VGS VASTGOED: what changed
What changed
VGS VASTGOED
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€16,760
2024 · €15,620+€1,140
Equity
€29,036
2024 · €29,036
Cash
€17,524
2024 · €8,071+€9,454
Balance sheet total
€282,560
2024 · €277,128+€5,432
Largest movements
Assets
- Cash +€9,454
up €9,454 (+117%), from €8,071 to €17,524
mainly Net result for the year (+€16,760) and Other debts (+€16,181)
- Tangible fixed assets -€5,408
down €5,408 (-2.1%), from €258,651 to €253,243
of which Land and buildings: -€6,864
Equity and liabilities
- Other debts +€16,181
up €16,181 (+167%), from €9,674 to €25,855
- Debts after one year -€11,752
down €11,752 (-5.3%), from €221,760 to €210,008
of which Financial debts: -€11,752
Income statement
- Taxes -€2,078
down €2,078 (-27.9%), from €7,450 to €5,372
- Gross operating margin -€1,775
down €1,775 (-4.4%), from €40,081 to €38,306
- Financial charges -€485
down €485 (-5.7%), from €8,516 to €8,031
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
€15,620
Gross operating margin
-€1,775
Depreciation
+€288
Other operating charges
+€64
Financial charges
+€485
Taxes
+€2,078
Result 2025
€16,760
raises the resultlowers the result
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
+€40,295
Investment
-€2,672
Financing
-€28,170
Cash 2024
€8,071
From operations (derived)
+€40,295
Net result for the year
+€16,760
Depreciation
+€8,080
Receivables within one year
-€1,340
Deferred charges and accrued income
-€46
Trade debts
-€466
Tax, wage and social debts
+€1,127
Other debts
+€16,181
Investment (derived)
-€2,672
Investment in fixed assets (net)
-€2,672
Financing
-€28,170
Debts after one year
-€11,752
Current portion of long-term debt
+€342
Contributions, distributions and other
-€16,760
Cash 2025
€17,524
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €277,128 | €282,560 | +€5,432 | +2.0% |
| Fixed assets | 21/28 | €258,651 | €253,243 | -€5,408 | -2.1% |
| Tangible fixed assets | 22/27 | €258,651 | €253,243 | -€5,408 | -2.1% |
| Land and buildings | 22 | €251,300 | €244,436 | -€6,864 | -2.7% |
| Plant, machinery and equipment | 23 | €1,197 | €442 | -€755 | -63.1% |
| Furniture and vehicles | 24 | €1,639 | €2,225 | +€586 | +35.8% |
| Other tangible fixed assets | 26 | €4,515 | €6,140 | +€1,625 | +36.0% |
| Current assets | 29/58 | €18,477 | €29,317 | +€10,840 | +58.7% |
| Amounts receivable within one year | 40/41 | €9,554 | €10,894 | +€1,340 | +14.0% |
| Trade receivables | 40 | €9,000 | €10,890 | +€1,890 | +21.0% |
| Other amounts receivable | 41 | €554 | €4 | -€550 | -99.2% |
| Cash at bank and in hand | 54/58 | €8,071 | €17,524 | +€9,454 | +117% |
| Deferred charges and accrued income | 490/1 | €852 | €898 | +€46 | +5.4% |
| Total equity and liabilities | 10/49 | €277,128 | €282,560 | +€5,432 | +2.0% |
| Equity | 10/15 | €29,036 | €29,036 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €28,036 | €28,036 | = | 0.0% |
| Distributable reserves | 133 | €28,036 | €28,036 | = | 0.0% |
| Amounts payable | 17/49 | €248,092 | €253,524 | +€5,432 | +2.2% |
| Amounts payable after more than one year | 17 | €221,760 | €210,008 | -€11,752 | -5.3% |
| Financial debts | 170/4 | €166,773 | €155,020 | -€11,752 | -7.0% |
| Other amounts payable | 178/9 | €54,988 | €54,988 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,332 | €43,516 | +€17,184 | +65.3% |
| Current portion of amounts payable after more than one year | 42 | €11,410 | €11,752 | +€342 | +3.0% |
| Trade debts | 44 | €4,500 | €4,034 | -€466 | -10.4% |
| Suppliers | 440/4 | €4,500 | €4,034 | -€466 | -10.4% |
| Taxes, remuneration and social security | 45 | €748 | €1,875 | +€1,127 | +151% |
| Taxes | 450/3 | €748 | €1,875 | +€1,127 | +151% |
| Other amounts payable | 47/48 | €9,674 | €25,855 | +€16,181 | +167% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,368 | €8,080 | -€288 | -3.4% |
| Other operating charges | 640/8 | €127 | €63 | -€64 | -50.7% |
| Gross operating margin | 9900 | €40,081 | €38,306 | -€1,775 | -4.4% |
| Operating profit (loss) | 9901 | €31,586 | €30,163 | -€1,423 | -4.5% |
| Financial charges | 65/66B | €8,516 | €8,031 | -€485 | -5.7% |
| Recurring financial charges | 65 | €8,516 | €8,031 | -€485 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €23,070 | €22,132 | -€938 | -4.1% |
| Income taxes | 67/77 | €7,450 | €5,372 | -€2,078 | -27.9% |
| Profit (loss) for the period | 9904 | €15,620 | €16,760 | +€1,140 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,620 | €16,760 | +€1,140 | +7.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.