V-construction: 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-construction
Largest movements
- Tangible fixed assets -€11,415
down €11,415 (-68.0%), from €16,790 to €5,375
of which Furniture and vehicles: -€8,194
- Cash -€6,992
down €6,992 (-100.0%), from €6,995 to €3
mainly Tax, wage and social debts (-€31,491) and Net result for the year (-€13,741)
- Receivables within one year -€1,562
down €1,562 (-13.5%), from €11,562 to €10,000
of which Trade receivables: -€1,243
- Deferred charges and accrued income -€378
down €378 (-61.3%), from €616 to €238
- Tax, wage and social debts -€31,491
down €31,491 (-100%), from €31,491 to €0
of which Taxes: -€29,991
- Other debts +€25,225
up €25,225, from €0 to €25,225
- Profit (loss) carried forward -€13,741
down €13,741 (-1,424%), from -€965 to -€14,706
- Trade debts -€440
down €440 (-36.3%), from €1,211 to €772
- Gross operating margin +€76,295
up €76,295 (+94.2%), from -€81,018 to -€4,724
- Depreciation -€4,126
down €4,126 (-50.0%), from €8,251 to €4,125
- Other operating charges +€3,554
up €3,554 (+305%), from €1,166 to €4,720
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 | €36,737 | €16,291 | -€20,447 | -55.7% |
| Fixed assets | 21/28 | €17,565 | €6,050 | -€11,515 | -65.6% |
| Intangible fixed assets | 21 | €775 | €675 | -€100 | -12.9% |
| Tangible fixed assets | 22/27 | €16,790 | €5,375 | -€11,415 | -68.0% |
| Plant, machinery and equipment | 23 | €8,336 | €5,115 | -€3,221 | -38.6% |
| Furniture and vehicles | 24 | €8,454 | €260 | -€8,194 | -96.9% |
| Current assets | 29/58 | €19,173 | €10,241 | -€8,932 | -46.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €11,562 | €10,000 | -€1,562 | -13.5% |
| Trade receivables | 40 | €1,243 | €0 | -€1,243 | -100% |
| Other amounts receivable | 41 | €10,319 | €10,000 | -€319 | -3.1% |
| Cash at bank and in hand | 54/58 | €6,995 | €3 | -€6,992 | -100.0% |
| Deferred charges and accrued income | 490/1 | €616 | €238 | -€378 | -61.3% |
| Total equity and liabilities | 10/49 | €36,737 | €16,291 | -€20,447 | -55.7% |
| Equity | 10/15 | €4,035 | -€9,706 | -€13,741 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€965 | -€14,706 | -€13,741 | -1,424% |
| Amounts payable | 17/49 | €32,703 | €25,997 | -€6,706 | -20.5% |
| Amounts payable within one year | 42/48 | €32,703 | €25,997 | -€6,706 | -20.5% |
| Trade debts | 44 | €1,211 | €772 | -€440 | -36.3% |
| Suppliers | 440/4 | €1,211 | €772 | -€440 | -36.3% |
| Taxes, remuneration and social security | 45 | €31,491 | €0 | -€31,491 | -100% |
| Taxes | 450/3 | €29,991 | €0 | -€29,991 | -100% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €0 | €25,225 | +€25,225 | |
| Remuneration, social security and pensions | 62 | €106 | €0 | -€106 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,251 | €4,125 | -€4,126 | -50.0% |
| Other operating charges | 640/8 | €1,166 | €4,720 | +€3,554 | +305% |
| Gross operating margin | 9900 | -€81,018 | -€4,724 | +€76,295 | +94.2% |
| Operating profit (loss) | 9901 | -€90,540 | -€13,568 | +€76,972 | +85.0% |
| Financial charges | 65/66B | €238 | €173 | -€65 | -27.4% |
| Recurring financial charges | 65 | €238 | €173 | -€65 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | -€90,778 | -€13,741 | +€77,037 | +84.9% |
| Income taxes | 67/77 | -€85 | €0 | +€85 | |
| Profit (loss) for the period | 9904 | -€90,693 | -€13,741 | +€76,952 | +84.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,693 | -€13,741 | +€76,952 | +84.8% |
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 16 October 2026 via checked.be.