VCG VASTGOED: 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.
What changed
VCG VASTGOED
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2,549
2024 · €7,946-€10,495
Equity
€408,468
2024 · €411,018-€2,549
Cash
€75,003
2024 · €74,476+€527
Balance sheet total
€867,153
2024 · €904,274-€37,121
Largest movements
Assets
- Tangible fixed assets -€34,389
down €34,389 (-4.3%), from €804,103 to €769,714
of which Land and buildings: -€33,882
Equity and liabilities
- Debts after one year -€38,512
down €38,512 (-11.5%), from €336,114 to €297,601
of which Financial debts: -€38,512
- Other debts +€14,014
up €14,014 (+32.6%), from €42,995 to €57,009
Income statement
- Gross operating margin -€16,031
down €16,031 (-25.5%), from €62,807 to €46,776
- Taxes -€3,703
down €3,703 (-60.7%), from €6,098 to €2,394
- Financial charges -€1,882
down €1,882 (-13.3%), from €14,152 to €12,269
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.
Result 2024
€7,946
Gross operating margin
-€16,031
Other operating charges
-€24
Financial income
-€26
Financial charges
+€1,882
Taxes
+€3,703
Result 2025
-€2,549
raises the resultlowers the result
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.
From operations
+€44,430
Investment
€0
Financing
-€43,903
Cash 2024
€74,476
From operations (derived)
+€44,430
Net result for the year
-€2,549
Depreciation
+€34,389
Receivables within one year
+€4,165
Deferred charges and accrued income
-€907
Provisions
-€1,727
Trade debts
+€156
Tax, wage and social debts
-€2,888
Other debts
+€14,014
Accrued charges and deferred income
-€223
Financing
-€43,903
Debts after one year
-€38,512
Current portion of long-term debt
-€5,391
Cash 2025
€75,003
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €904,274 | €867,153 | -€37,121 | -4.1% |
| Fixed assets | 21/28 | €822,331 | €787,942 | -€34,389 | -4.2% |
| Tangible fixed assets | 22/27 | €804,103 | €769,714 | -€34,389 | -4.3% |
| Land and buildings | 22 | €801,574 | €767,692 | -€33,882 | -4.2% |
| Other tangible fixed assets | 26 | €2,529 | €2,022 | -€507 | -20.1% |
| Financial fixed assets | 28 | €18,228 | €18,228 | = | 0.0% |
| Current assets | 29/58 | €81,944 | €79,212 | -€2,732 | -3.3% |
| Amounts receivable within one year | 40/41 | €6,417 | €2,251 | -€4,165 | -64.9% |
| Other amounts receivable | 41 | €6,417 | €2,251 | -€4,165 | -64.9% |
| Cash at bank and in hand | 54/58 | €74,476 | €75,003 | +€527 | +0.7% |
| Deferred charges and accrued income | 490/1 | €1,051 | €1,958 | +€907 | +86.3% |
| Total equity and liabilities | 10/49 | €904,274 | €867,153 | -€37,121 | -4.1% |
| Equity | 10/15 | €411,018 | €408,468 | -€2,549 | -0.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €361,018 | €358,468 | -€2,549 | -0.7% |
| Tax-exempt reserves | 132 | €211,025 | €204,116 | -€6,909 | -3.3% |
| Distributable reserves | 133 | €149,993 | €154,353 | +€4,360 | +2.9% |
| Provisions and deferred taxes | 16 | €52,756 | €51,029 | -€1,727 | -3.3% |
| Deferred taxes | 168 | €52,756 | €51,029 | -€1,727 | -3.3% |
| Amounts payable | 17/49 | €440,500 | €407,656 | -€32,844 | -7.5% |
| Amounts payable after more than one year | 17 | €336,114 | €297,601 | -€38,512 | -11.5% |
| Financial debts | 170/4 | €269,114 | €230,601 | -€38,512 | -14.3% |
| Other amounts payable | 178/9 | €67,000 | €67,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,889 | €103,780 | +€5,891 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €43,903 | €38,512 | -€5,391 | -12.3% |
| Trade debts | 44 | €1,530 | €1,686 | +€156 | +10.2% |
| Suppliers | 440/4 | €1,530 | €1,686 | +€156 | +10.2% |
| Taxes, remuneration and social security | 45 | €9,460 | €6,572 | -€2,888 | -30.5% |
| Taxes | 450/3 | €9,460 | €6,572 | -€2,888 | -30.5% |
| Other amounts payable | 47/48 | €42,995 | €57,009 | +€14,014 | +32.6% |
| Accrued charges and deferred income | 492/3 | €6,498 | €6,275 | -€223 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,389 | €34,389 | = | 0.0% |
| Other operating charges | 640/8 | €2,371 | €2,395 | +€24 | +1.0% |
| Gross operating margin | 9900 | €62,807 | €46,776 | -€16,031 | -25.5% |
| Operating profit (loss) | 9901 | €26,047 | €9,992 | -€16,055 | -61.6% |
| Financial income | 75/76B | €421 | €395 | -€26 | -6.2% |
| Recurring financial income | 75 | €421 | €395 | -€26 | -6.2% |
| Financial charges | 65/66B | €14,152 | €12,269 | -€1,882 | -13.3% |
| Recurring financial charges | 65 | €14,152 | €12,269 | -€1,882 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €12,316 | -€1,882 | -€14,198 | |
| Transfer from deferred taxes | 780 | €1,727 | €1,727 | = | 0.0% |
| Income taxes | 67/77 | €6,098 | €2,394 | -€3,703 | -60.7% |
| Profit (loss) for the period | 9904 | €7,946 | -€2,549 | -€10,495 | |
| Transfer from tax-exempt reserves | 789 | €6,909 | €6,909 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,855 | €4,360 | -€10,495 | -70.7% |
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 27 October 2026 via checked.be.