VVS 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.
What changed
VVS IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€131,809
2024 · €118,232+€13,576
Equity
€1.5m
2024 · €1.4m+€131,809
Cash
€38,757
2024 · €48,509-€9,752
Balance sheet total
€3.1m
2024 · €3.2m-€104,060
Largest movements
Assets
- Tangible fixed assets -€107,986
down €107,986 (-3.4%), from €3.2m to €3.1m
Equity and liabilities
- Debts after one year -€222,215
down €222,215 (-18.7%), from €1.2m to €965,165
- Profit (loss) carried forward +€181,159
up €181,159 (+780.4%), from €23,213 to €204,372
- Reserves -€49,350
down €49,350 (-3.7%), from €1.3m to €1.3m
of which Tax-exempt reserves: -€49,350
Income statement
- Other operating charges -€6,861
down €6,861 (-16.0%), from €42,915 to €36,055
- Gross operating margin +€3,516
up €3,516 (+1.2%), from €282,230 to €285,746
- Financial charges -€3,428
down €3,428 (-13.5%), from €25,409 to €21,981
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.
Result 2024
€118,232
Gross operating margin
+€3,516
Depreciation
-€129
Other operating charges
+€6,861
Financial income
+€1
Financial charges
+€3,428
Taxes
-€100
Result 2025
€131,809
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.
From operations
+€213,790
Investment
-€4,268
Financing
-€219,275
Cash 2024
€48,509
From operations (derived)
+€213,790
Net result for the year
+€131,809
Depreciation
+€112,254
Receivables within one year
-€13,547
Smaller working-capital items
-€275
Provisions
-€16,450
Investment (derived)
-€4,268
Investment in fixed assets (net)
-€4,268
Financing
-€219,275
Debts after one year
-€222,215
Current portion of long-term debt
+€2,941
Cash 2025
€38,757
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,223,400 | €3,119,340 | -€104,060 | -3.2% |
| Fixed assets | 21/28 | €3,168,407 | €3,060,421 | -€107,986 | -3.4% |
| Tangible fixed assets | 22/27 | €3,168,407 | €3,060,421 | -€107,986 | -3.4% |
| Land and buildings | 22 | €3,168,407 | €3,060,421 | -€107,986 | -3.4% |
| Current assets | 29/58 | €54,993 | €58,919 | +€3,926 | +7.1% |
| Amounts receivable within one year | 40/41 | €2,279 | €15,826 | +€13,547 | +594.4% |
| Trade receivables | 40 | €2,279 | €15,826 | +€13,547 | +594.4% |
| Cash at bank and in hand | 54/58 | €48,509 | €38,757 | -€9,752 | -20.1% |
| Deferred charges and accrued income | 490/1 | €4,205 | €4,336 | +€131 | +3.1% |
| Total equity and liabilities | 10/49 | €3,223,400 | €3,119,340 | -€104,060 | -3.2% |
| Equity | 10/15 | €1,391,109 | €1,522,917 | +€131,809 | +9.5% |
| Contributions | 10/11 | €43,219 | €43,219 | = | 0.0% |
| Reserves | 13 | €1,324,676 | €1,275,326 | -€49,350 | -3.7% |
| Non-distributable reserves | 130/1 | €1,077 | €1,077 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,077 | €1,077 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,255,115 | €1,205,765 | -€49,350 | -3.9% |
| Distributable reserves | 133 | €68,484 | €68,484 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,213 | €204,372 | +€181,159 | +780.4% |
| Provisions and deferred taxes | 16 | €418,372 | €401,922 | -€16,450 | -3.9% |
| Deferred taxes | 168 | €418,372 | €401,922 | -€16,450 | -3.9% |
| Amounts payable | 17/49 | €1,413,920 | €1,194,501 | -€219,418 | -15.5% |
| Amounts payable after more than one year | 17 | €1,187,380 | €965,165 | -€222,215 | -18.7% |
| Financial debts | 170/4 | €1,187,380 | €965,165 | -€222,215 | -18.7% |
| Amounts payable within one year | 42/48 | €226,420 | €229,217 | +€2,797 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €169,275 | €172,215 | +€2,941 | +1.7% |
| Trade debts | 44 | €2,861 | €2,889 | +€28 | +1.0% |
| Suppliers | 440/4 | €2,861 | €2,889 | +€28 | +1.0% |
| Taxes, remuneration and social security | 45 | €13,704 | €14,067 | +€363 | +2.6% |
| Taxes | 450/3 | €13,704 | €14,067 | +€363 | +2.6% |
| Other amounts payable | 47/48 | €40,580 | €40,045 | -€535 | -1.3% |
| Accrued charges and deferred income | 492/3 | €120 | €120 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,124 | €112,254 | +€129 | +0.1% |
| Other operating charges | 640/8 | €42,915 | €36,055 | -€6,861 | -16.0% |
| Gross operating margin | 9900 | €282,230 | €285,746 | +€3,516 | +1.2% |
| Operating profit (loss) | 9901 | €127,191 | €137,438 | +€10,247 | +8.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €25,409 | €21,981 | -€3,428 | -13.5% |
| Recurring financial charges | 65 | €25,409 | €21,981 | -€3,428 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €101,782 | €115,458 | +€13,676 | +13.4% |
| Transfer from deferred taxes | 780 | €16,450 | €16,450 | = | 0.0% |
| Income taxes | 67/77 | - | €100 | +€100 | |
| Profit (loss) for the period | 9904 | €118,232 | €131,809 | +€13,576 | +11.5% |
| Transfer from tax-exempt reserves | 789 | €49,350 | €49,350 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €167,582 | €181,159 | +€13,576 | +8.1% |
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.