VDP Constructions: 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.
VDP Constructions
Largest movements
- Stocks and contracts -€470,171
no longer reported in 2025 (was €470,171)
- Receivables within one year -€80,068
down €80,068 (-82.5%), from €97,029 to €16,961
of which Trade receivables: -€42,759
- Cash -€60,420
down €60,420 (-16.8%), from €360,647 to €300,227
mainly Debts after one year (-€630,000) and Contributions, distributions and other (-€171,000)
- Debts after one year -€630,000
no longer reported in 2025 (was €630,000)
- Other debts +€98,843
up €98,843 (+105.3%), from €93,895 to €192,738
- Tax, wage and social debts -€35,231
down €35,231 (-82.8%), from €42,543 to €7,311
- Accrued charges and deferred income -€22,322
down €22,322 (-61.0%), from €36,578 to €14,256
- Trade debts -€13,787
down €13,787 (-98.6%), from €13,985 to €197
- Financial charges -€26,245
down €26,245 (-77.7%), from €33,763 to €7,518
- Gross operating margin -€5,624
down €5,624 (-2.4%), from €231,311 to €225,687
- Taxes +€3,807
up €3,807 (+7.4%), from €51,507 to €55,314
- Financial income -€2,758
down €2,758 (-64.3%), from €4,292 to €1,534
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 | €933,767 | €322,473 | -€611,293 | -65.5% |
| Fixed assets | 21/28 | €2,404 | €5,175 | +€2,771 | +115.3% |
| Tangible fixed assets | 22/27 | €2,404 | €5,175 | +€2,771 | +115.3% |
| Plant, machinery and equipment | 23 | €2,404 | €1,822 | -€582 | -24.2% |
| Furniture and vehicles | 24 | - | €3,353 | +€3,353 | |
| Current assets | 29/58 | €931,363 | €317,298 | -€614,065 | -65.9% |
| Stocks and contracts in progress | 3 | €470,171 | - | -€470,171 | |
| Stocks | 30/36 | €470,171 | - | -€470,171 | |
| Amounts receivable within one year | 40/41 | €97,029 | €16,961 | -€80,068 | -82.5% |
| Trade receivables | 40 | €54,956 | €12,197 | -€42,759 | -77.8% |
| Other amounts receivable | 41 | €42,073 | €4,764 | -€37,309 | -88.7% |
| Cash at bank and in hand | 54/58 | €360,647 | €300,227 | -€60,420 | -16.8% |
| Deferred charges and accrued income | 490/1 | €3,516 | €110 | -€3,406 | -96.9% |
| Total equity and liabilities | 10/49 | €933,767 | €322,473 | -€611,293 | -65.5% |
| Equity | 10/15 | €116,766 | €107,970 | -€8,795 | -7.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €114,266 | €105,470 | -€8,795 | -7.7% |
| Distributable reserves | 133 | €114,266 | €105,470 | -€8,795 | -7.7% |
| Amounts payable | 17/49 | €817,001 | €214,503 | -€602,498 | -73.7% |
| Amounts payable after more than one year | 17 | €630,000 | - | -€630,000 | |
| Financial debts | 170/4 | €630,000 | - | -€630,000 | |
| Amounts payable within one year | 42/48 | €150,422 | €200,247 | +€49,825 | +33.1% |
| Trade debts | 44 | €13,985 | €197 | -€13,787 | -98.6% |
| Suppliers | 440/4 | €13,985 | €197 | -€13,787 | -98.6% |
| Taxes, remuneration and social security | 45 | €42,543 | €7,311 | -€35,231 | -82.8% |
| Taxes | 450/3 | €42,543 | €7,311 | -€35,231 | -82.8% |
| Other amounts payable | 47/48 | €93,895 | €192,738 | +€98,843 | +105.3% |
| Accrued charges and deferred income | 492/3 | €36,578 | €14,256 | -€22,322 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €504 | €1,478 | +€975 | +193.5% |
| Other operating charges | 640/8 | €741 | €707 | -€34 | -4.6% |
| Gross operating margin | 9900 | €231,311 | €225,687 | -€5,624 | -2.4% |
| Operating profit (loss) | 9901 | €230,066 | €223,502 | -€6,564 | -2.9% |
| Financial income | 75/76B | €4,292 | €1,534 | -€2,758 | -64.3% |
| Recurring financial income | 75 | €4,292 | €1,534 | -€2,758 | -64.3% |
| Financial charges | 65/66B | €33,763 | €7,518 | -€26,245 | -77.7% |
| Recurring financial charges | 65 | €33,763 | €7,518 | -€26,245 | -77.7% |
| Profit (loss) for the period before taxes | 9903 | €200,595 | €217,518 | +€16,923 | +8.4% |
| Income taxes | 67/77 | €51,507 | €55,314 | +€3,807 | +7.4% |
| Profit (loss) for the period | 9904 | €149,088 | €162,205 | +€13,116 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €149,088 | €162,205 | +€13,116 | +8.8% |
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.