VD Property Group: 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.
VD Property Group
Largest movements
- Cash +€36,433
up €36,433 (+31.9%), from €114,079 to €150,513
mainly Net result for the year (+€23,131) and Depreciation (+€18,247)
- Tangible fixed assets -€18,247
down €18,247 (-12.2%), from €149,606 to €131,359
- Reserves +€23,131
up €23,131 (+17.0%), from €135,705 to €158,836
- Tax, wage and social debts -€4,945
down €4,945 (-73.6%), from €6,723 to €1,778
- Gross operating margin +€11,310
up €11,310 (+24.9%), from €45,455 to €56,765
- Taxes +€3,811
up €3,811 (+54.6%), from €6,984 to €10,794
- Depreciation -€804
down €804 (-4.2%), from €19,052 to €18,247
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 | €263,685 | €281,871 | +€18,186 | +6.9% |
| Fixed assets | 21/28 | €149,606 | €131,359 | -€18,247 | -12.2% |
| Tangible fixed assets | 22/27 | €149,606 | €131,359 | -€18,247 | -12.2% |
| Land and buildings | 22 | €149,606 | €131,359 | -€18,247 | -12.2% |
| Current assets | 29/58 | €114,079 | €150,513 | +€36,433 | +31.9% |
| Cash at bank and in hand | 54/58 | €114,079 | €150,513 | +€36,433 | +31.9% |
| Total equity and liabilities | 10/49 | €263,685 | €281,871 | +€18,186 | +6.9% |
| Equity | 10/15 | €256,962 | €280,093 | +€23,131 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,705 | €158,836 | +€23,131 | +17.0% |
| Distributable reserves | 133 | €135,705 | €158,836 | +€23,131 | +17.0% |
| Profit (loss) carried forward | 14 | €102,657 | €102,657 | = | 0.0% |
| Amounts payable | 17/49 | €6,723 | €1,778 | -€4,945 | -73.6% |
| Amounts payable within one year | 42/48 | €6,723 | €1,778 | -€4,945 | -73.6% |
| Taxes, remuneration and social security | 45 | €6,723 | €1,778 | -€4,945 | -73.6% |
| Taxes | 450/3 | €6,723 | €1,778 | -€4,945 | -73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,052 | €18,247 | -€804 | -4.2% |
| Other operating charges | 640/8 | €4,411 | €4,547 | +€136 | +3.1% |
| Gross operating margin | 9900 | €45,455 | €56,765 | +€11,310 | +24.9% |
| Operating profit (loss) | 9901 | €21,992 | €33,970 | +€11,978 | +54.5% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €21,949 | €33,925 | +€11,976 | +54.6% |
| Income taxes | 67/77 | €6,984 | €10,794 | +€3,811 | +54.6% |
| Profit (loss) for the period | 9904 | €14,965 | €23,131 | +€8,166 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,965 | €23,131 | +€8,166 | +54.6% |
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 23 October 2026 via checked.be.