 · €12,671+€99,216
Balance sheet total
€2.1m
2024 · €1.0m+€1.1m
Largest movements
Assets
- Tangible fixed assets +€996,654
up €996,654 (+102%), from €977,186 to €2.0m
of which Land and buildings: +€997,534
- Cash +€99,216
up €99,216 (+783%), from €12,671 to €111,887
mainly Debts after one year (+€574,449) and Other debts (+€469,270)
Equity and liabilities
- Debts after one year +€574,449
new in 2025: €574,449
- Other debts +€469,270
up €469,270 (+91.2%), from €514,461 to €983,731
- Current portion of long-term debt +€43,051
new in 2025: €43,051
Income statement
- Gross operating margin +€12,568
up €12,568 (+8.9%), from €141,424 to €153,992
- Depreciation +€8,992
up €8,992 (+15.0%), from €59,753 to €68,746
- Financial charges -€5,122
down €5,122 (-14.2%), from €36,174 to €31,053
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.
Result 2024
€22,376
Gross operating margin
+€12,568
Depreciation
-€8,992
Other operating charges
-€1,104
Financial income
-€428
Financial charges
+€5,122
Taxes
-€1,000
Result 2025
€28,542
raises the resultlowers the result
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.
From operations
+€557,616
Investment
-€1.1m
Financing
+€607,000
Cash 2024
€12,671
From operations (derived)
+€557,616
Net result for the year
+€28,542
Depreciation
+€68,746
Smaller working-capital items
-€185
Deferred charges and accrued income
-€4,341
Other debts
+€469,270
Accrued charges and deferred income
-€4,415
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€607,000
Debts after one year
+€574,449
Current portion of long-term debt
+€43,051
Contributions, distributions and other
-€10,500
Cash 2025
€111,887
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,001,434 | €2,099,396 | +€1.1m | +110% |
| Fixed assets | 21/28 | €979,580 | €1,976,234 | +€996,654 | +102% |
| Tangible fixed assets | 22/27 | €977,186 | €1,973,840 | +€996,654 | +102% |
| Land and buildings | 22 | €971,414 | €1,968,948 | +€997,534 | +103% |
| Plant, machinery and equipment | 23 | €5,772 | €4,893 | -€879 | -15.2% |
| Financial fixed assets | 28 | €2,394 | €2,394 | = | 0.0% |
| Current assets | 29/58 | €21,854 | €123,162 | +€101,308 | +464% |
| Amounts receivable within one year | 40/41 | €4,484 | €2,234 | -€2,250 | -50.2% |
| Trade receivables | 40 | €3,250 | - | -€3,250 | |
| Other amounts receivable | 41 | €1,234 | €2,234 | +€1,000 | +81.1% |
| Cash at bank and in hand | 54/58 | €12,671 | €111,887 | +€99,216 | +783% |
| Deferred charges and accrued income | 490/1 | €4,700 | €9,041 | +€4,341 | +92.4% |
| Total equity and liabilities | 10/49 | €1,001,434 | €2,099,396 | +€1.1m | +110% |
| Equity | 10/15 | €447,706 | €465,748 | +€18,042 | +4.0% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €75,866 | €93,908 | +€18,042 | +23.8% |
| Distributable reserves | 133 | €75,866 | €93,908 | +€18,042 | +23.8% |
| Amounts payable | 17/49 | €553,728 | €1,633,648 | +€1.1m | +195% |
| Amounts payable after more than one year | 17 | - | €574,449 | +€574,449 | |
| Financial debts | 170/4 | - | €574,449 | +€574,449 | |
| Amounts payable within one year | 42/48 | €518,485 | €1,028,371 | +€509,886 | +98.3% |
| Current portion of amounts payable after more than one year | 42 | - | €43,051 | +€43,051 | |
| Trade debts | 44 | €4,024 | €1,590 | -€2,434 | -60.5% |
| Suppliers | 440/4 | €4,024 | €1,590 | -€2,434 | -60.5% |
| Other amounts payable | 47/48 | €514,461 | €983,731 | +€469,270 | +91.2% |
| Accrued charges and deferred income | 492/3 | €35,243 | €30,828 | -€4,415 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,753 | €68,746 | +€8,992 | +15.0% |
| Other operating charges | 640/8 | €17,782 | €18,886 | +€1,104 | +6.2% |
| Gross operating margin | 9900 | €141,424 | €153,992 | +€12,568 | +8.9% |
| Operating profit (loss) | 9901 | €63,888 | €66,360 | +€2,472 | +3.9% |
| Financial income | 75/76B | €428 | - | -€428 | |
| Recurring financial income | 75 | €428 | - | -€428 | |
| Financial charges | 65/66B | €36,174 | €31,053 | -€5,122 | -14.2% |
| Recurring financial charges | 65 | €36,174 | €31,053 | -€5,122 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €28,142 | €35,307 | +€7,165 | +25.5% |
| Income taxes | 67/77 | €5,766 | €6,766 | +€1,000 | +17.3% |
| Profit (loss) for the period | 9904 | €22,376 | €28,542 | +€6,166 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,376 | €28,542 | +€6,166 | +27.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.