VASTGOED FRANSEN: 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 FRANSEN
Largest movements
- Tangible fixed assets +€196,733
up €196,733 (+703%), from €27,969 to €224,702
of which Other tangible fixed assets: +€191,308
- Receivables within one year -€16,724
down €16,724 (-21.6%), from €77,484 to €60,760
of which Other amounts receivable: -€30,680
- Cash +€13,426
up €13,426 (+10.6%), from €126,067 to €139,493
mainly Debts after one year (+€183,481) and Current portion of long-term debt (+€58,634)
- Debts after one year +€183,481
new in 2025: €183,481
- Short-term financial debts -€58,935
down €58,935 (-100%), from €58,935 to €0
- Current portion of long-term debt +€58,634
new in 2025: €58,634
- Tax, wage and social debts -€23,935
down €23,935 (-27.1%), from €88,471 to €64,536
of which Taxes: -€25,867
- Reserves +€12,845
up €12,845 (+12.8%), from €100,184 to €113,028
- Financial charges -€98,665
down €98,665 (-91.9%), from €107,370 to €8,706
of which Non-recurring financial charges: -€104,556
- Financial income -€89,786
down €89,786 (-64.1%), from €140,000 to €50,214
- Staff costs +€89,084
up €89,084 (+34.3%), from €259,393 to €348,476
- Provisions -€58,500
down €58,500 (-100%), from €58,500 to €0
- Depreciation +€17,787
up €17,787 (+254%), from €6,996 to €24,783
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 | €390,831 | €580,134 | +€189,302 | +48.4% |
| Fixed assets | 21/28 | €127,931 | €318,948 | +€191,017 | +149% |
| Intangible fixed assets | 21 | €29,962 | €24,246 | -€5,716 | -19.1% |
| Tangible fixed assets | 22/27 | €27,969 | €224,702 | +€196,733 | +703% |
| Plant, machinery and equipment | 23 | €1,649 | €1,449 | -€200 | -12.1% |
| Furniture and vehicles | 24 | €4,922 | €10,546 | +€5,624 | +114% |
| Other tangible fixed assets | 26 | €21,399 | €212,707 | +€191,308 | +894% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €262,900 | €261,186 | -€1,714 | -0.7% |
| Amounts receivable within one year | 40/41 | €77,484 | €60,760 | -€16,724 | -21.6% |
| Trade receivables | 40 | €3,701 | €17,657 | +€13,957 | +377% |
| Other amounts receivable | 41 | €73,783 | €43,102 | -€30,680 | -41.6% |
| Current investments | 50/53 | €58,500 | €58,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €126,067 | €139,493 | +€13,426 | +10.6% |
| Deferred charges and accrued income | 490/1 | €849 | €2,433 | +€1,584 | +187% |
| Total equity and liabilities | 10/49 | €390,831 | €580,134 | +€189,302 | +48.4% |
| Equity | 10/15 | €101,184 | €114,028 | +€12,845 | +12.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100,184 | €113,028 | +€12,845 | +12.8% |
| Distributable reserves | 133 | €100,184 | €113,028 | +€12,845 | +12.8% |
| Provisions and deferred taxes | 16 | €58,500 | €58,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €58,500 | €58,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €58,500 | €58,500 | = | 0.0% |
| Amounts payable | 17/49 | €231,147 | €407,605 | +€176,458 | +76.3% |
| Amounts payable after more than one year | 17 | - | €183,481 | +€183,481 | |
| Financial debts | 170/4 | - | €183,481 | +€183,481 | |
| Amounts payable within one year | 42/48 | €231,147 | €224,124 | -€7,023 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | - | €58,634 | +€58,634 | |
| Financial debts | 43 | €58,935 | €0 | -€58,935 | -100% |
| Other loans | 439 | €58,935 | €0 | -€58,935 | -100% |
| Trade debts | 44 | €36,214 | €33,206 | -€3,008 | -8.3% |
| Suppliers | 440/4 | €36,214 | €33,206 | -€3,008 | -8.3% |
| Advances received on contracts in progress | 46 | - | €8,000 | +€8,000 | |
| Taxes, remuneration and social security | 45 | €88,471 | €64,536 | -€23,935 | -27.1% |
| Taxes | 450/3 | €43,369 | €17,502 | -€25,867 | -59.6% |
| Remuneration and social security | 454/9 | €45,102 | €47,034 | +€1,932 | +4.3% |
| Other amounts payable | 47/48 | €47,527 | €59,749 | +€12,222 | +25.7% |
| Remuneration, social security and pensions | 62 | €259,393 | €348,476 | +€89,084 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,996 | €24,783 | +€17,787 | +254% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €58,500 | €0 | -€58,500 | -100% |
| Other operating charges | 640/8 | €1,315 | €604 | -€711 | -54.1% |
| Non-recurring operating charges | 66A | - | €6,165 | +€6,165 | |
| Gross operating margin | 9900 | €350,030 | €351,754 | +€1,724 | +0.5% |
| Operating profit (loss) | 9901 | €23,826 | -€28,274 | -€52,100 | |
| Financial income | 75/76B | €140,000 | €50,214 | -€89,786 | -64.1% |
| Recurring financial income | 75 | €140,000 | €50,214 | -€89,786 | -64.1% |
| Financial charges | 65/66B | €107,370 | €8,706 | -€98,665 | -91.9% |
| Recurring financial charges | 65 | €2,814 | €8,706 | +€5,892 | +209% |
| Non-recurring financial charges | 66B | €104,556 | €0 | -€104,556 | -100% |
| Profit (loss) for the period before taxes | 9903 | €56,456 | €13,234 | -€43,222 | -76.6% |
| Income taxes | 67/77 | €4,601 | €390 | -€4,211 | -91.5% |
| Profit (loss) for the period | 9904 | €51,855 | €12,845 | -€39,010 | -75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,855 | €12,845 | -€39,010 | -75.2% |
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 26 October 2026 via checked.be.