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
- Cash -€132,886
down €132,886 (-45.8%), from €290,316 to €157,429
mainly Other debts (-€247,818) and Investment in fixed assets (net) (-€11,397)
- Tangible fixed assets -€28,910
down €28,910 (-4.9%), from €595,845 to €566,935
of which Land and buildings: -€26,206
- Other debts -€247,818
down €247,818 (-96.1%), from €257,901 to €10,084
- Reserves +€58,228
up €58,228 (+16.0%), from €364,338 to €422,566
of which Distributable reserves: +€58,228
- Accrued charges and deferred income +€11,889
up €11,889 (+128%), from €9,288 to €21,177
- Gross operating margin +€46,183
up €46,183 (+50.0%), from €92,292 to €138,475
- Depreciation +€12,250
up €12,250 (+43.7%), from €28,057 to €40,307
- Taxes +€8,594
up €8,594 (+76.1%), from €11,297 to €19,891
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 | €914,862 | €739,628 | -€175,233 | -19.2% |
| Fixed assets | 21/28 | €595,845 | €566,935 | -€28,910 | -4.9% |
| Tangible fixed assets | 22/27 | €595,845 | €566,935 | -€28,910 | -4.9% |
| Land and buildings | 22 | €590,585 | €564,379 | -€26,206 | -4.4% |
| Plant, machinery and equipment | 23 | €3,353 | €2,398 | -€955 | -28.5% |
| Furniture and vehicles | 24 | €1,906 | €157 | -€1,749 | -91.8% |
| Current assets | 29/58 | €319,017 | €172,694 | -€146,323 | -45.9% |
| Amounts receivable within one year | 40/41 | €19,924 | €12,197 | -€7,727 | -38.8% |
| Trade receivables | 40 | €7,727 | €0 | -€7,727 | -100% |
| Other amounts receivable | 41 | €12,197 | €12,197 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €290,316 | €157,429 | -€132,886 | -45.8% |
| Deferred charges and accrued income | 490/1 | €8,777 | €3,068 | -€5,710 | -65.1% |
| Total equity and liabilities | 10/49 | €914,862 | €739,628 | -€175,233 | -19.2% |
| Equity | 10/15 | €438,838 | €497,066 | +€58,228 | +13.3% |
| Contributions | 10/11 | €74,500 | €74,500 | = | 0.0% |
| Capital | 10 | €74,500 | €74,500 | = | 0.0% |
| Issued capital | 100 | €74,500 | €74,500 | = | 0.0% |
| Reserves | 13 | €364,338 | €422,566 | +€58,228 | +16.0% |
| Non-distributable reserves | 130/1 | €7,450 | €7,450 | = | 0.0% |
| Legal reserve | 130 | €7,450 | €7,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €452 | €452 | = | 0.0% |
| Distributable reserves | 133 | €356,436 | €414,665 | +€58,228 | +16.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €476,024 | €242,562 | -€233,462 | -49.0% |
| Amounts payable after more than one year | 17 | €190,000 | €190,000 | = | 0.0% |
| Financial debts | 170/4 | €190,000 | €190,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €276,735 | €31,385 | -€245,351 | -88.7% |
| Trade debts | 44 | €18,834 | €15,808 | -€3,026 | -16.1% |
| Suppliers | 440/4 | €18,834 | €15,808 | -€3,026 | -16.1% |
| Taxes, remuneration and social security | 45 | €0 | €5,493 | +€5,493 | |
| Taxes | 450/3 | €0 | €5,493 | +€5,493 | |
| Other amounts payable | 47/48 | €257,901 | €10,084 | -€247,818 | -96.1% |
| Accrued charges and deferred income | 492/3 | €9,288 | €21,177 | +€11,889 | +128% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,057 | €40,307 | +€12,250 | +43.7% |
| Other operating charges | 640/8 | €20,144 | €21,372 | +€1,229 | +6.1% |
| Gross operating margin | 9900 | €92,292 | €138,475 | +€46,183 | +50.0% |
| Operating profit (loss) | 9901 | €44,091 | €76,796 | +€32,705 | +74.2% |
| Financial income | 75/76B | €1,100 | €1,327 | +€227 | +20.6% |
| Recurring financial income | 75 | €1,100 | €1,327 | +€227 | +20.6% |
| Financial charges | 65/66B | €3 | €3 | +€1 | +25.3% |
| Recurring financial charges | 65 | €3 | €3 | +€1 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €45,189 | €78,120 | +€32,931 | +72.9% |
| Income taxes | 67/77 | €11,297 | €19,891 | +€8,594 | +76.1% |
| Profit (loss) for the period | 9904 | €33,892 | €58,228 | +€24,337 | +71.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,892 | €58,228 | +€24,337 | +71.8% |
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 22 October 2026 via checked.be.