VS 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.
VS IMMO
Largest movements
- Cash +€13,515
up €13,515 (+134.9%), from €10,015 to €23,530
mainly Net result for the year (+€13,754) and Tax, wage and social debts (+€4,818)
- Tangible fixed assets -€4,549
down €4,549 (-4.0%), from €113,364 to €108,815
of which Land and buildings: -€4,249
- Receivables within one year -€2,583
down €2,583 (-15.9%), from €16,234 to €13,650
- Reserves +€75,393
up €75,393 (+244.3%), from €30,864 to €106,257
- Profit (loss) carried forward -€61,639
down €61,639 (-100.0%), from €61,639 to €0
- Other debts -€12,350
down €12,350 (-45.8%), from €26,937 to €14,588
- Tax, wage and social debts +€4,818
up €4,818 (+233.3%), from €2,065 to €6,883
- Gross operating margin +€3,206
up €3,206 (+13.0%), from €24,691 to €27,897
- Taxes +€1,068
up €1,068 (+18.4%), from €5,815 to €6,883
- Financial charges +€438
up €438 (+60.5%), from €725 to €1,163
- Other operating charges +€410
up €410 (+36.0%), from €1,138 to €1,548
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 | €140,339 | €146,727 | +€6,389 | +4.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €113,364 | €108,815 | -€4,549 | -4.0% |
| Tangible fixed assets | 22/27 | €113,364 | €108,815 | -€4,549 | -4.0% |
| Land and buildings | 22 | €113,004 | €108,755 | -€4,249 | -3.8% |
| Furniture and vehicles | 24 | €360 | €60 | -€300 | -83.3% |
| Current assets | 29/58 | €26,975 | €37,912 | +€10,938 | +40.5% |
| Amounts receivable within one year | 40/41 | €16,234 | €13,650 | -€2,583 | -15.9% |
| Other amounts receivable | 41 | €16,234 | €13,650 | -€2,583 | -15.9% |
| Cash at bank and in hand | 54/58 | €10,015 | €23,530 | +€13,515 | +134.9% |
| Deferred charges and accrued income | 490/1 | €726 | €731 | +€6 | +0.8% |
| Total equity and liabilities | 10/49 | €140,339 | €146,727 | +€6,389 | +4.6% |
| Equity | 10/15 | €111,103 | €124,857 | +€13,754 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,864 | €106,257 | +€75,393 | +244.3% |
| Distributable reserves | 133 | €30,864 | €106,257 | +€75,393 | +244.3% |
| Profit (loss) carried forward | 14 | €61,639 | €0 | -€61,639 | -100.0% |
| Amounts payable | 17/49 | €29,236 | €21,870 | -€7,366 | -25.2% |
| Amounts payable within one year | 42/48 | €29,236 | €21,471 | -€7,765 | -26.6% |
| Trade debts | 44 | €234 | €0 | -€234 | -100.0% |
| Suppliers | 440/4 | €234 | €0 | -€234 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,065 | €6,883 | +€4,818 | +233.3% |
| Taxes | 450/3 | €2,065 | €6,883 | +€4,818 | +233.3% |
| Other amounts payable | 47/48 | €26,937 | €14,588 | -€12,350 | -45.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,549 | €4,549 | = | 0.0% |
| Other operating charges | 640/8 | €1,138 | €1,548 | +€410 | +36.0% |
| Gross operating margin | 9900 | €24,691 | €27,897 | +€3,206 | +13.0% |
| Operating profit (loss) | 9901 | €19,004 | €21,800 | +€2,796 | +14.7% |
| Financial charges | 65/66B | €725 | €1,163 | +€438 | +60.5% |
| Recurring financial charges | 65 | €725 | €1,163 | +€438 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | €18,279 | €20,637 | +€2,358 | +12.9% |
| Income taxes | 67/77 | €5,815 | €6,883 | +€1,068 | +18.4% |
| Profit (loss) for the period | 9904 | €12,464 | €13,754 | +€1,290 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,464 | €13,754 | +€1,290 | +10.4% |
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 30 September 2026 via checked.be.