Vulpis 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.
Vulpis Immo
Largest movements
- Tangible fixed assets +€413,051
up €413,051 (+24.8%), from €1.7m to €2.1m
of which Land and buildings: +€413,356
- Debts after one year +€326,178
up €326,178 (+264.9%), from €123,119 to €449,298
- Other debts +€115,666
up €115,666 (+42193.7%), from €274 to €115,940
- Profit (loss) carried forward -€69,345
down €69,345 (-42.5%), from -€163,107 to -€232,452
- Depreciation +€52,540
up €52,540 (+127.9%), from €41,072 to €93,612
- Gross operating margin +€14,370
up €14,370 (+45.5%), from €31,554 to €45,924
- Financial charges +€12,966
up €12,966 (+1964.4%), from €660 to €13,626
- Other operating charges +€2,501
up €2,501 (+45.2%), from €5,532 to €8,033
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 | €1,696,272 | €2,105,833 | +€409,561 | +24.1% |
| Fixed assets | 21/28 | €1,665,679 | €2,078,730 | +€413,051 | +24.8% |
| Tangible fixed assets | 22/27 | €1,665,679 | €2,078,730 | +€413,051 | +24.8% |
| Land and buildings | 22 | €1,664,400 | €2,077,755 | +€413,356 | +24.8% |
| Plant, machinery and equipment | 23 | €1,280 | €975 | -€305 | -23.8% |
| Current assets | 29/58 | €30,593 | €27,103 | -€3,490 | -11.4% |
| Cash at bank and in hand | 54/58 | €30,488 | €26,993 | -€3,495 | -11.5% |
| Deferred charges and accrued income | 490/1 | €105 | €110 | +€5 | +5.0% |
| Total equity and liabilities | 10/49 | €1,696,272 | €2,105,833 | +€409,561 | +24.1% |
| Equity | 10/15 | €1,562,945 | €1,493,600 | -€69,345 | -4.4% |
| Contributions | 10/11 | €1,726,052 | €1,726,052 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,107 | -€232,452 | -€69,345 | -42.5% |
| Amounts payable | 17/49 | €133,328 | €612,234 | +€478,906 | +359.2% |
| Amounts payable after more than one year | 17 | €123,119 | €449,298 | +€326,178 | +264.9% |
| Financial debts | 170/4 | €123,119 | €449,298 | +€326,178 | +264.9% |
| Amounts payable within one year | 42/48 | €9,021 | €150,241 | +€141,220 | +1565.4% |
| Current portion of amounts payable after more than one year | 42 | €6,881 | €25,822 | +€18,941 | +275.3% |
| Trade debts | 44 | €1,867 | €8,480 | +€6,613 | +354.3% |
| Suppliers | 440/4 | €1,867 | €8,480 | +€6,613 | +354.3% |
| Other amounts payable | 47/48 | €274 | €115,940 | +€115,666 | +42193.7% |
| Accrued charges and deferred income | 492/3 | €1,187 | €12,695 | +€11,508 | +969.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,072 | €93,612 | +€52,540 | +127.9% |
| Other operating charges | 640/8 | €5,532 | €8,033 | +€2,501 | +45.2% |
| Gross operating margin | 9900 | €31,554 | €45,924 | +€14,370 | +45.5% |
| Operating profit (loss) | 9901 | -€15,050 | -€55,721 | -€40,671 | -270.2% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €660 | €13,626 | +€12,966 | +1964.4% |
| Recurring financial charges | 65 | €660 | €13,626 | +€12,966 | +1964.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,710 | -€69,345 | -€53,635 | -341.4% |
| Profit (loss) for the period | 9904 | -€15,710 | -€69,345 | -€53,635 | -341.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,710 | -€69,345 | -€53,635 | -341.4% |
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 9 October 2026 via checked.be.