VD Build & Projects: 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 Build & Projects
Largest movements
- Cash +€6,896
up €6,896 (+535.9%), from €1,287 to €8,183
mainly Stocks and contracts (+€3,825) and Receivables within one year (+€2,256)
- Stocks and contracts -€3,825
no longer reported in 2025 (was €3,825)
- Receivables within one year -€2,256
down €2,256 (-22.6%), from €10,000 to €7,744
- Other debts -€3,089
down €3,089 (-62.5%), from €4,940 to €1,851
- Tax, wage and social debts +€2,015
up €2,015 (+108.9%), from €1,850 to €3,865
of which Remuneration and social security: +€2,500
- Profit (loss) carried forward +€1,455
up €1,455 (+6.4%), from -€22,772 to -€21,317
- Trade debts +€457
up €457 (+59.8%), from €764 to €1,221
- Taxes -€163
no longer reported in 2025 (was €163)
- Financial charges +€121
up €121 (+68.7%), from €175 to €296
- Gross operating margin -€115
down €115 (-5.1%), from €2,276 to €2,161
- Financial income -€35
no longer reported in 2025 (was €35)
- Other operating charges -€23
down €23 (-5.4%), from €433 to €410
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 | €15,204 | €16,019 | +€815 | +5.4% |
| Current assets | 29/58 | €15,204 | €16,019 | +€815 | +5.4% |
| Stocks and contracts in progress | 3 | €3,825 | - | -€3,825 | |
| Contracts in progress | 37 | €3,825 | - | -€3,825 | |
| Amounts receivable within one year | 40/41 | €10,000 | €7,744 | -€2,256 | -22.6% |
| Trade receivables | 40 | €10,000 | €7,744 | -€2,256 | -22.6% |
| Cash at bank and in hand | 54/58 | €1,287 | €8,183 | +€6,896 | +535.9% |
| Deferred charges and accrued income | 490/1 | €92 | €92 | = | 0.0% |
| Total equity and liabilities | 10/49 | €15,204 | €16,019 | +€815 | +5.4% |
| Equity | 10/15 | €7,217 | €8,672 | +€1,455 | +20.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,589 | €17,589 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,239 | €1,239 | = | 0.0% |
| Legal reserve | 130 | €1,239 | €1,239 | = | 0.0% |
| Distributable reserves | 133 | €16,350 | €16,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,772 | -€21,317 | +€1,455 | +6.4% |
| Amounts payable | 17/49 | €7,987 | €7,346 | -€641 | -8.0% |
| Amounts payable within one year | 42/48 | €7,554 | €6,937 | -€617 | -8.2% |
| Trade debts | 44 | €764 | €1,221 | +€457 | +59.8% |
| Suppliers | 440/4 | €764 | €1,221 | +€457 | +59.8% |
| Taxes, remuneration and social security | 45 | €1,850 | €3,865 | +€2,015 | +108.9% |
| Taxes | 450/3 | €1,850 | €1,365 | -€485 | -26.2% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €4,940 | €1,851 | -€3,089 | -62.5% |
| Accrued charges and deferred income | 492/3 | €433 | €410 | -€23 | -5.4% |
| Other operating charges | 640/8 | €433 | €410 | -€23 | -5.4% |
| Gross operating margin | 9900 | €2,276 | €2,161 | -€115 | -5.1% |
| Operating profit (loss) | 9901 | €1,843 | €1,751 | -€92 | -5.0% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €175 | €296 | +€121 | +68.7% |
| Recurring financial charges | 65 | €175 | €296 | +€121 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | €1,703 | €1,455 | -€248 | -14.5% |
| Income taxes | 67/77 | €163 | - | -€163 | |
| Profit (loss) for the period | 9904 | €1,541 | €1,455 | -€85 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,541 | €1,455 | -€85 | -5.5% |
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 11 October 2026 via checked.be.