VR-immo: 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.
VR-immo
Largest movements
- Tangible fixed assets -€28,890
down €28,890 (-4.8%), from €607,989 to €579,099
of which Other tangible fixed assets: -€18,171
- Debts after one year -€22,535
down €22,535 (-14.1%), from €159,570 to €137,035
- Gross operating margin -€11,294
down €11,294 (-23.0%), from €49,195 to €37,902
- Depreciation +€10,502
up €10,502 (+52.9%), from €19,867 to €30,369
- Taxes -€1,858
down €1,858 (-91.6%), from €2,028 to €169
- Financial charges +€1,549
up €1,549 (+22.1%), from €7,010 to €8,559
- Other operating charges -€608
down €608 (-17.8%), from €3,423 to €2,815
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 | €655,509 | €629,849 | -€25,660 | -3.9% |
| Fixed assets | 21/28 | €607,989 | €579,099 | -€28,890 | -4.8% |
| Tangible fixed assets | 22/27 | €607,989 | €579,099 | -€28,890 | -4.8% |
| Furniture and vehicles | 24 | €59,311 | €48,591 | -€10,719 | -18.1% |
| Other tangible fixed assets | 26 | €548,678 | €530,508 | -€18,171 | -3.3% |
| Current assets | 29/58 | €47,520 | €50,749 | +€3,230 | +6.8% |
| Cash at bank and in hand | 54/58 | €45,805 | €48,986 | +€3,181 | +6.9% |
| Deferred charges and accrued income | 490/1 | €1,715 | €1,763 | +€48 | +2.8% |
| Total equity and liabilities | 10/49 | €655,509 | €629,849 | -€25,660 | -3.9% |
| Equity | 10/15 | €471,259 | €467,542 | -€3,716 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €452,656 | €452,656 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €450,796 | €450,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3 | -€3,713 | -€3,716 | |
| Amounts payable | 17/49 | €184,250 | €162,306 | -€21,944 | -11.9% |
| Amounts payable after more than one year | 17 | €159,570 | €137,035 | -€22,535 | -14.1% |
| Financial debts | 170/4 | €159,570 | €137,035 | -€22,535 | -14.1% |
| Amounts payable within one year | 42/48 | €24,680 | €25,271 | +€591 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €21,791 | €22,618 | +€827 | +3.8% |
| Trade debts | 44 | €317 | €2,009 | +€1,692 | +534.3% |
| Suppliers | 440/4 | €317 | €2,009 | +€1,692 | +534.3% |
| Taxes, remuneration and social security | 45 | €2,008 | €80 | -€1,928 | -96.0% |
| Taxes | 450/3 | €2,008 | €80 | -€1,928 | -96.0% |
| Other amounts payable | 47/48 | €564 | €564 | = | 0.0% |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,867 | €30,369 | +€10,502 | +52.9% |
| Other operating charges | 640/8 | €3,423 | €2,815 | -€608 | -17.8% |
| Gross operating margin | 9900 | €49,195 | €37,902 | -€11,294 | -23.0% |
| Operating profit (loss) | 9901 | €25,905 | €4,718 | -€21,188 | -81.8% |
| Financial income | 75/76B | €66 | €295 | +€229 | +347.7% |
| Recurring financial income | 75 | €66 | €295 | +€229 | +347.7% |
| Financial charges | 65/66B | €7,010 | €8,559 | +€1,549 | +22.1% |
| Recurring financial charges | 65 | €7,010 | €8,559 | +€1,549 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €18,961 | -€3,547 | -€22,507 | |
| Income taxes | 67/77 | €2,028 | €169 | -€1,858 | -91.6% |
| Profit (loss) for the period | 9904 | €16,933 | -€3,716 | -€20,649 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,933 | -€3,716 | -€20,649 |
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.