VDV 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.
VDV Vastgoed
Largest movements
- Tangible fixed assets -€34,516
down €34,516 (-4.0%), from €869,985 to €835,470
of which Land and buildings: -€34,002
- Debts after one year -€54,591
down €54,591 (-7.9%), from €686,901 to €632,311
- Reserves +€35,016
up €35,016 (+26.7%), from €131,009 to €166,025
- Gross operating margin -€4,537
down €4,537 (-4.2%), from €107,391 to €102,854
- Financial charges -€1,160
down €1,160 (-7.6%), from €15,184 to €14,024
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 | €887,653 | €860,957 | -€26,695 | -3.0% |
| Fixed assets | 21/28 | €871,175 | €836,660 | -€34,516 | -4.0% |
| Tangible fixed assets | 22/27 | €869,985 | €835,470 | -€34,516 | -4.0% |
| Land and buildings | 22 | €869,467 | €835,465 | -€34,002 | -3.9% |
| Plant, machinery and equipment | 23 | €518 | €4 | -€514 | -99.2% |
| Financial fixed assets | 28 | €1,190 | €1,190 | = | 0.0% |
| Current assets | 29/58 | €16,477 | €24,298 | +€7,820 | +47.5% |
| Amounts receivable within one year | 40/41 | €35 | €860 | +€826 | +2,378% |
| Trade receivables | 40 | - | €204 | +€204 | |
| Other amounts receivable | 41 | €35 | €657 | +€622 | +1,791% |
| Cash at bank and in hand | 54/58 | €16,443 | €23,070 | +€6,628 | +40.3% |
| Deferred charges and accrued income | 490/1 | - | €367 | +€367 | |
| Total equity and liabilities | 10/49 | €887,653 | €860,957 | -€26,695 | -3.0% |
| Equity | 10/15 | €137,209 | €172,225 | +€35,016 | +25.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €131,009 | €166,025 | +€35,016 | +26.7% |
| Distributable reserves | 133 | €131,009 | €166,025 | +€35,016 | +26.7% |
| Amounts payable | 17/49 | €750,444 | €688,732 | -€61,711 | -8.2% |
| Amounts payable after more than one year | 17 | €686,901 | €632,311 | -€54,591 | -7.9% |
| Financial debts | 170/4 | €686,901 | €632,311 | -€54,591 | -7.9% |
| Amounts payable within one year | 42/48 | €63,542 | €56,422 | -€7,121 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €61,617 | €54,591 | -€7,026 | -11.4% |
| Trade debts | 44 | €1,364 | €1,831 | +€467 | +34.2% |
| Suppliers | 440/4 | €1,364 | €1,831 | +€467 | +34.2% |
| Taxes, remuneration and social security | 45 | €561 | €0 | -€561 | -100% |
| Taxes | 450/3 | €561 | €0 | -€561 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,013 | €36,072 | +€59 | +0.2% |
| Other operating charges | 640/8 | €5,886 | €6,070 | +€184 | +3.1% |
| Gross operating margin | 9900 | €107,391 | €102,854 | -€4,537 | -4.2% |
| Operating profit (loss) | 9901 | €65,492 | €60,712 | -€4,780 | -7.3% |
| Financial charges | 65/66B | €15,184 | €14,024 | -€1,160 | -7.6% |
| Recurring financial charges | 65 | €15,184 | €14,024 | -€1,160 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €50,308 | €46,688 | -€3,620 | -7.2% |
| Income taxes | 67/77 | €12,561 | €11,672 | -€889 | -7.1% |
| Profit (loss) for the period | 9904 | €37,746 | €35,016 | -€2,730 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,746 | €35,016 | -€2,730 | -7.2% |
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 19 October 2026 via checked.be.