VP TOP 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.
VP TOP IMMO
Largest movements
- Tangible fixed assets +€120,343
up €120,343 (+83.5%), from €144,165 to €264,508
- Receivables within one year -€16,494
no longer reported in 2025 (was €16,494)
- Cash -€8,235
down €8,235 (-70.1%), from €11,753 to €3,518
mainly Investment in fixed assets (net) (-€120,343) and Net result for the year (-€19,818)
- Debts after one year +€79,689
up €79,689 (+90.5%), from €88,060 to €167,748
- Other debts +€29,696
up €29,696 (+177.4%), from €16,740 to €46,436
- Profit (loss) carried forward -€19,818
new in 2025: -€19,818
- Trade debts +€3,645
new in 2025: €3,645
- Write-downs +€15,313
new in 2025: €15,313
- Staff costs +€9,446
new in 2025: €9,446
- Purchases and services +€9,249
up €9,249 (+523.9%), from €1,765 to €11,014
- Depreciation -€9,103
no longer reported in 2025 (was €9,103)
- Gross operating margin -€7,849
down €7,849 (-42.1%), from €18,635 to €10,786
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 | €172,412 | €268,137 | +€95,725 | +55.5% |
| Fixed assets | 21/28 | €144,165 | €264,508 | +€120,343 | +83.5% |
| Tangible fixed assets | 22/27 | €144,165 | €264,508 | +€120,343 | +83.5% |
| Land and buildings | 22 | €144,165 | €264,508 | +€120,343 | +83.5% |
| Current assets | 29/58 | €28,247 | €3,629 | -€24,618 | -87.2% |
| Amounts receivable within one year | 40/41 | €16,494 | - | -€16,494 | |
| Other amounts receivable | 41 | €16,494 | - | -€16,494 | |
| Cash at bank and in hand | 54/58 | €11,753 | €3,518 | -€8,235 | -70.1% |
| Deferred charges and accrued income | 490/1 | - | €111 | +€111 | |
| Total equity and liabilities | 10/49 | €172,412 | €268,137 | +€95,725 | +55.5% |
| Equity | 10/15 | €54,856 | €35,038 | -€19,818 | -36.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,256 | €36,256 | = | 0.0% |
| Distributable reserves | 133 | €36,256 | €36,256 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€19,818 | -€19,818 | |
| Amounts payable | 17/49 | €117,556 | €233,099 | +€115,543 | +98.3% |
| Amounts payable after more than one year | 17 | €88,060 | €167,748 | +€79,689 | +90.5% |
| Financial debts | 170/4 | €88,060 | €167,748 | +€79,689 | +90.5% |
| Amounts payable within one year | 42/48 | €29,496 | €65,351 | +€35,855 | +121.6% |
| Current portion of amounts payable after more than one year | 42 | €12,381 | €14,756 | +€2,375 | +19.2% |
| Trade debts | 44 | - | €3,645 | +€3,645 | |
| Suppliers | 440/4 | - | €3,645 | +€3,645 | |
| Taxes, remuneration and social security | 45 | €376 | €515 | +€139 | +36.9% |
| Taxes | 450/3 | €376 | €515 | +€139 | +36.9% |
| Other amounts payable | 47/48 | €16,740 | €46,436 | +€29,696 | +177.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,765 | €11,014 | +€9,249 | +523.9% |
| Remuneration, social security and pensions | 62 | - | €9,446 | +€9,446 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,103 | - | -€9,103 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,313 | +€15,313 | |
| Other operating charges | 640/8 | €810 | €189 | -€620 | -76.6% |
| Gross operating margin | 9900 | €18,635 | €10,786 | -€7,849 | -42.1% |
| Operating profit (loss) | 9901 | €8,722 | -€14,162 | -€22,884 | |
| Financial charges | 65/66B | €2,885 | €4,066 | +€1,181 | +40.9% |
| Recurring financial charges | 65 | €2,885 | €4,066 | +€1,181 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €5,836 | -€18,228 | -€24,064 | |
| Income taxes | 67/77 | €2,338 | €1,590 | -€747 | -32.0% |
| Profit (loss) for the period | 9904 | €3,499 | -€19,818 | -€23,317 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,499 | -€19,818 | -€23,317 |
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 12 October 2026 via checked.be.