VASIN 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.
VASIN CONSTRUCT
Largest movements
- Receivables within one year -€23,250
down €23,250 (-36.6%), from €63,544 to €40,294
of which Trade receivables: -€24,459
- Cash -€10,329
down €10,329 (-16.5%), from €62,626 to €52,297
mainly Other debts (-€43,925) and Trade debts (-€16,339)
- Tangible fixed assets +€6,903
up €6,903 (+868.3%), from €795 to €7,698
- Other debts -€43,925
no longer reported in 2025 (was €43,925)
- Accrued charges and deferred income +€31,714
new in 2025: €31,714
- Trade debts -€16,339
down €16,339 (-34.0%), from €48,085 to €31,746
of which Bills of exchange payable: -€48,085
- Tax, wage and social debts +€2,035
up €2,035 (+32.0%), from €6,360 to €8,395
of which Taxes: +€1,060
- Gross operating margin -€9,468
down €9,468 (-51.4%), from €18,430 to €8,962
- Financial charges +€1,958
up €1,958 (+4775.6%), from €41 to €1,999
- Depreciation +€1,651
up €1,651 (+11006.7%), from €15 to €1,666
- Taxes +€366
up €366 (+9.0%), from €4,075 to €4,441
- Other operating charges +€190
new in 2025: €190
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 | €126,965 | €101,115 | -€25,850 | -20.4% |
| Fixed assets | 21/28 | €795 | €7,698 | +€6,903 | +868.3% |
| Tangible fixed assets | 22/27 | €795 | €7,698 | +€6,903 | +868.3% |
| Furniture and vehicles | 24 | €795 | €7,698 | +€6,903 | +868.3% |
| Current assets | 29/58 | €126,170 | €93,417 | -€32,753 | -26.0% |
| Amounts receivable within one year | 40/41 | €63,544 | €40,294 | -€23,250 | -36.6% |
| Trade receivables | 40 | €61,855 | €37,396 | -€24,459 | -39.5% |
| Other amounts receivable | 41 | €1,689 | €2,898 | +€1,209 | +71.6% |
| Cash at bank and in hand | 54/58 | €62,626 | €52,297 | -€10,329 | -16.5% |
| Deferred charges and accrued income | 490/1 | - | €826 | +€826 | |
| Total equity and liabilities | 10/49 | €126,965 | €101,115 | -€25,850 | -20.4% |
| Equity | 10/15 | €28,595 | €29,260 | +€665 | +2.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Legal reserve | 130 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,495 | €28,160 | +€665 | +2.4% |
| Amounts payable | 17/49 | €98,370 | €71,855 | -€26,515 | -27.0% |
| Amounts payable within one year | 42/48 | €98,370 | €40,141 | -€58,229 | -59.2% |
| Trade debts | 44 | €48,085 | €31,746 | -€16,339 | -34.0% |
| Suppliers | 440/4 | - | €31,746 | +€31,746 | |
| Bills of exchange payable | 441 | €48,085 | - | -€48,085 | |
| Taxes, remuneration and social security | 45 | €6,360 | €8,395 | +€2,035 | +32.0% |
| Taxes | 450/3 | €3,674 | €4,734 | +€1,060 | +28.9% |
| Remuneration and social security | 454/9 | €2,686 | €3,661 | +€975 | +36.3% |
| Other amounts payable | 47/48 | €43,925 | - | -€43,925 | |
| Accrued charges and deferred income | 492/3 | - | €31,714 | +€31,714 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15 | €1,666 | +€1,651 | +11006.7% |
| Other operating charges | 640/8 | - | €190 | +€190 | |
| Gross operating margin | 9900 | €18,430 | €8,962 | -€9,468 | -51.4% |
| Operating profit (loss) | 9901 | €18,415 | €7,106 | -€11,309 | -61.4% |
| Financial charges | 65/66B | €41 | €1,999 | +€1,958 | +4775.6% |
| Recurring financial charges | 65 | €41 | €1,999 | +€1,958 | +4775.6% |
| Profit (loss) for the period before taxes | 9903 | €18,374 | €5,107 | -€13,267 | -72.2% |
| Income taxes | 67/77 | €4,075 | €4,441 | +€366 | +9.0% |
| Profit (loss) for the period | 9904 | €14,299 | €666 | -€13,633 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,299 | €666 | -€13,633 | -95.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.