Vanneste Construct: what changed
Vanneste Construct
Largest movements
- Tangible fixed assets -€71,626
down €71,626 (-16.1%), from €445,077 to €373,451
of which Plant, machinery and equipment: -€42,742
- Stocks and contracts -€55,000
down €55,000 (-14.7%), from €375,000 to €320,000
- Receivables within one year -€47,352
down €47,352 (-8.5%), from €557,294 to €509,942
of which Other amounts receivable: -€71,789
- Cash -€27,285
down €27,285 (-49.3%), from €55,398 to €28,113
mainly Trade debts (-€144,975) and Other debts (-€106,246)
- Trade debts -€144,975
down €144,975 (-18.6%), from €777,980 to €633,006
- Other debts -€106,246
down €106,246 (-100%), from €106,246 to €0
- Tax, wage and social debts +€78,315
up €78,315 (+457%), from €17,127 to €95,442
of which Remuneration and social security: +€63,151
- Debts after one year -€48,221
down €48,221 (-22.0%), from €219,583 to €171,362
- Reserves +€42,643
up €42,643 (+17.9%), from €238,429 to €281,071
- Gross operating margin +€65,549
up €65,549 (+14.0%), from €468,810 to €534,359
- Financial charges +€47,818
up €47,818 (+88.4%), from €54,078 to €101,896
- Staff costs +€30,284
up €30,284 (+11.5%), from €263,524 to €293,808
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,443,903 | €1,241,855 | -€202,048 | -14.0% |
| Fixed assets | 21/28 | €446,727 | €375,101 | -€71,626 | -16.0% |
| Tangible fixed assets | 22/27 | €445,077 | €373,451 | -€71,626 | -16.1% |
| Land and buildings | 22 | €314,919 | €296,784 | -€18,135 | -5.8% |
| Plant, machinery and equipment | 23 | €109,933 | €67,190 | -€42,742 | -38.9% |
| Furniture and vehicles | 24 | €20,225 | €9,477 | -€10,748 | -53.1% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €997,176 | €866,753 | -€130,423 | -13.1% |
| Stocks and contracts in progress | 3 | €375,000 | €320,000 | -€55,000 | -14.7% |
| Contracts in progress | 37 | €375,000 | €320,000 | -€55,000 | -14.7% |
| Amounts receivable within one year | 40/41 | €557,294 | €509,942 | -€47,352 | -8.5% |
| Trade receivables | 40 | €435,467 | €459,904 | +€24,437 | +5.6% |
| Other amounts receivable | 41 | €121,827 | €50,038 | -€71,789 | -58.9% |
| Cash at bank and in hand | 54/58 | €55,398 | €28,113 | -€27,285 | -49.3% |
| Deferred charges and accrued income | 490/1 | €9,484 | €8,698 | -€785 | -8.3% |
| Total equity and liabilities | 10/49 | €1,443,903 | €1,241,855 | -€202,048 | -14.0% |
| Equity | 10/15 | €250,829 | €293,471 | +€42,643 | +17.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €238,429 | €281,071 | +€42,643 | +17.9% |
| Distributable reserves | 133 | €238,429 | €281,071 | +€42,643 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,193,074 | €948,383 | -€244,691 | -20.5% |
| Amounts payable after more than one year | 17 | €219,583 | €171,362 | -€48,221 | -22.0% |
| Financial debts | 170/4 | €219,583 | €171,362 | -€48,221 | -22.0% |
| Amounts payable within one year | 42/48 | €973,092 | €776,668 | -€196,424 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €71,739 | €48,221 | -€23,518 | -32.8% |
| Trade debts | 44 | €777,980 | €633,006 | -€144,975 | -18.6% |
| Suppliers | 440/4 | €777,980 | €633,006 | -€144,975 | -18.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €17,127 | €95,442 | +€78,315 | +457% |
| Taxes | 450/3 | €17,127 | €32,291 | +€15,164 | +88.5% |
| Remuneration and social security | 454/9 | - | €63,151 | +€63,151 | |
| Other amounts payable | 47/48 | €106,246 | €0 | -€106,246 | -100% |
| Accrued charges and deferred income | 492/3 | €399 | €354 | -€46 | -11.5% |
| Remuneration, social security and pensions | 62 | €263,524 | €293,808 | +€30,284 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,907 | €74,439 | +€1,532 | +2.1% |
| Other operating charges | 640/8 | €9,626 | €9,854 | +€228 | +2.4% |
| Non-recurring operating charges | 66A | €27,961 | - | -€27,961 | |
| Gross operating margin | 9900 | €468,810 | €534,359 | +€65,549 | +14.0% |
| Operating profit (loss) | 9901 | €94,791 | €156,258 | +€61,466 | +64.8% |
| Financial income | 75/76B | €11,611 | €8,008 | -€3,603 | -31.0% |
| Recurring financial income | 75 | €11,611 | €8,008 | -€3,603 | -31.0% |
| Financial charges | 65/66B | €54,078 | €101,896 | +€47,818 | +88.4% |
| Recurring financial charges | 65 | €54,078 | €101,896 | +€47,818 | +88.4% |
| Profit (loss) for the period before taxes | 9903 | €52,324 | €62,370 | +€10,046 | +19.2% |
| Income taxes | 67/77 | €16,112 | €19,727 | +€3,615 | +22.4% |
| Profit (loss) for the period | 9904 | €36,213 | €42,643 | +€6,430 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,213 | €42,643 | +€6,430 | +17.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.