Vastgoed Declerck: what changed
Vastgoed Declerck
Largest movements
- Tangible fixed assets +€177,534
up €177,534 (+358%), from €49,559 to €227,093
of which Land and buildings: +€178,673
- Cash +€46,034
up €46,034 (+78.6%), from €58,556 to €104,590
mainly Debts after one year (+€168,155) and Net result for the year (+€31,056)
- Receivables within one year +€3,576
up €3,576 (+1,182%), from €303 to €3,878
- Debts after one year +€168,155
up €168,155 (+561%), from €30,000 to €198,155
- Reserves +€30,223
up €30,223 (+110%), from €27,440 to €57,663
- Tax, wage and social debts +€19,586
up €19,586 (+91.3%), from €21,459 to €41,045
of which Taxes: +€16,420
- Current portion of long-term debt +€9,515
new in 2025: €9,515
- Other debts -€4,550
down €4,550 (-14.7%), from €30,900 to €26,350
- Gross operating margin +€43,561
up €43,561 (+95.6%), from €45,559 to €89,120
- Depreciation +€24,940
up €24,940 (+547%), from €4,562 to €29,501
- Staff costs +€9,197
new in 2025: €9,197
- Financial charges +€4,299
up €4,299 (+683%), from €629 to €4,928
- Taxes +€2,500
up €2,500 (+22.7%), from €11,000 to €13,500
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,611 | €338,835 | +€227,224 | +204% |
| Fixed assets | 21/28 | €51,986 | €228,446 | +€176,460 | +339% |
| Intangible fixed assets | 21 | €2,428 | €1,353 | -€1,075 | -44.3% |
| Tangible fixed assets | 22/27 | €49,559 | €227,093 | +€177,534 | +358% |
| Land and buildings | 22 | - | €178,673 | +€178,673 | |
| Plant, machinery and equipment | 23 | €6,633 | €7,731 | +€1,098 | +16.6% |
| Furniture and vehicles | 24 | €531 | €265 | -€265 | -50.0% |
| Other tangible fixed assets | 26 | €42,395 | €40,423 | -€1,971 | -4.7% |
| Current assets | 29/58 | €59,624 | €110,389 | +€50,764 | +85.1% |
| Amounts receivable within one year | 40/41 | €303 | €3,878 | +€3,576 | +1,182% |
| Trade receivables | 40 | €303 | €3,878 | +€3,576 | +1,182% |
| Cash at bank and in hand | 54/58 | €58,556 | €104,590 | +€46,034 | +78.6% |
| Deferred charges and accrued income | 490/1 | €766 | €1,920 | +€1,154 | +151% |
| Total equity and liabilities | 10/49 | €111,611 | €338,835 | +€227,224 | +204% |
| Equity | 10/15 | €27,540 | €57,763 | +€30,223 | +110% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €27,440 | €57,663 | +€30,223 | +110% |
| Distributable reserves | 133 | €27,440 | €57,663 | +€30,223 | +110% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,071 | €281,072 | +€197,001 | +234% |
| Amounts payable after more than one year | 17 | €30,000 | €198,155 | +€168,155 | +561% |
| Financial debts | 170/4 | €30,000 | €198,155 | +€168,155 | +561% |
| Amounts payable within one year | 42/48 | €54,071 | €82,916 | +€28,846 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,515 | +€9,515 | |
| Trade debts | 44 | €1,711 | €6,006 | +€4,295 | +251% |
| Suppliers | 440/4 | €1,711 | €6,006 | +€4,295 | +251% |
| Taxes, remuneration and social security | 45 | €21,459 | €41,045 | +€19,586 | +91.3% |
| Taxes | 450/3 | €21,459 | €37,879 | +€16,420 | +76.5% |
| Remuneration and social security | 454/9 | - | €3,166 | +€3,166 | |
| Other amounts payable | 47/48 | €30,900 | €26,350 | -€4,550 | -14.7% |
| Remuneration, social security and pensions | 62 | - | €9,197 | +€9,197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,562 | €29,501 | +€24,940 | +547% |
| Other operating charges | 640/8 | €1,128 | €937 | -€191 | -16.9% |
| Gross operating margin | 9900 | €45,559 | €89,120 | +€43,561 | +95.6% |
| Operating profit (loss) | 9901 | €39,869 | €49,484 | +€9,615 | +24.1% |
| Financial charges | 65/66B | €629 | €4,928 | +€4,299 | +683% |
| Recurring financial charges | 65 | €629 | €4,928 | +€4,299 | +683% |
| Profit (loss) for the period before taxes | 9903 | €39,240 | €44,556 | +€5,316 | +13.5% |
| Income taxes | 67/77 | €11,000 | €13,500 | +€2,500 | +22.7% |
| Profit (loss) for the period | 9904 | €28,240 | €31,056 | +€2,816 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,240 | €31,056 | +€2,816 | +10.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.