V-Build: 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.
V-Build
Largest movements
- Tangible fixed assets -€16,103
down €16,103 (-35.2%), from €45,715 to €29,612
of which Plant, machinery and equipment: -€15,015
- Receivables within one year -€13,753
down €13,753 (-14.4%), from €95,473 to €81,720
of which Other amounts receivable: -€28,421
- Stocks and contracts -€10,804
down €10,804 (-76.9%), from €14,054 to €3,250
- Cash +€10,319
new in 2025: €10,319
mainly Net result for the year (+€21,196) and Depreciation (+€17,884)
- Trade debts -€28,237
no longer reported in 2025 (was €28,237)
- Reserves +€20,000
up €20,000 (+106.0%), from €18,860 to €38,860
- Short-term financial debts -€12,082
no longer reported in 2025 (was €12,082)
- Debts after one year -€8,258
down €8,258 (-42.0%), from €19,664 to €11,406
- Current portion of long-term debt -€5,073
down €5,073 (-38.1%), from €13,331 to €8,258
- Gross operating margin +€29,962
up €29,962 (+100.3%), from €29,875 to €59,836
- Taxes +€18,584
up €18,584 (+2755.9%), from €674 to €19,258
- Depreciation -€2,484
down €2,484 (-12.2%), from €20,369 to €17,884
- Financial income +€1,483
up €1,483 (+667.9%), from €222 to €1,705
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 | €156,959 | €126,415 | -€30,544 | -19.5% |
| Fixed assets | 21/28 | €45,715 | €29,862 | -€15,853 | -34.7% |
| Tangible fixed assets | 22/27 | €45,715 | €29,612 | -€16,103 | -35.2% |
| Plant, machinery and equipment | 23 | €38,617 | €23,602 | -€15,015 | -38.9% |
| Furniture and vehicles | 24 | €7,098 | €6,010 | -€1,088 | -15.3% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €111,244 | €96,553 | -€14,691 | -13.2% |
| Stocks and contracts in progress | 3 | €14,054 | €3,250 | -€10,804 | -76.9% |
| Stocks | 30/36 | €14,054 | €3,250 | -€10,804 | -76.9% |
| Amounts receivable within one year | 40/41 | €95,473 | €81,720 | -€13,753 | -14.4% |
| Trade receivables | 40 | €28,932 | €43,601 | +€14,668 | +50.7% |
| Other amounts receivable | 41 | €66,540 | €38,119 | -€28,421 | -42.7% |
| Cash at bank and in hand | 54/58 | - | €10,319 | +€10,319 | |
| Deferred charges and accrued income | 490/1 | €1,717 | €1,265 | -€453 | -26.4% |
| Total equity and liabilities | 10/49 | €156,959 | €126,415 | -€30,544 | -19.5% |
| Equity | 10/15 | €51,293 | €72,559 | +€21,266 | +41.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,860 | €38,860 | +€20,000 | +106.0% |
| Distributable reserves | 133 | €18,860 | €38,860 | +€20,000 | +106.0% |
| Profit (loss) carried forward | 14 | €26,233 | €27,499 | +€1,266 | +4.8% |
| Amounts payable | 17/49 | €105,665 | €53,856 | -€51,809 | -49.0% |
| Amounts payable after more than one year | 17 | €19,664 | €11,406 | -€8,258 | -42.0% |
| Financial debts | 170/4 | €19,664 | €11,406 | -€8,258 | -42.0% |
| Amounts payable within one year | 42/48 | €82,865 | €40,688 | -€42,177 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €13,331 | €8,258 | -€5,073 | -38.1% |
| Financial debts | 43 | €12,082 | - | -€12,082 | |
| Credit institutions | 430/8 | €12,082 | - | -€12,082 | |
| Trade debts | 44 | €28,237 | - | -€28,237 | |
| Suppliers | 440/4 | €28,237 | - | -€28,237 | |
| Taxes, remuneration and social security | 45 | €29,216 | €32,431 | +€3,215 | +11.0% |
| Taxes | 450/3 | €26,716 | €30,931 | +€4,215 | +15.8% |
| Remuneration and social security | 454/9 | €2,500 | €1,500 | -€1,000 | -40.0% |
| Accrued charges and deferred income | 492/3 | €3,136 | €1,762 | -€1,375 | -43.8% |
| Non-recurring operating income | 76A | €3,603 | - | -€3,603 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,369 | €17,884 | -€2,484 | -12.2% |
| Other operating charges | 640/8 | €1,837 | €1,797 | -€40 | -2.2% |
| Gross operating margin | 9900 | €29,875 | €59,836 | +€29,962 | +100.3% |
| Operating profit (loss) | 9901 | €7,669 | €40,155 | +€32,486 | +423.6% |
| Financial income | 75/76B | €222 | €1,705 | +€1,483 | +667.9% |
| Recurring financial income | 75 | €222 | €1,705 | +€1,483 | +667.9% |
| Financial charges | 65/66B | €1,787 | €1,405 | -€382 | -21.4% |
| Recurring financial charges | 65 | €1,787 | €1,405 | -€382 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €6,104 | €40,455 | +€34,351 | +562.7% |
| Income taxes | 67/77 | €674 | €19,258 | +€18,584 | +2755.9% |
| Profit (loss) for the period | 9904 | €5,430 | €21,196 | +€15,766 | +290.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,430 | €21,196 | +€15,766 | +290.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.