V.G. 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.G. CONSTRUCTION
Largest movements
- Cash +€50,047
up €50,047 (+84.6%), from €59,177 to €109,224
mainly Net result for the year (+€101,912) and Tax, wage and social debts (+€8,558)
- Profit (loss) carried forward +€96,816
new in 2025: €96,816
- Debts after one year -€54,966
down €54,966 (-18.6%), from €295,922 to €240,956
- Financial income -€27,686
down €27,686 (-27.7%), from €100,058 to €72,373
- Taxes -€12,617
down €12,617 (-62.7%), from €20,123 to €7,506
- Gross operating margin -€5,702
down €5,702 (-10.5%), from €54,283 to €48,581
- Financial charges -€1,982
down €1,982 (-15.1%), from €13,118 to €11,136
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 | €896,070 | €953,535 | +€57,465 | +6.4% |
| Fixed assets | 21/28 | €801,575 | €801,575 | = | 0.0% |
| Financial fixed assets | 28 | €801,575 | €801,575 | = | 0.0% |
| Current assets | 29/58 | €94,495 | €151,960 | +€57,465 | +60.8% |
| Amounts receivable within one year | 40/41 | €35,244 | €42,674 | +€7,430 | +21.1% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €35,244 | €42,674 | +€7,430 | +21.1% |
| Cash at bank and in hand | 54/58 | €59,177 | €109,224 | +€50,047 | +84.6% |
| Deferred charges and accrued income | 490/1 | €74 | €63 | -€11 | -15.0% |
| Total equity and liabilities | 10/49 | €896,070 | €953,535 | +€57,465 | +6.4% |
| Equity | 10/15 | €521,127 | €623,039 | +€101,912 | +19.6% |
| Contributions | 10/11 | €400,799 | €400,799 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Uncalled capital | 101 | €0 | - | = | |
| Contributions outside capital | 11 | €400,799 | €400,799 | = | 0.0% |
| Other | 1109/19 | €400,799 | €400,799 | = | 0.0% |
| Reserves | 13 | €120,328 | €125,424 | +€5,096 | +4.2% |
| Non-distributable reserves | 130/1 | - | €5,096 | +€5,096 | |
| Legal reserve | 130 | - | €5,096 | +€5,096 | |
| Distributable reserves | 133 | €120,328 | €120,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €96,816 | +€96,816 | |
| Amounts payable | 17/49 | €374,942 | €330,496 | -€44,447 | -11.9% |
| Amounts payable after more than one year | 17 | €295,922 | €240,956 | -€54,966 | -18.6% |
| Financial debts | 170/4 | €295,922 | €240,956 | -€54,966 | -18.6% |
| Amounts payable within one year | 42/48 | €79,020 | €89,540 | +€10,519 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €53,004 | €54,966 | +€1,962 | +3.7% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €26,016 | €34,574 | +€8,558 | +32.9% |
| Taxes | 450/3 | €26,016 | €34,574 | +€8,558 | +32.9% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | €54,283 | €48,581 | -€5,702 | -10.5% |
| Operating profit (loss) | 9901 | €53,511 | €48,181 | -€5,330 | -10.0% |
| Financial income | 75/76B | €100,058 | €72,373 | -€27,686 | -27.7% |
| Recurring financial income | 75 | €100,058 | €72,373 | -€27,686 | -27.7% |
| Financial charges | 65/66B | €13,118 | €11,136 | -€1,982 | -15.1% |
| Recurring financial charges | 65 | €13,118 | €11,136 | -€1,982 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €140,451 | €109,418 | -€31,033 | -22.1% |
| Income taxes | 67/77 | €20,123 | €7,506 | -€12,617 | -62.7% |
| Profit (loss) for the period | 9904 | €120,328 | €101,912 | -€18,416 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120,328 | €101,912 | -€18,416 | -15.3% |
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 25 October 2026 via checked.be.