VEKAMAT NEW: what changed
What changed
VEKAMAT NEW
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€632,524
2024 · €125,826+€506,697
Equity
€2.1m
2024 · €1.5m+€632,524
Cash
€844,231
2024 · €166,199+€678,032
Balance sheet total
€3.8m
2024 · €2.8m+€962,422
Largest movements
Assets
- Cash +€678,032
up €678,032 (+408%), from €166,199 to €844,231
mainly Net result for the year (+€632,524) and Investment in fixed assets (net) (+€232,769)
- Stocks and contracts +€526,937
new in 2025: €526,937
- Tangible fixed assets -€340,180
down €340,180 (-12.9%), from €2.6m to €2.3m
of which Land and buildings: -€332,925
- Receivables within one year +€102,241
up €102,241 (+732%), from €13,967 to €116,208
of which Trade receivables: +€65,818
Equity and liabilities
- Reserves +€497,560
up €497,560 (+58.0%), from €857,240 to €1.4m
of which Tax-exempt reserves: +€497,560
- Debts after one year +€215,071
up €215,071 (+30.9%), from €696,665 to €911,737
of which Financial debts: +€215,071
- Provisions +€162,209
up €162,209 (+48.3%), from €336,059 to €498,268
- Profit (loss) carried forward +€134,964
up €134,964 (+24.8%), from €543,334 to €678,297
Income statement
- Gross operating margin +€619,173
up €619,173 (+169%), from €366,078 to €985,251
- Other operating charges -€15,450
down €15,450 (-32.6%), from €47,425 to €31,975
- Depreciation -€12,106
down €12,106 (-9.9%), from €122,117 to €110,011
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€125,826
Gross operating margin
+€619,173
Depreciation
+€12,106
Other operating charges
+€15,450
Other operating items
+€13,279
Financial income
-€188
Financial charges
-€720
Taxes
+€8,928
Deferred taxes and other
-€161,331
Result 2025
€632,524
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€253,421
Investment
+€232,769
Financing
+€191,842
Cash 2024
€166,199
From operations (derived)
+€253,421
Net result for the year
+€632,524
Depreciation
+€110,011
Stocks and contracts
-€526,937
Receivables within one year
-€102,241
Deferred charges and accrued income
+€2,008
Provisions
+€162,209
Trade debts
-€11,280
Smaller working-capital items
-€2,073
Other debts
-€10,800
Investment (derived)
+€232,769
Investment in fixed assets (net)
+€232,769
Financing
+€191,842
Debts after one year
+€215,071
Current portion of long-term debt
-€23,230
Cash 2025
€844,231
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,837,098 | €3,799,520 | +€962,422 | +33.9% |
| Fixed assets | 21/28 | €2,648,656 | €2,305,876 | -€342,780 | -12.9% |
| Tangible fixed assets | 22/27 | €2,630,241 | €2,290,061 | -€340,180 | -12.9% |
| Land and buildings | 22 | €2,586,679 | €2,253,754 | -€332,925 | -12.9% |
| Plant, machinery and equipment | 23 | €17,441 | €17,152 | -€289 | -1.7% |
| Furniture and vehicles | 24 | €26,121 | €19,154 | -€6,966 | -26.7% |
| Financial fixed assets | 28 | €18,415 | €15,815 | -€2,600 | -14.1% |
| Current assets | 29/58 | €188,442 | €1,493,644 | +€1.3m | +693% |
| Stocks and contracts in progress | 3 | - | €526,937 | +€526,937 | |
| Stocks | 30/36 | - | €526,937 | +€526,937 | |
| Amounts receivable within one year | 40/41 | €13,967 | €116,208 | +€102,241 | +732% |
| Trade receivables | 40 | €12,467 | €78,285 | +€65,818 | +528% |
