VDH Constructie: 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.
VDH Constructie
Largest movements
- Cash +€113,976
up €113,976 (+225.1%), from €50,623 to €164,599
mainly Depreciation (+€121,239) and Net result for the year (+€79,666)
- Tangible fixed assets -€111,277
down €111,277 (-13.8%), from €807,028 to €695,751
of which Plant, machinery and equipment: -€62,669
- Receivables within one year +€51,768
up €51,768 (+31.2%), from €166,140 to €217,908
of which Trade receivables: +€28,272
- Stocks and contracts -€27,763
down €27,763 (-18.7%), from €148,325 to €120,562
of which Contracts in progress: -€28,493
- Debts after one year -€139,539
down €139,539 (-29.3%), from €476,469 to €336,930
- Reserves +€78,666
up €78,666 (+22.6%), from €347,606 to €426,272
- Short-term financial debts +€40,000
new in 2025: €40,000
- Trade debts +€27,005
up €27,005 (+68.2%), from €39,611 to €66,617
- Gross operating margin +€108,821
up €108,821 (+31.6%), from €344,133 to €452,953
- Staff costs +€34,264
up €34,264 (+22.0%), from €156,100 to €190,365
- Taxes +€21,483
up €21,483 (+214.4%), from €10,021 to €31,504
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 | €1,180,757 | €1,206,236 | +€25,479 | +2.2% |
| Fixed assets | 21/28 | €813,484 | €698,684 | -€114,800 | -14.1% |
| Intangible fixed assets | 21 | €5,906 | €2,383 | -€3,523 | -59.7% |
| Tangible fixed assets | 22/27 | €807,028 | €695,751 | -€111,277 | -13.8% |
| Land and buildings | 22 | €616,550 | €589,527 | -€27,023 | -4.4% |
| Plant, machinery and equipment | 23 | €112,696 | €50,027 | -€62,669 | -55.6% |
| Furniture and vehicles | 24 | €77,781 | €56,197 | -€21,585 | -27.8% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €367,273 | €507,552 | +€140,279 | +38.2% |
| Stocks and contracts in progress | 3 | €148,325 | €120,562 | -€27,763 | -18.7% |
| Stocks | 30/36 | €117,974 | €118,704 | +€730 | +0.6% |
| Contracts in progress | 37 | €30,350 | €1,858 | -€28,493 | -93.9% |
| Amounts receivable within one year | 40/41 | €166,140 | €217,908 | +€51,768 | +31.2% |
| Trade receivables | 40 | €151,162 | €179,433 | +€28,272 | +18.7% |
| Other amounts receivable | 41 | €14,979 | €38,475 | +€23,496 | +156.9% |
| Cash at bank and in hand | 54/58 | €50,623 | €164,599 | +€113,976 | +225.1% |
| Deferred charges and accrued income | 490/1 | €2,185 | €4,483 | +€2,298 | +105.1% |
| Total equity and liabilities | 10/49 | €1,180,757 | €1,206,236 | +€25,479 | +2.2% |
| Equity | 10/15 | €353,806 | €432,472 | +€78,666 | +22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €347,606 | €426,272 | +€78,666 | +22.6% |
| Distributable reserves | 133 | €347,606 | €426,272 | +€78,666 | +22.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €826,952 | €773,764 | -€53,187 | -6.4% |
| Amounts payable after more than one year | 17 | €476,469 | €336,930 | -€139,539 | -29.3% |
| Financial debts | 170/4 | €476,469 | €336,930 | -€139,539 | -29.3% |
| Amounts payable within one year | 42/48 | €342,339 | €428,877 | +€86,537 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €138,335 | €139,539 | +€1,205 | +0.9% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €39,611 | €66,617 | +€27,005 | +68.2% |
| Suppliers | 440/4 | €39,611 | €66,617 | +€27,005 | +68.2% |
| Taxes, remuneration and social security | 45 | €61,529 | €69,581 | +€8,053 | +13.1% |
| Taxes | 450/3 | €18,844 | €14,134 | -€4,710 | -25.0% |
| Remuneration and social security | 454/9 | €42,685 | €55,448 | +€12,763 | +29.9% |
| Other amounts payable | 47/48 | €102,865 | €113,140 | +€10,275 | +10.0% |
| Accrued charges and deferred income | 492/3 | €8,143 | €7,958 | -€185 | -2.3% |
| Remuneration, social security and pensions | 62 | €156,100 | €190,365 | +€34,264 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,851 | €121,239 | +€3,388 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,355 | €0 | -€4,355 | -100.0% |
| Other operating charges | 640/8 | €5,836 | €7,260 | +€1,424 | +24.4% |
| Gross operating margin | 9900 | €344,133 | €452,953 | +€108,821 | +31.6% |
| Operating profit (loss) | 9901 | €59,990 | €134,090 | +€74,099 | +123.5% |
| Financial income | 75/76B | €3,470 | €1,451 | -€2,019 | -58.2% |
| Recurring financial income | 75 | €3,470 | €1,451 | -€2,019 | -58.2% |
| Financial charges | 65/66B | €27,710 | €24,370 | -€3,340 | -12.1% |
| Recurring financial charges | 65 | €27,710 | €24,370 | -€3,340 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €35,750 | €111,170 | +€75,420 | +211.0% |
| Income taxes | 67/77 | €10,021 | €31,504 | +€21,483 | +214.4% |
| Profit (loss) for the period | 9904 | €25,729 | €79,666 | +€53,938 | +209.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,729 | €79,666 | +€53,938 | +209.6% |
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 12 October 2026 via checked.be.