VOS IMMO: what changed
VOS IMMO
Largest movements
- Receivables within one year +€34,736
up €34,736 (+8.5%), from €406,701 to €441,437
of which Other amounts receivable: +€23,514
- Cash -€19,437
down €19,437 (-83.1%), from €23,403 to €3,966
mainly Other debts (-€50,000) and Receivables within one year (-€34,736)
- Tangible fixed assets -€5,897
down €5,897 (-8.8%), from €67,051 to €61,154
of which Furniture and vehicles: -€5,383
- Reserves +€57,503
up €57,503 (+13.4%), from €427,554 to €485,058
of which Distributable reserves: +€57,503
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin -€15,350
down €15,350 (-13.6%), from €113,045 to €97,696
- Depreciation -€4,680
down €4,680 (-44.2%), from €10,577 to €5,897
- Financial charges -€3,452
down €3,452 (-85.9%), from €4,018 to €567
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €497,671 | €507,074 | +€9,403 | +1.9% |
| Fixed assets | 21/28 | €67,051 | €61,154 | -€5,897 | -8.8% |
| Tangible fixed assets | 22/27 | €67,051 | €61,154 | -€5,897 | -8.8% |
| Land and buildings | 22 | €60,214 | €59,700 | -€514 | -0.9% |
| Furniture and vehicles | 24 | €6,837 | €1,454 | -€5,383 | -78.7% |
| Current assets | 29/58 | €430,620 | €445,920 | +€15,300 | +3.6% |
| Amounts receivable within one year | 40/41 | €406,701 | €441,437 | +€34,736 | +8.5% |
| Trade receivables | 40 | €9,867 | €21,089 | +€11,222 | +114% |
| Other amounts receivable | 41 | €396,834 | €420,348 | +€23,514 | +5.9% |
| Cash at bank and in hand | 54/58 | €23,403 | €3,966 | -€19,437 | -83.1% |
| Deferred charges and accrued income | 490/1 | €516 | €517 | +€1 | +0.2% |
| Total equity and liabilities | 10/49 | €497,671 | €507,074 | +€9,403 | +1.9% |
| Equity | 10/15 | €447,014 | €504,517 | +€57,503 | +12.9% |
| Contributions | 10/11 | €19,460 | €19,460 | = | 0.0% |
| Reserves | 13 | €427,554 | €485,058 | +€57,503 | +13.4% |
| Non-distributable reserves | 130/1 | €1,666 | €1,666 | = | 0.0% |
| Other | 1319 | €1,666 | €1,666 | = | 0.0% |
| Distributable reserves | 133 | €425,889 | €483,392 | +€57,503 | +13.5% |
| Amounts payable | 17/49 | €50,657 | €2,557 | -€48,100 | -95.0% |
| Amounts payable within one year | 42/48 | €50,657 | €2,546 | -€48,112 | -95.0% |
| Trade debts | 44 | €432 | €2,530 | +€2,098 | +486% |
| Suppliers | 440/4 | €432 | €2,530 | +€2,098 | +486% |
| Taxes, remuneration and social security | 45 | €226 | €16 | -€210 | -92.8% |
| Taxes | 450/3 | €226 | €16 | -€210 | -92.8% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Accrued charges and deferred income | 492/3 | - | €11 | +€11 | |
| Non-recurring operating income | 76A | €950 | - | -€950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,577 | €5,897 | -€4,680 | -44.2% |
| Other operating charges | 640/8 | €12,803 | €13,695 | +€892 | +7.0% |
| Gross operating margin | 9900 | €113,045 | €97,696 | -€15,350 | -13.6% |
| Operating profit (loss) | 9901 | €89,665 | €78,104 | -€11,561 | -12.9% |
| Financial income | 75/76B | €469 | €0 | -€469 | -100.0% |
| Recurring financial income | 75 | €469 | €0 | -€469 | -100.0% |
| Financial charges | 65/66B | €4,018 | €567 | -€3,452 | -85.9% |
| Recurring financial charges | 65 | €4,018 | €567 | -€3,452 | -85.9% |
| Profit (loss) for the period before taxes | 9903 | €86,116 | €77,537 | -€8,579 | -10.0% |
| Income taxes | 67/77 | €20,398 | €20,034 | -€364 | -1.8% |
| Profit (loss) for the period | 9904 | €65,717 | €57,503 | -€8,214 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,717 | €57,503 | -€8,214 | -12.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.