Vastgoed EM: 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 EM
Largest movements
- Stocks and contracts -€458,514
down €458,514 (-29.2%), from €1.6m to €1.1m
of which Stocks: -€312,508
- Receivables within one year -€108,457
down €108,457 (-3.9%), from €2.8m to €2.7m
- Short-term financial debts -€963,771
down €963,771 (-25.9%), from €3.7m to €2.8m
- Profit (loss) carried forward +€233,845
up €233,845, from -€83,335 to €150,511
- Other debts +€131,000
up €131,000 (+7,011%), from €1,868 to €132,868
- Gross operating margin +€521,511
up €521,511, from -€5,244 to €516,267
- Financial income -€67,188
down €67,188 (-53.0%), from €126,723 to €59,535
- Taxes +€61,008
new in 2025: €61,008
- Financial charges +€9,155
up €9,155 (+7.1%), from €128,460 to €137,615
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 | €4,368,218 | €3,803,141 | -€565,076 | -12.9% |
| Current assets | 29/58 | €4,368,218 | €3,803,141 | -€565,076 | -12.9% |
| Stocks and contracts in progress | 3 | €1,570,771 | €1,112,257 | -€458,514 | -29.2% |
| Stocks | 30/36 | €1,424,765 | €1,112,257 | -€312,508 | -21.9% |
| Contracts in progress | 37 | €146,006 | €0 | -€146,006 | -100% |
| Amounts receivable within one year | 40/41 | €2,792,697 | €2,684,240 | -€108,457 | -3.9% |
| Other amounts receivable | 41 | €2,792,697 | €2,684,240 | -€108,457 | -3.9% |
| Cash at bank and in hand | 54/58 | €4,750 | €6,644 | +€1,895 | +39.9% |
| Total equity and liabilities | 10/49 | €4,368,218 | €3,803,141 | -€565,076 | -12.9% |
| Equity | 10/15 | €644,612 | €889,535 | +€244,923 | +38.0% |
| Contributions | 10/11 | €671,840 | €671,840 | = | 0.0% |
| Capital | 10 | €671,840 | €671,840 | = | 0.0% |
| Issued capital | 100 | €671,840 | €671,840 | = | 0.0% |
| Reserves | 13 | €56,106 | €67,184 | +€11,078 | +19.7% |
| Non-distributable reserves | 130/1 | €56,106 | €67,184 | +€11,078 | +19.7% |
| Legal reserve | 130 | €56,106 | €67,184 | +€11,078 | +19.7% |
| Profit (loss) carried forward | 14 | -€83,335 | €150,511 | +€233,845 | |
| Amounts payable | 17/49 | €3,723,606 | €2,913,607 | -€810,000 | -21.8% |
| Amounts payable within one year | 42/48 | €3,723,606 | €2,913,056 | -€810,550 | -21.8% |
| Financial debts | 43 | €3,721,500 | €2,757,729 | -€963,771 | -25.9% |
| Credit institutions | 430/8 | €3,721,500 | €2,757,729 | -€963,771 | -25.9% |
| Trade debts | 44 | €238 | €11,451 | +€11,213 | +4,716% |
| Suppliers | 440/4 | €238 | €11,451 | +€11,213 | +4,716% |
| Taxes, remuneration and social security | 45 | - | €11,008 | +€11,008 | |
| Taxes | 450/3 | - | €11,008 | +€11,008 | |
| Other amounts payable | 47/48 | €1,868 | €132,868 | +€131,000 | +7,011% |
| Accrued charges and deferred income | 492/3 | €0 | €550 | +€550 | |
| Other operating charges | 640/8 | €1,530 | €1,256 | -€274 | -17.9% |
| Gross operating margin | 9900 | -€5,244 | €516,267 | +€521,511 | |
| Operating profit (loss) | 9901 | -€6,774 | €515,010 | +€521,784 | |
| Financial income | 75/76B | €126,723 | €59,535 | -€67,188 | -53.0% |
| Recurring financial income | 75 | €126,723 | €59,535 | -€67,188 | -53.0% |
| Financial charges | 65/66B | €128,460 | €137,615 | +€9,155 | +7.1% |
| Recurring financial charges | 65 | €128,460 | €137,615 | +€9,155 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,511 | €436,931 | +€445,442 | |
| Income taxes | 67/77 | - | €61,008 | +€61,008 | |
| Profit (loss) for the period | 9904 | -€8,511 | €375,923 | +€384,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,511 | €375,923 | +€384,434 |
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 22 October 2026 via checked.be.