Vastgoed Select: 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 Select
Largest movements
- Tangible fixed assets -€18,947
down €18,947 (-25.0%), from €75,735 to €56,788
of which Furniture and vehicles: -€14,207
- Receivables within one year -€7,155
down €7,155 (-34.4%), from €20,821 to €13,665
- Cash +€4,748
up €4,748 (+68.8%), from €6,897 to €11,645
mainly Depreciation (+€22,500) and Net result for the year (+€8,342)
- Current portion of long-term debt -€11,898
down €11,898 (-91.6%), from €12,985 to €1,086
- Other debts -€10,457
down €10,457 (-17.7%), from €59,106 to €48,649
- Advances received -€8,874
no longer reported in 2025 (was €8,874)
- Profit (loss) carried forward +€7,492
up €7,492 (+103%), from €7,285 to €14,777
- Tax, wage and social debts +€1,992
up €1,992 (+24.0%), from €8,303 to €10,295
- Depreciation -€5,284
down €5,284 (-19.0%), from €27,784 to €22,500
- Taxes +€2,383
up €2,383 (+359%), from €663 to €3,045
- Gross operating margin +€1,775
up €1,775 (+5.2%), from €33,957 to €35,732
- Other operating charges -€1,139
down €1,139 (-77.9%), from €1,463 to €324
- Financial charges -€969
down €969 (-38.9%), from €2,489 to €1,521
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 | €103,453 | €82,098 | -€21,354 | -20.6% |
| Fixed assets | 21/28 | €75,735 | €56,788 | -€18,947 | -25.0% |
| Tangible fixed assets | 22/27 | €75,735 | €56,788 | -€18,947 | -25.0% |
| Land and buildings | 22 | €11,359 | €9,441 | -€1,918 | -16.9% |
| Plant, machinery and equipment | 23 | €8,304 | €5,482 | -€2,822 | -34.0% |
| Furniture and vehicles | 24 | €56,073 | €41,865 | -€14,207 | -25.3% |
| Current assets | 29/58 | €27,718 | €25,310 | -€2,407 | -8.7% |
| Amounts receivable within one year | 40/41 | €20,821 | €13,665 | -€7,155 | -34.4% |
| Trade receivables | 40 | €20,821 | €13,665 | -€7,155 | -34.4% |
| Cash at bank and in hand | 54/58 | €6,897 | €11,645 | +€4,748 | +68.8% |
| Total equity and liabilities | 10/49 | €103,453 | €82,098 | -€21,354 | -20.6% |
| Equity | 10/15 | €12,285 | €19,777 | +€7,492 | +61.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,285 | €14,777 | +€7,492 | +103% |
| Amounts payable | 17/49 | €91,168 | €62,322 | -€28,846 | -31.6% |
| Amounts payable after more than one year | 17 | €1,086 | - | -€1,086 | |
| Financial debts | 170/4 | €1,086 | - | -€1,086 | |
| Amounts payable within one year | 42/48 | €90,082 | €62,322 | -€27,760 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €12,985 | €1,086 | -€11,898 | -91.6% |
| Trade debts | 44 | €815 | €2,291 | +€1,476 | +181% |
| Suppliers | 440/4 | €815 | €2,291 | +€1,476 | +181% |
| Advances received on contracts in progress | 46 | €8,874 | - | -€8,874 | |
| Taxes, remuneration and social security | 45 | €8,303 | €10,295 | +€1,992 | +24.0% |
| Taxes | 450/3 | €8,303 | €10,295 | +€1,992 | +24.0% |
| Other amounts payable | 47/48 | €59,106 | €48,649 | -€10,457 | -17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,784 | €22,500 | -€5,284 | -19.0% |
| Other operating charges | 640/8 | €1,463 | €324 | -€1,139 | -77.9% |
| Gross operating margin | 9900 | €33,957 | €35,732 | +€1,775 | +5.2% |
| Operating profit (loss) | 9901 | €4,710 | €12,908 | +€8,198 | +174% |
| Financial charges | 65/66B | €2,489 | €1,521 | -€969 | -38.9% |
| Recurring financial charges | 65 | €2,489 | €1,521 | -€969 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €2,221 | €11,387 | +€9,167 | +413% |
| Income taxes | 67/77 | €663 | €3,045 | +€2,383 | +359% |
| Profit (loss) for the period | 9904 | €1,558 | €8,342 | +€6,784 | +435% |
| Profit (loss) for the period to be appropriated | 9905 | €1,558 | €8,342 | +€6,784 | +435% |
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 17 October 2026 via checked.be.