VACARU 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.
VACARU CONSTRUCTION
Largest movements
- Cash +€82,087
up €82,087 (+172%), from €47,589 to €129,676
mainly Other debts (+€272,608) and Trade debts (+€71,247)
- Stocks and contracts +€48,031
up €48,031 (+20.1%), from €239,221 to €287,251
- Receivables within one year +€47,014
up €47,014 (+146%), from €32,154 to €79,168
of which Trade receivables: +€56,518
- Tangible fixed assets -€28,704
down €28,704 (-8.2%), from €350,481 to €321,776
of which Land and buildings: -€25,168
- Other debts +€272,608
up €272,608 (+4,454%), from €6,120 to €278,728
- Reserves -€231,798
down €231,798 (-49.1%), from €471,998 to €240,200
- Trade debts +€71,247
up €71,247 (+587%), from €12,140 to €83,388
- Short-term financial debts +€50,000
new in 2025: €50,000
- Debts after one year -€16,139
no longer reported in 2025 (was €16,139)
- Gross operating margin -€24,843
down €24,843 (-20.1%), from €123,392 to €98,549
- Taxes -€5,100
down €5,100 (-23.1%), from €22,075 to €16,974
- Other operating charges -€3,666
down €3,666 (-38.1%), from €9,612 to €5,946
- Depreciation -€2,857
down €2,857 (-9.1%), from €31,561 to €28,704
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 | €707,816 | €849,562 | +€141,747 | +20.0% |
| Fixed assets | 21/28 | €350,481 | €321,776 | -€28,704 | -8.2% |
| Tangible fixed assets | 22/27 | €350,481 | €321,776 | -€28,704 | -8.2% |
| Land and buildings | 22 | €345,742 | €320,574 | -€25,168 | -7.3% |
| Plant, machinery and equipment | 23 | €941 | €312 | -€629 | -66.8% |
| Furniture and vehicles | 24 | €3,797 | €890 | -€2,907 | -76.6% |
| Current assets | 29/58 | €357,335 | €527,786 | +€170,451 | +47.7% |
| Stocks and contracts in progress | 3 | €239,221 | €287,251 | +€48,031 | +20.1% |
| Stocks | 30/36 | €239,221 | €287,251 | +€48,031 | +20.1% |
| Amounts receivable within one year | 40/41 | €32,154 | €79,168 | +€47,014 | +146% |
| Trade receivables | 40 | €14,566 | €71,085 | +€56,518 | +388% |
| Other amounts receivable | 41 | €17,588 | €8,083 | -€9,505 | -54.0% |
| Cash at bank and in hand | 54/58 | €47,589 | €129,676 | +€82,087 | +172% |
| Deferred charges and accrued income | 490/1 | €38,371 | €31,691 | -€6,681 | -17.4% |
| Total equity and liabilities | 10/49 | €707,816 | €849,562 | +€141,747 | +20.0% |
| Equity | 10/15 | €640,732 | €408,934 | -€231,798 | -36.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €471,998 | €240,200 | -€231,798 | -49.1% |
| Distributable reserves | 133 | €471,998 | €240,200 | -€231,798 | -49.1% |
| Profit (loss) carried forward | 14 | €162,534 | €162,534 | = | 0.0% |
| Amounts payable | 17/49 | €67,084 | €440,629 | +€373,545 | +557% |
| Amounts payable after more than one year | 17 | €16,139 | - | -€16,139 | |
| Financial debts | 170/4 | €16,139 | - | -€16,139 | |
| Amounts payable within one year | 42/48 | €50,945 | €440,629 | +€389,683 | +765% |
| Current portion of amounts payable after more than one year | 42 | €21,610 | €16,139 | -€5,471 | -25.3% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €12,140 | €83,388 | +€71,247 | +587% |
| Suppliers | 440/4 | €12,140 | €83,388 | +€71,247 | +587% |
| Taxes, remuneration and social security | 45 | €11,075 | €12,374 | +€1,300 | +11.7% |
| Taxes | 450/3 | €11,075 | €12,374 | +€1,300 | +11.7% |
| Other amounts payable | 47/48 | €6,120 | €278,728 | +€272,608 | +4,454% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,561 | €28,704 | -€2,857 | -9.1% |
| Other operating charges | 640/8 | €9,612 | €5,946 | -€3,666 | -38.1% |
| Gross operating margin | 9900 | €123,392 | €98,549 | -€24,843 | -20.1% |
| Operating profit (loss) | 9901 | €82,219 | €63,899 | -€18,320 | -22.3% |
| Financial income | 75/76B | €35 | €75 | +€40 | +112% |
| Recurring financial income | 75 | €35 | €75 | +€40 | +112% |
| Financial charges | 65/66B | €9,064 | €8,417 | -€647 | -7.1% |
| Recurring financial charges | 65 | €9,064 | €8,417 | -€647 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €73,190 | €55,557 | -€17,634 | -24.1% |
| Income taxes | 67/77 | €22,075 | €16,974 | -€5,100 | -23.1% |
| Profit (loss) for the period | 9904 | €51,116 | €38,583 | -€12,533 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,116 | €38,583 | -€12,533 | -24.5% |
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.