VASTGOED LIBENS: 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.
What changed
VASTGOED LIBENS
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€52,611
2024 · -€59,849+€7,237
Equity
€290,756
2024 · €343,367-€52,611
Cash
€66,830
2024 · €78,453-€11,623
Balance sheet total
€1.9m
2024 · €2.0m-€72,592
Largest movements
Assets
- Tangible fixed assets -€62,491
down €62,491 (-3.9%), from €1.6m to €1.5m
of which Land and buildings: -€80,271
Equity and liabilities
- Profit (loss) carried forward -€44,111
down €44,111 (-23.0%), from -€191,474 to -€235,586
- Current portion of long-term debt -€37,947
down €37,947 (-45.9%), from €82,735 to €44,788
- Other debts +€30,366
up €30,366 (+70.4%), from €43,126 to €73,492
Income statement
- Gross operating margin +€18,470
up €18,470 (+27.5%), from €67,249 to €85,719
- Other operating charges +€8,443
up €8,443 (+53.7%), from €15,735 to €24,178
- Depreciation +€2,042
up €2,042 (+2.2%), from €92,432 to €94,474
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.
Result 2024
-€59,849
Gross operating margin
+€18,470
Depreciation
-€2,042
Other operating charges
-€8,443
Financial income
-€21
Financial charges
-€722
Taxes
-€4
Result 2025
-€52,611
raises the resultlowers the result
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.
From operations
+€67,668
Investment
-€31,983
Financing
-€47,308
Cash 2024
€78,453
From operations (derived)
+€67,668
Net result for the year
-€52,611
Depreciation
+€94,474
Receivables within one year
-€397
Deferred charges and accrued income
-€1,126
Provisions
-€2,833
Trade debts
+€491
Tax, wage and social debts
+€4
Other debts
+€30,366
Accrued charges and deferred income
-€700
Investment (derived)
-€31,983
Investment in fixed assets (net)
-€31,983
Financing
-€47,308
Debts after one year
-€9,361
Current portion of long-term debt
-€37,947
Cash 2025
€66,830
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,966,461 | €1,893,870 | -€72,592 | -3.7% |
| Fixed assets | 21/28 | €1,870,404 | €1,807,913 | -€62,491 | -3.3% |
| Intangible fixed assets | 21 | €270,778 | €270,778 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,599,626 | €1,537,135 | -€62,491 | -3.9% |
| Land and buildings | 22 | €1,561,126 | €1,480,855 | -€80,271 | -5.1% |
| Plant, machinery and equipment | 23 | €9,022 | €7,467 | -€1,555 | -17.2% |
| Furniture and vehicles | 24 | €29,478 | €48,812 | +€19,334 | +65.6% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €96,057 | €85,957 | -€10,100 | -10.5% |
| Amounts receivable within one year | 40/41 | €17,000 | €17,397 | +€397 | +2.3% |
| Trade receivables | 40 | €17,000 | €17,397 | +€397 | +2.3% |
| Cash at bank and in hand | 54/58 | €78,453 | €66,830 | -€11,623 | -14.8% |
| Deferred charges and accrued income | 490/1 | €604 | €1,730 | +€1,126 | +187% |
| Total equity and liabilities | 10/49 | €1,966,461 | €1,893,870 | -€72,592 | -3.7% |
| Equity | 10/15 | €343,367 | €290,756 | -€52,611 | -15.3% |
| Contributions | 10/11 | €206,500 | €206,500 | = | 0.0% |
| Capital | 10 | €206,500 | - | -€206,500 | |
| Issued capital | 100 | €206,500 | - | -€206,500 | |
| Revaluation surpluses | 12 | €104,894 | €104,894 | = | 0.0% |
| Reserves | 13 | €223,448 | €214,948 | -€8,500 | -3.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Tax-exempt reserves | 132 | €216,448 | €207,948 | -€8,500 | -3.9% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,474 | -€235,586 | -€44,111 | -23.0% |
| Provisions and deferred taxes | 16 | €72,149 | €69,316 | -€2,833 | -3.9% |
| Deferred taxes | 168 | €72,149 | €69,316 | -€2,833 | -3.9% |
| Amounts payable | 17/49 | €1,550,945 | €1,533,798 | -€17,147 | -1.1% |
| Amounts payable after more than one year | 17 | €1,368,324 | €1,358,963 | -€9,361 | -0.7% |
| Financial debts | 170/4 | €1,368,324 | €1,358,963 | -€9,361 | -0.7% |
| Amounts payable within one year | 42/48 | €127,093 | €120,007 | -€7,085 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €82,735 | €44,788 | -€37,947 | -45.9% |
| Trade debts | 44 | €780 | €1,271 | +€491 | +63.0% |
| Suppliers | 440/4 | €780 | €1,271 | +€491 | +63.0% |
| Taxes, remuneration and social security | 45 | €452 | €456 | +€4 | +1.0% |
| Taxes | 450/3 | €452 | €456 | +€4 | +1.0% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €43,126 | €73,492 | +€30,366 | +70.4% |
| Accrued charges and deferred income | 492/3 | €55,528 | €54,828 | -€700 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,432 | €94,474 | +€2,042 | +2.2% |
| Other operating charges | 640/8 | €15,735 | €24,178 | +€8,443 | +53.7% |
| Gross operating margin | 9900 | €67,249 | €85,719 | +€18,470 | +27.5% |
| Operating profit (loss) | 9901 | -€40,918 | -€32,934 | +€7,984 | +19.5% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €21,646 | €22,367 | +€722 | +3.3% |
| Recurring financial charges | 65 | €21,646 | €22,367 | +€722 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€62,542 | -€55,301 | +€7,241 | +11.6% |
| Transfer from deferred taxes | 780 | €2,833 | €2,833 | = | 0.0% |
| Income taxes | 67/77 | €140 | €144 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€59,849 | -€52,611 | +€7,237 | +12.1% |
| Transfer from tax-exempt reserves | 789 | €8,500 | €8,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,348 | -€44,111 | +€7,237 | +14.1% |
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 16 October 2026 via checked.be.