CD-Vastgoed: 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.
CD-Vastgoed
Largest movements
- Cash +€347,927
up €347,927 (+130%), from €267,248 to €615,175
mainly Stocks and contracts (+€266,430) and Net result for the year (+€152,249)
- Stocks and contracts -€266,430
down €266,430 (-100%), from €266,430 to €0
- Deferred charges and accrued income +€86,022
up €86,022 (+1,837%), from €4,682 to €90,704
- Receivables within one year -€50,353
down €50,353 (-16.6%), from €303,228 to €252,875
of which Trade receivables: -€39,674
- Tangible fixed assets -€40,370
down €40,370 (-12.6%), from €320,563 to €280,193
of which Land and buildings: -€33,200
- Reserves +€152,249
up €152,249 (+18.0%), from €844,435 to €996,684
of which Distributable reserves: +€152,249
- Other debts -€60,000
down €60,000 (-100%), from €60,000 to €0
- Debts after one year -€41,180
down €41,180 (-42.5%), from €96,973 to €55,793
- Tax, wage and social debts +€33,431
up €33,431 (+67.0%), from €49,901 to €83,331
of which Taxes: +€37,965
- Gross operating margin -€187,832
down €187,832 (-30.0%), from €625,416 to €437,585
- Staff costs -€51,740
down €51,740 (-26.2%), from €197,436 to €145,696
- Taxes -€40,596
down €40,596 (-34.9%), from €116,235 to €75,639
- Depreciation +€8,637
up €8,637 (+19.4%), from €44,609 to €53,246
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 | €1,171,626 | €1,247,204 | +€75,578 | +6.5% |
| Fixed assets | 21/28 | €329,858 | €288,269 | -€41,588 | -12.6% |
| Intangible fixed assets | 21 | €4,374 | €3,156 | -€1,218 | -27.8% |
| Tangible fixed assets | 22/27 | €320,563 | €280,193 | -€40,370 | -12.6% |
| Land and buildings | 22 | €268,350 | €235,150 | -€33,200 | -12.4% |
| Plant, machinery and equipment | 23 | €8,088 | €8,183 | +€95 | +1.2% |
| Furniture and vehicles | 24 | €44,126 | €36,860 | -€7,266 | -16.5% |
| Financial fixed assets | 28 | €4,920 | €4,920 | = | 0.0% |
| Current assets | 29/58 | €841,768 | €958,934 | +€117,166 | +13.9% |
| Amounts receivable after more than one year | 29 | €180 | €180 | = | 0.0% |
| Other amounts receivable | 291 | €180 | €180 | = | 0.0% |
| Stocks and contracts in progress | 3 | €266,430 | €0 | -€266,430 | -100% |
| Stocks | 30/36 | €266,430 | €0 | -€266,430 | -100% |
| Amounts receivable within one year | 40/41 | €303,228 | €252,875 | -€50,353 | -16.6% |
| Trade receivables | 40 | €292,549 | €252,875 | -€39,674 | -13.6% |
| Other amounts receivable | 41 | €10,679 | €0 | -€10,679 | -100% |
| Cash at bank and in hand | 54/58 | €267,248 | €615,175 | +€347,927 | +130% |
| Deferred charges and accrued income | 490/1 | €4,682 | €90,704 | +€86,022 | +1,837% |
| Total equity and liabilities | 10/49 | €1,171,626 | €1,247,204 | +€75,578 | +6.5% |
| Equity | 10/15 | €866,435 | €1,018,684 | +€152,249 | +17.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €844,435 | €996,684 | +€152,249 | +18.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €825,685 | €977,934 | +€152,249 | +18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €305,191 | €228,520 | -€76,672 | -25.1% |
| Amounts payable after more than one year | 17 | €96,973 | €55,793 | -€41,180 | -42.5% |
| Financial debts | 170/4 | €96,973 | €55,793 | -€41,180 | -42.5% |
| Amounts payable within one year | 42/48 | €208,218 | €172,727 | -€35,492 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €44,951 | €41,180 | -€3,771 | -8.4% |
| Financial debts | 43 | €3,304 | €3,090 | -€214 | -6.5% |
| Credit institutions | 430/8 | €3,304 | €3,090 | -€214 | -6.5% |
| Trade debts | 44 | €50,062 | €45,125 | -€4,936 | -9.9% |
| Suppliers | 440/4 | €50,062 | €45,125 | -€4,936 | -9.9% |
| Taxes, remuneration and social security | 45 | €49,901 | €83,331 | +€33,431 | +67.0% |
| Taxes | 450/3 | €36,996 | €74,962 | +€37,965 | +103% |
| Remuneration and social security | 454/9 | €12,905 | €8,370 | -€4,535 | -35.1% |
| Other amounts payable | 47/48 | €60,000 | €0 | -€60,000 | -100% |
| Remuneration, social security and pensions | 62 | €197,436 | €145,696 | -€51,740 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,609 | €53,246 | +€8,637 | +19.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,340 | €0 | -€2,340 | -100% |
| Other operating charges | 640/8 | €8,097 | €8,499 | +€402 | +5.0% |
| Gross operating margin | 9900 | €625,416 | €437,585 | -€187,832 | -30.0% |
| Operating profit (loss) | 9901 | €372,935 | €230,144 | -€142,791 | -38.3% |
| Financial income | 75/76B | €858 | €1,704 | +€846 | +98.6% |
| Recurring financial income | 75 | €858 | €1,704 | +€846 | +98.6% |
| Financial charges | 65/66B | €5,595 | €3,960 | -€1,636 | -29.2% |
| Recurring financial charges | 65 | €5,595 | €3,960 | -€1,636 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €368,198 | €227,888 | -€140,310 | -38.1% |
| Income taxes | 67/77 | €116,235 | €75,639 | -€40,596 | -34.9% |
| Profit (loss) for the period | 9904 | €251,962 | €152,249 | -€99,713 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €251,962 | €152,249 | -€99,713 | -39.6% |
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 20 October 2026 via checked.be.