G.M. 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.
G.M. VASTGOED
Largest movements
- Current investments +€45,941
up €45,941 (+7.6%), from €607,772 to €653,713
- Reserves +€41,457
up €41,457 (+3.7%), from €1.1m to €1.1m
of which Distributable reserves: +€41,457
- Financial charges -€199,276
down €199,276, from €58,617 to -€140,659
- Gross operating margin -€23,465
down €23,465, from €7,850 to -€15,615
- Financial income -€15,389
down €15,389 (-48.8%), from €31,505 to €16,116
- Taxes -€9,521
down €9,521 (-69.7%), from €13,667 to €4,146
- Other operating charges -€1,077
down €1,077 (-25.4%), from €4,236 to €3,159
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 | €1,229,679 | €1,271,868 | +€42,189 | +3.4% |
| Fixed assets | 21/28 | €1,311 | €373 | -€938 | -71.6% |
| Tangible fixed assets | 22/27 | €1,311 | €373 | -€938 | -71.6% |
| Land and buildings | 22 | €427 | €305 | -€122 | -28.6% |
| Furniture and vehicles | 24 | €884 | €68 | -€816 | -92.3% |
| Current assets | 29/58 | €1,228,368 | €1,271,495 | +€43,127 | +3.5% |
| Amounts receivable within one year | 40/41 | €604,894 | €611,962 | +€7,068 | +1.2% |
| Other amounts receivable | 41 | €604,894 | €611,962 | +€7,068 | +1.2% |
| Current investments | 50/53 | €607,772 | €653,713 | +€45,941 | +7.6% |
| Cash at bank and in hand | 54/58 | €15,468 | €5,573 | -€9,895 | -64.0% |
| Deferred charges and accrued income | 490/1 | €234 | €247 | +€13 | +5.5% |
| Total equity and liabilities | 10/49 | €1,229,679 | €1,271,868 | +€42,189 | +3.4% |
| Equity | 10/15 | €1,229,092 | €1,270,549 | +€41,457 | +3.4% |
| Contributions | 10/11 | €121,000 | €121,000 | = | 0.0% |
| Capital | 10 | €121,000 | €121,000 | = | 0.0% |
| Issued capital | 100 | €121,000 | €121,000 | = | 0.0% |
| Reserves | 13 | €1,108,092 | €1,149,549 | +€41,457 | +3.7% |
| Non-distributable reserves | 130/1 | €12,100 | €12,100 | = | 0.0% |
| Legal reserve | 130 | €12,100 | €12,100 | = | 0.0% |
| Distributable reserves | 133 | €1,095,992 | €1,137,449 | +€41,457 | +3.8% |
| Amounts payable | 17/49 | €587 | €1,319 | +€732 | +125% |
| Amounts payable within one year | 42/48 | - | €1,319 | +€1,319 | |
| Trade debts | 44 | - | €1,319 | +€1,319 | |
| Suppliers | 440/4 | - | €1,319 | +€1,319 | |
| Accrued charges and deferred income | 492/3 | €587 | - | -€587 | |
| Non-recurring operating income | 76A | €20,668 | - | -€20,668 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €938 | €938 | = | 0.0% |
| Other operating charges | 640/8 | €4,236 | €3,159 | -€1,077 | -25.4% |
| Non-recurring operating charges | 66A | €330 | €91,459 | +€91,128 | +27,581% |
| Gross operating margin | 9900 | €7,850 | -€15,615 | -€23,465 | |
| Operating profit (loss) | 9901 | €2,346 | -€111,171 | -€113,517 | |
| Financial income | 75/76B | €31,505 | €16,116 | -€15,389 | -48.8% |
| Recurring financial income | 75 | €31,505 | €16,116 | -€15,389 | -48.8% |
| Financial charges | 65/66B | €58,617 | -€140,659 | -€199,276 | |
| Recurring financial charges | 65 | €58,617 | -€140,659 | -€199,276 | |
| Profit (loss) for the period before taxes | 9903 | -€24,766 | €45,603 | +€70,370 | |
| Transfer from deferred taxes | 780 | €6,341 | - | -€6,341 | |
| Income taxes | 67/77 | €13,667 | €4,146 | -€9,521 | -69.7% |
| Profit (loss) for the period | 9904 | -€32,093 | €41,457 | +€73,550 | |
| Transfer from tax-exempt reserves | 789 | €19,824 | - | -€19,824 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,269 | €41,457 | +€53,726 |
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 29 October 2026 via checked.be.