VASTGOED CENTRALE: 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 CENTRALE
Largest movements
- Receivables within one year +€49,008
up €49,008 (+31.4%), from €156,131 to €205,139
of which Trade receivables: +€32,729
- Tangible fixed assets +€36,700
up €36,700 (+76.5%), from €47,945 to €84,645
of which Assets under construction and advance payments: +€45,756
- Cash -€4,313
down €4,313 (-3.4%), from €127,751 to €123,438
mainly Receivables within one year (-€49,008) and Investment in fixed assets (net) (-€45,756)
- Reserves +€40,905
up €40,905 (+41.3%), from €99,087 to €139,992
- Trade debts +€22,778
up €22,778 (+2,964%), from €768 to €23,546
- Tax, wage and social debts +€14,967
up €14,967 (+67.2%), from €22,271 to €37,238
of which Taxes: +€12,380
- Gross operating margin +€29,390
up €29,390 (+34.1%), from €86,272 to €115,662
- Write-downs +€9,836
new in 2025: €9,836
- Taxes +€8,422
up €8,422 (+6,816%), from €124 to €8,546
- Staff costs -€5,356
down €5,356 (-10.1%), from €52,813 to €47,458
- Depreciation -€2,785
down €2,785 (-23.5%), from €11,841 to €9,056
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 | €333,775 | €415,558 | +€81,783 | +24.5% |
| Fixed assets | 21/28 | €47,945 | €84,645 | +€36,700 | +76.5% |
| Tangible fixed assets | 22/27 | €47,945 | €84,645 | +€36,700 | +76.5% |
| Land and buildings | 22 | €24,916 | €22,523 | -€2,393 | -9.6% |
| Furniture and vehicles | 24 | €11,346 | €4,683 | -€6,663 | -58.7% |
| Assets under construction and advance payments | 27 | €11,683 | €57,439 | +€45,756 | +392% |
| Current assets | 29/58 | €285,830 | €330,913 | +€45,083 | +15.8% |
| Amounts receivable within one year | 40/41 | €156,131 | €205,139 | +€49,008 | +31.4% |
| Trade receivables | 40 | €134,961 | €167,690 | +€32,729 | +24.3% |
| Other amounts receivable | 41 | €21,170 | €37,450 | +€16,280 | +76.9% |
| Cash at bank and in hand | 54/58 | €127,751 | €123,438 | -€4,313 | -3.4% |
| Deferred charges and accrued income | 490/1 | €1,949 | €2,336 | +€388 | +19.9% |
| Total equity and liabilities | 10/49 | €333,775 | €415,558 | +€81,783 | +24.5% |
| Equity | 10/15 | €297,687 | €338,592 | +€40,905 | +13.7% |
| Contributions | 10/11 | €198,600 | €198,600 | = | 0.0% |
| Reserves | 13 | €99,087 | €139,992 | +€40,905 | +41.3% |
| Distributable reserves | 133 | €99,087 | €139,992 | +€40,905 | +41.3% |
| Amounts payable | 17/49 | €36,088 | €76,967 | +€40,878 | +113% |
| Amounts payable within one year | 42/48 | €36,088 | €76,967 | +€40,878 | +113% |
| Trade debts | 44 | €768 | €23,546 | +€22,778 | +2,964% |
| Suppliers | 440/4 | €768 | €23,546 | +€22,778 | +2,964% |
| Taxes, remuneration and social security | 45 | €22,271 | €37,238 | +€14,967 | +67.2% |
| Taxes | 450/3 | €15,214 | €27,594 | +€12,380 | +81.4% |
| Remuneration and social security | 454/9 | €7,057 | €9,643 | +€2,587 | +36.7% |
| Other amounts payable | 47/48 | €13,049 | €16,182 | +€3,134 | +24.0% |
| Remuneration, social security and pensions | 62 | €52,813 | €47,458 | -€5,356 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,841 | €9,056 | -€2,785 | -23.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,836 | +€9,836 | |
| Other operating charges | 640/8 | €1,675 | €2,234 | +€559 | +33.4% |
| Non-recurring operating charges | 66A | €2,957 | - | -€2,957 | |
| Gross operating margin | 9900 | €86,272 | €115,662 | +€29,390 | +34.1% |
| Operating profit (loss) | 9901 | €16,987 | €47,078 | +€30,092 | +177% |
| Financial income | 75/76B | €127 | €2,767 | +€2,640 | +2,083% |
| Recurring financial income | 75 | €127 | €2,767 | +€2,640 | +2,083% |
| Financial charges | 65/66B | €491 | €394 | -€97 | -19.8% |
| Recurring financial charges | 65 | €491 | €394 | -€97 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €16,622 | €49,451 | +€32,829 | +198% |
| Income taxes | 67/77 | €124 | €8,546 | +€8,422 | +6,816% |
| Profit (loss) for the period | 9904 | €16,498 | €40,905 | +€24,406 | +148% |
| Profit (loss) for the period to be appropriated | 9905 | €16,498 | €40,905 | +€24,406 | +148% |
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.