De Vastgoedonderneming: 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.
De Vastgoedonderneming
Largest movements
- Cash -€224,189
down €224,189 (-90.1%), from €248,935 to €24,746
mainly Investment in fixed assets (net) (-€159,476) and Net result for the year (-€125,670)
- Tangible fixed assets +€119,544
up €119,544 (+320%), from €37,322 to €156,866
of which Other tangible fixed assets: +€103,312
- Receivables within one year +€6,565
up €6,565 (+7.9%), from €82,951 to €89,516
of which Other amounts receivable: +€6,662
- Profit (loss) carried forward -€125,670
down €125,670 (-71.7%), from €175,386 to €49,717
- Debts after one year +€92,228
up €92,228 (+436%), from €21,144 to €113,372
- Advances received -€81,209
down €81,209 (-100%), from €81,209 to €0
- Other debts -€75,647
down €75,647 (-93.0%), from €81,348 to €5,701
- Trade debts +€74,124
up €74,124 (+655%), from €11,311 to €85,435
- Gross operating margin -€183,010
down €183,010, from €147,646 to -€35,364
- Depreciation +€15,556
up €15,556 (+71.3%), from €21,818 to €37,374
- Staff costs +€10,828
up €10,828 (+27.5%), from €39,342 to €50,169
- Taxes -€3,290
down €3,290 (-95.1%), from €3,461 to €171
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 | €397,880 | €302,361 | -€95,519 | -24.0% |
| Fixed assets | 21/28 | €65,397 | €187,498 | +€122,102 | +187% |
| Intangible fixed assets | 21 | €27,755 | €30,632 | +€2,877 | +10.4% |
| Tangible fixed assets | 22/27 | €37,322 | €156,866 | +€119,544 | +320% |
| Land and buildings | 22 | €27,170 | €24,001 | -€3,170 | -11.7% |
| Furniture and vehicles | 24 | €8,278 | €27,680 | +€19,402 | +234% |
| Other tangible fixed assets | 26 | €1,873 | €105,185 | +€103,312 | +5,517% |
| Financial fixed assets | 28 | €320 | €0 | -€320 | -100% |
| Current assets | 29/58 | €332,483 | €114,863 | -€217,621 | -65.5% |
| Amounts receivable within one year | 40/41 | €82,951 | €89,516 | +€6,565 | +7.9% |
| Trade receivables | 40 | €97 | €0 | -€97 | -100% |
| Other amounts receivable | 41 | €82,854 | €89,516 | +€6,662 | +8.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €248,935 | €24,746 | -€224,189 | -90.1% |
| Deferred charges and accrued income | 490/1 | €598 | €601 | +€3 | +0.5% |
| Total equity and liabilities | 10/49 | €397,880 | €302,361 | -€95,519 | -24.0% |
| Equity | 10/15 | €185,386 | €59,717 | -€125,670 | -67.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,386 | €49,717 | -€125,670 | -71.7% |
| Amounts payable | 17/49 | €212,494 | €242,644 | +€30,150 | +14.2% |
| Amounts payable after more than one year | 17 | €21,144 | €113,372 | +€92,228 | +436% |
| Financial debts | 170/4 | €21,144 | €113,372 | +€92,228 | +436% |
| Amounts payable within one year | 42/48 | €191,350 | €129,272 | -€62,078 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €6,869 | €24,987 | +€18,118 | +264% |
| Financial debts | 43 | €1,932 | €524 | -€1,408 | -72.9% |
| Credit institutions | 430/8 | €1,932 | €524 | -€1,408 | -72.9% |
| Trade debts | 44 | €11,311 | €85,435 | +€74,124 | +655% |
| Suppliers | 440/4 | €11,311 | €85,435 | +€74,124 | +655% |
| Advances received on contracts in progress | 46 | €81,209 | €0 | -€81,209 | -100% |
| Taxes, remuneration and social security | 45 | €8,682 | €12,626 | +€3,944 | +45.4% |
| Taxes | 450/3 | €1,083 | €1,499 | +€417 | +38.5% |
| Remuneration and social security | 454/9 | €7,599 | €11,127 | +€3,528 | +46.4% |
| Other amounts payable | 47/48 | €81,348 | €5,701 | -€75,647 | -93.0% |
| Remuneration, social security and pensions | 62 | €39,342 | €50,169 | +€10,828 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,818 | €37,374 | +€15,556 | +71.3% |
| Other operating charges | 640/8 | €1,242 | €857 | -€385 | -31.0% |
| Gross operating margin | 9900 | €147,646 | -€35,364 | -€183,010 | |
| Operating profit (loss) | 9901 | €85,244 | -€123,765 | -€209,009 | |
| Financial income | 75/76B | €3,057 | €2,072 | -€985 | -32.2% |
| Recurring financial income | 75 | €3,057 | €2,072 | -€985 | -32.2% |
| Financial charges | 65/66B | €3,282 | €3,805 | +€523 | +16.0% |
| Recurring financial charges | 65 | €3,282 | €3,805 | +€523 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €85,019 | -€125,499 | -€210,518 | |
| Income taxes | 67/77 | €3,461 | €171 | -€3,290 | -95.1% |
| Profit (loss) for the period | 9904 | €81,558 | -€125,670 | -€207,228 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,558 | -€125,670 | -€207,228 |
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 15 October 2026 via checked.be.