VCD CONSTRUCT: 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.
VCD CONSTRUCT
Largest movements
- Receivables within one year +€43,525
up €43,525 (+108%), from €40,367 to €83,891
of which Trade receivables: +€47,874
- Cash -€33,482
down €33,482 (-81.0%), from €41,316 to €7,834
mainly Receivables within one year (-€43,525) and Investment in fixed assets (net) (-€27,001)
- Tangible fixed assets +€8,497
up €8,497 (+22.4%), from €37,916 to €46,414
of which Furniture and vehicles: +€7,392
- Debts after one year +€37,699
new in 2025: €37,699
- Short-term financial debts -€27,000
no longer reported in 2025 (was €27,000)
- Trade debts +€5,039
up €5,039 (+18.3%), from €27,586 to €32,624
- Profit (loss) carried forward +€3,884
up €3,884 (+7.6%), from €50,954 to €54,839
- Tax, wage and social debts -€1,521
down €1,521 (-11.8%), from €12,890 to €11,369
- Purchases and services +€36,825
up €36,825 (+10.3%), from €356,599 to €393,424
- Gross operating margin -€18,125
down €18,125 (-45.1%), from €40,155 to €22,030
- Turnover +€16,274
up €16,274 (+4.1%), from €396,644 to €412,918
- Depreciation +€7,746
up €7,746 (+72.0%), from €10,758 to €18,504
- Financial income +€5,685
up €5,685 (+5,566%), from €102 to €5,787
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 | €119,599 | €138,139 | +€18,540 | +15.5% |
| Fixed assets | 21/28 | €37,916 | €46,414 | +€8,497 | +22.4% |
| Tangible fixed assets | 22/27 | €37,916 | €46,414 | +€8,497 | +22.4% |
| Plant, machinery and equipment | 23 | €4,786 | €5,891 | +€1,105 | +23.1% |
| Furniture and vehicles | 24 | €33,130 | €40,523 | +€7,392 | +22.3% |
| Current assets | 29/58 | €81,683 | €91,726 | +€10,043 | +12.3% |
| Amounts receivable within one year | 40/41 | €40,367 | €83,891 | +€43,525 | +108% |
| Trade receivables | 40 | €24,336 | €72,210 | +€47,874 | +197% |
| Other amounts receivable | 41 | €16,031 | €11,681 | -€4,350 | -27.1% |
| Cash at bank and in hand | 54/58 | €41,316 | €7,834 | -€33,482 | -81.0% |
| Total equity and liabilities | 10/49 | €119,599 | €138,139 | +€18,540 | +15.5% |
| Equity | 10/15 | €51,954 | €55,839 | +€3,884 | +7.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,954 | €54,839 | +€3,884 | +7.6% |
| Amounts payable | 17/49 | €67,645 | €82,301 | +€14,656 | +21.7% |
| Amounts payable after more than one year | 17 | - | €37,699 | +€37,699 | |
| Financial debts | 170/4 | - | €37,699 | +€37,699 | |
| Amounts payable within one year | 42/48 | €67,645 | €44,602 | -€23,042 | -34.1% |
| Financial debts | 43 | €27,000 | - | -€27,000 | |
| Credit institutions | 430/8 | €27,000 | - | -€27,000 | |
| Trade debts | 44 | €27,586 | €32,624 | +€5,039 | +18.3% |
| Suppliers | 440/4 | €27,586 | €32,624 | +€5,039 | +18.3% |
| Taxes, remuneration and social security | 45 | €12,890 | €11,369 | -€1,521 | -11.8% |
| Taxes | 450/3 | €12,890 | €11,369 | -€1,521 | -11.8% |
| Other amounts payable | 47/48 | €169 | €609 | +€440 | +261% |
| Turnover | 70 | €396,644 | €412,918 | +€16,274 | +4.1% |
| Non-recurring operating income | 76A | €111 | €2,536 | +€2,425 | +2,194% |
| Goods, raw materials, services and sundry goods | 60/61 | €356,599 | €393,424 | +€36,825 | +10.3% |
| Remuneration, social security and pensions | 62 | €717 | €296 | -€420 | -58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,758 | €18,504 | +€7,746 | +72.0% |
| Other operating charges | 640/8 | €551 | €1,367 | +€816 | +148% |
| Gross operating margin | 9900 | €40,155 | €22,030 | -€18,125 | -45.1% |
| Operating profit (loss) | 9901 | €28,129 | €1,862 | -€26,267 | -93.4% |
| Financial income | 75/76B | €102 | €5,787 | +€5,685 | +5,566% |
| Recurring financial income | 75 | €102 | €5,787 | +€5,685 | +5,566% |
| Financial charges | 65/66B | €161 | €753 | +€592 | +367% |
| Recurring financial charges | 65 | €161 | €753 | +€592 | +367% |
| Profit (loss) for the period before taxes | 9903 | €28,070 | €6,896 | -€21,174 | -75.4% |
| Income taxes | 67/77 | €5,676 | €3,012 | -€2,665 | -46.9% |
| Profit (loss) for the period | 9904 | €22,394 | €3,884 | -€18,510 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,394 | €3,884 | -€18,510 | -82.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.