VD-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.
VD-Bouw
Largest movements
- Receivables within one year -€33,971
down €33,971 (-52.6%), from €64,617 to €30,646
of which Other amounts receivable: -€22,752
- Receivables after one year -€23,860
down €23,860 (-95.7%), from €24,921 to €1,061
- Stocks and contracts +€8,260
up €8,260 (+33.2%), from €24,865 to €33,126
- Tangible fixed assets +€7,644
up €7,644 (+76.5%), from €9,994 to €17,637
of which Plant, machinery and equipment: +€9,598
- Cash -€6,717
down €6,717 (-67.4%), from €9,968 to €3,251
mainly Other debts (-€25,985) and Trade debts (-€22,020)
- Other debts -€25,985
down €25,985 (-58.2%), from €44,683 to €18,698
- Trade debts -€22,020
down €22,020 (-27.6%), from €79,802 to €57,782
- Tax, wage and social debts -€4,140
down €4,140 (-53.4%), from €7,757 to €3,617
of which Taxes: -€5,601
- Other operating charges -€32,663
down €32,663 (-95.7%), from €34,133 to €1,471
- Gross operating margin -€20,957
down €20,957 (-49.3%), from €42,471 to €21,514
- Staff costs +€8,450
up €8,450, from €0 to €8,450
- Depreciation +€971
up €971 (+28.6%), from €3,394 to €4,365
- Financial income -€910
down €910 (-68.3%), from €1,334 to €424
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 | €144,925 | €93,092 | -€51,833 | -35.8% |
| Fixed assets | 21/28 | €16,894 | €24,687 | +€7,794 | +46.1% |
| Tangible fixed assets | 22/27 | €9,994 | €17,637 | +€7,644 | +76.5% |
| Plant, machinery and equipment | 23 | €1,614 | €11,212 | +€9,598 | +595% |
| Furniture and vehicles | 24 | €7,052 | €5,261 | -€1,790 | -25.4% |
| Other tangible fixed assets | 26 | €1,328 | €1,164 | -€164 | -12.3% |
| Financial fixed assets | 28 | €6,900 | €7,050 | +€150 | +2.2% |
| Current assets | 29/58 | €128,031 | €68,404 | -€59,627 | -46.6% |
| Amounts receivable after more than one year | 29 | €24,921 | €1,061 | -€23,860 | -95.7% |
| Other amounts receivable | 291 | €24,921 | €1,061 | -€23,860 | -95.7% |
| Stocks and contracts in progress | 3 | €24,865 | €33,126 | +€8,260 | +33.2% |
| Stocks | 30/36 | €24,865 | €33,126 | +€8,260 | +33.2% |
| Amounts receivable within one year | 40/41 | €64,617 | €30,646 | -€33,971 | -52.6% |
| Trade receivables | 40 | €36,898 | €25,679 | -€11,219 | -30.4% |
| Other amounts receivable | 41 | €27,719 | €4,967 | -€22,752 | -82.1% |
| Cash at bank and in hand | 54/58 | €9,968 | €3,251 | -€6,717 | -67.4% |
| Deferred charges and accrued income | 490/1 | €3,660 | €321 | -€3,339 | -91.2% |
| Total equity and liabilities | 10/49 | €144,925 | €93,092 | -€51,833 | -35.8% |
| Equity | 10/15 | €12,683 | €12,996 | +€312 | +2.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €12,583 | €12,896 | +€312 | +2.5% |
| Distributable reserves | 133 | €12,583 | €12,896 | +€312 | +2.5% |
| Amounts payable | 17/49 | €132,241 | €80,096 | -€52,145 | -39.4% |
| Amounts payable within one year | 42/48 | €132,241 | €80,096 | -€52,145 | -39.4% |
| Trade debts | 44 | €79,802 | €57,782 | -€22,020 | -27.6% |
| Suppliers | 440/4 | €79,802 | €57,782 | -€22,020 | -27.6% |
| Taxes, remuneration and social security | 45 | €7,757 | €3,617 | -€4,140 | -53.4% |
| Taxes | 450/3 | €7,757 | €2,156 | -€5,601 | -72.2% |
| Remuneration and social security | 454/9 | - | €1,460 | +€1,460 | |
| Other amounts payable | 47/48 | €44,683 | €18,698 | -€25,985 | -58.2% |
| Remuneration, social security and pensions | 62 | €0 | €8,450 | +€8,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,394 | €4,365 | +€971 | +28.6% |
| Other operating charges | 640/8 | €34,133 | €1,471 | -€32,663 | -95.7% |
| Gross operating margin | 9900 | €42,471 | €21,514 | -€20,957 | -49.3% |
| Operating profit (loss) | 9901 | €4,943 | €7,228 | +€2,285 | +46.2% |
| Financial income | 75/76B | €1,334 | €424 | -€910 | -68.3% |
| Recurring financial income | 75 | €1,334 | €424 | -€910 | -68.3% |
| Financial charges | 65/66B | €5,050 | €5,732 | +€681 | +13.5% |
| Recurring financial charges | 65 | €5,050 | €5,732 | +€681 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €1,227 | €1,920 | +€693 | +56.5% |
| Income taxes | 67/77 | €1,048 | €1,608 | +€559 | +53.3% |
| Profit (loss) for the period | 9904 | €178 | €312 | +€134 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €178 | €312 | +€134 | +75.2% |
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 20 October 2026 via checked.be.