VDN CONSTRUCTION: 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.
VDN CONSTRUCTION
Largest movements
- Receivables within one year +€21,584
up €21,584 (+987.4%), from €2,186 to €23,769
of which Trade receivables: +€20,875
- Cash -€6,093
down €6,093 (-31.5%), from €19,342 to €13,249
mainly Receivables within one year (-€21,584) and Trade debts (-€1,756)
- Tangible fixed assets -€2,021
down €2,021 (-43.6%), from €4,636 to €2,615
- Reserves +€6,878
up €6,878 (+93.4%), from €7,366 to €14,244
- Tax, wage and social debts +€6,712
up €6,712 (+80.9%), from €8,300 to €15,012
of which Remuneration and social security: +€3,448
- Trade debts -€1,756
down €1,756 (-75.1%), from €2,339 to €583
- Other debts +€1,636
up €1,636 (+51.8%), from €3,158 to €4,794
- Gross operating margin -€22,156
down €22,156 (-36.1%), from €61,436 to €39,280
- Staff costs -€20,847
down €20,847 (-42.3%), from €49,252 to €28,405
- Depreciation -€781
down €781 (-27.9%), from €2,802 to €2,021
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,164 | €39,634 | +€13,470 | +51.5% |
| Fixed assets | 21/28 | €4,636 | €2,615 | -€2,021 | -43.6% |
| Tangible fixed assets | 22/27 | €4,636 | €2,615 | -€2,021 | -43.6% |
| Plant, machinery and equipment | 23 | €4,636 | €2,615 | -€2,021 | -43.6% |
| Current assets | 29/58 | €21,528 | €37,019 | +€15,491 | +72.0% |
| Amounts receivable within one year | 40/41 | €2,186 | €23,769 | +€21,584 | +987.4% |
| Trade receivables | 40 | - | €20,875 | +€20,875 | |
| Other amounts receivable | 41 | €2,186 | €2,894 | +€709 | +32.4% |
| Cash at bank and in hand | 54/58 | €19,342 | €13,249 | -€6,093 | -31.5% |
| Total equity and liabilities | 10/49 | €26,164 | €39,634 | +€13,470 | +51.5% |
| Equity | 10/15 | €12,366 | €19,244 | +€6,878 | +55.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €7,366 | €14,244 | +€6,878 | +93.4% |
| Distributable reserves | 133 | €7,366 | €14,244 | +€6,878 | +93.4% |
| Amounts payable | 17/49 | €13,798 | €20,389 | +€6,592 | +47.8% |
| Amounts payable within one year | 42/48 | €13,798 | €20,389 | +€6,592 | +47.8% |
| Trade debts | 44 | €2,339 | €583 | -€1,756 | -75.1% |
| Suppliers | 440/4 | €2,339 | €583 | -€1,756 | -75.1% |
| Taxes, remuneration and social security | 45 | €8,300 | €15,012 | +€6,712 | +80.9% |
| Taxes | 450/3 | €4,096 | €7,360 | +€3,264 | +79.7% |
| Remuneration and social security | 454/9 | €4,205 | €7,652 | +€3,448 | +82.0% |
| Other amounts payable | 47/48 | €3,158 | €4,794 | +€1,636 | +51.8% |
| Non-recurring operating income | 76A | €110 | €280 | +€170 | +155.0% |
| Remuneration, social security and pensions | 62 | €49,252 | €28,405 | -€20,847 | -42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,802 | €2,021 | -€781 | -27.9% |
| Gross operating margin | 9900 | €61,436 | €39,280 | -€22,156 | -36.1% |
| Operating profit (loss) | 9901 | €9,381 | €8,853 | -€528 | -5.6% |
| Financial charges | 65/66B | €15 | €175 | +€161 | +1078.8% |
| Recurring financial charges | 65 | €15 | €175 | +€161 | +1078.8% |
| Profit (loss) for the period before taxes | 9903 | €9,366 | €8,678 | -€688 | -7.3% |
| Income taxes | 67/77 | €2,000 | €1,800 | -€200 | -10.0% |
| Profit (loss) for the period | 9904 | €7,366 | €6,878 | -€488 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,366 | €6,878 | -€488 | -6.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.