VRK 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.
VRK Vastgoed
Largest movements
- Stocks and contracts +€725,976
up €725,976 (+50.5%), from €1.4m to €2.2m
- Cash -€112,177
down €112,177 (-84.5%), from €132,731 to €20,554
mainly Stocks and contracts (-€725,976) and Net result for the year (-€252,088)
- Trade debts +€543,854
up €543,854 (+111%), from €488,359 to €1.0m
- Debts after one year +€380,712
up €380,712 (+6.9%), from €5.6m to €5.9m
of which Other amounts payable: +€467,379
- Profit (loss) carried forward -€252,088
down €252,088 (-40.4%), from -€623,555 to -€875,643
- Other operating charges -€310,063
down €310,063 (-91.2%), from €340,082 to €30,020
- Gross operating margin +€35,366
up €35,366 (+83.8%), from €42,200 to €77,566
- Financial charges -€6,920
down €6,920 (-2.7%), from €258,357 to €251,436
- Write-downs -€4,012
down €4,012, from €2,006 to -€2,006
- Depreciation +€2,905
up €2,905 (+6.0%), from €48,699 to €51,604
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 | €6,335,067 | €7,046,050 | +€710,983 | +11.2% |
| Fixed assets | 21/28 | €4,711,235 | €4,703,840 | -€7,396 | -0.2% |
| Tangible fixed assets | 22/27 | €4,711,235 | €4,702,340 | -€8,896 | -0.2% |
| Land and buildings | 22 | €4,678,989 | €4,673,620 | -€5,369 | -0.1% |
| Plant, machinery and equipment | 23 | €32,247 | €28,720 | -€3,527 | -10.9% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €1,623,831 | €2,342,210 | +€718,379 | +44.2% |
| Stocks and contracts in progress | 3 | €1,436,654 | €2,162,630 | +€725,976 | +50.5% |
| Stocks | 30/36 | €1,436,654 | €2,162,630 | +€725,976 | +50.5% |
| Amounts receivable within one year | 40/41 | €54,446 | €99,765 | +€45,319 | +83.2% |
| Trade receivables | 40 | €12,983 | €51,887 | +€38,904 | +300% |
| Other amounts receivable | 41 | €41,463 | €47,878 | +€6,415 | +15.5% |
| Cash at bank and in hand | 54/58 | €132,731 | €20,554 | -€112,177 | -84.5% |
| Deferred charges and accrued income | 490/1 | - | €59,261 | +€59,261 | |
| Total equity and liabilities | 10/49 | €6,335,067 | €7,046,050 | +€710,983 | +11.2% |
| Equity | 10/15 | €66,862 | -€185,226 | -€252,088 | |
| Contributions | 10/11 | €690,418 | €690,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€623,555 | -€875,643 | -€252,088 | -40.4% |
| Amounts payable | 17/49 | €6,268,204 | €7,231,275 | +€963,071 | +15.4% |
| Amounts payable after more than one year | 17 | €5,554,843 | €5,935,555 | +€380,712 | +6.9% |
| Financial debts | 170/4 | €1,896,333 | €1,809,667 | -€86,667 | -4.6% |
| Other amounts payable | 178/9 | €3,658,510 | €4,125,889 | +€467,379 | +12.8% |
| Amounts payable within one year | 42/48 | €575,025 | €1,137,559 | +€562,534 | +97.8% |
| Current portion of amounts payable after more than one year | 42 | €86,667 | €105,318 | +€18,651 | +21.5% |
| Financial debts | 43 | - | €29 | +€29 | |
| Credit institutions | 430/8 | - | €29 | +€29 | |
| Trade debts | 44 | €488,359 | €1,032,212 | +€543,854 | +111% |
| Suppliers | 440/4 | €488,359 | €1,032,212 | +€543,854 | +111% |
| Accrued charges and deferred income | 492/3 | €138,336 | €158,161 | +€19,825 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,699 | €51,604 | +€2,905 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,006 | -€2,006 | -€4,012 | |
| Other operating charges | 640/8 | €340,082 | €30,020 | -€310,063 | -91.2% |
| Gross operating margin | 9900 | €42,200 | €77,566 | +€35,366 | +83.8% |
| Operating profit (loss) | 9901 | -€348,587 | -€2,052 | +€346,536 | +99.4% |
| Financial income | 75/76B | €0 | €1,400 | +€1,400 | +6,999,500% |
| Recurring financial income | 75 | €0 | €1,400 | +€1,400 | +6,999,500% |
| Financial charges | 65/66B | €258,357 | €251,436 | -€6,920 | -2.7% |
| Recurring financial charges | 65 | €258,357 | €251,436 | -€6,920 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€606,944 | -€252,088 | +€354,856 | +58.5% |
| Profit (loss) for the period | 9904 | -€606,944 | -€252,088 | +€354,856 | +58.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€606,944 | -€252,088 | +€354,856 | +58.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.