VLAAMS EIGENDOMS BEHEER: what changed
VLAAMS EIGENDOMS BEHEER
Largest movements
- Tangible fixed assets -€592,003
down €592,003 (-56.0%), from €1.1m to €465,150
of which Land and buildings: -€596,014
- Stocks and contracts +€144,306
up €144,306 (+28.6%), from €504,413 to €648,720
- Cash +€88,144
up €88,144 (+2,723%), from €3,237 to €91,382
mainly Investment in fixed assets (net) (+€574,730) and Net result for the year (+€197,677)
- Receivables within one year -€63,604
down €63,604 (-21.5%), from €295,465 to €231,861
of which Other amounts receivable: -€75,440
- Debts after one year -€720,719
down €720,719 (-72.9%), from €989,076 to €268,357
of which Financial debts: -€720,719
- Current portion of long-term debt +€158,123
up €158,123 (+30.2%), from €523,540 to €681,663
- Reserves +€130,977
up €130,977 (+51.4%), from €254,800 to €385,777
of which Distributable reserves: +€130,977
- Tax, wage and social debts +€69,530
new in 2025: €69,530
- Short-term financial debts -€57,852
no longer reported in 2025 (was €57,852)
- Gross operating margin +€195,037
up €195,037 (+79.2%), from €246,215 to €441,252
- Taxes +€49,520
new in 2025: €49,520
- Other operating charges +€40,365
up €40,365 (+68.2%), from €59,206 to €99,572
- Depreciation -€28,181
down €28,181 (-62.0%), from €45,454 to €17,272
- Financial charges -€19,466
down €19,466 (-17.6%), from €110,521 to €91,055
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 | €1,860,268 | €1,437,112 | -€423,156 | -22.7% |
| Fixed assets | 21/28 | €1,057,153 | €465,150 | -€592,003 | -56.0% |
| Tangible fixed assets | 22/27 | €1,057,153 | €465,150 | -€592,003 | -56.0% |
| Land and buildings | 22 | €932,376 | €336,362 | -€596,014 | -63.9% |
| Plant, machinery and equipment | 23 | €12,559 | €1,988 | -€10,571 | -84.2% |
| Furniture and vehicles | 24 | €112,218 | €126,800 | +€14,582 | +13.0% |
| Current assets | 29/58 | €803,115 | €971,962 | +€168,847 | +21.0% |
| Stocks and contracts in progress | 3 | €504,413 | €648,720 | +€144,306 | +28.6% |
| Stocks | 30/36 | €504,413 | €648,720 | +€144,306 | +28.6% |
| Amounts receivable within one year | 40/41 | €295,465 | €231,861 | -€63,604 | -21.5% |
| Trade receivables | 40 | €485 | €12,321 | +€11,836 | +2,442% |
| Other amounts receivable | 41 | €294,980 | €219,540 | -€75,440 | -25.6% |
| Cash at bank and in hand | 54/58 | €3,237 | €91,382 | +€88,144 | +2,723% |
| Total equity and liabilities | 10/49 | €1,860,268 | €1,437,112 | -€423,156 | -22.7% |
| Equity | 10/15 | €284,800 | €415,777 | +€130,977 | +46.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €254,800 | €385,777 | +€130,977 | +51.4% |
| Tax-exempt reserves | 132 | €4,029 | €4,029 | = | 0.0% |
| Distributable reserves | 133 | €250,771 | €381,748 | +€130,977 | +52.2% |
| Amounts payable | 17/49 | €1,575,468 | €1,021,335 | -€554,133 | -35.2% |
| Amounts payable after more than one year | 17 | €989,076 | €268,357 | -€720,719 | -72.9% |
| Financial debts | 170/4 | €988,183 | €267,464 | -€720,719 | -72.9% |
| Other amounts payable | 178/9 | €892 | €892 | = | 0.0% |
| Amounts payable within one year | 42/48 | €586,392 | €752,978 | +€166,586 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €523,540 | €681,663 | +€158,123 | +30.2% |
| Financial debts | 43 | €57,852 | - | -€57,852 | |
| Credit institutions | 430/8 | €57,852 | - | -€57,852 | |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | - | €69,530 | +€69,530 | |
| Taxes | 450/3 | - | €69,530 | +€69,530 | |
| Other amounts payable | 47/48 | - | €1,785 | +€1,785 | |
| Remuneration, social security and pensions | 62 | €216 | - | -€216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,454 | €17,272 | -€28,181 | -62.0% |
| Other operating charges | 640/8 | €59,206 | €99,572 | +€40,365 | +68.2% |
| Gross operating margin | 9900 | €246,215 | €441,252 | +€195,037 | +79.2% |
| Operating profit (loss) | 9901 | €141,339 | €324,408 | +€183,069 | +130% |
| Financial income | 75/76B | €13,364 | €13,844 | +€480 | +3.6% |
| Recurring financial income | 75 | €13,364 | €13,844 | +€480 | +3.6% |
| Financial charges | 65/66B | €110,521 | €91,055 | -€19,466 | -17.6% |
| Recurring financial charges | 65 | €110,521 | €91,055 | -€19,466 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €44,182 | €247,197 | +€203,015 | +459% |
| Transfer from deferred taxes | 780 | €6,261 | - | -€6,261 | |
| Income taxes | 67/77 | - | €49,520 | +€49,520 | |
| Profit (loss) for the period | 9904 | €50,444 | €197,677 | +€147,233 | +292% |
| Transfer from tax-exempt reserves | 789 | €18,784 | - | -€18,784 | |
| Profit (loss) for the period to be appropriated | 9905 | €69,228 | €197,677 | +€128,449 | +186% |
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 2 November 2026 via checked.be.