V & V-BOUW: 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 & V-BOUW
Largest movements
- Tangible fixed assets -€100,339
down €100,339 (-23.3%), from €430,802 to €330,463
of which Land and buildings: -€132,394
- Cash +€94,607
up €94,607 (+2,544%), from €3,718 to €98,325
mainly Net result for the year (+€147,136) and Investment in fixed assets (net) (+€78,981)
- Stocks and contracts +€75,648
new in 2025: €75,648
- Reserves +€148,133
up €148,133 (+91.7%), from €161,551 to €309,684
of which Tax-exempt reserves: +€173,133
- Debts after one year -€52,967
down €52,967 (-22.9%), from €230,868 to €177,901
- Other debts -€12,389
no longer reported in 2025 (was €12,389)
- Accrued charges and deferred income -€6,486
no longer reported in 2025 (was €6,486)
- Gross operating margin +€164,084
up €164,084 (+261%), from €62,765 to €226,849
- Taxes +€23,170
up €23,170 (+334%), from €6,929 to €30,099
- Other operating charges +€10,871
up €10,871 (+234%), from €4,644 to €15,516
- Depreciation -€5,645
down €5,645 (-20.9%), from €27,003 to €21,358
- Financial charges +€4,527
up €4,527 (+53.6%), from €8,444 to €12,970
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 | €491,548 | €563,943 | +€72,394 | +14.7% |
| Fixed assets | 21/28 | €430,802 | €330,463 | -€100,339 | -23.3% |
| Tangible fixed assets | 22/27 | €430,802 | €330,463 | -€100,339 | -23.3% |
| Land and buildings | 22 | €420,075 | €287,681 | -€132,394 | -31.5% |
| Plant, machinery and equipment | 23 | €10,390 | €1,787 | -€8,603 | -82.8% |
| Furniture and vehicles | 24 | €337 | €40,996 | +€40,659 | +12,058% |
| Current assets | 29/58 | €60,746 | €233,479 | +€172,733 | +284% |
| Stocks and contracts in progress | 3 | - | €75,648 | +€75,648 | |
| Stocks | 30/36 | - | €75,648 | +€75,648 | |
| Amounts receivable within one year | 40/41 | €53,278 | €56,625 | +€3,348 | +6.3% |
| Trade receivables | 40 | €53,278 | €39,405 | -€13,873 | -26.0% |
| Other amounts receivable | 41 | - | €17,220 | +€17,220 | |
| Cash at bank and in hand | 54/58 | €3,718 | €98,325 | +€94,607 | +2,544% |
| Deferred charges and accrued income | 490/1 | €3,750 | €2,881 | -€869 | -23.2% |
| Total equity and liabilities | 10/49 | €491,548 | €563,943 | +€72,394 | +14.7% |
| Equity | 10/15 | €185,935 | €333,071 | +€147,136 | +79.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,551 | €309,684 | +€148,133 | +91.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,691 | €217,824 | +€173,133 | +387% |
| Distributable reserves | 133 | €115,000 | €90,000 | -€25,000 | -21.7% |
| Profit (loss) carried forward | 14 | €5,785 | €4,787 | -€998 | -17.2% |
| Amounts payable | 17/49 | €305,613 | €230,872 | -€74,741 | -24.5% |
| Amounts payable after more than one year | 17 | €230,868 | €177,901 | -€52,967 | -22.9% |
| Financial debts | 170/4 | €230,868 | €177,901 | -€52,967 | -22.9% |
| Amounts payable within one year | 42/48 | €68,259 | €52,971 | -€15,288 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €22,428 | €17,818 | -€4,610 | -20.6% |
| Trade debts | 44 | €23,440 | €22,193 | -€1,247 | -5.3% |
| Suppliers | 440/4 | €23,440 | €22,193 | -€1,247 | -5.3% |
| Taxes, remuneration and social security | 45 | €10,002 | €12,960 | +€2,958 | +29.6% |
| Taxes | 450/3 | €10,002 | €12,960 | +€2,958 | +29.6% |
| Other amounts payable | 47/48 | €12,389 | - | -€12,389 | |
| Accrued charges and deferred income | 492/3 | €6,486 | - | -€6,486 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,003 | €21,358 | -€5,645 | -20.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,038 | - | -€3,038 | |
| Other operating charges | 640/8 | €4,644 | €15,516 | +€10,871 | +234% |
| Gross operating margin | 9900 | €62,765 | €226,849 | +€164,084 | +261% |
| Operating profit (loss) | 9901 | €28,080 | €189,975 | +€161,895 | +577% |
| Financial income | 75/76B | €211 | €230 | +€19 | +9.0% |
| Recurring financial income | 75 | €211 | €230 | +€19 | +9.0% |
| Financial charges | 65/66B | €8,444 | €12,970 | +€4,527 | +53.6% |
| Recurring financial charges | 65 | €8,444 | €12,970 | +€4,527 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €19,847 | €177,235 | +€157,387 | +793% |
| Income taxes | 67/77 | €6,929 | €30,099 | +€23,170 | +334% |
| Profit (loss) for the period | 9904 | €12,918 | €147,136 | +€134,217 | +1,039% |
| Transfer to tax-exempt reserves | 689 | - | €173,133 | +€173,133 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,918 | -€25,998 | -€38,916 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.