V.E.D. 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.
V.E.D. CONSTRUCT
Largest movements
- Cash +€27,159
up €27,159 (+315.8%), from €8,601 to €35,760
mainly Other debts (+€12,231) and Net result for the year (+€8,235)
- Stocks and contracts -€1,676
down €1,676 (-62.9%), from €2,667 to €990
of which Stocks: -€1,836
- Deferred charges and accrued income -€1,082
down €1,082 (-70.1%), from €1,542 to €461
- Receivables within one year +€764
up €764 (+4.6%), from €16,438 to €17,202
of which Trade receivables: +€2,463
- Other debts +€12,231
up €12,231 (+209.6%), from €5,834 to €18,065
- Profit (loss) carried forward +€8,235
up €8,235 (+41.0%), from €20,089 to €28,323
- Current portion of long-term debt +€4,667
new in 2025: €4,667
- Gross operating margin +€18,834
up €18,834, from -€7,400 to €11,434
- Other operating charges +€718
up €718 (+55.4%), from €1,297 to €2,015
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 | €30,035 | €54,664 | +€24,629 | +82.0% |
| Fixed assets | 21/28 | €787 | €251 | -€536 | -68.1% |
| Tangible fixed assets | 22/27 | €787 | €251 | -€536 | -68.1% |
| Plant, machinery and equipment | 23 | €787 | €251 | -€536 | -68.1% |
| Current assets | 29/58 | €29,248 | €54,413 | +€25,165 | +86.0% |
| Stocks and contracts in progress | 3 | €2,667 | €990 | -€1,676 | -62.9% |
| Stocks | 30/36 | €2,452 | €615 | -€1,836 | -74.9% |
| Contracts in progress | 37 | €215 | €375 | +€160 | +74.4% |
| Amounts receivable within one year | 40/41 | €16,438 | €17,202 | +€764 | +4.6% |
| Trade receivables | 40 | €149 | €2,612 | +€2,463 | +1653.4% |
| Other amounts receivable | 41 | €16,289 | €14,590 | -€1,699 | -10.4% |
| Cash at bank and in hand | 54/58 | €8,601 | €35,760 | +€27,159 | +315.8% |
| Deferred charges and accrued income | 490/1 | €1,542 | €461 | -€1,082 | -70.1% |
| Total equity and liabilities | 10/49 | €30,035 | €54,664 | +€24,629 | +82.0% |
| Equity | 10/15 | €23,589 | €31,823 | +€8,235 | +34.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,089 | €28,323 | +€8,235 | +41.0% |
| Amounts payable | 17/49 | €6,447 | €22,841 | +€16,394 | +254.3% |
| Amounts payable within one year | 42/48 | €6,447 | €22,841 | +€16,394 | +254.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,667 | +€4,667 | |
| Trade debts | 44 | €612 | €109 | -€503 | -82.2% |
| Suppliers | 440/4 | €612 | €109 | -€503 | -82.2% |
| Other amounts payable | 47/48 | €5,834 | €18,065 | +€12,231 | +209.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €536 | €536 | = | 0.0% |
| Other operating charges | 640/8 | €1,297 | €2,015 | +€718 | +55.4% |
| Gross operating margin | 9900 | -€7,400 | €11,434 | +€18,834 | |
| Operating profit (loss) | 9901 | -€9,233 | €8,882 | +€18,115 | |
| Financial charges | 65/66B | €728 | €647 | -€81 | -11.1% |
| Recurring financial charges | 65 | €728 | €647 | -€81 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,961 | €8,235 | +€18,196 | |
| Profit (loss) for the period | 9904 | -€9,961 | €8,235 | +€18,196 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,961 | €8,235 | +€18,196 |
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 6 October 2026 via checked.be.