V.D.S. CONSTRUCTIONS: 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.D.S. CONSTRUCTIONS
Largest movements
- Receivables within one year +€30,505
up €30,505 (+175.2%), from €17,415 to €47,920
of which Trade receivables: +€30,520
- Tangible fixed assets -€9,136
down €9,136 (-4.6%), from €199,863 to €190,726
of which Land and buildings: -€4,832
- Cash +€6,992
up €6,992 (+65.2%), from €10,728 to €17,720
mainly Trade debts (+€33,516) and Depreciation (+€16,113)
- Trade debts +€33,516
up €33,516 (+318.7%), from €10,515 to €44,031
- Debts after one year -€14,472
down €14,472 (-10.0%), from €144,029 to €129,557
of which Financial debts: -€14,835
- Current portion of long-term debt +€5,496
up €5,496 (+38.3%), from €14,339 to €19,835
- Gross operating margin +€7,146
up €7,146 (+20.8%), from €34,429 to €41,576
- Depreciation +€3,389
up €3,389 (+26.6%), from €12,724 to €16,113
- Financial charges +€1,165
up €1,165 (+17.0%), from €6,846 to €8,010
- Other operating charges +€627
up €627 (+65.0%), from €965 to €1,592
- Staff costs -€463
down €463 (-3.9%), from €11,849 to €11,386
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 | €231,444 | €258,871 | +€27,427 | +11.9% |
| Fixed assets | 21/28 | €199,863 | €190,726 | -€9,136 | -4.6% |
| Tangible fixed assets | 22/27 | €199,863 | €190,726 | -€9,136 | -4.6% |
| Land and buildings | 22 | €167,052 | €162,219 | -€4,832 | -2.9% |
| Plant, machinery and equipment | 23 | €2,677 | €2,420 | -€258 | -9.6% |
| Furniture and vehicles | 24 | €30,133 | €26,087 | -€4,046 | -13.4% |
| Current assets | 29/58 | €31,582 | €68,145 | +€36,563 | +115.8% |
| Amounts receivable within one year | 40/41 | €17,415 | €47,920 | +€30,505 | +175.2% |
| Trade receivables | 40 | €14,842 | €45,362 | +€30,520 | +205.6% |
| Other amounts receivable | 41 | €2,573 | €2,558 | -€16 | -0.6% |
| Cash at bank and in hand | 54/58 | €10,728 | €17,720 | +€6,992 | +65.2% |
| Deferred charges and accrued income | 490/1 | €3,439 | €2,505 | -€934 | -27.2% |
| Total equity and liabilities | 10/49 | €231,444 | €258,871 | +€27,427 | +11.9% |
| Equity | 10/15 | €50,005 | €51,451 | +€1,447 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,691 | €30,891 | +€2,200 | +7.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,831 | €29,031 | +€2,200 | +8.2% |
| Profit (loss) carried forward | 14 | €2,714 | €1,960 | -€753 | -27.8% |
| Amounts payable | 17/49 | €181,440 | €207,420 | +€25,980 | +14.3% |
| Amounts payable after more than one year | 17 | €144,029 | €129,557 | -€14,472 | -10.0% |
| Financial debts | 170/4 | €142,935 | €128,100 | -€14,835 | -10.4% |
| Other amounts payable | 178/9 | €1,094 | €1,457 | +€363 | +33.2% |
| Amounts payable within one year | 42/48 | €37,410 | €76,573 | +€39,163 | +104.7% |
| Current portion of amounts payable after more than one year | 42 | €14,339 | €19,835 | +€5,496 | +38.3% |
| Trade debts | 44 | €10,515 | €44,031 | +€33,516 | +318.7% |
| Suppliers | 440/4 | €10,515 | €44,031 | +€33,516 | +318.7% |
| Taxes, remuneration and social security | 45 | €12,556 | €12,124 | -€432 | -3.4% |
| Taxes | 450/3 | €9,145 | €7,618 | -€1,527 | -16.7% |
| Remuneration and social security | 454/9 | €3,411 | €4,506 | +€1,095 | +32.1% |
| Other amounts payable | 47/48 | - | €583 | +€583 | |
| Accrued charges and deferred income | 492/3 | - | €1,289 | +€1,289 | |
| Remuneration, social security and pensions | 62 | €11,849 | €11,386 | -€463 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,724 | €16,113 | +€3,389 | +26.6% |
| Other operating charges | 640/8 | €965 | €1,592 | +€627 | +65.0% |
| Gross operating margin | 9900 | €34,429 | €41,576 | +€7,146 | +20.8% |
| Operating profit (loss) | 9901 | €8,891 | €12,485 | +€3,593 | +40.4% |
| Financial income | 75/76B | €306 | €84 | -€222 | -72.5% |
| Recurring financial income | 75 | €306 | €84 | -€222 | -72.5% |
| Financial charges | 65/66B | €6,846 | €8,010 | +€1,165 | +17.0% |
| Recurring financial charges | 65 | €6,846 | €8,010 | +€1,165 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €2,351 | €4,558 | +€2,207 | +93.9% |
| Income taxes | 67/77 | €2,079 | €2,279 | +€200 | +9.6% |
| Profit (loss) for the period | 9904 | €273 | €2,280 | +€2,007 | +736.5% |
| Profit (loss) for the period to be appropriated | 9905 | €273 | €2,280 | +€2,007 | +736.5% |
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 11 October 2026 via checked.be.