VL IMMO: 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.
VL IMMO
Largest movements
- Receivables within one year -€36,440
down €36,440 (-68.6%), from €53,124 to €16,685
of which Trade receivables: -€38,861
- Cash +€14,507
up €14,507 (+117.7%), from €12,322 to €26,829
mainly Receivables within one year (+€36,440) and Net result for the year (+€22,868)
- Tangible fixed assets +€7,573
up €7,573 (+2.0%), from €385,155 to €392,728
of which Plant, machinery and equipment: +€18,772
- Accrued charges and deferred income -€18,774
down €18,774 (-67.4%), from €27,866 to €9,091
- Reserves +€17,868
up €17,868 (+24.5%), from €72,939 to €90,808
- Debts after one year -€12,746
down €12,746 (-8.1%), from €156,622 to €143,876
- Other debts +€11,300
up €11,300 (+7.0%), from €161,253 to €172,553
- Tax, wage and social debts -€10,661
down €10,661 (-69.6%), from €15,316 to €4,655
of which Taxes: -€9,172
- Staff costs -€12,598
down €12,598, from €11,703 to -€895
- Gross operating margin +€4,371
up €4,371 (+8.3%), from €52,908 to €57,279
- Taxes +€3,662
up €3,662 (+104.7%), from €3,497 to €7,159
- Depreciation +€2,064
up €2,064 (+12.1%), from €17,053 to €19,117
- Financial charges +€1,839
up €1,839 (+30.3%), from €6,072 to €7,911
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 | €452,997 | €438,155 | -€14,842 | -3.3% |
| Fixed assets | 21/28 | €386,155 | €392,728 | +€6,573 | +1.7% |
| Tangible fixed assets | 22/27 | €385,155 | €392,728 | +€7,573 | +2.0% |
| Land and buildings | 22 | €373,040 | €364,840 | -€8,199 | -2.2% |
| Plant, machinery and equipment | 23 | €2,359 | €21,131 | +€18,772 | +795.7% |
| Furniture and vehicles | 24 | €9,756 | €6,756 | -€3,000 | -30.7% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €66,842 | €45,427 | -€21,414 | -32.0% |
| Amounts receivable within one year | 40/41 | €53,124 | €16,685 | -€36,440 | -68.6% |
| Trade receivables | 40 | €52,984 | €14,123 | -€38,861 | -73.3% |
| Other amounts receivable | 41 | €140 | €2,562 | +€2,422 | +1729.8% |
| Cash at bank and in hand | 54/58 | €12,322 | €26,829 | +€14,507 | +117.7% |
| Deferred charges and accrued income | 490/1 | €1,396 | €1,914 | +€518 | +37.1% |
| Total equity and liabilities | 10/49 | €452,997 | €438,155 | -€14,842 | -3.3% |
| Equity | 10/15 | €75,939 | €93,808 | +€17,868 | +23.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €72,939 | €90,808 | +€17,868 | +24.5% |
| Distributable reserves | 133 | €72,939 | €90,808 | +€17,868 | +24.5% |
| Amounts payable | 17/49 | €377,057 | €344,348 | -€32,710 | -8.7% |
| Amounts payable after more than one year | 17 | €156,622 | €143,876 | -€12,746 | -8.1% |
| Financial debts | 170/4 | €156,622 | €143,876 | -€12,746 | -8.1% |
| Amounts payable within one year | 42/48 | €192,570 | €191,380 | -€1,190 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €12,588 | €12,746 | +€158 | +1.3% |
| Trade debts | 44 | €3,414 | €1,427 | -€1,987 | -58.2% |
| Suppliers | 440/4 | €3,414 | €1,427 | -€1,987 | -58.2% |
| Taxes, remuneration and social security | 45 | €15,316 | €4,655 | -€10,661 | -69.6% |
| Taxes | 450/3 | €13,175 | €4,003 | -€9,172 | -69.6% |
| Remuneration and social security | 454/9 | €2,140 | €652 | -€1,488 | -69.5% |
| Other amounts payable | 47/48 | €161,253 | €172,553 | +€11,300 | +7.0% |
| Accrued charges and deferred income | 492/3 | €27,866 | €9,091 | -€18,774 | -67.4% |
| Remuneration, social security and pensions | 62 | €11,703 | -€895 | -€12,598 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,053 | €19,117 | +€2,064 | +12.1% |
| Other operating charges | 640/8 | €1,053 | €1,121 | +€68 | +6.5% |
| Gross operating margin | 9900 | €52,908 | €57,279 | +€4,371 | +8.3% |
| Operating profit (loss) | 9901 | €23,100 | €37,936 | +€14,837 | +64.2% |
| Financial income | 75/76B | €133 | €2 | -€131 | -98.5% |
| Recurring financial income | 75 | €133 | €2 | -€131 | -98.5% |
| Financial charges | 65/66B | €6,072 | €7,911 | +€1,839 | +30.3% |
| Recurring financial charges | 65 | €6,072 | €7,911 | +€1,839 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €17,161 | €30,027 | +€12,866 | +75.0% |
| Income taxes | 67/77 | €3,497 | €7,159 | +€3,662 | +104.7% |
| Profit (loss) for the period | 9904 | €13,664 | €22,868 | +€9,205 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,664 | €22,868 | +€9,205 | +67.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.