VITRUVIUS VASTGOED: what changed
VITRUVIUS VASTGOED
Largest movements
- Current investments +€1.2m
up €1.2m (+39.8%), from €3.0m to €4.2m
- Receivables after one year -€1.0m
no longer reported in 2025 (was €1.0m)
- Receivables within one year +€217,126
up €217,126 (+292%), from €74,426 to €291,552
of which Trade receivables: +€248,728
- Cash -€203,511
down €203,511 (-58.9%), from €345,467 to €141,956
mainly Current investments (-€1.2m) and Receivables within one year (-€217,126)
- Stocks and contracts +€62,660
up €62,660 (+11.5%), from €545,807 to €608,467
of which Stocks: +€62,660
- Reserves +€308,158
up €308,158 (+6.3%), from €4.9m to €5.2m
of which Distributable reserves: +€308,158
- Other debts -€100,000
no longer reported in 2025 (was €100,000)
- Tax, wage and social debts +€75,649
up €75,649 (+1,695%), from €4,463 to €80,112
- Gross operating margin +€113,542
up €113,542 (+41.8%), from €271,375 to €384,917
- Financial income -€58,915
down €58,915 (-42.2%), from €139,696 to €80,781
- Taxes +€15,252
up €15,252 (+12.5%), from €122,390 to €137,642
- Depreciation +€4,092
up €4,092 (+35.1%), from €11,653 to €15,745
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,045,440 | €5,300,545 | +€255,105 | +5.1% |
| Fixed assets | 21/28 | €79,740 | €63,996 | -€15,744 | -19.7% |
| Tangible fixed assets | 22/27 | €79,740 | €63,996 | -€15,744 | -19.7% |
| Furniture and vehicles | 24 | €79,740 | €63,996 | -€15,744 | -19.7% |
| Current assets | 29/58 | €4,965,700 | €5,236,549 | +€270,849 | +5.5% |
| Amounts receivable after more than one year | 29 | €1,000,000 | - | -€1.0m | |
| Other amounts receivable | 291 | €1,000,000 | - | -€1.0m | |
| Stocks and contracts in progress | 3 | €545,807 | €608,467 | +€62,660 | +11.5% |
| Stocks | 30/36 | €516,482 | €579,142 | +€62,660 | +12.1% |
| Contracts in progress | 37 | €29,325 | €29,325 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €74,426 | €291,552 | +€217,126 | +292% |
| Trade receivables | 40 | €32,428 | €281,156 | +€248,728 | +767% |
| Other amounts receivable | 41 | €41,998 | €10,396 | -€31,602 | -75.2% |
| Current investments | 50/53 | €3,000,000 | €4,194,574 | +€1.2m | +39.8% |
| Cash at bank and in hand | 54/58 | €345,467 | €141,956 | -€203,511 | -58.9% |
| Total equity and liabilities | 10/49 | €5,045,440 | €5,300,545 | +€255,105 | +5.1% |
| Equity | 10/15 | €4,871,865 | €5,180,023 | +€308,158 | +6.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,859,465 | €5,167,623 | +€308,158 | +6.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,857,605 | €5,165,763 | +€308,158 | +6.3% |
| Amounts payable | 17/49 | €173,575 | €120,522 | -€53,053 | -30.6% |
| Amounts payable within one year | 42/48 | €173,575 | €120,522 | -€53,053 | -30.6% |
| Trade debts | 44 | €69,112 | €40,410 | -€28,702 | -41.5% |
| Suppliers | 440/4 | €69,112 | €40,410 | -€28,702 | -41.5% |
| Taxes, remuneration and social security | 45 | €4,463 | €80,112 | +€75,649 | +1,695% |
| Taxes | 450/3 | €4,463 | €80,112 | +€75,649 | +1,695% |
| Other amounts payable | 47/48 | €100,000 | - | -€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,653 | €15,745 | +€4,092 | +35.1% |
| Other operating charges | 640/8 | €1,611 | €1,366 | -€245 | -15.2% |
| Gross operating margin | 9900 | €271,375 | €384,917 | +€113,542 | +41.8% |
| Operating profit (loss) | 9901 | €258,111 | €367,806 | +€109,695 | +42.5% |
| Financial income | 75/76B | €139,696 | €80,781 | -€58,915 | -42.2% |
| Recurring financial income | 75 | €139,696 | €80,781 | -€58,915 | -42.2% |
| Financial charges | 65/66B | €810 | €2,787 | +€1,977 | +244% |
| Recurring financial charges | 65 | €810 | €2,787 | +€1,977 | +244% |
| Profit (loss) for the period before taxes | 9903 | €396,997 | €445,800 | +€48,803 | +12.3% |
| Income taxes | 67/77 | €122,390 | €137,642 | +€15,252 | +12.5% |
| Profit (loss) for the period | 9904 | €274,607 | €308,158 | +€33,551 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €274,607 | €308,158 | +€33,551 | +12.2% |
Next steps
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 7 November 2026 via checked.be.