VIMINALIS III: 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.
What changed
VIMINALIS III
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€282,579
2024 · -€448,490+€165,911
Equity
€11.2m
2024 · €11.5m-€282,579
Cash
€619,920
2024 · €815,671-€195,751
Balance sheet total
€39.4m
2024 · €40.6m-€1.3m
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-2.7%), from €39.6m to €38.5m
of which Assets under construction and advance payments: -€615,149
Equity and liabilities
- Debts after one year -€1.1m
down €1.1m (-3.8%), from €29.0m to €27.9m
Income statement
- Gross operating margin +€1.3m
up €1.3m (+119.6%), from €1.1m to €2.3m
- Turnover +€944,254
up €944,254 (+89.2%), from €1.1m to €2.0m
- Depreciation +€654,886
up €654,886 (+104.3%), from €628,056 to €1.3m
- Other operating charges +€220,717
up €220,717 (+19777.5%), from €1,116 to €221,833
- Financial charges +€190,287
up €190,287 (+20.3%), from €935,881 to €1.1m
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
-€448,490
Gross operating margin
+€1.3m
Depreciation
-€654,886
Other operating charges
-€220,717
Financial income
-€26,869
Financial charges
-€190,287
Result 2025
-€282,579
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
+€1.1m
Investment
-€214,629
Financing
-€1.1m
Cash 2024
€815,671
From operations (derived)
+€1.1m
Net result for the year
-€282,579
Depreciation
+€1.3m
Receivables within one year
-€18,862
Deferred charges and accrued income
+€17,708
Trade debts
+€112,801
Tax, wage and social debts
+€6,868
Investment (derived)
-€214,629
Investment in fixed assets (net)
-€214,629
Financing
-€1.1m
Debts after one year
-€1.1m
Cash 2025
€619,920
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,646,987 | €39,384,077 | -€1.3m | -3.1% |
| Fixed assets | 21/28 | €39,598,921 | €38,530,608 | -€1.1m | -2.7% |
| Tangible fixed assets | 22/27 | €39,598,921 | €38,530,608 | -€1.1m | -2.7% |
| Land and buildings | 22 | €38,769,143 | €38,315,979 | -€453,164 | -1.2% |
| Assets under construction and advance payments | 27 | €829,778 | €214,629 | -€615,149 | -74.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,048,066 | €853,469 | -€194,597 | -18.6% |
| Amounts receivable within one year | 40/41 | €214,687 | €233,549 | +€18,862 | +8.8% |
| Trade receivables | 40 | €214,687 | €222,256 | +€7,569 | +3.5% |
| Other amounts receivable | 41 | - | €11,293 | +€11,293 | |
| Cash at bank and in hand | 54/58 | €815,671 | €619,920 | -€195,751 | -24.0% |
| Deferred charges and accrued income | 490/1 | €17,708 | - | -€17,708 | |
| Total equity and liabilities | 10/49 | €40,646,987 | €39,384,077 | -€1.3m | -3.1% |
| Equity | 10/15 | €11,454,964 | €11,172,385 | -€282,579 | -2.5% |
| Contributions | 10/11 | €1,035,286 | €1,035,286 | = | 0.0% |
| Revaluation surpluses | 12 | €10,468,647 | €10,124,591 | -€344,056 | -3.3% |
| Reserves | 13 | €233,742 | €577,798 | +€344,056 | +147.2% |
| Non-distributable reserves | 130/1 | €7,528 | €7,528 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,528 | €7,528 | = | 0.0% |
| Distributable reserves | 133 | €226,214 | €570,270 | +€344,056 | +152.1% |
| Profit (loss) carried forward | 14 | -€282,711 | -€565,290 | -€282,579 | -100.0% |
| Amounts payable | 17/49 | €29,192,023 | €28,211,692 | -€980,331 | -3.4% |
| Amounts payable after more than one year | 17 | €29,000,000 | €27,900,000 | -€1.1m | -3.8% |
| Financial debts | 170/4 | €29,000,000 | €27,900,000 | -€1.1m | -3.8% |
| Amounts payable within one year | 42/48 | €192,023 | €311,692 | +€119,669 | +62.3% |
| Trade debts | 44 | €162,107 | €274,908 | +€112,801 | +69.6% |
| Suppliers | 440/4 | €162,107 | €274,908 | +€112,801 | +69.6% |
| Taxes, remuneration and social security | 45 | €29,916 | €36,784 | +€6,868 | +23.0% |
| Taxes | 450/3 | €29,916 | €36,784 | +€6,868 | +23.0% |
| Turnover | 70 | €1,059,037 | €2,003,291 | +€944,254 | +89.2% |
| Non-recurring operating income | 76A | - | €160,000 | +€160,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €248,404 | €80,481 | -€167,923 | -67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €628,056 | €1,282,942 | +€654,886 | +104.3% |
| Other operating charges | 640/8 | €1,116 | €221,833 | +€220,717 | +19777.5% |
| Gross operating margin | 9900 | €1,052,050 | €2,310,720 | +€1.3m | +119.6% |
| Operating profit (loss) | 9901 | €422,878 | €805,945 | +€383,067 | +90.6% |
| Financial income | 75/76B | €64,513 | €37,644 | -€26,869 | -41.6% |
| Recurring financial income | 75 | €64,513 | €37,644 | -€26,869 | -41.6% |
| Financial charges | 65/66B | €935,881 | €1,126,168 | +€190,287 | +20.3% |
| Recurring financial charges | 65 | €935,881 | €1,126,168 | +€190,287 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | -€448,490 | -€282,579 | +€165,911 | +37.0% |
| Profit (loss) for the period | 9904 | -€448,490 | -€282,579 | +€165,911 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€448,490 | -€282,579 | +€165,911 | +37.0% |
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 10 October 2026 via checked.be.