VASTGOED3: 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.
VASTGOED3
Largest movements
- Stocks and contracts -€1.8m
down €1.8m (-29.7%), from €5.9m to €4.2m
of which Stocks: -€5.9m
- Receivables after one year +€1.7m
new in 2025: €1.7m
- Receivables within one year -€867,969
down €867,969 (-51.9%), from €1.7m to €804,485
of which Other amounts receivable: -€1.6m
- Other debts -€2.1m
down €2.1m (-88.8%), from €2.4m to €264,660
- Debts after one year +€2.1m
new in 2025: €2.1m
- Short-term financial debts -€1.9m
down €1.9m (-59.6%), from €3.2m to €1.3m
of which Credit institutions: -€1.9m
- Advances received +€760,897
up €760,897 (+62.2%), from €1.2m to €2.0m
- Tax, wage and social debts +€298,859
up €298,859 (+264%), from €112,995 to €411,854
- Gross operating margin +€329,087
up €329,087, from -€1,148 to €327,940
- Taxes +€83,009
up €83,009 (+1,592%), from €5,213 to €88,222
- Write-downs -€8,000
no longer reported in 2025 (was €8,000)
- Financial income -€4,039
down €4,039 (-8.1%), from €50,007 to €45,969
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 | €7,584,049 | €6,628,445 | -€955,604 | -12.6% |
| Current assets | 29/58 | €7,584,049 | €6,628,445 | -€955,604 | -12.6% |
| Amounts receivable after more than one year | 29 | - | €1,667,969 | +€1.7m | |
| Other amounts receivable | 291 | - | €1,667,969 | +€1.7m | |
| Stocks and contracts in progress | 3 | €5,908,728 | €4,155,835 | -€1.8m | -29.7% |
| Stocks | 30/36 | €5,908,728 | - | -€5.9m | |
| Contracts in progress | 37 | - | €4,155,835 | +€4.2m | |
| Amounts receivable within one year | 40/41 | €1,672,453 | €804,485 | -€867,969 | -51.9% |
| Trade receivables | 40 | €100,112 | €804,485 | +€704,373 | +704% |
| Other amounts receivable | 41 | €1,572,342 | - | -€1.6m | |
| Cash at bank and in hand | 54/58 | - | €157 | +€157 | |
| Deferred charges and accrued income | 490/1 | €2,868 | - | -€2,868 | |
| Total equity and liabilities | 10/49 | €7,584,049 | €6,628,445 | -€955,604 | -12.6% |
| Equity | 10/15 | €226,141 | €226,147 | +€6 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,941 | €219,947 | +€6 | 0.0% |
| Amounts payable | 17/49 | €7,357,908 | €6,402,298 | -€955,610 | -13.0% |
| Amounts payable after more than one year | 17 | - | €2,096,863 | +€2.1m | |
| Other amounts payable | 178/9 | - | €2,096,863 | +€2.1m | |
| Amounts payable within one year | 42/48 | €7,348,199 | €4,296,430 | -€3.1m | -41.5% |
| Financial debts | 43 | €3,163,890 | €1,277,660 | -€1.9m | -59.6% |
| Credit institutions | 430/8 | €3,153,960 | €1,277,660 | -€1.9m | -59.5% |
| Other loans | 439 | €9,930 | - | -€9,930 | |
| Trade debts | 44 | €485,790 | €358,108 | -€127,682 | -26.3% |
| Suppliers | 440/4 | €485,790 | €358,108 | -€127,682 | -26.3% |
| Advances received on contracts in progress | 46 | €1,223,252 | €1,984,149 | +€760,897 | +62.2% |
| Taxes, remuneration and social security | 45 | €112,995 | €411,854 | +€298,859 | +264% |
| Taxes | 450/3 | €112,995 | €411,854 | +€298,859 | +264% |
| Other amounts payable | 47/48 | €2,362,272 | €264,660 | -€2.1m | -88.8% |
| Accrued charges and deferred income | 492/3 | €9,709 | €9,004 | -€705 | -7.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,000 | - | -€8,000 | |
| Other operating charges | 640/8 | €449 | €1,060 | +€611 | +136% |
| Gross operating margin | 9900 | -€1,148 | €327,940 | +€329,087 | |
| Operating profit (loss) | 9901 | -€9,597 | €326,879 | +€336,476 | |
| Financial income | 75/76B | €50,007 | €45,969 | -€4,039 | -8.1% |
| Recurring financial income | 75 | €50,007 | €45,969 | -€4,039 | -8.1% |
| Financial charges | 65/66B | €21,279 | €19,960 | -€1,320 | -6.2% |
| Recurring financial charges | 65 | €21,279 | €19,960 | -€1,320 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €19,131 | €352,888 | +€333,757 | +1,745% |
| Income taxes | 67/77 | €5,213 | €88,222 | +€83,009 | +1,592% |
| Profit (loss) for the period | 9904 | €13,918 | €264,666 | +€250,748 | +1,802% |
| Profit (loss) for the period to be appropriated | 9905 | €13,918 | €264,666 | +€250,748 | +1,802% |
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 26 October 2026 via checked.be.