VDS 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.
VDS Vastgoed
Largest movements
- Receivables after one year +€600,000
new in 2025: €600,000
- Cash -€84,051
down €84,051 (-62.4%), from €134,799 to €50,748
mainly Receivables after one year (-€600,000) and Debts after one year (-€78,074)
- Receivables within one year -€50,132
down €50,132 (-29.6%), from €169,188 to €119,056
of which Trade receivables: -€48,261
- Reserves +€400,000
up €400,000 (+611%), from €65,463 to €465,463
- Profit (loss) carried forward +€205,472
up €205,472 (+64.8%), from €317,103 to €522,575
- Debts after one year -€78,074
down €78,074 (-9.5%), from €821,420 to €743,346
- Trade debts -€75,208
down €75,208 (-96.4%), from €78,002 to €2,794
- Other debts -€39,479
down €39,479 (-56.1%), from €70,322 to €30,843
- Gross operating margin +€758,496
up €758,496 (+434%), from €174,865 to €933,361
- Taxes +€234,722
up €234,722 (+1,077%), from €21,785 to €256,507
- Financial income +€16,422
up €16,422 (+20,054%), from €82 to €16,504
- Staff costs +€9,907
up €9,907 (+177%), from €5,604 to €15,511
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 | €1,506,749 | €1,977,871 | +€471,122 | +31.3% |
| Fixed assets | 21/28 | €1,199,311 | €1,192,182 | -€7,128 | -0.6% |
| Intangible fixed assets | 21 | €10,615 | - | -€10,615 | |
| Tangible fixed assets | 22/27 | €1,188,695 | €1,188,182 | -€513 | 0.0% |
| Land and buildings | 22 | €1,165,504 | €1,188,182 | +€22,678 | +1.9% |
| Plant, machinery and equipment | 23 | €282 | - | -€282 | |
| Furniture and vehicles | 24 | €22,909 | - | -€22,909 | |
| Financial fixed assets | 28 | - | €4,000 | +€4,000 | |
| Current assets | 29/58 | €307,439 | €785,689 | +€478,250 | +156% |
| Amounts receivable after more than one year | 29 | - | €600,000 | +€600,000 | |
| Other amounts receivable | 291 | - | €600,000 | +€600,000 | |
| Amounts receivable within one year | 40/41 | €169,188 | €119,056 | -€50,132 | -29.6% |
| Trade receivables | 40 | €162,861 | €114,600 | -€48,261 | -29.6% |
| Other amounts receivable | 41 | €6,327 | €4,456 | -€1,871 | -29.6% |
| Cash at bank and in hand | 54/58 | €134,799 | €50,748 | -€84,051 | -62.4% |
| Deferred charges and accrued income | 490/1 | €3,452 | €15,885 | +€12,433 | +360% |
| Total equity and liabilities | 10/49 | €1,506,749 | €1,977,871 | +€471,122 | +31.3% |
| Equity | 10/15 | €456,934 | €1,062,406 | +€605,472 | +133% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €65,463 | €465,463 | +€400,000 | +611% |
| Distributable reserves | 133 | €65,463 | €465,463 | +€400,000 | +611% |
| Profit (loss) carried forward | 14 | €317,103 | €522,575 | +€205,472 | +64.8% |
| Amounts payable | 17/49 | €1,049,815 | €915,466 | -€134,350 | -12.8% |
| Amounts payable after more than one year | 17 | €821,420 | €743,346 | -€78,074 | -9.5% |
| Financial debts | 170/4 | €821,420 | €743,346 | -€78,074 | -9.5% |
| Amounts payable within one year | 42/48 | €221,311 | €169,105 | -€52,207 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €59,275 | €86,685 | +€27,410 | +46.2% |
| Trade debts | 44 | €78,002 | €2,794 | -€75,208 | -96.4% |
| Suppliers | 440/4 | €78,002 | €2,794 | -€75,208 | -96.4% |
| Taxes, remuneration and social security | 45 | €13,712 | €48,783 | +€35,071 | +256% |
| Taxes | 450/3 | €11,429 | €47,283 | +€35,854 | +314% |
| Remuneration and social security | 454/9 | €2,283 | €1,500 | -€783 | -34.3% |
| Other amounts payable | 47/48 | €70,322 | €30,843 | -€39,479 | -56.1% |
| Accrued charges and deferred income | 492/3 | €7,084 | €3,015 | -€4,069 | -57.4% |
| Non-recurring operating income | 76A | - | €766,193 | +€766,193 | |
| Remuneration, social security and pensions | 62 | €5,604 | €15,511 | +€9,907 | +177% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,515 | €39,707 | -€1,809 | -4.4% |
| Other operating charges | 640/8 | €5,724 | €7,569 | +€1,845 | +32.2% |
| Gross operating margin | 9900 | €174,865 | €933,361 | +€758,496 | +434% |
| Operating profit (loss) | 9901 | €122,022 | €870,574 | +€748,553 | +613% |
| Financial income | 75/76B | €82 | €16,504 | +€16,422 | +20,054% |
| Recurring financial income | 75 | €82 | €16,504 | +€16,422 | +20,054% |
| Financial charges | 65/66B | €23,288 | €25,100 | +€1,812 | +7.8% |
| Recurring financial charges | 65 | €23,288 | €25,100 | +€1,812 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €98,815 | €861,979 | +€763,163 | +772% |
| Income taxes | 67/77 | €21,785 | €256,507 | +€234,722 | +1,077% |
| Profit (loss) for the period | 9904 | €77,031 | €605,472 | +€528,441 | +686% |
| Profit (loss) for the period to be appropriated | 9905 | €77,031 | €605,472 | +€528,441 | +686% |
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 30 October 2026 via checked.be.