VASTGOED BAERT: 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 BAERT
Largest movements
- Financial fixed assets +€600,000
up €600,000 (+48,988%), from €1,225 to €601,225
- Other debts +€386,589
up €386,589 (+2,545%), from €15,187 to €401,777
- Debts after one year +€250,109
up €250,109 (+45.1%), from €554,877 to €804,986
- Profit (loss) carried forward -€82,312
new in 2025: -€82,312
- Tax, wage and social debts -€48,960
down €48,960 (-31.1%), from €157,262 to €108,302
- Current portion of long-term debt +€41,929
up €41,929 (+53.7%), from €78,049 to €119,978
- Gross operating margin -€110,101
down €110,101 (-78.7%), from €139,891 to €29,790
- Taxes +€11,346
up €11,346 (+44.6%), from €25,414 to €36,760
- Other operating charges +€10,453
up €10,453 (+378%), from €2,768 to €13,221
- Financial charges -€7,039
down €7,039 (-22.9%), from €30,777 to €23,738
- Depreciation +€5,696
up €5,696 (+19.7%), from €28,894 to €34,589
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 | €1,114,021 | €1,689,712 | +€575,691 | +51.7% |
| Fixed assets | 21/28 | €1,053,563 | €1,641,109 | +€587,546 | +55.8% |
| Tangible fixed assets | 22/27 | €1,052,338 | €1,039,884 | -€12,454 | -1.2% |
| Land and buildings | 22 | €1,041,775 | €1,035,159 | -€6,616 | -0.6% |
| Furniture and vehicles | 24 | €10,563 | €4,726 | -€5,838 | -55.3% |
| Financial fixed assets | 28 | €1,225 | €601,225 | +€600,000 | +48,988% |
| Current assets | 29/58 | €60,458 | €48,603 | -€11,855 | -19.6% |
| Amounts receivable within one year | 40/41 | €29,315 | €25,675 | -€3,640 | -12.4% |
| Trade receivables | 40 | €28,345 | €24,705 | -€3,640 | -12.8% |
| Other amounts receivable | 41 | €970 | €970 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,132 | €19,675 | -€8,457 | -30.1% |
| Deferred charges and accrued income | 490/1 | €3,011 | €3,253 | +€242 | +8.0% |
| Total equity and liabilities | 10/49 | €1,114,021 | €1,689,712 | +€575,691 | +51.7% |
| Equity | 10/15 | €294,088 | €211,776 | -€82,312 | -28.0% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €230,088 | €230,088 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Distributable reserves | 133 | €223,688 | €223,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€82,312 | -€82,312 | |
| Amounts payable | 17/49 | €819,933 | €1,477,936 | +€658,004 | +80.3% |
| Amounts payable after more than one year | 17 | €554,877 | €804,986 | +€250,109 | +45.1% |
| Other amounts payable | 178/9 | €554,877 | €804,986 | +€250,109 | +45.1% |
| Amounts payable within one year | 42/48 | €265,055 | €672,950 | +€407,895 | +154% |
| Current portion of amounts payable after more than one year | 42 | €78,049 | €119,978 | +€41,929 | +53.7% |
| Trade debts | 44 | €14,556 | €42,894 | +€28,337 | +195% |
| Suppliers | 440/4 | €14,556 | €42,894 | +€28,337 | +195% |
| Taxes, remuneration and social security | 45 | €157,262 | €108,302 | -€48,960 | -31.1% |
| Taxes | 450/3 | €157,262 | €108,302 | -€48,960 | -31.1% |
| Other amounts payable | 47/48 | €15,187 | €401,777 | +€386,589 | +2,545% |
| Remuneration, social security and pensions | 62 | €2,738 | €3,795 | +€1,057 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,894 | €34,589 | +€5,696 | +19.7% |
| Other operating charges | 640/8 | €2,768 | €13,221 | +€10,453 | +378% |
| Gross operating margin | 9900 | €139,891 | €29,790 | -€110,101 | -78.7% |
| Operating profit (loss) | 9901 | €105,492 | -€21,815 | -€127,306 | |
| Financial charges | 65/66B | €30,777 | €23,738 | -€7,039 | -22.9% |
| Recurring financial charges | 65 | €30,777 | €23,738 | -€7,039 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €74,715 | -€45,553 | -€120,267 | |
| Income taxes | 67/77 | €25,414 | €36,760 | +€11,346 | +44.6% |
| Profit (loss) for the period | 9904 | €49,301 | -€82,312 | -€131,613 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,301 | -€82,312 | -€131,613 |
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 23 October 2026 via checked.be.