VAESEN 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.
VAESEN CONSTRUCT
Largest movements
- Receivables within one year +€10,957
up €10,957 (+43.0%), from €25,497 to €36,454
of which Trade receivables: +€8,957
- Cash -€8,658
down €8,658 (-40.8%), from €21,236 to €12,578
mainly Short-term financial debts (-€12,150) and Receivables within one year (-€10,957)
- Tangible fixed assets -€610
down €610 (-25.0%), from €2,440 to €1,830
- Short-term financial debts -€12,150
down €12,150 (-32.4%), from €37,450 to €25,300
- Trade debts +€8,410
new in 2025: €8,410
- Profit (loss) carried forward +€6,285
up €6,285 (+76.3%), from -€8,236 to -€1,951
- Tax, wage and social debts -€856
down €856 (-56.2%), from €1,523 to €667
- Gross operating margin +€4,397
up €4,397 (+131.3%), from €3,350 to €7,747
- Financial charges -€2,149
down €2,149 (-86.3%), from €2,489 to €340
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 | €49,173 | €50,862 | +€1,689 | +3.4% |
| Fixed assets | 21/28 | €2,440 | €1,830 | -€610 | -25.0% |
| Tangible fixed assets | 22/27 | €2,440 | €1,830 | -€610 | -25.0% |
| Plant, machinery and equipment | 23 | €2,440 | €1,830 | -€610 | -25.0% |
| Current assets | 29/58 | €46,733 | €49,032 | +€2,299 | +4.9% |
| Amounts receivable within one year | 40/41 | €25,497 | €36,454 | +€10,957 | +43.0% |
| Trade receivables | 40 | €1,997 | €10,954 | +€8,957 | +448.5% |
| Other amounts receivable | 41 | €23,500 | €25,500 | +€2,000 | +8.5% |
| Cash at bank and in hand | 54/58 | €21,236 | €12,578 | -€8,658 | -40.8% |
| Total equity and liabilities | 10/49 | €49,173 | €50,862 | +€1,689 | +3.4% |
| Equity | 10/15 | €10,200 | €16,485 | +€6,285 | +61.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,236 | €12,236 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €6,036 | €6,036 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,236 | -€1,951 | +€6,285 | +76.3% |
| Amounts payable | 17/49 | €38,973 | €34,377 | -€4,596 | -11.8% |
| Amounts payable within one year | 42/48 | €38,973 | €34,377 | -€4,596 | -11.8% |
| Financial debts | 43 | €37,450 | €25,300 | -€12,150 | -32.4% |
| Other loans | 439 | €37,450 | €25,300 | -€12,150 | -32.4% |
| Trade debts | 44 | - | €8,410 | +€8,410 | |
| Suppliers | 440/4 | - | €8,410 | +€8,410 | |
| Taxes, remuneration and social security | 45 | €1,523 | €667 | -€856 | -56.2% |
| Taxes | 450/3 | €1,523 | €667 | -€856 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €610 | €610 | = | 0.0% |
| Other operating charges | 640/8 | €499 | €512 | +€13 | +2.6% |
| Gross operating margin | 9900 | €3,350 | €7,747 | +€4,397 | +131.3% |
| Operating profit (loss) | 9901 | €2,241 | €6,625 | +€4,384 | +195.6% |
| Financial charges | 65/66B | €2,489 | €340 | -€2,149 | -86.3% |
| Recurring financial charges | 65 | €2,489 | €340 | -€2,149 | -86.3% |
| Profit (loss) for the period before taxes | 9903 | -€248 | €6,285 | +€6,533 | |
| Profit (loss) for the period | 9904 | -€248 | €6,285 | +€6,533 | |
| Profit (loss) for the period to be appropriated | 9905 | -€248 | €6,285 | +€6,533 |
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.