VDP 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.
VDP Vastgoed
Largest movements
- Receivables within one year +€25,034
up €25,034 (+66.1%), from €37,883 to €62,917
of which Trade receivables: +€16,911
- Cash +€9,111
up €9,111 (+98.6%), from €9,245 to €18,356
mainly Net result for the year (+€23,035) and Debts after one year (+€15,158)
- Financial fixed assets -€3,000
down €3,000 (-97.1%), from €3,090 to €90
- Tangible fixed assets -€1,970
down €1,970 (-18.2%), from €10,830 to €8,860
of which Land and buildings: -€1,575
- Reserves +€23,035
up €23,035 (+117%), from €19,649 to €42,684
- Tax, wage and social debts -€21,202
down €21,202 (-68.6%), from €30,910 to €9,708
- Debts after one year +€15,158
new in 2025: €15,158
- Trade debts +€11,015
up €11,015 (+254%), from €4,345 to €15,359
- Current portion of long-term debt +€1,068
new in 2025: €1,068
- Gross operating margin +€31,159
up €31,159 (+368%), from €8,475 to €39,634
- Taxes +€9,144
up €9,144 (+955%), from €958 to €10,102
- Other operating charges -€1,893
down €1,893 (-69.1%), from €2,740 to €847
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 | €61,104 | €90,223 | +€29,119 | +47.7% |
| Fixed assets | 21/28 | €13,920 | €8,950 | -€4,970 | -35.7% |
| Tangible fixed assets | 22/27 | €10,830 | €8,860 | -€1,970 | -18.2% |
| Land and buildings | 22 | €10,435 | €8,860 | -€1,575 | -15.1% |
| Plant, machinery and equipment | 23 | €371 | - | -€371 | |
| Furniture and vehicles | 24 | €24 | - | -€24 | |
| Financial fixed assets | 28 | €3,090 | €90 | -€3,000 | -97.1% |
| Current assets | 29/58 | €47,184 | €81,273 | +€34,090 | +72.2% |
| Amounts receivable within one year | 40/41 | €37,883 | €62,917 | +€25,034 | +66.1% |
| Trade receivables | 40 | €13,322 | €30,233 | +€16,911 | +127% |
| Other amounts receivable | 41 | €24,561 | €32,684 | +€8,123 | +33.1% |
| Cash at bank and in hand | 54/58 | €9,245 | €18,356 | +€9,111 | +98.6% |
| Deferred charges and accrued income | 490/1 | €55 | - | -€55 | |
| Total equity and liabilities | 10/49 | €61,104 | €90,223 | +€29,119 | +47.7% |
| Equity | 10/15 | €25,849 | €48,884 | +€23,035 | +89.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,649 | €42,684 | +€23,035 | +117% |
| Distributable reserves | 133 | €19,649 | €42,684 | +€23,035 | +117% |
| Amounts payable | 17/49 | €35,255 | €41,339 | +€6,084 | +17.3% |
| Amounts payable after more than one year | 17 | - | €15,158 | +€15,158 | |
| Financial debts | 170/4 | - | €15,158 | +€15,158 | |
| Amounts payable within one year | 42/48 | €35,255 | €26,136 | -€9,119 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | - | €1,068 | +€1,068 | |
| Trade debts | 44 | €4,345 | €15,359 | +€11,015 | +254% |
| Suppliers | 440/4 | €4,345 | €15,359 | +€11,015 | +254% |
| Taxes, remuneration and social security | 45 | €30,910 | €9,708 | -€21,202 | -68.6% |
| Taxes | 450/3 | €30,910 | €9,708 | -€21,202 | -68.6% |
| Accrued charges and deferred income | 492/3 | - | €46 | +€46 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,344 | €1,970 | -€373 | -15.9% |
| Other operating charges | 640/8 | €2,740 | €847 | -€1,893 | -69.1% |
| Non-recurring operating charges | 66A | - | €145 | +€145 | |
| Gross operating margin | 9900 | €8,475 | €39,634 | +€31,159 | +368% |
| Operating profit (loss) | 9901 | €3,391 | €36,672 | +€33,281 | +981% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €3,285 | €3,546 | +€261 | +7.9% |
| Recurring financial charges | 65 | €3,285 | €3,546 | +€261 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €106 | €33,137 | +€33,030 | +31,076% |
| Income taxes | 67/77 | €958 | €10,102 | +€9,144 | +955% |
| Profit (loss) for the period | 9904 | -€851 | €23,035 | +€23,886 | |
| Profit (loss) for the period to be appropriated | 9905 | -€851 | €23,035 | +€23,886 |
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 29 October 2026 via checked.be.