Vastgoed C: 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 C
Largest movements
- Cash -€222,978
down €222,978 (-26.5%), from €842,523 to €619,545
mainly Advances received (-€213,474) and Short-term financial debts (-€39,026)
- Receivables within one year +€37,605
up €37,605 (+40.7%), from €92,411 to €130,016
of which Trade receivables: +€43,292
- Intangible fixed assets -€24,122
down €24,122 (-85.5%), from €28,226 to €4,104
- Tangible fixed assets -€21,097
down €21,097 (-23.9%), from €88,245 to €67,147
of which Other tangible fixed assets: -€12,951
- Reserves +€253,580
up €253,580 (+141%), from €179,530 to €433,110
of which Distributable reserves: +€253,580
- Advances received -€213,474
down €213,474 (-30.4%), from €701,186 to €487,712
- Profit (loss) carried forward -€213,119
down €213,119 (-100%), from €213,119 to €0
- Short-term financial debts -€39,026
down €39,026 (-61.4%), from €63,562 to €24,536
- Trade debts -€26,898
down €26,898 (-36.1%), from €74,585 to €47,687
- Gross operating margin -€188,575
down €188,575 (-27.0%), from €698,652 to €510,077
- Taxes -€48,434
down €48,434 (-70.2%), from €68,984 to €20,550
- Staff costs -€14,092
down €14,092 (-3.5%), from €401,207 to €387,115
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 | €1,463,318 | €1,241,759 | -€221,559 | -15.1% |
| Fixed assets | 21/28 | €116,470 | €71,501 | -€44,969 | -38.6% |
| Intangible fixed assets | 21 | €28,226 | €4,104 | -€24,122 | -85.5% |
| Tangible fixed assets | 22/27 | €88,245 | €67,147 | -€21,097 | -23.9% |
| Furniture and vehicles | 24 | €25,625 | €17,479 | -€8,146 | -31.8% |
| Other tangible fixed assets | 26 | €62,619 | €49,668 | -€12,951 | -20.7% |
| Financial fixed assets | 28 | €0 | €250 | +€250 | |
| Current assets | 29/58 | €1,346,848 | €1,170,258 | -€176,590 | -13.1% |
| Amounts receivable within one year | 40/41 | €92,411 | €130,016 | +€37,605 | +40.7% |
| Trade receivables | 40 | €62,292 | €105,584 | +€43,292 | +69.5% |
| Other amounts receivable | 41 | €30,119 | €24,432 | -€5,687 | -18.9% |
| Cash at bank and in hand | 54/58 | €842,523 | €619,545 | -€222,978 | -26.5% |
| Deferred charges and accrued income | 490/1 | €411,914 | €420,697 | +€8,784 | +2.1% |
| Total equity and liabilities | 10/49 | €1,463,318 | €1,241,759 | -€221,559 | -15.1% |
| Equity | 10/15 | €423,649 | €464,110 | +€40,461 | +9.6% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €179,530 | €433,110 | +€253,580 | +141% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €177,670 | €431,250 | +€253,580 | +143% |
| Profit (loss) carried forward | 14 | €213,119 | €0 | -€213,119 | -100% |
| Amounts payable | 17/49 | €1,039,670 | €777,650 | -€262,020 | -25.2% |
| Amounts payable after more than one year | 17 | €38,524 | €31,513 | -€7,011 | -18.2% |
| Financial debts | 170/4 | €38,524 | €31,513 | -€7,011 | -18.2% |
| Amounts payable within one year | 42/48 | €915,880 | €655,271 | -€260,608 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €6,915 | €7,011 | +€95 | +1.4% |
| Financial debts | 43 | €63,562 | €24,536 | -€39,026 | -61.4% |
| Credit institutions | 430/8 | €63,562 | €24,536 | -€39,026 | -61.4% |
| Trade debts | 44 | €74,585 | €47,687 | -€26,898 | -36.1% |
| Suppliers | 440/4 | €74,585 | €47,687 | -€26,898 | -36.1% |
| Advances received on contracts in progress | 46 | €701,186 | €487,712 | -€213,474 | -30.4% |
| Taxes, remuneration and social security | 45 | €53,649 | €69,587 | +€15,938 | +29.7% |
| Taxes | 450/3 | €24,381 | €41,798 | +€17,416 | +71.4% |
| Remuneration and social security | 454/9 | €29,268 | €27,789 | -€1,478 | -5.1% |
| Other amounts payable | 47/48 | €15,983 | €18,739 | +€2,756 | +17.2% |
| Accrued charges and deferred income | 492/3 | €85,267 | €90,865 | +€5,599 | +6.6% |
| Non-recurring operating income | 76A | €0 | €20 | +€20 | |
| Remuneration, social security and pensions | 62 | €401,207 | €387,115 | -€14,092 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,235 | €53,242 | +€2,007 | +3.9% |
| Other operating charges | 640/8 | €2,608 | €4,120 | +€1,511 | +57.9% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Gross operating margin | 9900 | €698,652 | €510,077 | -€188,575 | -27.0% |
| Operating profit (loss) | 9901 | €243,601 | €65,499 | -€178,102 | -73.1% |
| Financial income | 75/76B | €610 | €2 | -€608 | -99.7% |
| Recurring financial income | 75 | €610 | €2 | -€608 | -99.7% |
| Financial charges | 65/66B | €9,089 | €4,490 | -€4,599 | -50.6% |
| Recurring financial charges | 65 | €9,089 | €4,490 | -€4,599 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €235,122 | €61,011 | -€174,111 | -74.1% |
| Income taxes | 67/77 | €68,984 | €20,550 | -€48,434 | -70.2% |
| Profit (loss) for the period | 9904 | €166,138 | €40,461 | -€125,677 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €166,138 | €40,461 | -€125,677 | -75.6% |
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 19 October 2026 via checked.be.