VSCP 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.
VSCP IMMO
Largest movements
- Cash -€30,931
down €30,931 (-91.6%), from €33,777 to €2,845
mainly Investment in fixed assets (net) (-€43,258) and Net result for the year (-€28,789)
- Tangible fixed assets +€25,245
up €25,245 (+7.0%), from €358,788 to €384,032
of which Furniture and vehicles: +€25,087
- Other debts +€32,080
up €32,080 (+15.9%), from €201,470 to €233,550
- Profit (loss) carried forward -€28,789
down €28,789 (-12.8%), from -€224,901 to -€253,691
- Gross operating margin -€45,413
down €45,413, from €38,474 to -€6,938
- Purchases and services +€30,851
new in 2025: €30,851
- Depreciation +€6,089
up €6,089 (+51.1%), from €11,925 to €18,014
- Other operating charges -€410
down €410 (-11.0%), from €3,716 to €3,306
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.
Derived cash bridge
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 | €393,039 | €389,939 | -€3,100 | -0.8% |
| Fixed assets | 21/28 | €358,788 | €384,032 | +€25,245 | +7.0% |
| Tangible fixed assets | 22/27 | €358,788 | €384,032 | +€25,245 | +7.0% |
| Land and buildings | 22 | €318,386 | €316,636 | -€1,750 | -0.5% |
| Plant, machinery and equipment | 23 | €9,451 | €11,359 | +€1,908 | +20.2% |
| Furniture and vehicles | 24 | €30,951 | €56,037 | +€25,087 | +81.1% |
| Current assets | 29/58 | €34,252 | €5,907 | -€28,345 | -82.8% |
| Amounts receivable within one year | 40/41 | €475 | €3,062 | +€2,587 | +544% |
| Trade receivables | 40 | - | €2,990 | +€2,990 | |
| Other amounts receivable | 41 | €475 | €72 | -€403 | -84.8% |
| Cash at bank and in hand | 54/58 | €33,777 | €2,845 | -€30,931 | -91.6% |
| Total equity and liabilities | 10/49 | €393,039 | €389,939 | -€3,100 | -0.8% |
| Equity | 10/15 | €180,099 | €151,309 | -€28,789 | -16.0% |
| Contributions | 10/11 | €405,000 | €405,000 | = | 0.0% |
| Capital | 10 | €405,000 | €405,000 | = | 0.0% |
| Issued capital | 100 | €405,000 | €405,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,901 | -€253,691 | -€28,789 | -12.8% |
| Amounts payable | 17/49 | €212,941 | €238,630 | +€25,689 | +12.1% |
| Amounts payable after more than one year | 17 | €5,080 | €1,719 | -€3,361 | -66.2% |
| Financial debts | 170/4 | €5,080 | €1,719 | -€3,361 | -66.2% |
| Amounts payable within one year | 42/48 | €207,861 | €236,911 | +€29,051 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €3,261 | €3,361 | +€100 | +3.1% |
| Trade debts | 44 | €3,129 | - | -€3,129 | |
| Suppliers | 440/4 | €3,129 | - | -€3,129 | |
| Other amounts payable | 47/48 | €201,470 | €233,550 | +€32,080 | +15.9% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €30,851 | +€30,851 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,925 | €18,014 | +€6,089 | +51.1% |
| Other operating charges | 640/8 | €3,716 | €3,306 | -€410 | -11.0% |
| Gross operating margin | 9900 | €38,474 | -€6,938 | -€45,413 | |
| Operating profit (loss) | 9901 | €22,833 | -€28,258 | -€51,091 | |
| Financial income | 75/76B | €0 | €1 | +€0 | +4,900% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +4,900% |
| Non-recurring financial income | 76B | €0 | €1 | +€0 | +4,900% |
| Financial charges | 65/66B | €656 | €532 | -€124 | -18.9% |
| Recurring financial charges | 65 | €656 | €531 | -€125 | -19.0% |
| Non-recurring financial charges | 66B | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | €22,177 | -€28,789 | -€50,967 | |
| Profit (loss) for the period | 9904 | €22,177 | -€28,789 | -€50,967 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,177 | -€28,789 | -€50,967 |
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 13 October 2026 via checked.be.