VBS Bouw: 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.
VBS Bouw
Largest movements
- Receivables within one year -€48,787
down €48,787 (-34.6%), from €141,007 to €92,221
of which Trade receivables: -€43,220
- Cash +€24,621
up €24,621 (+118%), from €20,920 to €45,541
mainly Receivables within one year (+€48,787) and Depreciation (+€22,384)
- Tangible fixed assets -€10,519
down €10,519 (-16.2%), from €64,961 to €54,442
of which Plant, machinery and equipment: -€7,033
- Intangible fixed assets +€8,877
new in 2025: €8,877
- Deferred charges and accrued income +€4,532
up €4,532 (+129%), from €3,526 to €8,059
- Tax, wage and social debts -€11,144
down €11,144 (-54.6%), from €20,402 to €9,259
of which Taxes: -€10,901
- Debts after one year -€7,455
down €7,455 (-6.2%), from €120,981 to €113,525
- Trade debts -€3,342
down €3,342 (-5.9%), from €56,541 to €53,199
- Staff costs +€33,870
up €33,870 (+175%), from €19,358 to €53,228
- Gross operating margin -€13,304
down €13,304 (-14.4%), from €92,509 to €79,204
- Taxes -€9,325
down €9,325 (-94.6%), from €9,862 to €537
- Depreciation +€6,575
up €6,575 (+41.6%), from €15,810 to €22,384
- Financial charges -€3,799
down €3,799 (-57.2%), from €6,638 to €2,839
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 | €249,240 | €226,683 | -€22,557 | -9.1% |
| Fixed assets | 21/28 | €71,611 | €69,968 | -€1,643 | -2.3% |
| Intangible fixed assets | 21 | - | €8,877 | +€8,877 | |
| Tangible fixed assets | 22/27 | €64,961 | €54,442 | -€10,519 | -16.2% |
| Plant, machinery and equipment | 23 | €52,646 | €45,613 | -€7,033 | -13.4% |
| Furniture and vehicles | 24 | €12,315 | €8,829 | -€3,486 | -28.3% |
| Financial fixed assets | 28 | €6,650 | €6,650 | = | 0.0% |
| Current assets | 29/58 | €177,629 | €156,715 | -€20,915 | -11.8% |
| Stocks and contracts in progress | 3 | €12,176 | €10,894 | -€1,281 | -10.5% |
| Stocks | 30/36 | €4,616 | €0 | -€4,616 | -100% |
| Contracts in progress | 37 | €7,560 | €10,894 | +€3,334 | +44.1% |
| Amounts receivable within one year | 40/41 | €141,007 | €92,221 | -€48,787 | -34.6% |
| Trade receivables | 40 | €78,156 | €34,936 | -€43,220 | -55.3% |
| Other amounts receivable | 41 | €62,851 | €57,285 | -€5,567 | -8.9% |
| Cash at bank and in hand | 54/58 | €20,920 | €45,541 | +€24,621 | +118% |
| Deferred charges and accrued income | 490/1 | €3,526 | €8,059 | +€4,532 | +129% |
| Total equity and liabilities | 10/49 | €249,240 | €226,683 | -€22,557 | -9.1% |
| Equity | 10/15 | €43,942 | €42,675 | -€1,267 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,342 | €24,075 | -€1,267 | -5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €25,342 | €24,075 | -€1,267 | -5.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €205,298 | €184,008 | -€21,290 | -10.4% |
| Amounts payable after more than one year | 17 | €120,981 | €113,525 | -€7,455 | -6.2% |
| Financial debts | 170/4 | €120,981 | €113,525 | -€7,455 | -6.2% |
| Amounts payable within one year | 42/48 | €84,318 | €69,913 | -€14,404 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €7,374 | €7,455 | +€81 | +1.1% |
| Trade debts | 44 | €56,541 | €53,199 | -€3,342 | -5.9% |
| Suppliers | 440/4 | €56,541 | €53,199 | -€3,342 | -5.9% |
| Taxes, remuneration and social security | 45 | €20,402 | €9,259 | -€11,144 | -54.6% |
| Taxes | 450/3 | €18,854 | €7,953 | -€10,901 | -57.8% |
| Remuneration and social security | 454/9 | €1,548 | €1,306 | -€243 | -15.7% |
| Accrued charges and deferred income | 492/3 | - | €570 | +€570 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €19,358 | €53,228 | +€33,870 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,810 | €22,384 | +€6,575 | +41.6% |
| Other operating charges | 640/8 | €1,163 | €1,527 | +€364 | +31.3% |
| Gross operating margin | 9900 | €92,509 | €79,204 | -€13,304 | -14.4% |
| Operating profit (loss) | 9901 | €56,178 | €2,065 | -€54,113 | -96.3% |
| Financial income | 75/76B | €1,042 | €43 | -€998 | -95.8% |
| Recurring financial income | 75 | €1,042 | €43 | -€998 | -95.8% |
| Financial charges | 65/66B | €6,638 | €2,839 | -€3,799 | -57.2% |
| Recurring financial charges | 65 | €6,638 | €2,839 | -€3,799 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €50,582 | -€730 | -€51,312 | |
| Income taxes | 67/77 | €9,862 | €537 | -€9,325 | -94.6% |
| Profit (loss) for the period | 9904 | €40,720 | -€1,267 | -€41,987 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,720 | -€1,267 | -€41,987 |
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 30 October 2026 via checked.be.