VG 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.
VG VASTGOED
Largest movements
- Receivables within one year -€273,652
down €273,652 (-92.7%), from €295,069 to €21,417
of which Trade receivables: -€265,582
- Cash +€145,726
up €145,726 (+95.7%), from €152,330 to €298,056
mainly Receivables within one year (+€273,652) and Depreciation (+€35,895)
- Tangible fixed assets -€25,642
down €25,642 (-17.1%), from €150,144 to €124,502
of which Furniture and vehicles: -€15,776
- Reserves -€83,101
down €83,101 (-18.8%), from €441,805 to €358,705
- Trade debts -€38,541
down €38,541 (-91.3%), from €42,196 to €3,655
- Other debts -€19,042
down €19,042 (-39.5%), from €48,263 to €29,220
- Debts after one year -€17,817
down €17,817 (-70.6%), from €25,241 to €7,424
- Gross operating margin -€124,938
down €124,938 (-58.9%), from €212,095 to €87,157
- Taxes -€36,164
down €36,164 (-89.6%), from €40,360 to €4,196
- Depreciation +€5,474
up €5,474 (+18.0%), from €30,421 to €35,895
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 | €599,812 | €445,120 | -€154,693 | -25.8% |
| Fixed assets | 21/28 | €150,144 | €124,502 | -€25,642 | -17.1% |
| Tangible fixed assets | 22/27 | €150,144 | €124,502 | -€25,642 | -17.1% |
| Plant, machinery and equipment | 23 | €9,892 | €6,051 | -€3,841 | -38.8% |
| Furniture and vehicles | 24 | €67,309 | €51,533 | -€15,776 | -23.4% |
| Other tangible fixed assets | 26 | €72,942 | €66,917 | -€6,025 | -8.3% |
| Current assets | 29/58 | €449,668 | €320,618 | -€129,050 | -28.7% |
| Amounts receivable within one year | 40/41 | €295,069 | €21,417 | -€273,652 | -92.7% |
| Trade receivables | 40 | €265,582 | - | -€265,582 | |
| Other amounts receivable | 41 | €29,487 | €21,417 | -€8,070 | -27.4% |
| Cash at bank and in hand | 54/58 | €152,330 | €298,056 | +€145,726 | +95.7% |
| Deferred charges and accrued income | 490/1 | €2,269 | €1,145 | -€1,124 | -49.5% |
| Total equity and liabilities | 10/49 | €599,812 | €445,120 | -€154,693 | -25.8% |
| Equity | 10/15 | €460,405 | €377,305 | -€83,101 | -18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €441,805 | €358,705 | -€83,101 | -18.8% |
| Distributable reserves | 133 | €441,805 | €358,705 | -€83,101 | -18.8% |
| Amounts payable | 17/49 | €139,407 | €67,815 | -€71,592 | -51.4% |
| Amounts payable after more than one year | 17 | €25,241 | €7,424 | -€17,817 | -70.6% |
| Financial debts | 170/4 | €25,241 | €7,424 | -€17,817 | -70.6% |
| Amounts payable within one year | 42/48 | €114,166 | €60,391 | -€53,775 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €17,817 | €17,817 | = | 0.0% |
| Trade debts | 44 | €42,196 | €3,655 | -€38,541 | -91.3% |
| Suppliers | 440/4 | €42,196 | €3,655 | -€38,541 | -91.3% |
| Taxes, remuneration and social security | 45 | €5,890 | €9,698 | +€3,808 | +64.7% |
| Taxes | 450/3 | - | €3,808 | +€3,808 | |
| Remuneration and social security | 454/9 | €5,890 | €5,890 | = | 0.0% |
| Other amounts payable | 47/48 | €48,263 | €29,220 | -€19,042 | -39.5% |
| Remuneration, social security and pensions | 62 | €42,081 | €40,786 | -€1,295 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,421 | €35,895 | +€5,474 | +18.0% |
| Other operating charges | 640/8 | €1,272 | €1,181 | -€91 | -7.2% |
| Gross operating margin | 9900 | €212,095 | €87,157 | -€124,938 | -58.9% |
| Operating profit (loss) | 9901 | €138,321 | €9,295 | -€129,026 | -93.3% |
| Financial income | 75/76B | €1,163 | €1,293 | +€130 | +11.2% |
| Recurring financial income | 75 | €1,163 | €1,293 | +€130 | +11.2% |
| Financial charges | 65/66B | €1,478 | €1,493 | +€15 | +1.0% |
| Recurring financial charges | 65 | €1,478 | €1,493 | +€15 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €138,006 | €9,095 | -€128,911 | -93.4% |
| Income taxes | 67/77 | €40,360 | €4,196 | -€36,164 | -89.6% |
| Profit (loss) for the period | 9904 | €97,646 | €4,899 | -€92,747 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,646 | €4,899 | -€92,747 | -95.0% |
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 29 October 2026 via checked.be.