F. VASQUES CONSTRUCT: what changed
Two fiscal 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.
F. VASQUES CONSTRUCT
Largest movements
- Receivables within one year -€126,516
down €126,516 (-92.0%), from €137,522 to €11,005
of which Trade receivables: -€119,129
- Cash +€37,636
up €37,636 (+1007.9%), from €3,734 to €41,371
mainly Receivables within one year (+€126,516) and Net result for the year (+€28,677)
- Tangible fixed assets -€5,193
down €5,193 (-17.0%), from €30,577 to €25,384
of which Furniture and vehicles: -€6,427
- Trade debts -€109,818
down €109,818 (-77.7%), from €141,283 to €31,465
- Profit (loss) carried forward +€28,677
up €28,677 (+62.7%), from -€45,718 to -€17,041
- Debts after one year -€7,016
down €7,016 (-43.2%), from €16,232 to €9,216
- Tax, wage and social debts -€6,305
down €6,305 (-71.5%), from €8,816 to €2,511
of which Taxes: -€5,129
- Accrued charges and deferred income -€2,444
down €2,444 (-100.0%), from €2,444 to €0
- Gross operating margin +€114,700
up €114,700 (+62.2%), from €184,467 to €299,167
- Staff costs +€42,834
up €42,834 (+19.8%), from €216,373 to €259,207
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.
Cash bridge derived
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 | €183,243 | €88,820 | -€94,423 | -51.5% |
| Fixed assets | 21/28 | €32,077 | €26,884 | -€5,193 | -16.2% |
| Tangible fixed assets | 22/27 | €30,577 | €25,384 | -€5,193 | -17.0% |
| Plant, machinery and equipment | 23 | €6,057 | €7,290 | +€1,233 | +20.4% |
| Furniture and vehicles | 24 | €24,520 | €18,093 | -€6,427 | -26.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €151,166 | €61,936 | -€89,230 | -59.0% |
| Amounts receivable within one year | 40/41 | €137,522 | €11,005 | -€126,516 | -92.0% |
| Trade receivables | 40 | €130,134 | €11,005 | -€119,129 | -91.5% |
| Other amounts receivable | 41 | €7,388 | €0 | -€7,388 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,734 | €41,371 | +€37,636 | +1007.9% |
| Deferred charges and accrued income | 490/1 | €9,910 | €9,560 | -€350 | -3.5% |
| Total equity and liabilities | 10/49 | €183,243 | €88,820 | -€94,423 | -51.5% |
| Equity | 10/15 | -€4,918 | €23,759 | +€28,677 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,800 | €37,800 | = | 0.0% |
| Distributable reserves | 133 | €37,800 | €37,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,718 | -€17,041 | +€28,677 | +62.7% |
| Amounts payable | 17/49 | €188,161 | €65,061 | -€123,100 | -65.4% |
| Amounts payable after more than one year | 17 | €16,232 | €9,216 | -€7,016 | -43.2% |
| Financial debts | 170/4 | €16,232 | €9,216 | -€7,016 | -43.2% |
| Amounts payable within one year | 42/48 | €169,484 | €55,845 | -€113,640 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €6,714 | €7,016 | +€302 | +4.5% |
| Trade debts | 44 | €141,283 | €31,465 | -€109,818 | -77.7% |
| Suppliers | 440/4 | €141,283 | €31,465 | -€109,818 | -77.7% |
| Taxes, remuneration and social security | 45 | €8,816 | €2,511 | -€6,305 | -71.5% |
| Taxes | 450/3 | €7,640 | €2,511 | -€5,129 | -67.1% |
| Remuneration and social security | 454/9 | €1,177 | €0 | -€1,177 | -100.0% |
| Other amounts payable | 47/48 | €12,671 | €14,852 | +€2,181 | +17.2% |
| Accrued charges and deferred income | 492/3 | €2,444 | €0 | -€2,444 | -100.0% |
| Remuneration, social security and pensions | 62 | €216,373 | €259,207 | +€42,834 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,768 | €9,483 | -€2,284 | -19.4% |
| Other operating charges | 640/8 | €856 | €581 | -€275 | -32.1% |
| Gross operating margin | 9900 | €184,467 | €299,167 | +€114,700 | +62.2% |
| Operating profit (loss) | 9901 | -€44,529 | €29,895 | +€74,425 | |
| Financial income | 75/76B | €970 | €0 | -€969 | -100.0% |
| Recurring financial income | 75 | €970 | €0 | -€969 | -100.0% |
| Financial charges | 65/66B | €2,071 | €1,110 | -€961 | -46.4% |
| Recurring financial charges | 65 | €2,071 | €1,110 | -€961 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | -€45,631 | €28,786 | +€74,417 | |
| Income taxes | 67/77 | €87 | €109 | +€22 | +24.8% |
| Profit (loss) for the period | 9904 | -€45,718 | €28,677 | +€74,395 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,718 | €28,677 | +€74,395 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.