VF 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.
VF VASTGOED
Largest movements
- Tangible fixed assets -€44,447
down €44,447 (-11.2%), from €397,842 to €353,395
- Receivables within one year +€23,582
up €23,582 (+83.2%), from €28,328 to €51,910
of which Trade receivables: +€23,582
- Debts after one year -€100,689
down €100,689 (-30.0%), from €335,618 to €234,930
- Other debts +€55,313
up €55,313 (+29.8%), from €185,596 to €240,910
- Reserves +€13,077
up €13,077 (+5.7%), from €227,736 to €240,814
of which Distributable reserves: +€13,077
- Trade debts +€11,399
up €11,399 (+87.3%), from €13,051 to €24,450
- Financial charges +€11,055
up €11,055 (+60.7%), from €18,211 to €29,266
- Gross operating margin -€5,566
down €5,566 (-4.8%), from €115,422 to €109,856
- Taxes -€4,781
down €4,781 (-50.1%), from €9,541 to €4,760
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 | €974,870 | €951,545 | -€23,325 | -2.4% |
| Fixed assets | 21/28 | €398,342 | €353,895 | -€44,447 | -11.2% |
| Tangible fixed assets | 22/27 | €397,842 | €353,395 | -€44,447 | -11.2% |
| Land and buildings | 22 | €397,842 | €353,395 | -€44,447 | -11.2% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €576,528 | €597,650 | +€21,122 | +3.7% |
| Stocks and contracts in progress | 3 | €535,567 | €535,567 | = | 0.0% |
| Stocks | 30/36 | €535,567 | €535,567 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,328 | €51,910 | +€23,582 | +83.2% |
| Trade receivables | 40 | €28,320 | €51,902 | +€23,582 | +83.3% |
| Other amounts receivable | 41 | €8 | €8 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,358 | €6,866 | -€2,492 | -26.6% |
| Deferred charges and accrued income | 490/1 | €3,275 | €3,307 | +€32 | +1.0% |
| Total equity and liabilities | 10/49 | €974,870 | €951,545 | -€23,325 | -2.4% |
| Equity | 10/15 | €248,736 | €261,814 | +€13,077 | +5.3% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €227,736 | €240,814 | +€13,077 | +5.7% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €282 | €282 | = | 0.0% |
| Distributable reserves | 133 | €225,354 | €238,432 | +€13,077 | +5.8% |
| Provisions and deferred taxes | 16 | €50,000 | €50,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €50,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €676,134 | €639,731 | -€36,402 | -5.4% |
| Amounts payable after more than one year | 17 | €335,618 | €234,930 | -€100,689 | -30.0% |
| Financial debts | 170/4 | €335,618 | €234,930 | -€100,689 | -30.0% |
| Amounts payable within one year | 42/48 | €329,428 | €391,643 | +€62,214 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €96,947 | €100,689 | +€3,742 | +3.9% |
| Trade debts | 44 | €13,051 | €24,450 | +€11,399 | +87.3% |
| Suppliers | 440/4 | €13,051 | €24,450 | +€11,399 | +87.3% |
| Taxes, remuneration and social security | 45 | €33,834 | €25,595 | -€8,240 | -24.4% |
| Taxes | 450/3 | €33,834 | €25,595 | -€8,240 | -24.4% |
| Other amounts payable | 47/48 | €185,596 | €240,910 | +€55,313 | +29.8% |
| Accrued charges and deferred income | 492/3 | €11,087 | €13,159 | +€2,072 | +18.7% |
| Non-recurring operating income | 76A | €4,895 | €0 | -€4,895 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,447 | €44,447 | = | 0.0% |
| Other operating charges | 640/8 | €17,850 | €18,306 | +€456 | +2.6% |
| Gross operating margin | 9900 | €115,422 | €109,856 | -€5,566 | -4.8% |
| Operating profit (loss) | 9901 | €53,125 | €47,103 | -€6,022 | -11.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €18,211 | €29,266 | +€11,055 | +60.7% |
| Recurring financial charges | 65 | €18,211 | €29,266 | +€11,055 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €34,914 | €17,838 | -€17,076 | -48.9% |
| Income taxes | 67/77 | €9,541 | €4,760 | -€4,781 | -50.1% |
| Profit (loss) for the period | 9904 | €25,373 | €13,077 | -€12,295 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,373 | €13,077 | -€12,295 | -48.5% |
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 28 October 2026 via checked.be.