VASTGOED PROJECTEN: 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 PROJECTEN
Largest movements
- Tangible fixed assets -€24,918
down €24,918 (-1.9%), from €1.3m to €1.3m
of which Land and buildings: -€23,165
- Cash -€18,230
down €18,230 (-27.2%), from €66,965 to €48,735
mainly Debts after one year (-€40,999) and Investment in fixed assets (net) (-€11,958)
- Debts after one year -€40,999
down €40,999 (-4.0%), from €1.0m to €988,055
of which Financial debts: -€40,999
- Gross operating margin +€113,549
up €113,549 (+24,741%), from €459 to €114,008
- Financial charges -€20,975
down €20,975 (-27.5%), from €76,315 to €55,340
- Taxes -€11,780
no longer reported in 2025 (was €11,780)
- Other operating charges +€7,146
up €7,146 (+256%), from €2,792 to €9,937
- Staff costs +€6,741
up €6,741 (+109%), from €6,185 to €12,926
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 | €1,660,997 | €1,622,421 | -€38,576 | -2.3% |
| Fixed assets | 21/28 | €1,306,678 | €1,285,848 | -€20,830 | -1.6% |
| Intangible fixed assets | 21 | €0 | €4,088 | +€4,088 | |
| Tangible fixed assets | 22/27 | €1,306,533 | €1,281,615 | -€24,918 | -1.9% |
| Land and buildings | 22 | €1,293,819 | €1,270,654 | -€23,165 | -1.8% |
| Plant, machinery and equipment | 23 | €0 | €5,675 | +€5,675 | |
| Furniture and vehicles | 24 | €12,713 | €5,286 | -€7,427 | -58.4% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €354,320 | €336,573 | -€17,746 | -5.0% |
| Stocks and contracts in progress | 3 | €174,972 | €171,500 | -€3,472 | -2.0% |
| Stocks | 30/36 | €174,972 | €171,500 | -€3,472 | -2.0% |
| Amounts receivable within one year | 40/41 | €112,382 | €110,738 | -€1,644 | -1.5% |
| Trade receivables | 40 | €10,043 | €17,400 | +€7,357 | +73.3% |
| Other amounts receivable | 41 | €102,339 | €93,339 | -€9,000 | -8.8% |
| Current investments | 50/53 | - | €5,600 | +€5,600 | |
| Cash at bank and in hand | 54/58 | €66,965 | €48,735 | -€18,230 | -27.2% |
| Total equity and liabilities | 10/49 | €1,660,997 | €1,622,421 | -€38,576 | -2.3% |
| Equity | 10/15 | -€171,490 | -€168,473 | +€3,017 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,687 | €83,687 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,536 | €22,536 | = | 0.0% |
| Distributable reserves | 133 | €61,151 | €61,151 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,777 | -€270,760 | +€3,017 | +1.1% |
| Amounts payable | 17/49 | €1,832,487 | €1,790,894 | -€41,593 | -2.3% |
| Amounts payable after more than one year | 17 | €1,029,054 | €988,055 | -€40,999 | -4.0% |
| Financial debts | 170/4 | €449,054 | €408,055 | -€40,999 | -9.1% |
| Other amounts payable | 178/9 | €580,000 | €580,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €803,433 | €802,840 | -€594 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €39,789 | €40,999 | +€1,210 | +3.0% |
| Financial debts | 43 | €755,261 | €755,261 | = | 0.0% |
| Credit institutions | 430/8 | €755,261 | €755,261 | = | 0.0% |
| Trade debts | 44 | €2,132 | €1,177 | -€955 | -44.8% |
| Suppliers | 440/4 | €2,132 | €1,177 | -€955 | -44.8% |
| Taxes, remuneration and social security | 45 | €6,251 | €5,402 | -€849 | -13.6% |
| Taxes | 450/3 | €770 | €1,722 | +€952 | +124% |
| Remuneration and social security | 454/9 | €5,481 | €3,680 | -€1,801 | -32.9% |
| Remuneration, social security and pensions | 62 | €6,185 | €12,926 | +€6,741 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,033 | €32,788 | +€754 | +2.4% |
| Other operating charges | 640/8 | €2,792 | €9,937 | +€7,146 | +256% |
| Non-recurring operating charges | 66A | €52,763 | - | -€52,763 | |
| Gross operating margin | 9900 | €459 | €114,008 | +€113,549 | +24,741% |
| Operating profit (loss) | 9901 | -€93,314 | €58,357 | +€151,671 | |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €76,315 | €55,340 | -€20,975 | -27.5% |
| Recurring financial charges | 65 | €76,315 | €55,340 | -€20,975 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€169,607 | €3,017 | +€172,624 | |
| Income taxes | 67/77 | €11,780 | - | -€11,780 | |
| Profit (loss) for the period | 9904 | -€181,387 | €3,017 | +€184,404 | |
| Profit (loss) for the period to be appropriated | 9905 | -€181,387 | €3,017 | +€184,404 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.