TG 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.
TG VASTGOED
Largest movements
- Stocks and contracts +€419,270
up €419,270 (+186%), from €225,000 to €644,270
- Receivables within one year +€114,795
up €114,795 (+34.0%), from €337,258 to €452,053
of which Trade receivables: +€191,023
- Cash +€92,930
up €92,930 (+389%), from €23,869 to €116,799
mainly Current portion of long-term debt (+€399,334) and Trade debts (+€157,548)
- Current portion of long-term debt +€399,334
up €399,334 (+245%), from €162,823 to €562,157
- Trade debts +€157,548
up €157,548 (+59.9%), from €263,203 to €420,751
- Accrued charges and deferred income +€153,194
up €153,194 (+272%), from €56,305 to €209,500
- Advances received -€104,819
down €104,819 (-100%), from €104,819 to €0
- Profit (loss) carried forward +€39,857
up €39,857 (+59.8%), from -€66,605 to -€26,748
- Gross operating margin +€160,037
up €160,037, from -€88,836 to €71,201
- Other operating charges +€12,808
up €12,808 (+284%), from €4,517 to €17,325
- Financial income +€5,056
up €5,056 (+219%), from €2,308 to €7,363
- Staff costs -€2,038
down €2,038 (-67.1%), from €3,038 to €1,000
- Taxes -€1,080
down €1,080 (-77.1%), from €1,401 to €321
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 | €610,138 | €1,233,346 | +€623,208 | +102% |
| Fixed assets | 21/28 | €24,011 | €20,224 | -€3,787 | -15.8% |
| Tangible fixed assets | 22/27 | €24,011 | €20,224 | -€3,787 | -15.8% |
| Plant, machinery and equipment | 23 | €2,257 | €1,652 | -€606 | -26.8% |
| Furniture and vehicles | 24 | €3,971 | €2,838 | -€1,133 | -28.5% |
| Other tangible fixed assets | 26 | €17,782 | €15,734 | -€2,049 | -11.5% |
| Current assets | 29/58 | €586,127 | €1,213,122 | +€626,995 | +107% |
| Stocks and contracts in progress | 3 | €225,000 | €644,270 | +€419,270 | +186% |
| Stocks | 30/36 | €225,000 | €644,270 | +€419,270 | +186% |
| Amounts receivable within one year | 40/41 | €337,258 | €452,053 | +€114,795 | +34.0% |
| Trade receivables | 40 | €112,945 | €303,968 | +€191,023 | +169% |
| Other amounts receivable | 41 | €224,313 | €148,084 | -€76,228 | -34.0% |
| Cash at bank and in hand | 54/58 | €23,869 | €116,799 | +€92,930 | +389% |
| Total equity and liabilities | 10/49 | €610,138 | €1,233,346 | +€623,208 | +102% |
| Equity | 10/15 | -€16,418 | €23,439 | +€39,857 | |
| Contributions | 10/11 | €48,552 | €48,552 | = | 0.0% |
| Reserves | 13 | €1,635 | €1,635 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,635 | €1,635 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,635 | €1,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,605 | -€26,748 | +€39,857 | +59.8% |
| Amounts payable | 17/49 | €626,555 | €1,209,907 | +€583,351 | +93.1% |
| Amounts payable after more than one year | 17 | €12,234 | €8,227 | -€4,007 | -32.8% |
| Financial debts | 170/4 | €12,234 | €8,227 | -€4,007 | -32.8% |
| Amounts payable within one year | 42/48 | €558,016 | €992,180 | +€434,164 | +77.8% |
| Current portion of amounts payable after more than one year | 42 | €162,823 | €562,157 | +€399,334 | +245% |
| Trade debts | 44 | €263,203 | €420,751 | +€157,548 | +59.9% |
| Suppliers | 440/4 | €263,203 | €420,751 | +€157,548 | +59.9% |
| Advances received on contracts in progress | 46 | €104,819 | €0 | -€104,819 | -100% |
| Taxes, remuneration and social security | 45 | €1,432 | €2,865 | +€1,432 | +100% |
| Taxes | 450/3 | €1,432 | €2,865 | +€1,432 | +100% |
| Other amounts payable | 47/48 | €25,739 | €6,407 | -€19,332 | -75.1% |
| Accrued charges and deferred income | 492/3 | €56,305 | €209,500 | +€153,194 | +272% |
| Remuneration, social security and pensions | 62 | €3,038 | €1,000 | -€2,038 | -67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,787 | €3,787 | = | 0.0% |
| Other operating charges | 640/8 | €4,517 | €17,325 | +€12,808 | +284% |
| Gross operating margin | 9900 | -€88,836 | €71,201 | +€160,037 | |
| Operating profit (loss) | 9901 | -€100,179 | €49,089 | +€149,267 | |
| Financial income | 75/76B | €2,308 | €7,363 | +€5,056 | +219% |
| Recurring financial income | 75 | €2,308 | €7,363 | +€5,056 | +219% |
| Financial charges | 65/66B | €15,982 | €16,275 | +€293 | +1.8% |
| Recurring financial charges | 65 | €15,982 | €16,275 | +€293 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€113,853 | €40,177 | +€154,030 | |
| Income taxes | 67/77 | €1,401 | €321 | -€1,080 | -77.1% |
| Profit (loss) for the period | 9904 | -€115,254 | €39,857 | +€155,111 | |
| Profit (loss) for the period to be appropriated | 9905 | -€115,254 | €39,857 | +€155,111 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.