VERSTRAETEN-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.
VERSTRAETEN-VASTGOED
Largest movements
- Receivables within one year -€86,955
down €86,955 (-60.1%), from €144,692 to €57,737
of which Other amounts receivable: -€92,538
- Cash +€76,732
up €76,732 (+24.8%), from €308,988 to €385,720
mainly Net result for the year (+€152,453) and Receivables within one year (+€86,955)
- Tangible fixed assets -€47,767
down €47,767 (-2.7%), from €1.8m to €1.7m
of which Land and buildings: -€58,015
- Reserves +€152,453
up €152,453 (+11.3%), from €1.4m to €1.5m
of which Distributable reserves: +€161,425
- Debts after one year -€150,427
down €150,427 (-20.4%), from €736,988 to €586,561
- Tax, wage and social debts -€40,152
down €40,152 (-51.7%), from €77,666 to €37,514
of which Taxes: -€28,057
- Gross operating margin -€63,772
down €63,772 (-13.9%), from €457,748 to €393,976
- Other operating charges +€27,057
up €27,057 (+209%), from €12,975 to €40,032
- Taxes +€12,871
up €12,871 (+27.0%), from €47,741 to €60,612
- Financial charges -€11,067
down €11,067 (-29.5%), from €37,481 to €26,414
- Staff costs -€5,233
down €5,233 (-9.9%), from €53,110 to €47,877
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 | €2,414,204 | €2,361,737 | -€52,467 | -2.2% |
| Fixed assets | 21/28 | €1,950,144 | €1,902,377 | -€47,767 | -2.4% |
| Tangible fixed assets | 22/27 | €1,759,056 | €1,711,289 | -€47,767 | -2.7% |
| Land and buildings | 22 | €1,690,901 | €1,632,886 | -€58,015 | -3.4% |
| Plant, machinery and equipment | 23 | €1,994 | €4,142 | +€2,148 | +108% |
| Furniture and vehicles | 24 | €2,844 | €10,944 | +€8,100 | +285% |
| Other tangible fixed assets | 26 | €63,317 | €63,317 | = | 0.0% |
| Financial fixed assets | 28 | €191,088 | €191,088 | = | 0.0% |
| Current assets | 29/58 | €464,060 | €459,360 | -€4,700 | -1.0% |
| Amounts receivable within one year | 40/41 | €144,692 | €57,737 | -€86,955 | -60.1% |
| Trade receivables | 40 | €6,274 | €11,857 | +€5,583 | +89.0% |
| Other amounts receivable | 41 | €138,418 | €45,880 | -€92,538 | -66.9% |
| Cash at bank and in hand | 54/58 | €308,988 | €385,720 | +€76,732 | +24.8% |
| Deferred charges and accrued income | 490/1 | €10,380 | €15,903 | +€5,523 | +53.2% |
| Total equity and liabilities | 10/49 | €2,414,204 | €2,361,737 | -€52,467 | -2.2% |
| Equity | 10/15 | €1,401,816 | €1,552,187 | +€150,371 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €33,008 | €30,926 | -€2,082 | -6.3% |
| Reserves | 13 | €1,350,208 | €1,502,661 | +€152,453 | +11.3% |
| Tax-exempt reserves | 132 | €243,202 | €234,230 | -€8,972 | -3.7% |
| Distributable reserves | 133 | €1,107,006 | €1,268,431 | +€161,425 | +14.6% |
| Provisions and deferred taxes | 16 | €59,067 | €56,077 | -€2,990 | -5.1% |
| Deferred taxes | 168 | €59,067 | €56,077 | -€2,990 | -5.1% |
| Amounts payable | 17/49 | €953,321 | €753,473 | -€199,848 | -21.0% |
| Amounts payable after more than one year | 17 | €736,988 | €586,561 | -€150,427 | -20.4% |
| Financial debts | 170/4 | €736,988 | €586,561 | -€150,427 | -20.4% |
| Amounts payable within one year | 42/48 | €212,573 | €163,218 | -€49,355 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €122,650 | €112,977 | -€9,673 | -7.9% |
| Trade debts | 44 | €10,802 | €10,431 | -€371 | -3.4% |
| Suppliers | 440/4 | €10,802 | €10,431 | -€371 | -3.4% |
| Taxes, remuneration and social security | 45 | €77,666 | €37,514 | -€40,152 | -51.7% |
| Taxes | 450/3 | €60,844 | €32,787 | -€28,057 | -46.1% |
| Remuneration and social security | 454/9 | €16,822 | €4,727 | -€12,095 | -71.9% |
| Other amounts payable | 47/48 | €1,455 | €2,296 | +€841 | +57.8% |
| Accrued charges and deferred income | 492/3 | €3,760 | €3,694 | -€66 | -1.8% |
| Non-recurring operating income | 76A | €145,347 | €236,023 | +€90,676 | +62.4% |
| Remuneration, social security and pensions | 62 | €53,110 | €47,877 | -€5,233 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,109 | €77,689 | -€420 | -0.5% |
| Other operating charges | 640/8 | €12,975 | €40,032 | +€27,057 | +209% |
| Gross operating margin | 9900 | €457,748 | €393,976 | -€63,772 | -13.9% |
| Operating profit (loss) | 9901 | €313,554 | €228,378 | -€85,176 | -27.2% |
| Financial income | 75/76B | €8,764 | €8,111 | -€653 | -7.5% |
| Recurring financial income | 75 | €8,764 | €8,111 | -€653 | -7.5% |
| Financial charges | 65/66B | €37,481 | €26,414 | -€11,067 | -29.5% |
| Recurring financial charges | 65 | €37,481 | €26,414 | -€11,067 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €284,837 | €210,075 | -€74,762 | -26.2% |
| Transfer from deferred taxes | 780 | €3,816 | €2,990 | -€826 | -21.6% |
| Transfer to deferred taxes | 680 | €34,747 | - | -€34,747 | |
| Income taxes | 67/77 | €47,741 | €60,612 | +€12,871 | +27.0% |
| Profit (loss) for the period | 9904 | €206,165 | €152,453 | -€53,712 | -26.1% |
| Transfer from tax-exempt reserves | 789 | €11,447 | €8,972 | -€2,475 | -21.6% |
| Transfer to tax-exempt reserves | 689 | €104,242 | - | -€104,242 | |
| Profit (loss) for the period to be appropriated | 9905 | €113,370 | €161,425 | +€48,055 | +42.4% |
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 31 October 2026 via checked.be.