| Other amounts receivable | 41 | €1,500 | €37,924 | +€36,424 | +2,428% |
| Cash at bank and in hand | 54/58 | €166,199 | €844,231 | +€678,032 | +408% |
| Deferred charges and accrued income | 490/1 | €8,276 | €6,268 | -€2,008 | -24.3% |
| Total equity and liabilities | 10/49 | €2,837,098 | €3,799,520 | +€962,422 | +33.9% |
| Equity | 10/15 | €1,474,766 | €2,107,290 | +€632,524 | +42.9% |
| Contributions | 10/11 | €74,192 | €74,192 | = | 0.0% |
| Reserves | 13 | €857,240 | €1,354,800 | +€497,560 | +58.0% |
| Tax-exempt reserves | 132 | €795,326 | €1,292,886 | +€497,560 | +62.6% |
| Distributable reserves | 133 | €61,915 | €61,915 | = | 0.0% |
| Profit (loss) carried forward | 14 | €543,334 | €678,297 | +€134,964 | +24.8% |
| Provisions and deferred taxes | 16 | €336,059 | €498,268 | +€162,209 | +48.3% |
| Deferred taxes | 168 | €336,059 | €498,268 | +€162,209 | +48.3% |
| Amounts payable | 17/49 | €1,026,273 | €1,193,961 | +€167,689 | +16.3% |
| Amounts payable after more than one year | 17 | €696,665 | €911,737 | +€215,071 | +30.9% |
| Financial debts | 170/4 | €612,087 | €827,159 | +€215,071 | +35.1% |
| Other amounts payable | 178/9 | €84,578 | €84,578 | = | 0.0% |
| Amounts payable within one year | 42/48 | €328,864 | €282,225 | -€46,639 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €57,311 | €34,081 | -€23,230 | -40.5% |
| Trade debts | 44 | €55,200 | €43,920 | -€11,280 | -20.4% |
| Suppliers | 440/4 | €55,200 | €43,920 | -€11,280 | -20.4% |
| Taxes, remuneration and social security | 45 | €56,386 | €55,057 | -€1,330 | -2.4% |
| Taxes | 450/3 | €56,386 | €55,057 | -€1,330 | -2.4% |
| Other amounts payable | 47/48 | €159,967 | €149,167 | -€10,800 | -6.8% |
| Accrued charges and deferred income | 492/3 | €744 | - | -€744 | |
| Non-recurring operating income | 76A | €120,202 | - | -€120,202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,117 | €110,011 | -€12,106 | -9.9% |
| Other operating charges | 640/8 | €47,425 | €31,975 | -€15,450 | -32.6% |
| Non-recurring operating charges | 66A | €13,279 | - | -€13,279 | |
| Gross operating margin | 9900 | €366,078 | €985,251 | +€619,173 | +169% |
| Operating profit (loss) | 9901 | €183,258 | €843,265 | +€660,008 | +360% |
| Financial income | 75/76B | €226 | €38 | -€188 | -83.1% |
| Recurring financial income | 75 | €226 | €38 | -€188 | -83.1% |
| Financial charges | 65/66B | €20,774 | €21,494 | +€720 | +3.5% |
| Recurring financial charges | 65 | €20,774 | €21,494 | +€720 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €162,709 | €821,810 | +€659,100 | +405% |
| Transfer from deferred taxes | 780 | €29,172 | €42,053 | +€12,881 | +44.2% |
| Transfer to deferred taxes | 680 | €30,051 | €204,262 | +€174,211 | +580% |
| Income taxes | 67/77 | €36,004 | €27,077 | -€8,928 | -24.8% |
| Profit (loss) for the period | 9904 | €125,826 | €632,524 | +€506,697 | +403% |
| Transfer from tax-exempt reserves | 789 | €83,835 | €115,226 | +€31,391 | +37.4% |
| Transfer to tax-exempt reserves | 689 | €90,152 | €612,786 | +€522,634 | +580% |
| Profit (loss) for the period to be appropriated | 9905 | €119,510 | €134,964 | +€15,454 | +12.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.