VANBESELAERE 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.
VANBESELAERE CONSTRUCT
Largest movements
- Tangible fixed assets +€120,111
up €120,111 (+136%), from €88,277 to €208,388
of which Leasing and similar rights: +€67,412
- Receivables within one year -€23,995
down €23,995 (-27.0%), from €88,994 to €65,000
of which Trade receivables: -€22,624
- Cash -€21,795
down €21,795 (-86.9%), from €25,088 to €3,294
mainly Investment in fixed assets (net) (-€175,122) and Other debts (-€15,407)
- Receivables after one year -€18,000
down €18,000 (-90.0%), from €20,000 to €2,000
- Stocks and contracts +€14,082
up €14,082 (+68.5%), from €20,543 to €34,625
of which Stocks: +€12,082
- Debts after one year +€55,075
up €55,075 (+92.1%), from €59,791 to €114,866
- Reserves +€25,000
up €25,000 (+125%), from €20,000 to €45,000
- Other debts -€15,407
down €15,407 (-83.2%), from €18,524 to €3,117
- Trade debts +€13,342
up €13,342 (+21.3%), from €62,783 to €76,125
- Tax, wage and social debts -€13,066
down €13,066 (-28.8%), from €45,302 to €32,235
of which Taxes: -€11,290
- Staff costs -€32,395
down €32,395 (-25.6%), from €126,508 to €94,113
- Depreciation +€12,789
up €12,789 (+41.2%), from €31,019 to €43,808
- Gross operating margin +€11,951
up €11,951 (+6.8%), from €176,873 to €188,825
- Financial charges +€2,624
up €2,624 (+78.1%), from €3,360 to €5,984
- Taxes +€2,045
up €2,045 (+58.1%), from €3,517 to €5,562
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 | €254,711 | €333,368 | +€78,657 | +30.9% |
| Fixed assets | 21/28 | €92,991 | €224,305 | +€131,314 | +141% |
| Intangible fixed assets | 21 | €4,714 | €3,201 | -€1,513 | -32.1% |
| Tangible fixed assets | 22/27 | €88,277 | €208,388 | +€120,111 | +136% |
| Plant, machinery and equipment | 23 | €32,064 | €70,859 | +€38,795 | +121% |
| Furniture and vehicles | 24 | €36,131 | €20,590 | -€15,541 | -43.0% |
| Leasing and similar rights | 25 | €818 | €68,230 | +€67,412 | +8,237% |
| Other tangible fixed assets | 26 | €19,264 | €48,710 | +€29,446 | +153% |
| Financial fixed assets | 28 | - | €12,716 | +€12,716 | |
| Current assets | 29/58 | €161,720 | €109,063 | -€52,657 | -32.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €2,000 | -€18,000 | -90.0% |
| Other amounts receivable | 291 | €20,000 | €2,000 | -€18,000 | -90.0% |
| Stocks and contracts in progress | 3 | €20,543 | €34,625 | +€14,082 | +68.5% |
| Stocks | 30/36 | €20,543 | €32,625 | +€12,082 | +58.8% |
| Contracts in progress | 37 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €88,994 | €65,000 | -€23,995 | -27.0% |
| Trade receivables | 40 | €86,097 | €63,474 | -€22,624 | -26.3% |
| Other amounts receivable | 41 | €2,897 | €1,526 | -€1,371 | -47.3% |
| Cash at bank and in hand | 54/58 | €25,088 | €3,294 | -€21,795 | -86.9% |
| Deferred charges and accrued income | 490/1 | €7,094 | €4,145 | -€2,949 | -41.6% |
| Total equity and liabilities | 10/49 | €254,711 | €333,368 | +€78,657 | +30.9% |
| Equity | 10/15 | €23,894 | €54,354 | +€30,460 | +127% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,000 | €45,000 | +€25,000 | +125% |
| Distributable reserves | 133 | €20,000 | €45,000 | +€25,000 | +125% |
| Profit (loss) carried forward | 14 | €1,394 | €6,854 | +€5,460 | +392% |
| Amounts payable | 17/49 | €230,817 | €279,014 | +€48,197 | +20.9% |
| Amounts payable after more than one year | 17 | €59,791 | €114,866 | +€55,075 | +92.1% |
| Financial debts | 170/4 | €59,791 | €114,866 | +€55,075 | +92.1% |
| Amounts payable within one year | 42/48 | €169,091 | €163,612 | -€5,479 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €37,483 | €44,806 | +€7,323 | +19.5% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €62,783 | €76,125 | +€13,342 | +21.3% |
| Suppliers | 440/4 | €62,783 | €76,125 | +€13,342 | +21.3% |
| Advances received on contracts in progress | 46 | - | €2,329 | +€2,329 | |
| Taxes, remuneration and social security | 45 | €45,302 | €32,235 | -€13,066 | -28.8% |
| Taxes | 450/3 | €22,969 | €11,679 | -€11,290 | -49.2% |
| Remuneration and social security | 454/9 | €22,333 | €20,556 | -€1,777 | -8.0% |
| Other amounts payable | 47/48 | €18,524 | €3,117 | -€15,407 | -83.2% |
| Accrued charges and deferred income | 492/3 | €1,935 | €536 | -€1,400 | -72.3% |
| Non-recurring operating income | 76A | €852 | - | -€852 | |
| Remuneration, social security and pensions | 62 | €126,508 | €94,113 | -€32,395 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,019 | €43,808 | +€12,789 | +41.2% |
| Other operating charges | 640/8 | €2,497 | €1,927 | -€570 | -22.8% |
| Non-recurring operating charges | 66A | - | €4,396 | +€4,396 | |
| Gross operating margin | 9900 | €176,873 | €188,825 | +€11,951 | +6.8% |
| Operating profit (loss) | 9901 | €16,849 | €44,580 | +€27,731 | +165% |
| Financial income | 75/76B | €343 | €427 | +€84 | +24.5% |
| Recurring financial income | 75 | €343 | €427 | +€84 | +24.5% |
| Financial charges | 65/66B | €3,360 | €5,984 | +€2,624 | +78.1% |
| Recurring financial charges | 65 | €3,360 | €5,984 | +€2,624 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €13,832 | €39,022 | +€25,191 | +182% |
| Income taxes | 67/77 | €3,517 | €5,562 | +€2,045 | +58.1% |
| Profit (loss) for the period | 9904 | €10,315 | €33,460 | +€23,146 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €10,315 | €33,460 | +€23,146 | +224% |
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 30 October 2026 via checked.be.