VVD ESTATE: 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.
VVD ESTATE
Largest movements
- Tangible fixed assets -€180,620
down €180,620 (-6.3%), from €2.9m to €2.7m
of which Land and buildings: -€178,492
- Receivables after one year -€107,938
down €107,938 (-34.5%), from €312,958 to €205,021
- Cash +€83,623
up €83,623 (+848%), from €9,864 to €93,486
mainly Depreciation (+€180,620) and Net result for the year (+€168,163)
- Receivables within one year -€34,184
down €34,184 (-64.2%), from €53,258 to €19,074
of which Other amounts receivable: -€32,276
- Debts after one year -€286,808
down €286,808 (-11.8%), from €2.4m to €2.1m
- Other debts +€44,445
up €44,445 (+10.3%), from €430,333 to €474,778
- Gross operating margin +€19,564
up €19,564 (+4.2%), from €467,817 to €487,381
- Financial charges -€17,078
down €17,078 (-19.1%), from €89,197 to €72,119
- Taxes +€8,708
up €8,708 (+18.3%), from €47,597 to €56,305
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 | €3,247,712 | €3,006,171 | -€241,541 | -7.4% |
| Fixed assets | 21/28 | €2,855,061 | €2,674,442 | -€180,620 | -6.3% |
| Tangible fixed assets | 22/27 | €2,855,061 | €2,674,442 | -€180,620 | -6.3% |
| Land and buildings | 22 | €2,842,070 | €2,663,578 | -€178,492 | -6.3% |
| Plant, machinery and equipment | 23 | €2,985 | €2,230 | -€755 | -25.3% |
| Furniture and vehicles | 24 | €10,006 | €8,633 | -€1,373 | -13.7% |
| Current assets | 29/58 | €392,651 | €331,729 | -€60,921 | -15.5% |
| Amounts receivable after more than one year | 29 | €312,958 | €205,021 | -€107,938 | -34.5% |
| Other amounts receivable | 291 | €312,958 | €205,021 | -€107,938 | -34.5% |
| Amounts receivable within one year | 40/41 | €53,258 | €19,074 | -€34,184 | -64.2% |
| Trade receivables | 40 | €20,042 | €18,134 | -€1,908 | -9.5% |
| Other amounts receivable | 41 | €33,216 | €940 | -€32,276 | -97.2% |
| Cash at bank and in hand | 54/58 | €9,864 | €93,486 | +€83,623 | +848% |
| Deferred charges and accrued income | 490/1 | €16,570 | €14,148 | -€2,422 | -14.6% |
| Total equity and liabilities | 10/49 | €3,247,712 | €3,006,171 | -€241,541 | -7.4% |
| Equity | 10/15 | €45,035 | €48,199 | +€3,163 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,435 | €29,599 | +€3,163 | +12.0% |
| Amounts payable | 17/49 | €3,202,676 | €2,957,972 | -€244,704 | -7.6% |
| Amounts payable after more than one year | 17 | €2,435,733 | €2,148,925 | -€286,808 | -11.8% |
| Financial debts | 170/4 | €2,435,733 | €2,148,925 | -€286,808 | -11.8% |
| Amounts payable within one year | 42/48 | €746,498 | €797,978 | +€51,479 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €280,391 | €286,808 | +€6,417 | +2.3% |
| Trade debts | 44 | €23,728 | €18,401 | -€5,327 | -22.5% |
| Suppliers | 440/4 | €23,728 | €18,401 | -€5,327 | -22.5% |
| Taxes, remuneration and social security | 45 | €12,046 | €17,991 | +€5,945 | +49.4% |
| Taxes | 450/3 | €12,046 | €17,991 | +€5,945 | +49.4% |
| Other amounts payable | 47/48 | €430,333 | €474,778 | +€44,445 | +10.3% |
| Accrued charges and deferred income | 492/3 | €20,445 | €11,070 | -€9,375 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,426 | €180,620 | +€193 | +0.1% |
| Other operating charges | 640/8 | €19,090 | €19,604 | +€514 | +2.7% |
| Gross operating margin | 9900 | €467,817 | €487,381 | +€19,564 | +4.2% |
| Operating profit (loss) | 9901 | €268,301 | €287,157 | +€18,857 | +7.0% |
| Financial income | 75/76B | €11,912 | €9,430 | -€2,483 | -20.8% |
| Recurring financial income | 75 | €11,912 | €9,430 | -€2,483 | -20.8% |
| Financial charges | 65/66B | €89,197 | €72,119 | -€17,078 | -19.1% |
| Recurring financial charges | 65 | €89,197 | €72,119 | -€17,078 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €191,016 | €224,468 | +€33,452 | +17.5% |
| Income taxes | 67/77 | €47,597 | €56,305 | +€8,708 | +18.3% |
| Profit (loss) for the period | 9904 | €143,420 | €168,163 | +€24,743 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €143,420 | €168,163 | +€24,743 | +17.3% |
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 23 October 2026 via checked.be.