VDBCONSTRUCT: 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.
VDBCONSTRUCT
Largest movements
- Tangible fixed assets +€15,125
up €15,125 (+82.2%), from €18,391 to €33,516
of which Furniture and vehicles: +€21,033
- Cash +€11,597
up €11,597 (+39.8%), from €29,122 to €40,719
mainly Net result for the year (+€24,497) and Depreciation (+€12,900)
- Deferred charges and accrued income +€10,163
up €10,163 (+4131.4%), from €246 to €10,409
- Receivables within one year +€2,336
up €2,336 (+14.9%), from €15,686 to €18,021
of which Other amounts receivable: +€2,543
- Reserves +€17,438
up €17,438 (+38.1%), from €45,717 to €63,155
- Debts after one year +€11,293
up €11,293 (+168.0%), from €6,721 to €18,014
- Other debts +€7,059
up €7,059, from €0 to €7,059
- Current portion of long-term debt +€4,961
up €4,961 (+109.6%), from €4,526 to €9,487
- Gross operating margin +€18,440
up €18,440 (+67.3%), from €27,400 to €45,840
- Other operating charges -€10,861
down €10,861 (-93.6%), from €11,607 to €746
- Depreciation +€4,690
up €4,690 (+57.1%), from €8,210 to €12,900
- Taxes +€4,171
up €4,171 (+248.7%), from €1,677 to €5,848
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 | €63,445 | €102,665 | +€39,221 | +61.8% |
| Fixed assets | 21/28 | €18,391 | €33,516 | +€15,125 | +82.2% |
| Tangible fixed assets | 22/27 | €18,391 | €33,516 | +€15,125 | +82.2% |
| Plant, machinery and equipment | 23 | €16,930 | €11,022 | -€5,908 | -34.9% |
| Furniture and vehicles | 24 | €1,461 | €22,494 | +€21,033 | +1439.9% |
| Current assets | 29/58 | €45,053 | €69,149 | +€24,096 | +53.5% |
| Amounts receivable within one year | 40/41 | €15,686 | €18,021 | +€2,336 | +14.9% |
| Trade receivables | 40 | €10,890 | €10,682 | -€208 | -1.9% |
| Other amounts receivable | 41 | €4,796 | €7,339 | +€2,543 | +53.0% |
| Cash at bank and in hand | 54/58 | €29,122 | €40,719 | +€11,597 | +39.8% |
| Deferred charges and accrued income | 490/1 | €246 | €10,409 | +€10,163 | +4131.4% |
| Total equity and liabilities | 10/49 | €63,445 | €102,665 | +€39,221 | +61.8% |
| Equity | 10/15 | €46,717 | €64,155 | +€17,438 | +37.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,717 | €63,155 | +€17,438 | +38.1% |
| Distributable reserves | 133 | €45,717 | €63,155 | +€17,438 | +38.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €16,727 | €38,510 | +€21,783 | +130.2% |
| Amounts payable after more than one year | 17 | €6,721 | €18,014 | +€11,293 | +168.0% |
| Financial debts | 170/4 | €6,721 | €18,014 | +€11,293 | +168.0% |
| Amounts payable within one year | 42/48 | €10,007 | €20,497 | +€10,490 | +104.8% |
| Current portion of amounts payable after more than one year | 42 | €4,526 | €9,487 | +€4,961 | +109.6% |
| Trade debts | 44 | €730 | €0 | -€730 | -100.0% |
| Suppliers | 440/4 | €730 | €0 | -€730 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,751 | €3,951 | -€800 | -16.8% |
| Taxes | 450/3 | €4,751 | €1,951 | -€2,800 | -58.9% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €0 | €7,059 | +€7,059 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,210 | €12,900 | +€4,690 | +57.1% |
| Other operating charges | 640/8 | €11,607 | €746 | -€10,861 | -93.6% |
| Gross operating margin | 9900 | €27,400 | €45,840 | +€18,440 | +67.3% |
| Operating profit (loss) | 9901 | €7,583 | €32,195 | +€24,611 | +324.6% |
| Financial income | 75/76B | €39 | €79 | +€41 | +104.1% |
| Recurring financial income | 75 | €39 | €79 | +€41 | +104.1% |
| Financial charges | 65/66B | €1,951 | €1,929 | -€22 | -1.1% |
| Recurring financial charges | 65 | €1,951 | €1,929 | -€22 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €5,671 | €30,345 | +€24,674 | +435.1% |
| Income taxes | 67/77 | €1,677 | €5,848 | +€4,171 | +248.7% |
| Profit (loss) for the period | 9904 | €3,993 | €24,497 | +€20,503 | +513.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,993 | €24,497 | +€20,503 | +513.4% |
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 4 October 2026 via checked.be.