Vastgoedmeesters: 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.
Vastgoedmeesters
Largest movements
- Tangible fixed assets +€233,260
up €233,260 (+21.6%), from €1.1m to €1.3m
of which Land and buildings: +€196,525
- Cash -€29,124
down €29,124 (-67.4%), from €43,199 to €14,074
mainly Investment in fixed assets (net) (-€298,658) and Net result for the year (-€58,582)
- Receivables after one year -€20,000
down €20,000 (-20.0%), from €100,000 to €80,000
- Debts after one year +€119,825
up €119,825 (+20.0%), from €599,557 to €719,383
of which Financial debts: +€115,825
- Other debts +€110,437
up €110,437 (+4,547%), from €2,429 to €112,866
- Profit (loss) carried forward -€58,582
down €58,582, from €1,745 to -€56,837
- Tax, wage and social debts -€28,752
down €28,752 (-84.8%), from €33,904 to €5,152
- Current portion of long-term debt +€28,698
up €28,698 (+376%), from €7,638 to €36,336
- Depreciation +€28,507
up €28,507 (+77.3%), from €36,891 to €65,398
- Financial charges +€13,756
up €13,756 (+71.2%), from €19,311 to €33,067
- Other operating charges +€2,753
up €2,753 (+2,430%), from €113 to €2,866
- Gross operating margin +€455
up €455 (+1.1%), from €41,085 to €41,539
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 | €1,356,906 | €1,542,583 | +€185,677 | +13.7% |
| Fixed assets | 21/28 | €1,078,112 | €1,311,372 | +€233,260 | +21.6% |
| Tangible fixed assets | 22/27 | €1,078,111 | €1,311,371 | +€233,260 | +21.6% |
| Land and buildings | 22 | €1,043,932 | €1,240,457 | +€196,525 | +18.8% |
| Furniture and vehicles | 24 | €34,179 | €24,769 | -€9,410 | -27.5% |
| Other tangible fixed assets | 26 | - | €46,145 | +€46,145 | |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €278,793 | €231,211 | -€47,583 | -17.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Other amounts receivable | 291 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €135,595 | €137,136 | +€1,542 | +1.1% |
| Trade receivables | 40 | €8,595 | €9,983 | +€1,388 | +16.1% |
| Other amounts receivable | 41 | €127,000 | €127,154 | +€154 | +0.1% |
| Cash at bank and in hand | 54/58 | €43,199 | €14,074 | -€29,124 | -67.4% |
| Total equity and liabilities | 10/49 | €1,356,906 | €1,542,583 | +€185,677 | +13.7% |
| Equity | 10/15 | €713,109 | €654,527 | -€58,582 | -8.2% |
| Contributions | 10/11 | €273,160 | €273,160 | = | 0.0% |
| Reserves | 13 | €438,204 | €438,204 | = | 0.0% |
| Distributable reserves | 133 | €438,204 | €438,204 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,745 | -€56,837 | -€58,582 | |
| Amounts payable | 17/49 | €643,797 | €888,056 | +€244,259 | +37.9% |
| Amounts payable after more than one year | 17 | €599,557 | €719,383 | +€119,825 | +20.0% |
| Financial debts | 170/4 | €599,557 | €715,383 | +€115,825 | +19.3% |
| Other amounts payable | 178/9 | - | €4,000 | +€4,000 | |
| Amounts payable within one year | 42/48 | €44,239 | €168,673 | +€124,434 | +281% |
| Current portion of amounts payable after more than one year | 42 | €7,638 | €36,336 | +€28,698 | +376% |
| Trade debts | 44 | €268 | €14,319 | +€14,051 | +5,243% |
| Suppliers | 440/4 | €268 | €14,319 | +€14,051 | +5,243% |
| Taxes, remuneration and social security | 45 | €33,904 | €5,152 | -€28,752 | -84.8% |
| Taxes | 450/3 | €33,904 | €5,152 | -€28,752 | -84.8% |
| Other amounts payable | 47/48 | €2,429 | €112,866 | +€110,437 | +4,547% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,891 | €65,398 | +€28,507 | +77.3% |
| Other operating charges | 640/8 | €113 | €2,866 | +€2,753 | +2,430% |
| Gross operating margin | 9900 | €41,085 | €41,539 | +€455 | +1.1% |
| Operating profit (loss) | 9901 | €4,080 | -€26,724 | -€30,805 | |
| Financial income | 75/76B | €1,388 | €1,350 | -€37 | -2.7% |
| Recurring financial income | 75 | €1,388 | €1,350 | -€37 | -2.7% |
| Financial charges | 65/66B | €19,311 | €33,067 | +€13,756 | +71.2% |
| Recurring financial charges | 65 | €19,311 | €33,067 | +€13,756 | +71.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,843 | -€58,441 | -€44,598 | -322% |
| Income taxes | 67/77 | €143 | €141 | -€2 | -1.3% |
| Profit (loss) for the period | 9904 | -€13,986 | -€58,582 | -€44,596 | -319% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,986 | -€58,582 | -€44,596 | -319% |
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 16 October 2026 via checked.be.