VOTRON-IMMO: what changed
What changed
VOTRON-IMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€8,822
2024 · -€5,414-€3,408
Equity
-€96,452
2024 · -€87,631-€8,822
Cash
€8,176
2024 · €6,247+€1,929
Balance sheet total
€527,737
2024 · €544,791-€17,053
Largest movements
Assets
- Receivables within one year -€13,534
no longer reported in 2025 (was €13,534)
Equity and liabilities
- Debts after one year -€35,770
down €35,770 (-6.5%), from €550,157 to €514,387
- Other debts +€24,400
up €24,400 (+87.1%), from €28,000 to €52,400
- Profit (loss) carried forward -€8,822
down €8,822 (-9.5%), from -€92,631 to -€101,452
Income statement
- Gross operating margin -€2,660
down €2,660 (-5.5%), from €48,556 to €45,896
- Depreciation +€876
up €876 (+3.8%), from €22,903 to €23,779
- Financial charges -€552
down €552 (-3.1%), from €17,602 to €17,050
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.
Result 2024
-€5,414
Gross operating margin
-€2,660
Depreciation
-€876
Other operating charges
-€423
Financial charges
+€552
Result 2025
-€8,822
raises the resultlowers the result
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.
From operations
+€55,654
Investment
-€18,682
Financing
-€35,043
Cash 2024
€6,247
From operations (derived)
+€55,654
Net result for the year
-€8,822
Depreciation
+€23,779
Receivables within one year
+€13,534
Deferred charges and accrued income
+€351
Trade debts
+€3,229
Tax, wage and social debts
-€723
Other debts
+€24,400
Accrued charges and deferred income
-€94
Investment (derived)
-€18,682
Investment in fixed assets (net)
-€18,682
Financing
-€35,043
Debts after one year
-€35,770
Current portion of long-term debt
+€727
Cash 2025
€8,176
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €544,791 | €527,737 | -€17,053 | -3.1% |
| Fixed assets | 21/28 | €522,969 | €517,872 | -€5,097 | -1.0% |
| Tangible fixed assets | 22/27 | €522,969 | €517,872 | -€5,097 | -1.0% |
| Land and buildings | 22 | €519,117 | €515,121 | -€3,997 | -0.8% |
| Furniture and vehicles | 24 | €3,852 | €2,752 | -€1,100 | -28.6% |
| Current assets | 29/58 | €21,822 | €9,865 | -€11,956 | -54.8% |
| Amounts receivable within one year | 40/41 | €13,534 | - | -€13,534 | |
| Trade receivables | 40 | €13,534 | - | -€13,534 | |
| Cash at bank and in hand | 54/58 | €6,247 | €8,176 | +€1,929 | +30.9% |
| Deferred charges and accrued income | 490/1 | €2,041 | €1,689 | -€351 | -17.2% |
| Total equity and liabilities | 10/49 | €544,791 | €527,737 | -€17,053 | -3.1% |
| Equity | 10/15 | -€87,631 | -€96,452 | -€8,822 | -10.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,631 | -€101,452 | -€8,822 | -9.5% |
| Amounts payable | 17/49 | €632,421 | €624,190 | -€8,231 | -1.3% |
| Amounts payable after more than one year | 17 | €550,157 | €514,387 | -€35,770 | -6.5% |
| Financial debts | 170/4 | €550,157 | €514,387 | -€35,770 | -6.5% |
| Amounts payable within one year | 42/48 | €81,327 | €108,959 | +€27,632 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €35,043 | €35,770 | +€727 | +2.1% |
| Trade debts | 44 | €15,453 | €18,682 | +€3,229 | +20.9% |
| Suppliers | 440/4 | €15,453 | €18,682 | +€3,229 | +20.9% |
| Taxes, remuneration and social security | 45 | €2,830 | €2,107 | -€723 | -25.5% |
| Taxes | 450/3 | €2,830 | €2,107 | -€723 | -25.5% |
| Other amounts payable | 47/48 | €28,000 | €52,400 | +€24,400 | +87.1% |
| Accrued charges and deferred income | 492/3 | €937 | €843 | -€94 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,903 | €23,779 | +€876 | +3.8% |
| Other operating charges | 640/8 | €13,466 | €13,889 | +€423 | +3.1% |
| Gross operating margin | 9900 | €48,556 | €45,896 | -€2,660 | -5.5% |
| Operating profit (loss) | 9901 | €12,188 | €8,228 | -€3,960 | -32.5% |
| Financial charges | 65/66B | €17,602 | €17,050 | -€552 | -3.1% |
| Recurring financial charges | 65 | €17,602 | €17,050 | -€552 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,414 | -€8,822 | -€3,408 | -62.9% |
| Profit (loss) for the period | 9904 | -€5,414 | -€8,822 | -€3,408 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,414 | -€8,822 | -€3,408 | -62.9% |
Next steps
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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 8 November 2026 via checked.be.