VBN VASTGOED: what changed
VBN VASTGOED
Largest movements
- Receivables within one year -€14,478
down €14,478 (-74.0%), from €19,575 to €5,097
of which Trade receivables: -€14,478
- Deferred charges and accrued income +€14,007
up €14,007 (+756%), from €1,852 to €15,859
- Cash -€4,329
down €4,329 (-33.2%), from €13,048 to €8,720
mainly Deferred charges and accrued income (-€14,007) and Trade debts (-€8,008)
- Tangible fixed assets -€3,040
down €3,040 (-64.8%), from €4,691 to €1,652
- Other debts +€8,200
up €8,200 (+45.6%), from €17,981 to €26,181
- Trade debts -€8,008
down €8,008 (-87.4%), from €9,168 to €1,160
- Tax, wage and social debts -€6,185
down €6,185 (-45.3%), from €13,652 to €7,466
of which Remuneration and social security: -€3,753
- Profit (loss) carried forward -€2,971
down €2,971 (-79.1%), from -€3,755 to -€6,727
- Accrued charges and deferred income +€1,000
new in 2025: €1,000
- Gross operating margin -€37,325
down €37,325 (-59.7%), from €62,505 to €25,181
- Staff costs -€32,836
down €32,836 (-58.3%), from €56,312 to €23,476
- Other operating charges +€1,214
up €1,214 (+1,029%), from €118 to €1,332
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,546 | €31,581 | -€7,965 | -20.1% |
| Formation expenses | 20 | €379 | €253 | -€126 | -33.2% |
| Fixed assets | 21/28 | €4,691 | €1,652 | -€3,040 | -64.8% |
| Tangible fixed assets | 22/27 | €4,691 | €1,652 | -€3,040 | -64.8% |
| Furniture and vehicles | 24 | €4,691 | €1,652 | -€3,040 | -64.8% |
| Current assets | 29/58 | €34,476 | €29,676 | -€4,800 | -13.9% |
| Amounts receivable within one year | 40/41 | €19,575 | €5,097 | -€14,478 | -74.0% |
| Trade receivables | 40 | €19,275 | €4,797 | -€14,478 | -75.1% |
| Other amounts receivable | 41 | €300 | €300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,048 | €8,720 | -€4,329 | -33.2% |
| Deferred charges and accrued income | 490/1 | €1,852 | €15,859 | +€14,007 | +756% |
| Total equity and liabilities | 10/49 | €39,546 | €31,581 | -€7,965 | -20.1% |
| Equity | 10/15 | -€1,255 | -€4,227 | -€2,971 | -237% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,755 | -€6,727 | -€2,971 | -79.1% |
| Amounts payable | 17/49 | €40,801 | €35,807 | -€4,994 | -12.2% |
| Amounts payable within one year | 42/48 | €40,801 | €34,807 | -€5,994 | -14.7% |
| Trade debts | 44 | €9,168 | €1,160 | -€8,008 | -87.4% |
| Suppliers | 440/4 | €9,168 | €1,160 | -€8,008 | -87.4% |
| Taxes, remuneration and social security | 45 | €13,652 | €7,466 | -€6,185 | -45.3% |
| Taxes | 450/3 | €9,899 | €7,466 | -€2,432 | -24.6% |
| Remuneration and social security | 454/9 | €3,753 | - | -€3,753 | |
| Other amounts payable | 47/48 | €17,981 | €26,181 | +€8,200 | +45.6% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €56,312 | €23,476 | -€32,836 | -58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,165 | €3,165 | +€0 | 0.0% |
| Other operating charges | 640/8 | €118 | €1,332 | +€1,214 | +1,029% |
| Non-recurring operating charges | 66A | €6,009 | - | -€6,009 | |
| Gross operating margin | 9900 | €62,505 | €25,181 | -€37,325 | -59.7% |
| Operating profit (loss) | 9901 | -€3,099 | -€2,793 | +€306 | +9.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -86.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -86.7% |
| Financial charges | 65/66B | €604 | €145 | -€459 | -76.0% |
| Recurring financial charges | 65 | €604 | €145 | -€459 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,702 | -€2,938 | +€764 | +20.6% |
| Income taxes | 67/77 | €146 | €34 | -€113 | -77.0% |
| Profit (loss) for the period | 9904 | -€3,848 | -€2,971 | +€877 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,848 | -€2,971 | +€877 | +22.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.