VASTGOEDPROJECTONTWIKKELING: 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.
VASTGOEDPROJECTONTWIKKELING
Largest movements
- Receivables within one year +€412,359
up €412,359 (+41.4%), from €995,998 to €1.4m
of which Other amounts receivable: +€420,257
- Deferred charges and accrued income +€45,063
up €45,063 (+1,272%), from €3,543 to €48,605
- Tangible fixed assets -€37,669
down €37,669 (-2.4%), from €1.6m to €1.5m
of which Land and buildings: -€37,654
- Debts after one year +€401,961
up €401,961 (+3,138%), from €12,811 to €414,772
- Tax, wage and social debts -€76,439
down €76,439 (-76.4%), from €100,116 to €23,677
- Profit (loss) carried forward +€75,957
up €75,957 (+7.6%), from €1.0m to €1.1m
- Current portion of long-term debt +€57,537
up €57,537 (+67.0%), from €85,866 to €143,403
- Accrued charges and deferred income -€49,975
down €49,975 (-12.2%), from €408,129 to €358,154
- Gross operating margin -€604,582
down €604,582 (-79.0%), from €765,074 to €160,492
- Depreciation -€16,999
down €16,999 (-31.1%), from €54,668 to €37,669
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 | €2,591,159 | €3,015,459 | +€424,300 | +16.4% |
| Fixed assets | 21/28 | €1,580,641 | €1,542,972 | -€37,669 | -2.4% |
| Tangible fixed assets | 22/27 | €1,580,641 | €1,542,972 | -€37,669 | -2.4% |
| Land and buildings | 22 | €1,580,439 | €1,542,784 | -€37,654 | -2.4% |
| Furniture and vehicles | 24 | €203 | €188 | -€15 | -7.3% |
| Current assets | 29/58 | €1,010,518 | €1,472,487 | +€461,969 | +45.7% |
| Amounts receivable within one year | 40/41 | €995,998 | €1,408,358 | +€412,359 | +41.4% |
| Trade receivables | 40 | €11,357 | €3,460 | -€7,897 | -69.5% |
| Other amounts receivable | 41 | €984,641 | €1,404,898 | +€420,257 | +42.7% |
| Cash at bank and in hand | 54/58 | €10,977 | €15,524 | +€4,547 | +41.4% |
| Deferred charges and accrued income | 490/1 | €3,543 | €48,605 | +€45,063 | +1,272% |
| Total equity and liabilities | 10/49 | €2,591,159 | €3,015,459 | +€424,300 | +16.4% |
| Equity | 10/15 | €1,810,832 | €1,886,789 | +€75,957 | +4.2% |
| Reserves | 13 | €810,003 | €810,003 | = | 0.0% |
| Tax-exempt reserves | 132 | €486,046 | €486,046 | = | 0.0% |
| Distributable reserves | 133 | €323,957 | €323,957 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,000,828 | €1,076,785 | +€75,957 | +7.6% |
| Provisions and deferred taxes | 16 | €149,515 | €149,515 | = | 0.0% |
| Deferred taxes | 168 | €149,515 | €149,515 | = | 0.0% |
| Amounts payable | 17/49 | €630,812 | €979,155 | +€348,343 | +55.2% |
| Amounts payable after more than one year | 17 | €12,811 | €414,772 | +€401,961 | +3,138% |
| Financial debts | 170/4 | €12,811 | €414,772 | +€401,961 | +3,138% |
| Amounts payable within one year | 42/48 | €209,872 | €206,229 | -€3,643 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €85,866 | €143,403 | +€57,537 | +67.0% |
| Trade debts | 44 | €23,891 | €39,149 | +€15,259 | +63.9% |
| Suppliers | 440/4 | €23,891 | €39,149 | +€15,259 | +63.9% |
| Taxes, remuneration and social security | 45 | €100,116 | €23,677 | -€76,439 | -76.4% |
| Taxes | 450/3 | €100,116 | €23,677 | -€76,439 | -76.4% |
| Accrued charges and deferred income | 492/3 | €408,129 | €358,154 | -€49,975 | -12.2% |
| Non-recurring operating income | 76A | €598,062 | - | -€598,062 | |
| Remuneration, social security and pensions | 62 | €5,344 | €34 | -€5,310 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,668 | €37,669 | -€16,999 | -31.1% |
| Other operating charges | 640/8 | €40,175 | €39,008 | -€1,167 | -2.9% |
| Gross operating margin | 9900 | €765,074 | €160,492 | -€604,582 | -79.0% |
| Operating profit (loss) | 9901 | €664,886 | €83,781 | -€581,105 | -87.4% |
| Financial income | 75/76B | €24,163 | €28,645 | +€4,482 | +18.5% |
| Recurring financial income | 75 | €24,163 | €28,645 | +€4,482 | +18.5% |
| Financial charges | 65/66B | €10,721 | €12,792 | +€2,071 | +19.3% |
| Recurring financial charges | 65 | €10,721 | €12,792 | +€2,071 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €678,328 | €99,634 | -€578,695 | -85.3% |
| Transfer to deferred taxes | 680 | €149,515 | - | -€149,515 | |
| Income taxes | 67/77 | €21,434 | €23,677 | +€2,243 | +10.5% |
| Profit (loss) for the period | 9904 | €507,379 | €75,957 | -€431,422 | -85.0% |
| Transfer to tax-exempt reserves | 689 | €448,546 | - | -€448,546 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,833 | €75,957 | +€17,124 | +29.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.