DB 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.
DB VASTGOED
Largest movements
- Current investments +€398,572
up €398,572 (+17,121%), from €2,328 to €400,900
- Stocks and contracts +€94,437
new in 2025: €94,437
- Tangible fixed assets -€31,743
down €31,743 (-49.8%), from €63,792 to €32,049
of which Land and buildings: -€18,143
- Cash +€28,405
up €28,405 (+69.6%), from €40,792 to €69,197
mainly Contributions, distributions and other (+€551,064) and Depreciation (+€34,139)
- Reserves +€445,368
up €445,368 (+228%), from €195,156 to €640,524
of which Distributable reserves: +€445,368
- Contributions +€48,000
up €48,000 (+11.8%), from €405,600 to €453,600
- Trade debts -€29,060
down €29,060 (-89.8%), from €32,349 to €3,289
- Other debts +€16,202
up €16,202 (+8.5%), from €191,708 to €207,910
- Gross operating margin -€35,621
down €35,621, from €24,646 to -€10,974
- Depreciation -€2,369
down €2,369 (-6.5%), from €36,507 to €34,139
- Taxes +€2,057
up €2,057 (+849%), from €242 to €2,300
- Financial income +€1,052
up €1,052 (+55.8%), from €1,884 to €2,937
- Staff costs -€745
no longer reported in 2025 (was €745)
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 | €835,400 | €1,309,735 | +€474,335 | +56.8% |
| Fixed assets | 21/28 | €767,381 | €733,099 | -€34,282 | -4.5% |
| Intangible fixed assets | 21 | €2,539 | - | -€2,539 | |
| Tangible fixed assets | 22/27 | €63,792 | €32,049 | -€31,743 | -49.8% |
| Land and buildings | 22 | €39,477 | €21,334 | -€18,143 | -46.0% |
| Plant, machinery and equipment | 23 | €7,611 | €6,313 | -€1,298 | -17.1% |
| Furniture and vehicles | 24 | €16,705 | €4,403 | -€12,302 | -73.6% |
| Financial fixed assets | 28 | €701,050 | €701,050 | = | 0.0% |
| Current assets | 29/58 | €68,019 | €576,636 | +€508,617 | +748% |
| Stocks and contracts in progress | 3 | - | €94,437 | +€94,437 | |
| Stocks | 30/36 | - | €94,437 | +€94,437 | |
| Amounts receivable within one year | 40/41 | €24,130 | €12,101 | -€12,029 | -49.8% |
| Trade receivables | 40 | €7,933 | €292 | -€7,641 | -96.3% |
| Other amounts receivable | 41 | €16,197 | €11,809 | -€4,388 | -27.1% |
| Current investments | 50/53 | €2,328 | €400,900 | +€398,572 | +17,121% |
| Cash at bank and in hand | 54/58 | €40,792 | €69,197 | +€28,405 | +69.6% |
| Deferred charges and accrued income | 490/1 | €769 | - | -€769 | |
| Total equity and liabilities | 10/49 | €835,400 | €1,309,735 | +€474,335 | +56.8% |
| Equity | 10/15 | €600,756 | €1,094,124 | +€493,368 | +82.1% |
| Contributions | 10/11 | €405,600 | €453,600 | +€48,000 | +11.8% |
| Reserves | 13 | €195,156 | €640,524 | +€445,368 | +228% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €157,656 | €603,024 | +€445,368 | +282% |
| Amounts payable | 17/49 | €234,644 | €215,611 | -€19,033 | -8.1% |
| Amounts payable after more than one year | 17 | €2,067 | - | -€2,067 | |
| Financial debts | 170/4 | €2,067 | - | -€2,067 | |
| Amounts payable within one year | 42/48 | €232,576 | €215,611 | -€16,965 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €8,268 | €2,067 | -€6,201 | -75.0% |
| Trade debts | 44 | €32,349 | €3,289 | -€29,060 | -89.8% |
| Suppliers | 440/4 | €32,349 | €3,289 | -€29,060 | -89.8% |
| Taxes, remuneration and social security | 45 | €251 | €2,345 | +€2,093 | +832% |
| Taxes | 450/3 | €251 | €2,345 | +€2,093 | +832% |
| Other amounts payable | 47/48 | €191,708 | €207,910 | +€16,202 | +8.5% |
| Remuneration, social security and pensions | 62 | €745 | - | -€745 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,507 | €34,139 | -€2,369 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €240 | - | -€240 | |
| Other operating charges | 640/8 | €9,546 | €9,904 | +€358 | +3.7% |
| Non-recurring operating charges | 66A | - | €2,539 | +€2,539 | |
| Gross operating margin | 9900 | €24,646 | -€10,974 | -€35,621 | |
| Operating profit (loss) | 9901 | -€22,392 | -€57,556 | -€35,164 | -157% |
| Financial income | 75/76B | €1,884 | €2,937 | +€1,052 | +55.8% |
| Recurring financial income | 75 | €1,884 | €2,937 | +€1,052 | +55.8% |
| Financial charges | 65/66B | €406 | €777 | +€372 | +91.6% |
| Recurring financial charges | 65 | €406 | €777 | +€372 | +91.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,913 | -€55,396 | -€34,483 | -165% |
| Income taxes | 67/77 | €242 | €2,300 | +€2,057 | +849% |
| Profit (loss) for the period | 9904 | -€21,155 | -€57,696 | -€36,541 | -173% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,155 | -€57,696 | -€36,541 | -173% |
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 22 October 2026 via checked.be.