VAC 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.
VAC Construct
Largest movements
- Receivables within one year -€79,724
down €79,724 (-73.4%), from €108,546 to €28,822
of which Trade receivables: -€75,027
- Cash -€16,480
down €16,480 (-40.7%), from €40,465 to €23,986
mainly Net result for the year (-€124,058) and Other debts (-€24,897)
- Deferred charges and accrued income +€4,575
up €4,575 (+154.9%), from €2,953 to €7,528
- Tangible fixed assets +€3,541
up €3,541 (+108.3%), from €3,271 to €6,812
of which Furniture and vehicles: +€4,712
- Profit (loss) carried forward -€124,058
down €124,058, from €51,082 to -€72,976
- Trade debts +€59,034
up €59,034 (+107.3%), from €55,007 to €114,041
- Other debts -€24,897
no longer reported in 2023 (was €24,897)
- Accrued charges and deferred income +€5,588
up €5,588 (+105.0%), from €5,321 to €10,909
- Tax, wage and social debts -€3,756
down €3,756 (-23.2%), from €16,179 to €12,423
of which Taxes: -€6,341
- Gross operating margin -€130,897
down €130,897, from €99,215 to -€31,682
- Staff costs -€128,660
down €128,660 (-82.0%), from €156,982 to €28,322
- Write-downs +€52,175
new in 2023: €52,175
- Depreciation +€8,300
new in 2023: €8,300
- Taxes -€3,400
no longer reported in 2023 (was €3,400)
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,236 | €67,148 | -€88,088 | -56.7% |
| Fixed assets | 21/28 | €3,271 | €6,812 | +€3,541 | +108.3% |
| Tangible fixed assets | 22/27 | €3,271 | €6,812 | +€3,541 | +108.3% |
| Plant, machinery and equipment | 23 | €1,171 | - | -€1,171 | |
| Furniture and vehicles | 24 | €2,100 | €6,812 | +€4,712 | +224.4% |
| Current assets | 29/58 | €151,965 | €60,335 | -€91,629 | -60.3% |
| Amounts receivable within one year | 40/41 | €108,546 | €28,822 | -€79,724 | -73.4% |
| Trade receivables | 40 | €85,498 | €10,471 | -€75,027 | -87.8% |
| Other amounts receivable | 41 | €23,048 | €18,351 | -€4,697 | -20.4% |
| Cash at bank and in hand | 54/58 | €40,465 | €23,986 | -€16,480 | -40.7% |
| Deferred charges and accrued income | 490/1 | €2,953 | €7,528 | +€4,575 | +154.9% |
| Total equity and liabilities | 10/49 | €155,236 | €67,148 | -€88,088 | -56.7% |
| Equity | 10/15 | €53,832 | -€70,226 | -€124,058 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | - | €2,500 | +€2,500 | |
| Issued capital | 100 | - | €2,500 | +€2,500 | |
| Reserves | 13 | €250 | €250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Legal reserve | 130 | - | €250 | +€250 | |
| Reserves not available under the articles | 1311 | €250 | - | -€250 | |
| Profit (loss) carried forward | 14 | €51,082 | -€72,976 | -€124,058 | |
| Amounts payable | 17/49 | €101,404 | €137,374 | +€35,970 | +35.5% |
| Amounts payable within one year | 42/48 | €96,082 | €126,464 | +€30,382 | +31.6% |
| Trade debts | 44 | €55,007 | €114,041 | +€59,034 | +107.3% |
| Suppliers | 440/4 | €55,007 | €114,041 | +€59,034 | +107.3% |
| Taxes, remuneration and social security | 45 | €16,179 | €12,423 | -€3,756 | -23.2% |
| Taxes | 450/3 | €15,556 | €9,215 | -€6,341 | -40.8% |
| Remuneration and social security | 454/9 | €623 | €3,208 | +€2,585 | +415.2% |
| Other amounts payable | 47/48 | €24,897 | - | -€24,897 | |
| Accrued charges and deferred income | 492/3 | €5,321 | €10,909 | +€5,588 | +105.0% |
| Remuneration, social security and pensions | 62 | €156,982 | €28,322 | -€128,660 | -82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,300 | +€8,300 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €52,175 | +€52,175 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €1,084 | +€1,084 | |
| Other operating charges | 640/8 | €200 | - | -€200 | |
| Gross operating margin | 9900 | €99,215 | -€31,682 | -€130,897 | |
| Operating profit (loss) | 9901 | -€57,967 | -€121,564 | -€63,598 | -109.7% |
| Financial income | 75/76B | €47 | €2,075 | +€2,028 | +4292.4% |
| Recurring financial income | 75 | €47 | €2,075 | +€2,028 | +4292.4% |
| Financial charges | 65/66B | €2,225 | €4,569 | +€2,344 | +105.4% |
| Recurring financial charges | 65 | €2,225 | €4,569 | +€2,344 | +105.4% |
| Profit (loss) for the period before taxes | 9903 | -€60,144 | -€124,058 | -€63,914 | -106.3% |
| Income taxes | 67/77 | €3,400 | - | -€3,400 | |
| Profit (loss) for the period | 9904 | -€63,544 | -€124,058 | -€60,514 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,544 | -€124,058 | -€60,514 | -95.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.