VDL 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.
VDL VASTGOED
Largest movements
- Tangible fixed assets -€30,872
down €30,872 (-2.4%), from €1.3m to €1.2m
of which Other tangible fixed assets: -€18,852
- Debts after one year -€89,445
down €89,445 (-14.0%), from €640,735 to €551,290
- Reserves +€45,268
up €45,268 (+21.6%), from €209,450 to €254,719
- Trade debts +€15,111
up €15,111, from €0 to €15,111
- Gross operating margin -€3,548
down €3,548 (-2.7%), from €130,866 to €127,317
- Taxes -€1,692
down €1,692 (-10.7%), from €15,783 to €14,091
- Financial charges -€1,326
down €1,326 (-10.5%), from €12,599 to €11,272
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 | €1,291,021 | €1,267,188 | -€23,832 | -1.8% |
| Fixed assets | 21/28 | €1,272,183 | €1,241,311 | -€30,872 | -2.4% |
| Tangible fixed assets | 22/27 | €1,272,183 | €1,241,311 | -€30,872 | -2.4% |
| Land and buildings | 22 | €700,431 | €688,411 | -€12,020 | -1.7% |
| Other tangible fixed assets | 26 | €571,752 | €552,900 | -€18,852 | -3.3% |
| Current assets | 29/58 | €18,838 | €25,878 | +€7,040 | +37.4% |
| Amounts receivable within one year | 40/41 | €6,010 | €17,109 | +€11,099 | +185% |
| Trade receivables | 40 | €6,010 | €17,109 | +€11,099 | +185% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €12,828 | €8,768 | -€4,060 | -31.6% |
| Total equity and liabilities | 10/49 | €1,291,021 | €1,267,188 | -€23,832 | -1.8% |
| Equity | 10/15 | €556,232 | €601,501 | +€45,268 | +8.1% |
| Contributions | 10/11 | €340,000 | €340,000 | = | 0.0% |
| Revaluation surpluses | 12 | €6,782 | €6,782 | = | 0.0% |
| Reserves | 13 | €209,450 | €254,719 | +€45,268 | +21.6% |
| Distributable reserves | 133 | €209,450 | €254,719 | +€45,268 | +21.6% |
| Amounts payable | 17/49 | €734,788 | €665,688 | -€69,100 | -9.4% |
| Amounts payable after more than one year | 17 | €640,735 | €551,290 | -€89,445 | -14.0% |
| Financial debts | 170/4 | €640,735 | €551,290 | -€89,445 | -14.0% |
| Amounts payable within one year | 42/48 | €91,960 | €112,271 | +€20,312 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €88,024 | €89,445 | +€1,421 | +1.6% |
| Trade debts | 44 | €0 | €15,111 | +€15,111 | |
| Suppliers | 440/4 | €0 | €15,111 | +€15,111 | |
| Taxes, remuneration and social security | 45 | €3,935 | €7,716 | +€3,780 | +96.1% |
| Taxes | 450/3 | €3,935 | €7,716 | +€3,780 | +96.1% |
| Accrued charges and deferred income | 492/3 | €2,094 | €2,126 | +€33 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,868 | €44,646 | +€778 | +1.8% |
| Other operating charges | 640/8 | €11,675 | €12,040 | +€365 | +3.1% |
| Gross operating margin | 9900 | €130,866 | €127,317 | -€3,548 | -2.7% |
| Operating profit (loss) | 9901 | €75,322 | €70,631 | -€4,691 | -6.2% |
| Financial income | 75/76B | €226 | €0 | -€226 | -100.0% |
| Recurring financial income | 75 | €226 | €0 | -€226 | -100.0% |
| Financial charges | 65/66B | €12,599 | €11,272 | -€1,326 | -10.5% |
| Recurring financial charges | 65 | €12,599 | €11,272 | -€1,326 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €62,950 | €59,359 | -€3,591 | -5.7% |
| Income taxes | 67/77 | €15,783 | €14,091 | -€1,692 | -10.7% |
| Profit (loss) for the period | 9904 | €47,167 | €45,268 | -€1,899 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,167 | €45,268 | -€1,899 | -4.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.