V-Construct: 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.
V-Construct
Largest movements
- Current investments +€25,000
up €25,000 (+41.7%), from €60,000 to €85,000
- Receivables within one year +€4,923
up €4,923 (+37.9%), from €12,975 to €17,898
of which Other amounts receivable: +€6,452
- Reserves +€43,632
up €43,632 (+62.3%), from €69,993 to €113,625
- Trade debts -€12,638
no longer reported in 2025 (was €12,638)
- Gross operating margin +€60,536
up €60,536 (+101%), from €59,881 to €120,417
- Taxes +€14,730
up €14,730 (+99.5%), from €14,799 to €29,529
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 | €128,808 | €159,691 | +€30,883 | +24.0% |
| Fixed assets | 21/28 | €2,271 | €2,459 | +€188 | +8.3% |
| Tangible fixed assets | 22/27 | €2,271 | €2,459 | +€188 | +8.3% |
| Furniture and vehicles | 24 | €2,271 | €2,459 | +€188 | +8.3% |
| Current assets | 29/58 | €126,537 | €157,233 | +€30,695 | +24.3% |
| Amounts receivable within one year | 40/41 | €12,975 | €17,898 | +€4,923 | +37.9% |
| Trade receivables | 40 | €10,196 | €8,667 | -€1,529 | -15.0% |
| Other amounts receivable | 41 | €2,779 | €9,231 | +€6,452 | +232% |
| Current investments | 50/53 | €60,000 | €85,000 | +€25,000 | +41.7% |
| Cash at bank and in hand | 54/58 | €53,562 | €54,335 | +€772 | +1.4% |
| Total equity and liabilities | 10/49 | €128,808 | €159,691 | +€30,883 | +24.0% |
| Equity | 10/15 | €70,993 | €114,625 | +€43,632 | +61.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €69,993 | €113,625 | +€43,632 | +62.3% |
| Distributable reserves | 133 | €69,993 | €113,625 | +€43,632 | +62.3% |
| Amounts payable | 17/49 | €57,815 | €45,066 | -€12,749 | -22.1% |
| Amounts payable within one year | 42/48 | €57,815 | €45,066 | -€12,749 | -22.1% |
| Trade debts | 44 | €12,638 | - | -€12,638 | |
| Suppliers | 440/4 | €12,638 | - | -€12,638 | |
| Taxes, remuneration and social security | 45 | €7,500 | €6,750 | -€750 | -10.0% |
| Taxes | 450/3 | €7,500 | €6,750 | -€750 | -10.0% |
| Other amounts payable | 47/48 | €37,677 | €38,316 | +€639 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,256 | €1,671 | +€414 | +33.0% |
| Other operating charges | 640/8 | €619 | €527 | -€91 | -14.7% |
| Gross operating margin | 9900 | €59,881 | €120,417 | +€60,536 | +101% |
| Operating profit (loss) | 9901 | €58,006 | €118,219 | +€60,213 | +104% |
| Financial income | 75/76B | €676 | - | -€676 | |
| Recurring financial income | 75 | €676 | - | -€676 | |
| Financial charges | 65/66B | €0 | €58 | +€57 | +12,720% |
| Recurring financial charges | 65 | €0 | €58 | +€57 | +12,720% |
| Profit (loss) for the period before taxes | 9903 | €58,682 | €118,162 | +€59,480 | +101% |
| Income taxes | 67/77 | €14,799 | €29,529 | +€14,730 | +99.5% |
| Profit (loss) for the period | 9904 | €43,883 | €88,632 | +€44,750 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €43,883 | €88,632 | +€44,750 | +102% |
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 13 October 2026 via checked.be.