VLUCIMMO: what changed
Two fiscal 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.
VLUCIMMO
Largest movements
- Cash +€215,895
up €215,895 (+63.4%), from €340,283 to €556,178
mainly Net result for the year (+€128,319) and Depreciation (+€67,550)
- Tangible fixed assets -€67,550
down €67,550 (-9.0%), from €748,803 to €681,254
- Reserves +€128,319
up €128,319 (+653.5%), from €19,634 to €147,953
of which Distributable reserves: +€121,903
- Tax, wage and social debts +€19,547
up €19,547 (+1993.6%), from €981 to €20,528
- Gross operating margin +€79,860
up €79,860 (+42.1%), from €189,567 to €269,428
- Taxes +€30,379
up €30,379 (+103.0%), from €29,503 to €59,882
- Other operating charges +€12,809
up €12,809 (+349.8%), from €3,662 to €16,471
- Depreciation -€10,738
down €10,738 (-13.7%), from €78,288 to €67,550
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 | €1,092,186 | €1,241,412 | +€149,225 | +13.7% |
| Fixed assets | 21/28 | €751,803 | €681,254 | -€70,550 | -9.4% |
| Tangible fixed assets | 22/27 | €748,803 | €681,254 | -€67,550 | -9.0% |
| Land and buildings | 22 | €748,803 | €681,254 | -€67,550 | -9.0% |
| Financial fixed assets | 28 | €3,000 | €0 | -€3,000 | -100.0% |
| Current assets | 29/58 | €340,383 | €560,158 | +€219,775 | +64.6% |
| Amounts receivable within one year | 40/41 | €100 | €0 | -€100 | -100.0% |
| Trade receivables | 40 | €100 | €0 | -€100 | -100.0% |
| Cash at bank and in hand | 54/58 | €340,283 | €556,178 | +€215,895 | +63.4% |
| Deferred charges and accrued income | 490/1 | €0 | €3,981 | +€3,981 | |
| Total equity and liabilities | 10/49 | €1,092,186 | €1,241,412 | +€149,225 | +13.7% |
| Equity | 10/15 | €1,059,565 | €1,187,884 | +€128,319 | +12.1% |
| Contributions | 10/11 | €1,039,931 | €1,039,931 | = | 0.0% |
| Capital | 10 | €1,039,931 | €1,039,931 | = | 0.0% |
| Issued capital | 100 | €1,039,931 | €1,039,931 | = | 0.0% |
| Reserves | 13 | €19,634 | €147,953 | +€128,319 | +653.5% |
| Non-distributable reserves | 130/1 | €982 | €7,398 | +€6,416 | +653.5% |
| Legal reserve | 130 | €982 | €7,398 | +€6,416 | +653.5% |
| Distributable reserves | 133 | €18,653 | €140,556 | +€121,903 | +653.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,621 | €53,527 | +€20,906 | +64.1% |
| Amounts payable within one year | 42/48 | €981 | €20,682 | +€19,702 | +2009.3% |
| Trade debts | 44 | - | €154 | +€154 | |
| Suppliers | 440/4 | - | €154 | +€154 | |
| Taxes, remuneration and social security | 45 | €981 | €20,528 | +€19,547 | +1993.6% |
| Taxes | 450/3 | €981 | €20,528 | +€19,547 | +1993.6% |
| Accrued charges and deferred income | 492/3 | €31,640 | €32,845 | +€1,205 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,288 | €67,550 | -€10,738 | -13.7% |
| Other operating charges | 640/8 | €3,662 | €16,471 | +€12,809 | +349.8% |
| Gross operating margin | 9900 | €189,567 | €269,428 | +€79,860 | +42.1% |
| Operating profit (loss) | 9901 | €107,617 | €185,407 | +€77,790 | +72.3% |
| Financial income | 75/76B | €3,410 | €2,848 | -€562 | -16.5% |
| Recurring financial income | 75 | €3,410 | €2,848 | -€562 | -16.5% |
| Financial charges | 65/66B | €867 | €54 | -€813 | -93.8% |
| Recurring financial charges | 65 | €867 | €54 | -€813 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €110,160 | €188,201 | +€78,041 | +70.8% |
| Income taxes | 67/77 | €29,503 | €59,882 | +€30,379 | +103.0% |
| Profit (loss) for the period | 9904 | €80,657 | €128,319 | +€47,662 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,657 | €128,319 | +€47,662 | +59.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.