VLADO 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.
VLADO IMMO
Largest movements
- Tangible fixed assets +€308,612
new in 2025: €308,612
- Cash -€29,322
down €29,322 (-69.8%), from €42,032 to €12,710
mainly Investment in fixed assets (net) (-€319,200) and Receivables within one year (-€22,008)
- Receivables within one year +€22,008
up €22,008 (+249%), from €8,849 to €30,857
of which Trade receivables: +€20,932
- Debts after one year +€290,000
up €290,000 (+27.7%), from €1.0m to €1.3m
- Accrued charges and deferred income +€23,130
up €23,130 (+58.3%), from €39,679 to €62,809
- Depreciation +€10,588
new in 2025: €10,588
- Financial charges +€2,184
up €2,184 (+10.4%), from €20,983 to €23,167
- Taxes -€1,913
down €1,913 (-100%), from €1,913 to €0
- Other operating charges +€1,188
up €1,188 (+40.6%), from €2,930 to €4,118
- Gross operating margin -€1,087
down €1,087 (-3.6%), from €29,926 to €28,839
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,119,252 | €1,423,453 | +€304,202 | +27.2% |
| Fixed assets | 21/28 | - | €308,612 | +€308,612 | |
| Tangible fixed assets | 22/27 | - | €308,612 | +€308,612 | |
| Land and buildings | 22 | - | €308,612 | +€308,612 | |
| Current assets | 29/58 | €1,119,252 | €1,114,842 | -€4,410 | -0.4% |
| Stocks and contracts in progress | 3 | €1,066,828 | €1,068,159 | +€1,331 | +0.1% |
| Stocks | 30/36 | €1,066,828 | €1,068,159 | +€1,331 | +0.1% |
| Amounts receivable within one year | 40/41 | €8,849 | €30,857 | +€22,008 | +249% |
| Trade receivables | 40 | €7,424 | €28,357 | +€20,932 | +282% |
| Other amounts receivable | 41 | €1,424 | €2,500 | +€1,076 | +75.5% |
| Cash at bank and in hand | 54/58 | €42,032 | €12,710 | -€29,322 | -69.8% |
| Deferred charges and accrued income | 490/1 | €1,543 | €3,116 | +€1,573 | +102% |
| Total equity and liabilities | 10/49 | €1,119,252 | €1,423,453 | +€304,202 | +27.2% |
| Equity | 10/15 | €25,637 | €16,603 | -€9,035 | -35.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,437 | €19,437 | = | 0.0% |
| Distributable reserves | 133 | €19,437 | €19,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,035 | -€9,035 | |
| Amounts payable | 17/49 | €1,093,614 | €1,406,851 | +€313,236 | +28.6% |
| Amounts payable after more than one year | 17 | €1,047,749 | €1,337,749 | +€290,000 | +27.7% |
| Financial debts | 170/4 | €1,047,749 | €1,337,749 | +€290,000 | +27.7% |
| Amounts payable within one year | 42/48 | €6,187 | €6,293 | +€106 | +1.7% |
| Trade debts | 44 | €357 | €67 | -€290 | -81.3% |
| Suppliers | 440/4 | €357 | €67 | -€290 | -81.3% |
| Taxes, remuneration and social security | 45 | €3,523 | €3,641 | +€118 | +3.3% |
| Taxes | 450/3 | €3,523 | €3,641 | +€118 | +3.3% |
| Other amounts payable | 47/48 | €2,307 | €2,586 | +€279 | +12.1% |
| Accrued charges and deferred income | 492/3 | €39,679 | €62,809 | +€23,130 | +58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €10,588 | +€10,588 | |
| Other operating charges | 640/8 | €2,930 | €4,118 | +€1,188 | +40.6% |
| Gross operating margin | 9900 | €29,926 | €28,839 | -€1,087 | -3.6% |
| Operating profit (loss) | 9901 | €26,996 | €14,133 | -€12,863 | -47.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €20,983 | €23,167 | +€2,184 | +10.4% |
| Recurring financial charges | 65 | €20,983 | €23,167 | +€2,184 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €6,012 | -€9,035 | -€15,047 | |
| Income taxes | 67/77 | €1,913 | €0 | -€1,913 | -100% |
| Profit (loss) for the period | 9904 | €4,099 | -€9,035 | -€13,134 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,099 | -€9,035 | -€13,134 |
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 16 October 2026 via checked.be.