VAZ 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.
VAZ CONSTRUCT
Largest movements
- Cash -€11,377
down €11,377 (-47.1%), from €24,146 to €12,769
mainly Net result for the year (-€16,061) and Other debts (-€687)
- Receivables within one year -€4,240
down €4,240 (-44.7%), from €9,488 to €5,248
of which Trade receivables: -€4,641
- Profit (loss) carried forward -€16,061
down €16,061 (-63.5%), from €25,287 to €9,226
- Trade debts +€1,130
up €1,130 (+483.2%), from €234 to €1,364
- Other debts -€687
down €687 (-71.0%), from €968 to €281
- Gross operating margin -€46,606
down €46,606, from €30,808 to -€15,798
- Taxes -€6,146
no longer reported in 2025 (was €6,146)
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 | €33,634 | €18,017 | -€15,617 | -46.4% |
| Current assets | 29/58 | €33,634 | €18,017 | -€15,617 | -46.4% |
| Amounts receivable within one year | 40/41 | €9,488 | €5,248 | -€4,240 | -44.7% |
| Trade receivables | 40 | €8,535 | €3,894 | -€4,641 | -54.4% |
| Other amounts receivable | 41 | €953 | €1,354 | +€401 | +42.1% |
| Cash at bank and in hand | 54/58 | €24,146 | €12,769 | -€11,377 | -47.1% |
| Total equity and liabilities | 10/49 | €33,634 | €18,017 | -€15,617 | -46.4% |
| Equity | 10/15 | €26,287 | €10,226 | -€16,061 | -61.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,287 | €9,226 | -€16,061 | -63.5% |
| Amounts payable | 17/49 | €7,348 | €7,791 | +€443 | +6.0% |
| Amounts payable within one year | 42/48 | €7,348 | €7,791 | +€443 | +6.0% |
| Trade debts | 44 | €234 | €1,364 | +€1,130 | +483.2% |
| Suppliers | 440/4 | €234 | €1,364 | +€1,130 | +483.2% |
| Taxes, remuneration and social security | 45 | €6,146 | €6,146 | = | 0.0% |
| Taxes | 450/3 | €6,146 | €6,146 | = | 0.0% |
| Other amounts payable | 47/48 | €968 | €281 | -€687 | -71.0% |
| Other operating charges | 640/8 | - | €158 | +€158 | |
| Gross operating margin | 9900 | €30,808 | -€15,798 | -€46,606 | |
| Operating profit (loss) | 9901 | €30,808 | -€15,956 | -€46,764 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €104 | €105 | +€0 | +0.4% |
| Recurring financial charges | 65 | €104 | €105 | +€0 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €30,703 | -€16,061 | -€46,764 | |
| Income taxes | 67/77 | €6,146 | - | -€6,146 | |
| Profit (loss) for the period | 9904 | €24,558 | -€16,061 | -€40,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,558 | -€16,061 | -€40,618 |
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 4 October 2026 via checked.be.