VASCO BOUWMAT: 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.
VASCO BOUWMAT
Largest movements
- Stocks and contracts +€125,500
up €125,500 (+21.3%), from €589,069 to €714,569
- Receivables within one year +€108,765
up €108,765 (+72.4%), from €150,267 to €259,032
of which Trade receivables: +€72,479
- Cash +€63,325
up €63,325 (+29.3%), from €215,937 to €279,262
mainly Net result for the year (+€216,420) and Depreciation (+€128,740)
- Profit (loss) carried forward +€216,420
up €216,420 (+21.0%), from €1.0m to €1.2m
- Debts after one year +€110,252
up €110,252 (+7.3%), from €1.5m to €1.6m
- Other debts -€80,000
no longer reported in 2025 (was €80,000)
- Turnover +€728,364
up €728,364 (+12.6%), from €5.8m to €6.5m
- Purchases and services +€677,366
up €677,366 (+13.3%), from €5.1m to €5.8m
- Taxes -€158,471
no longer reported in 2025 (was €158,471)
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 | €2,845,905 | €3,136,744 | +€290,839 | +10.2% |
| Fixed assets | 21/28 | €1,890,632 | €1,883,881 | -€6,751 | -0.4% |
| Tangible fixed assets | 22/27 | €1,890,632 | €1,883,881 | -€6,751 | -0.4% |
| Land and buildings | 22 | €1,760,813 | €1,710,141 | -€50,672 | -2.9% |
| Plant, machinery and equipment | 23 | €113,050 | €97,690 | -€15,360 | -13.6% |
| Furniture and vehicles | 24 | €16,769 | €40,313 | +€23,544 | +140% |
| Leasing and similar rights | 25 | - | €35,737 | +€35,737 | |
| Current assets | 29/58 | €955,272 | €1,252,863 | +€297,590 | +31.2% |
| Stocks and contracts in progress | 3 | €589,069 | €714,569 | +€125,500 | +21.3% |
| Stocks | 30/36 | €589,069 | €714,569 | +€125,500 | +21.3% |
| Amounts receivable within one year | 40/41 | €150,267 | €259,032 | +€108,765 | +72.4% |
| Trade receivables | 40 | €122,767 | €195,246 | +€72,479 | +59.0% |
| Other amounts receivable | 41 | €27,500 | €63,786 | +€36,286 | +132% |
| Cash at bank and in hand | 54/58 | €215,937 | €279,262 | +€63,325 | +29.3% |
| Total equity and liabilities | 10/49 | €2,845,905 | €3,136,744 | +€290,839 | +10.2% |
| Equity | 10/15 | €1,094,961 | €1,311,381 | +€216,420 | +19.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Share premium | 1100/10 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,031,102 | €1,247,522 | +€216,420 | +21.0% |
| Amounts payable | 17/49 | €1,750,944 | €1,825,363 | +€74,419 | +4.3% |
| Amounts payable after more than one year | 17 | €1,510,625 | €1,620,877 | +€110,252 | +7.3% |
| Financial debts | 170/4 | €1,510,625 | €1,620,877 | +€110,252 | +7.3% |
| Amounts payable within one year | 42/48 | €240,319 | €204,485 | -€35,833 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €110,717 | €133,229 | +€22,512 | +20.3% |
| Trade debts | 44 | €21,224 | €40,514 | +€19,291 | +90.9% |
| Suppliers | 440/4 | €21,224 | €40,514 | +€19,291 | +90.9% |
| Taxes, remuneration and social security | 45 | €28,378 | €30,742 | +€2,364 | +8.3% |
| Taxes | 450/3 | €28,378 | €30,742 | +€2,364 | +8.3% |
| Other amounts payable | 47/48 | €80,000 | - | -€80,000 | |
| Turnover | 70 | €5,766,194 | €6,494,558 | +€728,364 | +12.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €5,091,029 | €5,768,395 | +€677,366 | +13.3% |
| Remuneration, social security and pensions | 62 | €233,049 | €272,400 | +€39,352 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,228 | €128,740 | +€63,512 | +97.4% |
| Other operating charges | 640/8 | €16,733 | €24,598 | +€7,864 | +47.0% |
| Gross operating margin | 9900 | €702,851 | €726,354 | +€23,503 | +3.3% |
| Operating profit (loss) | 9901 | €387,841 | €300,616 | -€87,226 | -22.5% |
| Financial income | 75/76B | €8,533 | €5,062 | -€3,472 | -40.7% |
| Recurring financial income | 75 | €8,533 | €5,062 | -€3,472 | -40.7% |
| Financial charges | 65/66B | €66,567 | €89,257 | +€22,691 | +34.1% |
| Recurring financial charges | 65 | €66,567 | €89,257 | +€22,691 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €329,808 | €216,420 | -€113,388 | -34.4% |
| Income taxes | 67/77 | €158,471 | - | -€158,471 | |
| Profit (loss) for the period | 9904 | €171,337 | €216,420 | +€45,083 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €171,337 | €216,420 | +€45,083 | +26.3% |
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 23 October 2026 via checked.be.