HAECK-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.
What changed
HAECK-VASTGOED
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€56,995
2024 · €47,608+€9,387
Equity
€1.4m
2024 · €1.4m-€12,145
Cash
€2,276
2024 · €9,884-€7,609
Balance sheet total
€2.4m
2024 · €2.5m-€45,545
Largest movements
Assets
- Tangible fixed assets -€26,169
down €26,169 (-1.8%), from €1.5m to €1.4m
Equity and liabilities
- Debts after one year -€106,198
down €106,198 (-10.8%), from €980,315 to €874,117
- Other debts +€69,139
up €69,139, from €0 to €69,139
Income statement
- Depreciation -€5,233
down €5,233 (-16.7%), from €31,402 to €26,169
- Gross operating margin +€4,873
up €4,873 (+3.5%), from €139,065 to €143,937
- Taxes +€3,094
up €3,094 (+19.5%), from €15,904 to €18,998
- Financial charges -€2,617
down €2,617 (-7.4%), from €35,394 to €32,778
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.
Result 2024
€47,608
Gross operating margin
+€4,873
Depreciation
+€5,233
Other operating charges
-€242
Financial charges
+€2,617
Taxes
-€3,094
Result 2025
€56,995
raises the resultlowers the result
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.
From operations
+€166,876
Investment
+€35
Financing
-€174,519
Cash 2024
€9,884
From operations (derived)
+€166,876
Net result for the year
+€56,995
Depreciation
+€26,169
Receivables within one year
+€11,734
Deferred charges and accrued income
-€1
Trade debts
-€3,519
Tax, wage and social debts
+€6,359
Other debts
+€69,139
Investment (derived)
+€35
Investment in fixed assets (net)
+€35
Financing
-€174,519
Debts after one year
-€106,198
Current portion of long-term debt
+€2,525
Short-term financial debts
-€1,706
Contributions, distributions and other
-€69,139
Cash 2025
€2,276
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,457,412 | €2,411,867 | -€45,545 | -1.9% |
| Fixed assets | 21/28 | €1,457,727 | €1,431,524 | -€26,204 | -1.8% |
| Tangible fixed assets | 22/27 | €1,457,692 | €1,431,524 | -€26,169 | -1.8% |
| Land and buildings | 22 | €1,457,692 | €1,431,524 | -€26,169 | -1.8% |
| Financial fixed assets | 28 | €35 | €0 | -€35 | -100% |
| Current assets | 29/58 | €999,685 | €980,343 | -€19,341 | -1.9% |
| Amounts receivable within one year | 40/41 | €109,153 | €97,419 | -€11,734 | -10.8% |
| Trade receivables | 40 | €20,892 | €13,279 | -€7,612 | -36.4% |
| Other amounts receivable | 41 | €88,261 | €84,139 | -€4,122 | -4.7% |
| Current investments | 50/53 | €880,000 | €880,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,884 | €2,276 | -€7,609 | -77.0% |
| Deferred charges and accrued income | 490/1 | €647 | €649 | +€1 | +0.2% |
| Total equity and liabilities | 10/49 | €2,457,412 | €2,411,867 | -€45,545 | -1.9% |
| Equity | 10/15 | €1,362,328 | €1,350,183 | -€12,145 | -0.9% |
| Contributions | 10/11 | €173,918 | €173,918 | = | 0.0% |
| Capital | 10 | €173,918 | €173,918 | = | 0.0% |
| Issued capital | 100 | €173,918 | €173,918 | = | 0.0% |
| Reserves | 13 | €1,188,409 | €1,176,265 | -€12,145 | -1.0% |
| Non-distributable reserves | 130/1 | €897,392 | €897,392 | = | 0.0% |
| Legal reserve | 130 | €17,392 | €17,392 | = | 0.0% |
| Own shares acquired | 1312 | €880,000 | €880,000 | = | 0.0% |
| Distributable reserves | 133 | €291,018 | €278,873 | -€12,145 | -4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,095,085 | €1,061,684 | -€33,400 | -3.1% |
| Amounts payable after more than one year | 17 | €980,315 | €874,117 | -€106,198 | -10.8% |
| Financial debts | 170/4 | €980,315 | €874,117 | -€106,198 | -10.8% |
| Amounts payable within one year | 42/48 | €114,770 | €187,568 | +€72,798 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €103,674 | €106,198 | +€2,525 | +2.4% |
| Financial debts | 43 | €6,754 | €5,048 | -€1,706 | -25.3% |
| Credit institutions | 430/8 | €6,754 | €5,048 | -€1,706 | -25.3% |
| Trade debts | 44 | €3,519 | €0 | -€3,519 | -100% |
| Suppliers | 440/4 | €3,519 | €0 | -€3,519 | -100% |
| Taxes, remuneration and social security | 45 | €823 | €7,182 | +€6,359 | +772% |
| Taxes | 450/3 | €823 | €7,182 | +€6,359 | +772% |
| Other amounts payable | 47/48 | €0 | €69,139 | +€69,139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,402 | €26,169 | -€5,233 | -16.7% |
| Other operating charges | 640/8 | €8,756 | €8,998 | +€242 | +2.8% |
| Gross operating margin | 9900 | €139,065 | €143,937 | +€4,873 | +3.5% |
| Operating profit (loss) | 9901 | €98,907 | €108,771 | +€9,864 | +10.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €35,394 | €32,778 | -€2,617 | -7.4% |
| Recurring financial charges | 65 | €35,394 | €32,778 | -€2,617 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €63,512 | €75,993 | +€12,481 | +19.7% |
| Income taxes | 67/77 | €15,904 | €18,998 | +€3,094 | +19.5% |
| Profit (loss) for the period | 9904 | €47,608 | €56,995 | +€9,387 | +19.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €47,608 | €56,995 | +€9,387 | +19.7% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.