VDD 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.
VDD CONSTRUCT
Largest movements
- Tangible fixed assets -€59,222
down €59,222 (-9.1%), from €652,653 to €593,431
of which Land and buildings: -€31,155
- Cash +€18,306
up €18,306 (+79.6%), from €23,004 to €41,310
mainly Depreciation (+€61,864) and Net result for the year (+€27,875)
- Receivables within one year -€14,730
down €14,730 (-23.8%), from €61,934 to €47,204
of which Trade receivables: -€18,214
- Debts after one year -€57,784
down €57,784 (-17.8%), from €325,464 to €267,679
- Reserves +€27,500
up €27,500 (+11.1%), from €248,860 to €276,360
- Other debts -€27,062
down €27,062 (-96.2%), from €28,118 to €1,057
- Short-term financial debts -€8,750
no longer reported in 2025 (was €8,750)
- Tax, wage and social debts +€8,643
up €8,643 (+98.1%), from €8,812 to €17,455
- Gross operating margin -€27,802
down €27,802 (-18.3%), from €152,022 to €124,220
- Taxes -€5,770
down €5,770 (-25.6%), from €22,532 to €16,762
- Depreciation +€5,510
up €5,510 (+9.8%), from €56,354 to €61,864
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 | €737,591 | €681,945 | -€55,646 | -7.5% |
| Fixed assets | 21/28 | €652,653 | €593,431 | -€59,222 | -9.1% |
| Tangible fixed assets | 22/27 | €652,653 | €593,431 | -€59,222 | -9.1% |
| Land and buildings | 22 | €501,575 | €470,420 | -€31,155 | -6.2% |
| Plant, machinery and equipment | 23 | €4,944 | €2,442 | -€2,503 | -50.6% |
| Furniture and vehicles | 24 | €83,918 | €64,361 | -€19,557 | -23.3% |
| Leasing and similar rights | 25 | €62,216 | €56,208 | -€6,008 | -9.7% |
| Current assets | 29/58 | €84,938 | €88,514 | +€3,576 | +4.2% |
| Amounts receivable within one year | 40/41 | €61,934 | €47,204 | -€14,730 | -23.8% |
| Trade receivables | 40 | €58,216 | €40,002 | -€18,214 | -31.3% |
| Other amounts receivable | 41 | €3,717 | €7,201 | +€3,484 | +93.7% |
| Cash at bank and in hand | 54/58 | €23,004 | €41,310 | +€18,306 | +79.6% |
| Total equity and liabilities | 10/49 | €737,591 | €681,945 | -€55,646 | -7.5% |
| Equity | 10/15 | €279,310 | €307,185 | +€27,875 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,860 | €276,360 | +€27,500 | +11.1% |
| Distributable reserves | 133 | €248,860 | €276,360 | +€27,500 | +11.1% |
| Profit (loss) carried forward | 14 | €11,850 | €12,225 | +€375 | +3.2% |
| Amounts payable | 17/49 | €458,280 | €374,760 | -€83,520 | -18.2% |
| Amounts payable after more than one year | 17 | €325,464 | €267,679 | -€57,784 | -17.8% |
| Financial debts | 170/4 | €325,464 | €267,679 | -€57,784 | -17.8% |
| Amounts payable within one year | 42/48 | €132,817 | €107,081 | -€25,736 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €60,218 | €57,784 | -€2,434 | -4.0% |
| Financial debts | 43 | €8,750 | - | -€8,750 | |
| Credit institutions | 430/8 | €8,750 | - | -€8,750 | |
| Trade debts | 44 | €26,918 | €30,784 | +€3,867 | +14.4% |
| Suppliers | 440/4 | €26,918 | €30,784 | +€3,867 | +14.4% |
| Taxes, remuneration and social security | 45 | €8,812 | €17,455 | +€8,643 | +98.1% |
| Taxes | 450/3 | €8,812 | €17,455 | +€8,643 | +98.1% |
| Other amounts payable | 47/48 | €28,118 | €1,057 | -€27,062 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,354 | €61,864 | +€5,510 | +9.8% |
| Other operating charges | 640/8 | €6,283 | €6,059 | -€224 | -3.6% |
| Gross operating margin | 9900 | €152,022 | €124,220 | -€27,802 | -18.3% |
| Operating profit (loss) | 9901 | €89,385 | €56,296 | -€33,089 | -37.0% |
| Financial income | 75/76B | €146 | €34 | -€112 | -77.0% |
| Recurring financial income | 75 | €146 | €34 | -€112 | -77.0% |
| Financial charges | 65/66B | €11,867 | €11,693 | -€175 | -1.5% |
| Recurring financial charges | 65 | €11,867 | €11,693 | -€175 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €77,663 | €44,637 | -€33,027 | -42.5% |
| Income taxes | 67/77 | €22,532 | €16,762 | -€5,770 | -25.6% |
| Profit (loss) for the period | 9904 | €55,131 | €27,875 | -€27,257 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,131 | €27,875 | -€27,257 | -49.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.