V.W.M. CONSTRUCT: 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.W.M. CONSTRUCT
Largest movements
- Receivables within one year +€36,667
up €36,667 (+209.1%), from €17,532 to €54,199
of which Trade receivables: +€37,563
- Stocks and contracts -€14,694
down €14,694 (-55.1%), from €26,658 to €11,964
of which Contracts in progress: -€16,500
- Tangible fixed assets +€5,995
up €5,995 (+70.9%), from €8,456 to €14,451
of which Plant, machinery and equipment: +€6,870
- Cash +€1,939
up €1,939 (+57.3%), from €3,385 to €5,324
mainly Net result for the year (+€26,423) and Stocks and contracts (+€14,694)
- Profit (loss) carried forward +€26,423
up €26,423 (+113.0%), from €23,373 to €49,796
- Trade debts +€4,591
up €4,591 (+47.7%), from €9,615 to €14,206
- Gross operating margin +€31,676
up €31,676 (+235.4%), from €13,457 to €45,133
- Taxes +€7,176
up €7,176 (+328.0%), from €2,188 to €9,364
- Depreciation +€1,891
up €1,891 (+33.6%), from €5,633 to €7,524
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 | €56,488 | €86,192 | +€29,704 | +52.6% |
| Formation expenses | 20 | €457 | €254 | -€203 | -44.4% |
| Fixed assets | 21/28 | €8,456 | €14,451 | +€5,995 | +70.9% |
| Tangible fixed assets | 22/27 | €8,456 | €14,451 | +€5,995 | +70.9% |
| Plant, machinery and equipment | 23 | €2,675 | €9,545 | +€6,870 | +256.8% |
| Furniture and vehicles | 24 | €5,781 | €4,906 | -€875 | -15.1% |
| Current assets | 29/58 | €47,575 | €71,487 | +€23,912 | +50.3% |
| Stocks and contracts in progress | 3 | €26,658 | €11,964 | -€14,694 | -55.1% |
| Stocks | 30/36 | €10,158 | €11,964 | +€1,806 | +17.8% |
| Contracts in progress | 37 | €16,500 | - | -€16,500 | |
| Amounts receivable within one year | 40/41 | €17,532 | €54,199 | +€36,667 | +209.1% |
| Trade receivables | 40 | €7,888 | €45,451 | +€37,563 | +476.2% |
| Other amounts receivable | 41 | €9,644 | €8,748 | -€896 | -9.3% |
| Cash at bank and in hand | 54/58 | €3,385 | €5,324 | +€1,939 | +57.3% |
| Total equity and liabilities | 10/49 | €56,488 | €86,192 | +€29,704 | +52.6% |
| Equity | 10/15 | €43,373 | €69,796 | +€26,423 | +60.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | €23,373 | €49,796 | +€26,423 | +113.0% |
| Amounts payable | 17/49 | €13,115 | €16,396 | +€3,281 | +25.0% |
| Amounts payable within one year | 42/48 | €13,115 | €16,396 | +€3,281 | +25.0% |
| Trade debts | 44 | €9,615 | €14,206 | +€4,591 | +47.7% |
| Suppliers | 440/4 | €9,615 | €14,206 | +€4,591 | +47.7% |
| Taxes, remuneration and social security | 45 | €650 | - | -€650 | |
| Remuneration and social security | 454/9 | €650 | - | -€650 | |
| Other amounts payable | 47/48 | €2,850 | €2,190 | -€660 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,633 | €7,524 | +€1,891 | +33.6% |
| Other operating charges | 640/8 | €327 | €675 | +€348 | +106.4% |
| Gross operating margin | 9900 | €13,457 | €45,133 | +€31,676 | +235.4% |
| Operating profit (loss) | 9901 | €7,497 | €36,934 | +€29,437 | +392.7% |
| Financial charges | 65/66B | €1,029 | €1,147 | +€118 | +11.5% |
| Recurring financial charges | 65 | €1,029 | €1,009 | -€20 | -1.9% |
| Non-recurring financial charges | 66B | - | €138 | +€138 | |
| Profit (loss) for the period before taxes | 9903 | €6,468 | €35,787 | +€29,319 | +453.3% |
| Income taxes | 67/77 | €2,188 | €9,364 | +€7,176 | +328.0% |
| Profit (loss) for the period | 9904 | €4,280 | €26,423 | +€22,143 | +517.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,280 | €26,423 | +€22,143 | +517.4% |
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 10 October 2026 via checked.be.