VAS 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.
VAS CONSTRUCT
Largest movements
- Receivables within one year -€43,163
down €43,163 (-54.2%), from €79,586 to €36,423
of which Trade receivables: -€22,516
- Tangible fixed assets -€10,150
down €10,150 (-25.0%), from €40,595 to €30,445
of which Leasing and similar rights: -€10,045
- Cash +€2,314
up €2,314 (+72.6%), from €3,185 to €5,499
mainly Receivables within one year (+€43,163) and Depreciation (+€10,863)
- Debts after one year -€26,938
no longer reported in 2024 (was €26,938)
- Tax, wage and social debts -€16,883
down €16,883 (-68.5%), from €24,631 to €7,749
of which Taxes: -€10,124
- Trade debts -€13,384
down €13,384 (-81.2%), from €16,486 to €3,102
- Profit (loss) carried forward +€4,650
up €4,650 (+12.0%), from €38,750 to €43,400
- Other debts +€1,851
new in 2024: €1,851
- Purchases and services -€33,447
down €33,447 (-17.6%), from €190,511 to €157,064
- Gross operating margin -€17,709
down €17,709 (-22.6%), from €78,365 to €60,656
- Depreciation -€15,776
down €15,776 (-59.2%), from €26,639 to €10,863
- Staff costs -€6,379
down €6,379 (-14.6%), from €43,778 to €37,399
- Other operating charges -€5,754
down €5,754 (-80.1%), from €7,180 to €1,427
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,366 | €72,367 | -€50,999 | -41.3% |
| Fixed assets | 21/28 | €40,595 | €30,445 | -€10,150 | -25.0% |
| Tangible fixed assets | 22/27 | €40,595 | €30,445 | -€10,150 | -25.0% |
| Furniture and vehicles | 24 | €1,459 | €1,355 | -€104 | -7.1% |
| Leasing and similar rights | 25 | €39,136 | €29,091 | -€10,045 | -25.7% |
| Current assets | 29/58 | €82,771 | €41,922 | -€40,849 | -49.4% |
| Amounts receivable within one year | 40/41 | €79,586 | €36,423 | -€43,163 | -54.2% |
| Trade receivables | 40 | €57,041 | €34,525 | -€22,516 | -39.5% |
| Other amounts receivable | 41 | €22,545 | €1,898 | -€20,647 | -91.6% |
| Cash at bank and in hand | 54/58 | €3,185 | €5,499 | +€2,314 | +72.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €123,366 | €72,367 | -€50,999 | -41.3% |
| Equity | 10/15 | €39,250 | €43,900 | +€4,650 | +11.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,750 | €43,400 | +€4,650 | +12.0% |
| Amounts payable | 17/49 | €84,116 | €28,467 | -€55,649 | -66.2% |
| Amounts payable after more than one year | 17 | €26,938 | - | -€26,938 | |
| Financial debts | 170/4 | €26,938 | - | -€26,938 | |
| Amounts payable within one year | 42/48 | €57,178 | €28,467 | -€28,711 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €16,061 | €15,766 | -€295 | -1.8% |
| Trade debts | 44 | €16,486 | €3,102 | -€13,384 | -81.2% |
| Suppliers | 440/4 | €16,486 | €3,102 | -€13,384 | -81.2% |
| Taxes, remuneration and social security | 45 | €24,631 | €7,749 | -€16,883 | -68.5% |
| Taxes | 450/3 | €12,701 | €2,578 | -€10,124 | -79.7% |
| Remuneration and social security | 454/9 | €11,930 | €5,171 | -€6,759 | -56.7% |
| Other amounts payable | 47/48 | - | €1,851 | +€1,851 | |
| Goods, raw materials, services and sundry goods | 60/61 | €190,511 | €157,064 | -€33,447 | -17.6% |
| Remuneration, social security and pensions | 62 | €43,778 | €37,399 | -€6,379 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,639 | €10,863 | -€15,776 | -59.2% |
| Other operating charges | 640/8 | €7,180 | €1,427 | -€5,754 | -80.1% |
| Gross operating margin | 9900 | €78,365 | €60,656 | -€17,709 | -22.6% |
| Operating profit (loss) | 9901 | €768 | €10,967 | +€10,199 | +1328.4% |
| Financial income | 75/76B | €121 | €1 | -€120 | -99.5% |
| Recurring financial income | 75 | €121 | €1 | -€120 | -99.5% |
| Financial charges | 65/66B | €3,523 | €1,430 | -€2,092 | -59.4% |
| Recurring financial charges | 65 | €3,523 | €1,430 | -€2,092 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,634 | €9,537 | +€12,171 | |
| Income taxes | 67/77 | €3,098 | €4,887 | +€1,789 | +57.7% |
| Profit (loss) for the period | 9904 | -€5,732 | €4,650 | +€10,382 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,732 | €4,650 | +€10,382 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.