VASTGOEDEXPERTEN: 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.
VASTGOEDEXPERTEN
Largest movements
- Current investments +€221,095
up €221,095 (+65.6%), from €337,178 to €558,273
- Cash -€202,304
down €202,304 (-36.4%), from €555,069 to €352,764
mainly Current investments (-€221,095) and Trade debts (-€29,392)
- Tangible fixed assets -€30,717
down €30,717 (-21.1%), from €145,287 to €114,570
of which Land and buildings: -€23,981
- Receivables within one year +€20,865
up €20,865 (+172%), from €12,156 to €33,021
of which Trade receivables: +€18,313
- Reserves +€83,868
up €83,868 (+12.1%), from €692,025 to €775,893
of which Distributable reserves: +€83,868
- Trade debts -€29,392
down €29,392 (-37.5%), from €78,423 to €49,032
- Debts after one year -€15,092
down €15,092 (-9.0%), from €167,861 to €152,768
- Tax, wage and social debts -€14,830
down €14,830 (-41.8%), from €35,515 to €20,685
of which Remuneration and social security: -€8,587
- Accrued charges and deferred income -€13,921
down €13,921 (-71.4%), from €19,489 to €5,567
- Gross operating margin +€84,667
up €84,667 (+27.7%), from €305,471 to €390,138
- Taxes +€29,948
up €29,948 (+217%), from €13,784 to €43,732
- Staff costs -€6,575
down €6,575 (-2.9%), from €228,691 to €222,117
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 | €1,094,308 | €1,101,107 | +€6,799 | +0.6% |
| Fixed assets | 21/28 | €145,337 | €114,620 | -€30,717 | -21.1% |
| Tangible fixed assets | 22/27 | €145,287 | €114,570 | -€30,717 | -21.1% |
| Land and buildings | 22 | €123,560 | €99,579 | -€23,981 | -19.4% |
| Plant, machinery and equipment | 23 | €9,001 | €5,935 | -€3,066 | -34.1% |
| Furniture and vehicles | 24 | €5,351 | €2,602 | -€2,748 | -51.4% |
| Other tangible fixed assets | 26 | €7,376 | €6,454 | -€922 | -12.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €948,971 | €986,487 | +€37,516 | +4.0% |
| Amounts receivable after more than one year | 29 | €44,167 | €41,667 | -€2,500 | -5.7% |
| Other amounts receivable | 291 | €44,167 | €41,667 | -€2,500 | -5.7% |
| Amounts receivable within one year | 40/41 | €12,156 | €33,021 | +€20,865 | +172% |
| Trade receivables | 40 | €650 | €18,963 | +€18,313 | +2,818% |
| Other amounts receivable | 41 | €11,506 | €14,058 | +€2,552 | +22.2% |
| Current investments | 50/53 | €337,178 | €558,273 | +€221,095 | +65.6% |
| Cash at bank and in hand | 54/58 | €555,069 | €352,764 | -€202,304 | -36.4% |
| Deferred charges and accrued income | 490/1 | €402 | €762 | +€360 | +89.4% |
| Total equity and liabilities | 10/49 | €1,094,308 | €1,101,107 | +€6,799 | +0.6% |
| Equity | 10/15 | €741,985 | €825,853 | +€83,868 | +11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €692,025 | €775,893 | +€83,868 | +12.1% |
| Tax-exempt reserves | 132 | €31,122 | €31,122 | = | 0.0% |
| Distributable reserves | 133 | €660,902 | €744,771 | +€83,868 | +12.7% |
| Profit (loss) carried forward | 14 | €37,560 | €37,560 | = | 0.0% |
| Amounts payable | 17/49 | €352,324 | €275,254 | -€77,069 | -21.9% |
| Amounts payable after more than one year | 17 | €167,861 | €152,768 | -€15,092 | -9.0% |
| Financial debts | 170/4 | €167,861 | €152,768 | -€15,092 | -9.0% |
| Amounts payable within one year | 42/48 | €164,974 | €116,919 | -€48,056 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €14,344 | €14,845 | +€500 | +3.5% |
| Trade debts | 44 | €78,423 | €49,032 | -€29,392 | -37.5% |
| Suppliers | 440/4 | €78,423 | €49,032 | -€29,392 | -37.5% |
| Taxes, remuneration and social security | 45 | €35,515 | €20,685 | -€14,830 | -41.8% |
| Taxes | 450/3 | €25,762 | €19,519 | -€6,243 | -24.2% |
| Remuneration and social security | 454/9 | €9,753 | €1,167 | -€8,587 | -88.0% |
| Other amounts payable | 47/48 | €36,692 | €32,357 | -€4,335 | -11.8% |
| Accrued charges and deferred income | 492/3 | €19,489 | €5,567 | -€13,921 | -71.4% |
| Remuneration, social security and pensions | 62 | €228,691 | €222,117 | -€6,575 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,335 | €30,717 | -€619 | -2.0% |
| Other operating charges | 640/8 | €4,006 | €4,099 | +€94 | +2.3% |
| Gross operating margin | 9900 | €305,471 | €390,138 | +€84,667 | +27.7% |
| Operating profit (loss) | 9901 | €41,438 | €133,205 | +€91,767 | +221% |
| Financial income | 75/76B | €1,732 | €2,502 | +€770 | +44.4% |
| Recurring financial income | 75 | €1,732 | €2,502 | +€770 | +44.4% |
| Financial charges | 65/66B | €8,519 | €8,106 | -€413 | -4.9% |
| Recurring financial charges | 65 | €8,519 | €8,106 | -€413 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €34,651 | €127,601 | +€92,950 | +268% |
| Income taxes | 67/77 | €13,784 | €43,732 | +€29,948 | +217% |
| Profit (loss) for the period | 9904 | €20,867 | €83,868 | +€63,002 | +302% |
| Profit (loss) for the period to be appropriated | 9905 | €20,867 | €83,868 | +€63,002 | +302% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.