VCN.BE 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.
VCN.BE CONSTRUCT
Largest movements
- Receivables within one year +€25,006
up €25,006 (+119.2%), from €20,972 to €45,978
of which Trade receivables: +€25,201
- Cash +€7,297
up €7,297 (+8.7%), from €83,553 to €90,851
mainly Net result for the year (+€23,403) and Trade debts (+€17,503)
- Profit (loss) carried forward +€23,403
up €23,403 (+38.6%), from €60,602 to €84,005
- Trade debts +€17,503
up €17,503 (+692.0%), from €2,529 to €20,033
- Tax, wage and social debts -€8,603
down €8,603 (-52.5%), from €16,394 to €7,791
- Turnover -€196,304
no longer reported in 2025 (was €196,304)
- Purchases and services -€131,674
no longer reported in 2025 (was €131,674)
- Gross operating margin -€33,228
down €33,228 (-51.4%), from €64,630 to €31,402
- Taxes -€8,603
down €8,603 (-52.5%), from €16,394 to €7,791
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 | €104,525 | €136,828 | +€32,303 | +30.9% |
| Current assets | 29/58 | €104,525 | €136,828 | +€32,303 | +30.9% |
| Amounts receivable within one year | 40/41 | €20,972 | €45,978 | +€25,006 | +119.2% |
| Trade receivables | 40 | €20,549 | €45,750 | +€25,201 | +122.6% |
| Other amounts receivable | 41 | €423 | €228 | -€195 | -46.1% |
| Cash at bank and in hand | 54/58 | €83,553 | €90,851 | +€7,297 | +8.7% |
| Total equity and liabilities | 10/49 | €104,525 | €136,828 | +€32,303 | +30.9% |
| Equity | 10/15 | €85,602 | €109,005 | +€23,403 | +27.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,602 | €84,005 | +€23,403 | +38.6% |
| Amounts payable | 17/49 | €18,923 | €27,823 | +€8,900 | +47.0% |
| Amounts payable within one year | 42/48 | €18,923 | €27,823 | +€8,900 | +47.0% |
| Trade debts | 44 | €2,529 | €20,033 | +€17,503 | +692.0% |
| Suppliers | 440/4 | €2,529 | €20,033 | +€17,503 | +692.0% |
| Taxes, remuneration and social security | 45 | €16,394 | €7,791 | -€8,603 | -52.5% |
| Taxes | 450/3 | €16,394 | €7,791 | -€8,603 | -52.5% |
| Turnover | 70 | €196,304 | - | -€196,304 | |
| Goods, raw materials, services and sundry goods | 60/61 | €131,674 | - | -€131,674 | |
| Gross operating margin | 9900 | €64,630 | €31,402 | -€33,228 | -51.4% |
| Operating profit (loss) | 9901 | €64,630 | €31,402 | -€33,228 | -51.4% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €102 | €208 | +€106 | +103.7% |
| Recurring financial charges | 65 | €102 | €208 | +€106 | +103.7% |
| Profit (loss) for the period before taxes | 9903 | €64,529 | €31,194 | -€33,335 | -51.7% |
| Income taxes | 67/77 | €16,394 | €7,791 | -€8,603 | -52.5% |
| Profit (loss) for the period | 9904 | €48,135 | €23,403 | -€24,732 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,135 | €23,403 | -€24,732 | -51.4% |
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 1 October 2026 via checked.be.