VASTGOED HDC: 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 HDC
Largest movements
- Tangible fixed assets -€48,210
down €48,210 (-9.2%), from €522,909 to €474,700
of which Land and buildings: -€45,725
- Receivables within one year +€33,125
up €33,125 (+3.8%), from €879,257 to €912,382
of which Other amounts receivable: +€33,125
- Other debts +€32,053
up €32,053 (+40.5%), from €79,149 to €111,202
- Debts after one year -€27,795
down €27,795 (-4.0%), from €687,799 to €660,005
- Gross operating margin +€16,793
up €16,793 (+56.2%), from €29,857 to €46,650
- Depreciation -€3,153
down €3,153 (-5.9%), from €53,375 to €50,222
- Financial charges -€2,229
down €2,229 (-5.5%), from €40,790 to €38,561
- Financial income -€1,281
down €1,281 (-3.4%), from €37,770 to €36,489
- Other operating charges +€1,216
up €1,216 (+26.1%), from €4,652 to €5,868
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 | €1,576,079 | €1,563,851 | -€12,227 | -0.8% |
| Fixed assets | 21/28 | €657,909 | €609,700 | -€48,210 | -7.3% |
| Tangible fixed assets | 22/27 | €522,909 | €474,700 | -€48,210 | -9.2% |
| Land and buildings | 22 | €505,473 | €459,748 | -€45,725 | -9.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €17,436 | €14,952 | -€2,485 | -14.2% |
| Financial fixed assets | 28 | €135,000 | €135,000 | = | 0.0% |
| Current assets | 29/58 | €918,169 | €954,152 | +€35,982 | +3.9% |
| Amounts receivable within one year | 40/41 | €879,257 | €912,382 | +€33,125 | +3.8% |
| Trade receivables | 40 | €4,111 | €4,111 | = | 0.0% |
| Other amounts receivable | 41 | €875,146 | €908,271 | +€33,125 | +3.8% |
| Cash at bank and in hand | 54/58 | €1,084 | €3,202 | +€2,118 | +195% |
| Deferred charges and accrued income | 490/1 | €37,828 | €38,568 | +€740 | +2.0% |
| Total equity and liabilities | 10/49 | €1,576,079 | €1,563,851 | -€12,227 | -0.8% |
| Equity | 10/15 | €736,568 | €725,056 | -€11,512 | -1.6% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €8,710 | €8,710 | = | 0.0% |
| Distributable reserves | 133 | €8,710 | €8,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | €552,858 | €541,346 | -€11,512 | -2.1% |
| Amounts payable | 17/49 | €839,511 | €838,795 | -€715 | -0.1% |
| Amounts payable after more than one year | 17 | €687,799 | €660,005 | -€27,795 | -4.0% |
| Financial debts | 170/4 | €687,799 | €660,005 | -€27,795 | -4.0% |
| Amounts payable within one year | 42/48 | €117,220 | €147,576 | +€30,356 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €27,293 | €27,795 | +€502 | +1.8% |
| Trade debts | 44 | €6,190 | €2,296 | -€3,894 | -62.9% |
| Suppliers | 440/4 | €6,190 | €2,296 | -€3,894 | -62.9% |
| Advances received on contracts in progress | 46 | €2,420 | €0 | -€2,420 | -100% |
| Taxes, remuneration and social security | 45 | €2,168 | €6,283 | +€4,115 | +190% |
| Taxes | 450/3 | €2,168 | €6,283 | +€4,115 | +190% |
| Other amounts payable | 47/48 | €79,149 | €111,202 | +€32,053 | +40.5% |
| Accrued charges and deferred income | 492/3 | €34,492 | €31,215 | -€3,277 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,375 | €50,222 | -€3,153 | -5.9% |
| Other operating charges | 640/8 | €4,652 | €5,868 | +€1,216 | +26.1% |
| Gross operating margin | 9900 | €29,857 | €46,650 | +€16,793 | +56.2% |
| Operating profit (loss) | 9901 | -€28,170 | -€9,440 | +€18,730 | +66.5% |
| Financial income | 75/76B | €37,770 | €36,489 | -€1,281 | -3.4% |
| Recurring financial income | 75 | €37,770 | €36,489 | -€1,281 | -3.4% |
| Financial charges | 65/66B | €40,790 | €38,561 | -€2,229 | -5.5% |
| Recurring financial charges | 65 | €40,790 | €38,561 | -€2,229 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,190 | -€11,512 | +€19,679 | +63.1% |
| Profit (loss) for the period | 9904 | -€31,190 | -€11,512 | +€19,679 | +63.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,190 | -€11,512 | +€19,679 | +63.1% |
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 25 October 2026 via checked.be.