V.G. CONSTRUCT
Dissolved and wound upFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-01-2026 at the NBB all 3 filings
Equity
€47,694▼ 48.3%
2024 · €92,249
Total assets
€62,306▼ 37.3%
2024 · €99,404
Net result
-€44,555▼ 126%
2024 · -€19,687
Working capital
€47,694▲ 67.3%
2024 · €28,503
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€44,254
▼ 128%
2025
20232025
Net result
-€44,555
▼ 126%
2025
20232025
Equity
€47,694
▼ 48.3%
2025
20232025
Total assets
€62,306
▼ 37.3%
2025
20232025
Debt
€14,612
▲ 104%
2025
20232025
Working capital
€47,694
▲ 67.3%
2025
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€45,548--€19,418-€44,254▼ 128%
Net result€31,429--€19,687-€44,555▼ 126%
Equity€111,936-€92,249▼ 17.6%€47,694▼ 48.3%
Total assets€155,258-€99,404▼ 36.0%€62,306▼ 37.3%
Debt€43,322-€7,155▼ 83.5%€14,612▲ 104%
Working capital€33,639-€28,503▼ 15.3%€47,694▲ 67.3%
The operating result for 2025 is a loss of €44,254, larger than the loss of €19,418 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €62,306
Equity
€47,694 ▼ 48.3%
Debt
€14,612 ▲ 104%
Debt's share of the balance-sheet total rises from 7.2% to 23.5%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
4.26▼
2024 · 4.98
Debt to equity
0.31▲
2024 · 0.08
ROE
-93.4%▼
2024 · -21.3%
ROA
-71.5%▼
2024 · -19.8%
Debt ≤ 1 year
€14,612▲
2024 · €7,155
Income taxes
€160▲
2024 · €159
Staff costs
€135
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €87,806 | €1,711 | - |
| Depreciation and write-downs of the year | €8,096 | €17,818 | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €135 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,096 | €17,818 | - | - |
| Other operating charges640/8 | €1,643 | €1,802 | €583 | ▼ 67.6% |
| Non-recurring operating charges66A | - | - | €22,696 | - |
| Gross operating margin9900 | €55,287 | €202 | -€20,840 | - |
| Operating profit (loss)9901 | €45,548 | -€19,418 | -€44,254 | ▼ 128% |
| Financial income75/76B | €100 | €22 | €2 | ▼ 90.4% |
| Recurring financial income75 | €100 | €22 | €2 | ▼ 90.4% |
| Financial charges65/66B | €136 | €131 | €143 | ▲ 9.0% |
| Recurring financial charges65 | €136 | €131 | €143 | ▲ 9.0% |
| Profit (loss) for the period before taxes9903 | €45,513 | -€19,527 | -€44,395 | ▼ 127% |
| Income taxes67/77 | €14,083 | €159 | €160 | ▲ 0.2% |
| Profit (loss) for the period9904 | €31,429 | -€19,687 | -€44,555 | ▼ 126% |
| Profit (loss) for the period to be appropriated9905 | €31,429 | -€19,687 | -€44,555 | ▼ 126% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €155,258 | €99,404 | €62,306 | ▼ 37.3% |
| Fixed assets21/28 | €79,853 | €63,746 | - | - |
| Tangible fixed assets22/27 | €79,853 | €63,746 | - | - |
| Furniture and vehicles24 | €79,853 | €63,746 | - | - |
| Current assets29/58 | €75,405 | €35,658 | €62,306 | ▲ 74.7% |
| Stocks and contracts in progress3 | €2,208 | - | - | - |
| Stocks30/36 | €2,208 | - | - | - |
| Amounts receivable within one year40/41 | €13,916 | €4,609 | €4,436 | ▼ 3.8% |
| Trade receivables40 | €97 | €2,033 | - | - |
| Other amounts receivable41 | €13,820 | €2,576 | €4,436 | ▲ 72.2% |
| Cash at bank and in hand54/58 | €59,280 | €31,049 | €57,870 | ▲ 86.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €155,258 | €99,404 | €62,306 | ▼ 37.3% |
| Equity10/15 | €111,936 | €92,249 | €47,694 | ▼ 48.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €87,820 | €87,820 | €87,820 | = |
| Distributable reserves133 | €87,820 | €87,820 | €87,820 | = |
| Profit (loss) carried forward14 | €14,116 | -€5,571 | -€50,126 | ▼ 800% |
| Amounts payable17/49 | €43,322 | €7,155 | €14,612 | ▲ 104% |
| Amounts payable within one year42/48 | €41,765 | €7,155 | €14,612 | ▲ 104% |
| Trade debts44 | €6,659 | €105 | €2,362 | ▲ 22× |
| Suppliers440/4 | €6,659 | €105 | €2,362 | ▲ 22× |
| Taxes, remuneration and social security45 | €24,964 | €2,483 | €10,978 | ▲ 342% |
| Taxes450/3 | €17,155 | €2,483 | €10,978 | ▲ 342% |
| Remuneration and social security454/9 | €7,809 | - | - | - |
| Other amounts payable47/48 | €10,143 | €4,566 | €1,272 | ▼ 72.1% |
| Accrued charges and deferred income492/3 | €1,557 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,429 | -€19,687 | -€44,555 | ▼ 126% |
| + Depreciation and write-downs630 | €8,096 | €17,818 | - | - |
| Operating cash flow (approximation) | €39,525 | -€1,868 | -€44,555 | ▼ 2,285% |
| Investment in fixed assets (approximation) | - | -€1,711 | - | - |
| Change in cash | - | -€28,231 | €26,821 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.