V.D.R. PROPERTIES: 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.
V.D.R. PROPERTIES
Largest movements
- Cash +€67,090
up €67,090 (+96.3%), from €69,680 to €136,770
mainly Depreciation (+€35,856) and Net result for the year (+€32,289)
- Tangible fixed assets -€35,856
down €35,856 (-2.9%), from €1.2m to €1.2m
- Reserves +€32,289
up €32,289 (+25.0%), from €129,382 to €161,670
- Gross operating margin +€40,950
up €40,950 (+110%), from €37,173 to €78,123
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 | €1,305,806 | €1,335,520 | +€29,714 | +2.3% |
| Fixed assets | 21/28 | €1,234,141 | €1,198,285 | -€35,856 | -2.9% |
| Tangible fixed assets | 22/27 | €1,234,141 | €1,198,285 | -€35,856 | -2.9% |
| Land and buildings | 22 | €1,234,141 | €1,198,285 | -€35,856 | -2.9% |
| Current assets | 29/58 | €71,664 | €137,235 | +€65,570 | +91.5% |
| Amounts receivable within one year | 40/41 | €26 | €72 | +€45 | +173% |
| Trade receivables | 40 | - | €61 | +€61 | |
| Other amounts receivable | 41 | €26 | €11 | -€16 | -59.7% |
| Cash at bank and in hand | 54/58 | €69,680 | €136,770 | +€67,090 | +96.3% |
| Deferred charges and accrued income | 490/1 | €1,958 | €393 | -€1,565 | -79.9% |
| Total equity and liabilities | 10/49 | €1,305,806 | €1,335,520 | +€29,714 | +2.3% |
| Equity | 10/15 | €148,132 | €180,420 | +€32,289 | +21.8% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €129,382 | €161,670 | +€32,289 | +25.0% |
| Distributable reserves | 133 | €129,382 | €161,670 | +€32,289 | +25.0% |
| Amounts payable | 17/49 | €1,157,674 | €1,155,100 | -€2,574 | -0.2% |
| Amounts payable within one year | 42/48 | €1,157,629 | €1,151,383 | -€6,247 | -0.5% |
| Trade debts | 44 | €1,744 | - | -€1,744 | |
| Suppliers | 440/4 | €1,744 | - | -€1,744 | |
| Taxes, remuneration and social security | 45 | €691 | €215 | -€477 | -68.9% |
| Taxes | 450/3 | €691 | €215 | -€477 | -68.9% |
| Other amounts payable | 47/48 | €1,155,194 | €1,151,168 | -€4,026 | -0.3% |
| Accrued charges and deferred income | 492/3 | €45 | €3,717 | +€3,672 | +8,182% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,856 | €35,856 | = | 0.0% |
| Other operating charges | 640/8 | €9,544 | €9,667 | +€123 | +1.3% |
| Gross operating margin | 9900 | €37,173 | €78,123 | +€40,950 | +110% |
| Operating profit (loss) | 9901 | -€8,227 | €32,600 | +€40,827 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €103 | €97 | -€7 | -6.5% |
| Recurring financial charges | 65 | €103 | €97 | -€7 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,331 | €32,503 | +€40,834 | |
| Income taxes | 67/77 | €336 | €215 | -€121 | -36.1% |
| Profit (loss) for the period | 9904 | -€8,667 | €32,289 | +€40,955 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,667 | €32,289 | +€40,955 |
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 27 October 2026 via checked.be.