CONSTRUCTIE VERGAUWE: 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.
CONSTRUCTIE VERGAUWE
Largest movements
- Stocks and contracts -€409,000
down €409,000 (-31.7%), from €1.3m to €880,329
- Cash -€224,275
down €224,275 (-98.7%), from €227,285 to €3,010
mainly Net result for the year (-€540,007) and Trade debts (-€381,527)
- Receivables within one year -€88,932
down €88,932 (-10.5%), from €848,326 to €759,394
of which Other amounts receivable: -€163,846
- Tangible fixed assets -€78,308
down €78,308 (-48.5%), from €161,489 to €83,181
- Deferred charges and accrued income -€40,685
no longer reported in 2025 (was €40,685)
- Profit (loss) carried forward -€540,132
down €540,132 (-64.5%), from -€836,830 to -€1.4m
- Trade debts -€381,527
down €381,527 (-37.3%), from €1.0m to €641,812
- Tax, wage and social debts +€144,765
up €144,765 (+1,429%), from €10,131 to €154,896
of which Taxes: +€95,081
- Debts after one year -€117,740
down €117,740 (-23.6%), from €497,968 to €380,228
of which Financial debts: -€104,951
- Other debts +€36,232
up €36,232 (+38.4%), from €94,338 to €130,570
- Financial income -€1.4m
down €1.4m (-99.8%), from €1.4m to €2,584
of which Non-recurring financial income: -€1.4m
- Gross operating margin -€305,646
down €305,646, from €85,540 to -€220,106
- Staff costs -€195,241
down €195,241 (-58.6%), from €333,188 to €137,947
- Financial charges -€94,101
down €94,101 (-79.1%), from €119,006 to €24,905
- Depreciation +€6,693
up €6,693 (+5.9%), from €112,721 to €119,414
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 | €2,727,374 | €1,869,868 | -€857,506 | -31.4% |
| Formation expenses | 20 | €117,466 | €108,430 | -€9,036 | -7.7% |
| Fixed assets | 21/28 | €204,283 | €118,705 | -€85,578 | -41.9% |
| Intangible fixed assets | 21 | €40,323 | €33,053 | -€7,270 | -18.0% |
| Tangible fixed assets | 22/27 | €161,489 | €83,181 | -€78,308 | -48.5% |
| Plant, machinery and equipment | 23 | €19,592 | €6,127 | -€13,465 | -68.7% |
| Furniture and vehicles | 24 | €98,611 | €71,883 | -€26,728 | -27.1% |
| Leasing and similar rights | 25 | €43,286 | €5,171 | -€38,115 | -88.1% |
| Financial fixed assets | 28 | €2,471 | €2,471 | = | 0.0% |
| Current assets | 29/58 | €2,405,625 | €1,642,733 | -€762,892 | -31.7% |
| Stocks and contracts in progress | 3 | €1,289,329 | €880,329 | -€409,000 | -31.7% |
| Stocks | 30/36 | €1,289,329 | €880,329 | -€409,000 | -31.7% |
| Amounts receivable within one year | 40/41 | €848,326 | €759,394 | -€88,932 | -10.5% |
| Trade receivables | 40 | €524,469 | €599,383 | +€74,914 | +14.3% |
| Other amounts receivable | 41 | €323,857 | €160,011 | -€163,846 | -50.6% |
| Cash at bank and in hand | 54/58 | €227,285 | €3,010 | -€224,275 | -98.7% |
| Deferred charges and accrued income | 490/1 | €40,685 | - | -€40,685 | |
| Total equity and liabilities | 10/49 | €2,727,374 | €1,869,868 | -€857,506 | -31.4% |
| Equity | 10/15 | €733,124 | €192,992 | -€540,132 | -73.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,507,954 | €1,507,954 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,084,528 | €1,084,528 | = | 0.0% |
| Distributable reserves | 133 | €417,226 | €417,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€836,830 | -€1,376,962 | -€540,132 | -64.5% |
| Provisions and deferred taxes | 16 | €355,259 | €355,259 | = | 0.0% |
| Deferred taxes | 168 | €355,259 | €355,259 | = | 0.0% |
| Amounts payable | 17/49 | €1,638,991 | €1,321,617 | -€317,374 | -19.4% |
| Amounts payable after more than one year | 17 | €497,968 | €380,228 | -€117,740 | -23.6% |
| Financial debts | 170/4 | €485,179 | €380,228 | -€104,951 | -21.6% |
| Trade debts | 175 | €12,789 | - | -€12,789 | |
| Amounts payable within one year | 42/48 | €1,141,023 | €927,278 | -€213,745 | -18.7% |
| Trade debts | 44 | €1,023,339 | €641,812 | -€381,527 | -37.3% |
| Suppliers | 440/4 | €1,023,339 | €641,812 | -€381,527 | -37.3% |
| Advances received on contracts in progress | 46 | €13,215 | - | -€13,215 | |
| Taxes, remuneration and social security | 45 | €10,131 | €154,896 | +€144,765 | +1,429% |
| Taxes | 450/3 | €6,970 | €102,051 | +€95,081 | +1,364% |
| Remuneration and social security | 454/9 | €3,161 | €52,845 | +€49,684 | +1,572% |
| Other amounts payable | 47/48 | €94,338 | €130,570 | +€36,232 | +38.4% |
| Accrued charges and deferred income | 492/3 | - | €14,111 | +€14,111 | |
| Remuneration, social security and pensions | 62 | €333,188 | €137,947 | -€195,241 | -58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,721 | €119,414 | +€6,693 | +5.9% |
| Other operating charges | 640/8 | €41,350 | €40,219 | -€1,131 | -2.7% |
| Gross operating margin | 9900 | €85,540 | -€220,106 | -€305,646 | |
| Operating profit (loss) | 9901 | -€401,719 | -€517,686 | -€115,967 | -28.9% |
| Financial income | 75/76B | €1,424,026 | €2,584 | -€1.4m | -99.8% |
| Recurring financial income | 75 | €2,988 | €2,584 | -€404 | -13.5% |
| Non-recurring financial income | 76B | €1,421,038 | - | -€1.4m | |
| Financial charges | 65/66B | €119,006 | €24,905 | -€94,101 | -79.1% |
| Recurring financial charges | 65 | €119,006 | €24,905 | -€94,101 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | €903,301 | -€540,007 | -€1.4m | |
| Transfer to deferred taxes | 680 | €355,259 | - | -€355,259 | |
| Income taxes | 67/77 | €5,595 | - | -€5,595 | |
| Profit (loss) for the period | 9904 | €542,447 | -€540,007 | -€1.1m | |
| Transfer to tax-exempt reserves | 689 | €1,065,778 | - | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€523,331 | -€540,007 | -€16,676 | -3.2% |
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 15 October 2026 via checked.be.