Vastgoed 21: 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.
Vastgoed 21
Largest movements
- Receivables within one year -€95,885
down €95,885 (-99.1%), from €96,795 to €910
of which Other amounts receivable: -€89,915
- Profit (loss) carried forward -€88,315
down €88,315 (-1,653%), from -€5,342 to -€93,657
- Other debts -€9,039
down €9,039 (-7.9%), from €114,007 to €104,968
- Write-downs +€77,317
up €77,317 (+619%), from €12,500 to €89,817
- Gross operating margin -€4,910
down €4,910 (-40.7%), from €12,058 to €7,148
- Other operating charges +€803
up €803 (+64.2%), from €1,250 to €2,053
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €316,795 | €220,910 | -€95,885 | -30.3% |
| Fixed assets | 21/28 | €15,000 | €15,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €15,000 | €15,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €301,795 | €205,910 | -€95,885 | -31.8% |
| Stocks and contracts in progress | 3 | €205,000 | €205,000 | = | 0.0% |
| Stocks | 30/36 | €205,000 | €205,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €96,795 | €910 | -€95,885 | -99.1% |
| Trade receivables | 40 | €6,881 | €910 | -€5,970 | -86.8% |
| Other amounts receivable | 41 | €89,915 | €0 | -€89,915 | -100% |
| Total equity and liabilities | 10/49 | €316,795 | €220,910 | -€95,885 | -30.3% |
| Equity | 10/15 | €181,070 | €92,755 | -€88,315 | -48.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €36,412 | €36,412 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €21,412 | €21,412 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,342 | -€93,657 | -€88,315 | -1,653% |
| Amounts payable | 17/49 | €135,725 | €128,155 | -€7,570 | -5.6% |
| Amounts payable within one year | 42/48 | €135,725 | €128,155 | -€7,570 | -5.6% |
| Financial debts | 43 | €19,769 | €19,955 | +€185 | +0.9% |
| Credit institutions | 430/8 | €19,769 | €19,955 | +€185 | +0.9% |
| Trade debts | 44 | €1,544 | €2,720 | +€1,176 | +76.2% |
| Suppliers | 440/4 | €1,544 | €2,720 | +€1,176 | +76.2% |
| Taxes, remuneration and social security | 45 | €404 | €512 | +€108 | +26.7% |
| Taxes | 450/3 | €404 | €512 | +€108 | +26.7% |
| Other amounts payable | 47/48 | €114,007 | €104,968 | -€9,039 | -7.9% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,500 | €89,817 | +€77,317 | +619% |
| Other operating charges | 640/8 | €1,250 | €2,053 | +€803 | +64.2% |
| Gross operating margin | 9900 | €12,058 | €7,148 | -€4,910 | -40.7% |
| Operating profit (loss) | 9901 | -€1,692 | -€84,722 | -€83,030 | -4,907% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,276 | €3,178 | -€98 | -3.0% |
| Recurring financial charges | 65 | €2,712 | €3,178 | +€466 | +17.2% |
| Non-recurring financial charges | 66B | €564 | €0 | -€564 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€4,968 | -€87,900 | -€82,932 | -1,669% |
| Income taxes | 67/77 | €404 | €415 | +€11 | +2.7% |
| Profit (loss) for the period | 9904 | -€5,372 | -€88,315 | -€82,943 | -1,544% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,372 | -€88,315 | -€82,943 | -1,544% |
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.