VASTGOED SCHEPENS: 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 SCHEPENS
Largest movements
- Cash -€370,086
down €370,086 (-69.8%), from €530,445 to €160,359
mainly Other debts (-€297,162) and Contributions, distributions and other (-€56,000)
- Receivables within one year +€53,782
up €53,782 (+215%), from €24,974 to €78,756
of which Trade receivables: +€61,650
- Tangible fixed assets -€13,613
down €13,613 (-54.7%), from €24,872 to €11,258
of which Furniture and vehicles: -€13,232
- Other debts -€297,162
down €297,162 (-84.1%), from €353,162 to €56,000
- Reserves -€48,412
down €48,412 (-40.5%), from €119,600 to €71,188
- Tax, wage and social debts +€13,405
up €13,405 (+53.7%), from €24,949 to €38,354
of which Taxes: +€12,473
- Gross operating margin -€62,543
down €62,543 (-28.7%), from €217,737 to €155,194
- Staff costs +€38,820
up €38,820 (+48.8%), from €79,610 to €118,430
- Taxes -€27,756
down €27,756 (-82.5%), from €33,631 to €5,875
- Financial income -€10,880
down €10,880 (-99.6%), from €10,920 to €40
- Depreciation +€2,339
up €2,339 (+13.4%), from €17,501 to €19,839
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 | €603,078 | €266,243 | -€336,835 | -55.9% |
| Formation expenses | 20 | €18,230 | €13,322 | -€4,908 | -26.9% |
| Fixed assets | 21/28 | €26,615 | €12,410 | -€14,205 | -53.4% |
| Intangible fixed assets | 21 | €1,612 | €1,151 | -€461 | -28.6% |
| Tangible fixed assets | 22/27 | €24,872 | €11,258 | -€13,613 | -54.7% |
| Land and buildings | 22 | €381 | €0 | -€381 | -100% |
| Furniture and vehicles | 24 | €24,490 | €11,258 | -€13,232 | -54.0% |
| Financial fixed assets | 28 | €131 | €0 | -€131 | -100% |
| Current assets | 29/58 | €558,234 | €240,512 | -€317,722 | -56.9% |
| Amounts receivable within one year | 40/41 | €24,974 | €78,756 | +€53,782 | +215% |
| Trade receivables | 40 | €14,860 | €76,511 | +€61,650 | +415% |
| Other amounts receivable | 41 | €10,114 | €2,246 | -€7,868 | -77.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €530,445 | €160,359 | -€370,086 | -69.8% |
| Deferred charges and accrued income | 490/1 | €2,814 | €1,397 | -€1,418 | -50.4% |
| Total equity and liabilities | 10/49 | €603,078 | €266,243 | -€336,835 | -55.9% |
| Equity | 10/15 | €188,200 | €139,788 | -€48,412 | -25.7% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €119,600 | €71,188 | -€48,412 | -40.5% |
| Distributable reserves | 133 | €119,600 | €71,188 | -€48,412 | -40.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €414,878 | €126,455 | -€288,423 | -69.5% |
| Amounts payable after more than one year | 17 | €11,242 | €7,037 | -€4,206 | -37.4% |
| Financial debts | 170/4 | €11,242 | €7,037 | -€4,206 | -37.4% |
| Amounts payable within one year | 42/48 | €403,636 | €119,036 | -€284,600 | -70.5% |
| Current portion of amounts payable after more than one year | 42 | €4,030 | €4,206 | +€175 | +4.4% |
| Trade debts | 44 | €21,495 | €20,476 | -€1,019 | -4.7% |
| Suppliers | 440/4 | €21,495 | €20,476 | -€1,019 | -4.7% |
| Taxes, remuneration and social security | 45 | €24,949 | €38,354 | +€13,405 | +53.7% |
| Taxes | 450/3 | €13,407 | €25,880 | +€12,473 | +93.0% |
| Remuneration and social security | 454/9 | €11,542 | €12,474 | +€932 | +8.1% |
| Other amounts payable | 47/48 | €353,162 | €56,000 | -€297,162 | -84.1% |
| Accrued charges and deferred income | 492/3 | - | €383 | +€383 | |
| Remuneration, social security and pensions | 62 | €79,610 | €118,430 | +€38,820 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,501 | €19,839 | +€2,339 | +13.4% |
| Other operating charges | 640/8 | €3,529 | €2,719 | -€809 | -22.9% |
| Gross operating margin | 9900 | €217,737 | €155,194 | -€62,543 | -28.7% |
| Operating profit (loss) | 9901 | €117,097 | €14,205 | -€102,892 | -87.9% |
| Financial income | 75/76B | €10,920 | €40 | -€10,880 | -99.6% |
| Recurring financial income | 75 | €10,920 | €40 | -€10,880 | -99.6% |
| Financial charges | 65/66B | €508 | €782 | +€274 | +53.9% |
| Recurring financial charges | 65 | €508 | €782 | +€274 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €127,509 | €13,462 | -€114,046 | -89.4% |
| Income taxes | 67/77 | €33,631 | €5,875 | -€27,756 | -82.5% |
| Profit (loss) for the period | 9904 | €93,878 | €7,588 | -€86,290 | -91.9% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €93,878 | €7,588 | -€86,290 | -91.9% |
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 13 October 2026 via checked.be.