V2M 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.
V2M CONSTRUCT
Largest movements
- Tangible fixed assets -€151,310
down €151,310 (-52.2%), from €290,056 to €138,745
of which Land and buildings: -€198,289
- Cash +€135,821
up €135,821 (+206%), from €65,947 to €201,768
mainly Depreciation (+€198,289) and Other debts (+€117,864)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year -€10,114
down €10,114 (-16.2%), from €62,581 to €52,467
- Reserves -€125,021
down €125,021 (-68.6%), from €182,211 to €57,190
of which Distributable reserves: -€123,161
- Other debts +€117,864
up €117,864 (+90.7%), from €130,000 to €247,864
- Advances received -€100,000
down €100,000 (-93.7%), from €106,670 to €6,670
- Tax, wage and social debts -€41,099
down €41,099 (-44.7%), from €92,017 to €50,918
- Trade debts +€34,254
new in 2025: €34,254
- Depreciation +€198,289
new in 2025: €198,289
- Gross operating margin +€132,641
up €132,641 (+255%), from €52,016 to €184,657
- Taxes -€15,353
down €15,353, from €14,192 to -€1,161
- Financial income +€2,133
new in 2025: €2,133
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 | €518,584 | €393,480 | -€125,104 | -24.1% |
| Fixed assets | 21/28 | €290,056 | €138,745 | -€151,310 | -52.2% |
| Tangible fixed assets | 22/27 | €290,056 | €138,745 | -€151,310 | -52.2% |
| Land and buildings | 22 | €198,289 | - | -€198,289 | |
| Assets under construction and advance payments | 27 | €91,766 | €138,745 | +€46,979 | +51.2% |
| Current assets | 29/58 | €228,528 | €254,735 | +€26,207 | +11.5% |
| Stocks and contracts in progress | 3 | - | €500 | +€500 | |
| Stocks | 30/36 | - | €500 | +€500 | |
| Amounts receivable within one year | 40/41 | €62,581 | €52,467 | -€10,114 | -16.2% |
| Other amounts receivable | 41 | €62,581 | €52,467 | -€10,114 | -16.2% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €65,947 | €201,768 | +€135,821 | +206% |
| Total equity and liabilities | 10/49 | €518,584 | €393,480 | -€125,104 | -24.1% |
| Equity | 10/15 | €189,897 | €53,775 | -€136,122 | -71.7% |
| Contributions | 10/11 | €14,360 | €14,360 | = | 0.0% |
| Reserves | 13 | €182,211 | €57,190 | -€125,021 | -68.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €180,351 | €57,190 | -€123,161 | -68.3% |
| Profit (loss) carried forward | 14 | -€6,674 | -€17,775 | -€11,101 | -166% |
| Amounts payable | 17/49 | €328,687 | €339,705 | +€11,018 | +3.4% |
| Amounts payable within one year | 42/48 | €328,687 | €339,705 | +€11,018 | +3.4% |
| Trade debts | 44 | - | €34,254 | +€34,254 | |
| Suppliers | 440/4 | - | €34,254 | +€34,254 | |
| Advances received on contracts in progress | 46 | €106,670 | €6,670 | -€100,000 | -93.7% |
| Taxes, remuneration and social security | 45 | €92,017 | €50,918 | -€41,099 | -44.7% |
| Taxes | 450/3 | €92,017 | €50,918 | -€41,099 | -44.7% |
| Other amounts payable | 47/48 | €130,000 | €247,864 | +€117,864 | +90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €198,289 | +€198,289 | |
| Other operating charges | 640/8 | €900 | €762 | -€138 | -15.3% |
| Gross operating margin | 9900 | €52,016 | €184,657 | +€132,641 | +255% |
| Operating profit (loss) | 9901 | €51,116 | -€14,395 | -€65,511 | |
| Financial income | 75/76B | - | €2,133 | +€2,133 | |
| Recurring financial income | 75 | - | €2,133 | +€2,133 | |
| Profit (loss) for the period before taxes | 9903 | €51,116 | -€12,262 | -€63,378 | |
| Income taxes | 67/77 | €14,192 | -€1,161 | -€15,353 | |
| Profit (loss) for the period | 9904 | €36,924 | -€11,101 | -€48,025 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,924 | -€11,101 | -€48,025 |
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 17 October 2026 via checked.be.