VISMET PROPCO: 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
VISMET PROPCO
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€25,661
2024 · -€64,125+€38,464
Equity
€2.2m
2024 · €2.3m-€25,662
Cash
€99,568
2024 · €70,626+€28,942
Balance sheet total
€5.0m
2024 · €5.1m-€92,341
Largest movements
Assets
- Tangible fixed assets -€237,464
down €237,464 (-4.8%), from €4.9m to €4.7m
of which Land and buildings: -€160,790
- Financial fixed assets +€115,116
up €115,116 (+237%), from €48,540 to €163,656
Equity and liabilities
- Reserves -€89,468
down €89,468 (-6.2%), from €1.4m to €1.4m
of which Tax-exempt reserves: -€89,468
- Profit (loss) carried forward +€63,806
up €63,806 (+8.1%), from €788,278 to €852,084
Income statement
- Gross operating margin +€41,689
up €41,689 (+12.8%), from €325,402 to €367,091
- Taxes +€32,570
up €32,570 (+651%), from €5,000 to €37,570
- Other operating charges -€5,912
down €5,912 (-10.3%), from €57,546 to €51,634
- Financial charges -€5,432
down €5,432 (-6.7%), from €81,041 to €75,609
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
-€64,125
Gross operating margin
+€41,689
Depreciation
-€3,467
Other operating charges
+€5,912
Other operating items
+€21,394
Financial income
+€74
Financial charges
+€5,432
Taxes
-€32,570
Result 2025
-€25,661
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€249,128
Investment
-€149,577
Financing
-€70,609
Cash 2024
€70,626
From operations (derived)
+€249,128
Net result for the year
-€25,661
Depreciation
+€271,925
Receivables within one year
+€4,151
Deferred charges and accrued income
-€5,216
Provisions
-€46,069
Trade debts
-€14,992
Tax, wage and social debts
+€19,565
Other debts
+€40,081
Accrued charges and deferred income
+€5,344
Investment (derived)
-€149,577
Investment in fixed assets (net)
-€149,577
Financing
-€70,609
Debts after one year
-€28,459
Current portion of long-term debt
-€42,149
Contributions, distributions and other
-€1
Cash 2025
€99,568
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,084,882 | €4,992,541 | -€92,341 | -1.8% |
| Fixed assets | 21/28 | €4,958,877 | €4,836,529 | -€122,348 | -2.5% |
| Tangible fixed assets | 22/27 | €4,910,337 | €4,672,873 | -€237,464 | -4.8% |
| Land and buildings | 22 | €4,493,484 | €4,332,694 | -€160,790 | -3.6% |
| Plant, machinery and equipment | 23 | €389,577 | €303,208 | -€86,369 | -22.2% |
| Furniture and vehicles | 24 | €10,486 | €5,418 | -€5,068 | -48.3% |
| Assets under construction and advance payments | 27 | €16,790 | €31,553 | +€14,763 | +87.9% |
| Financial fixed assets | 28 | €48,540 | €163,656 | +€115,116 | +237% |
| Current assets | 29/58 | €126,005 | €156,012 | +€30,007 | +23.8% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,466 | €315 | -€4,151 | -92.9% |
| Trade receivables | 40 | €4,466 | €315 | -€4,151 | -92.9% |
| Cash at bank and in hand | 54/58 | €70,626 | €99,568 | +€28,942 | +41.0% |
| Deferred charges and accrued income | 490/1 | €10,913 | €16,129 | +€5,216 | +47.8% |
| Total equity and liabilities | 10/49 | €5,084,882 | €4,992,541 | -€92,341 | -1.8% |
| Equity | 10/15 | €2,253,032 | €2,227,370 | -€25,662 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,446,154 | €1,356,686 | -€89,468 | -6.2% |
| Tax-exempt reserves | 132 | €1,444,294 | €1,354,826 | -€89,468 | -6.2% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €788,278 | €852,084 | +€63,806 | +8.1% |
| Provisions and deferred taxes | 16 | €744,095 | €698,026 | -€46,069 | -6.2% |
| Deferred taxes | 168 | €744,095 | €698,026 | -€46,069 | -6.2% |
| Amounts payable | 17/49 | €2,087,755 | €2,067,145 | -€20,610 | -1.0% |
| Amounts payable after more than one year | 17 | €389,720 | €361,261 | -€28,459 | -7.3% |
| Financial debts | 170/4 | €389,720 | €361,261 | -€28,459 | -7.3% |
| Amounts payable within one year | 42/48 | €1,682,365 | €1,684,870 | +€2,505 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €213,055 | €170,906 | -€42,149 | -19.8% |
| Trade debts | 44 | €24,264 | €9,272 | -€14,992 | -61.8% |
| Suppliers | 440/4 | €24,264 | €9,272 | -€14,992 | -61.8% |
| Taxes, remuneration and social security | 45 | €24,409 | €43,974 | +€19,565 | +80.2% |
| Taxes | 450/3 | €24,409 | €43,974 | +€19,565 | +80.2% |
| Other amounts payable | 47/48 | €1,420,637 | €1,460,718 | +€40,081 | +2.8% |
| Accrued charges and deferred income | 492/3 | €15,670 | €21,014 | +€5,344 | +34.1% |
| Non-recurring operating income | 76A | - | €6,877 | +€6,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,458 | €271,925 | +€3,467 | +1.3% |
| Other operating charges | 640/8 | €57,546 | €51,634 | -€5,912 | -10.3% |
| Non-recurring operating charges | 66A | €24,281 | €2,887 | -€21,394 | -88.1% |
| Gross operating margin | 9900 | €325,402 | €367,091 | +€41,689 | +12.8% |
| Operating profit (loss) | 9901 | -€24,883 | €40,645 | +€65,528 | |
| Financial income | 75/76B | €730 | €804 | +€74 | +10.1% |
| Recurring financial income | 75 | €730 | €804 | +€74 | +10.1% |
| Financial charges | 65/66B | €81,041 | €75,609 | -€5,432 | -6.7% |
| Recurring financial charges | 65 | €81,041 | €75,609 | -€5,432 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€105,194 | -€34,160 | +€71,034 | +67.5% |
| Transfer from deferred taxes | 780 | €46,069 | €46,069 | = | 0.0% |
| Income taxes | 67/77 | €5,000 | €37,570 | +€32,570 | +651% |
| Profit (loss) for the period | 9904 | -€64,125 | -€25,661 | +€38,464 | +60.0% |
| Transfer from tax-exempt reserves | 789 | €89,467 | €89,467 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,342 | €63,806 | +€38,464 | +152% |
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 27 October 2026 via checked.be.