BREUGEL VASTGOED: what changed
What changed
BREUGEL VASTGOED
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€32,645
2024 · €61,582-€28,936
Equity
€5,472
2024 · -€27,173+€32,645
Cash
€18,623
2024 · €18,225+€398
Balance sheet total
€2.3m
2024 · €2.3m-€65,622
Largest movements
Assets
- Tangible fixed assets -€74,014
down €74,014 (-3.7%), from €2.0m to €1.9m
Equity and liabilities
- Debts after one year -€113,164
down €113,164 (-5.2%), from €2.2m to €2.1m
of which Financial debts: -€113,164
- Profit (loss) carried forward +€32,645
up €32,645 (+87.6%), from -€37,253 to -€4,608
Income statement
- Gross operating margin -€16,827
down €16,827 (-8.6%), from €195,414 to €178,587
- Other operating charges +€13,353
up €13,353 (+5,481%), from €244 to €13,597
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€61,582
Gross operating margin
-€16,827
Depreciation
-€60
Other operating charges
-€13,353
Other operating items
-€475
Financial income
+€467
Financial charges
+€1,311
Result 2025
€32,645
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€110,654
Investment
€0
Financing
-€110,256
Cash 2024
€18,225
From operations (derived)
+€110,654
Net result for the year
+€32,645
Depreciation
+€74,014
Receivables after one year
+€11,503
Receivables within one year
-€19,504
Smaller working-capital items
+€254
Trade debts
-€11,280
Accrued charges and deferred income
+€23,021
Financing
-€110,256
Debts after one year
-€113,164
Current portion of long-term debt
+€2,908
Cash 2025
€18,623
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,324,754 | €2,259,133 | -€65,622 | -2.8% |
| Fixed assets | 21/28 | €2,030,388 | €1,956,373 | -€74,014 | -3.6% |
| Tangible fixed assets | 22/27 | €2,021,434 | €1,947,420 | -€74,014 | -3.7% |
| Land and buildings | 22 | €2,021,434 | €1,947,420 | -€74,014 | -3.7% |
| Financial fixed assets | 28 | €8,953 | €8,953 | = | 0.0% |
| Current assets | 29/58 | €294,367 | €302,759 | +€8,393 | +2.9% |
| Amounts receivable after more than one year | 29 | €237,753 | €226,249 | -€11,503 | -4.8% |
| Other amounts receivable | 291 | €237,753 | €226,249 | -€11,503 | -4.8% |
| Amounts receivable within one year | 40/41 | €38,383 | €57,887 | +€19,504 | +50.8% |
| Trade receivables | 40 | €37,713 | €45,176 | +€7,463 | +19.8% |
| Other amounts receivable | 41 | €670 | €12,711 | +€12,041 | +1,798% |
| Cash at bank and in hand | 54/58 | €18,225 | €18,623 | +€398 | +2.2% |
| Deferred charges and accrued income | 490/1 | €6 | €0 | -€6 | -100% |
| Total equity and liabilities | 10/49 | €2,324,754 | €2,259,133 | -€65,622 | -2.8% |
| Equity | 10/15 | -€27,173 | €5,472 | +€32,645 | |
| Contributions | 10/11 | €10,080 | €10,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,253 | -€4,608 | +€32,645 | +87.6% |
| Amounts payable | 17/49 | €2,351,928 | €2,253,661 | -€98,267 | -4.2% |
| Amounts payable after more than one year | 17 | €2,166,123 | €2,052,959 | -€113,164 | -5.2% |
| Financial debts | 170/4 | €1,836,079 | €1,722,915 | -€113,164 | -6.2% |
| Other amounts payable | 178/9 | €330,044 | €330,044 | = | 0.0% |
| Amounts payable within one year | 42/48 | €185,805 | €177,681 | -€8,124 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €110,256 | €113,164 | +€2,908 | +2.6% |
| Trade debts | 44 | €34,514 | €23,234 | -€11,280 | -32.7% |
| Suppliers | 440/4 | €34,514 | €23,234 | -€11,280 | -32.7% |
| Taxes, remuneration and social security | 45 | €9,534 | €9,783 | +€248 | +2.6% |
| Taxes | 450/3 | €9,534 | €9,783 | +€248 | +2.6% |
| Other amounts payable | 47/48 | €31,500 | €31,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €23,021 | +€23,021 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,955 | €74,014 | +€60 | +0.1% |
| Other operating charges | 640/8 | €244 | €13,597 | +€13,353 | +5,481% |
| Non-recurring operating charges | 66A | - | €475 | +€475 | |
| Gross operating margin | 9900 | €195,414 | €178,587 | -€16,827 | -8.6% |
| Operating profit (loss) | 9901 | €121,216 | €90,502 | -€30,714 | -25.3% |
| Financial income | 75/76B | €12,270 | €12,737 | +€467 | +3.8% |
| Recurring financial income | 75 | €12,270 | €12,737 | +€467 | +3.8% |
| Financial charges | 65/66B | €71,904 | €70,593 | -€1,311 | -1.8% |
| Recurring financial charges | 65 | €71,904 | €70,593 | -€1,311 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €61,582 | €32,645 | -€28,936 | -47.0% |
| Profit (loss) for the period | 9904 | €61,582 | €32,645 | -€28,936 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,582 | €32,645 | -€28,936 | -47.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.