VdV 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.
VdV Construction
Largest movements
- Cash +€46,930
up €46,930 (+127.6%), from €36,790 to €83,720
mainly Net result for the year (+€33,743) and Depreciation (+€19,964)
- Tangible fixed assets -€18,821
down €18,821 (-15.8%), from €118,982 to €100,161
- Deferred charges and accrued income -€5,252
down €5,252 (-32.2%), from €16,330 to €11,079
- Receivables within one year +€2,549
up €2,549 (+7.2%), from €35,288 to €37,837
of which Other amounts receivable: +€6,843
- Profit (loss) carried forward +€23,743
up €23,743 (+25.0%), from €94,866 to €118,609
- Reserves +€10,000
up €10,000 (+83.3%), from €12,000 to €22,000
- Debts after one year -€7,154
down €7,154 (-9.8%), from €72,989 to €65,834
- Current portion of long-term debt -€5,767
down €5,767 (-44.6%), from €12,921 to €7,154
- Gross operating margin +€12,635
up €12,635 (+21.3%), from €59,396 to €72,031
- Other operating charges +€5,719
up €5,719 (+307.2%), from €1,862 to €7,581
- Taxes +€1,581
up €1,581 (+19.7%), from €8,007 to €9,587
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 | €216,616 | €241,100 | +€24,483 | +11.3% |
| Fixed assets | 21/28 | €118,982 | €100,161 | -€18,821 | -15.8% |
| Tangible fixed assets | 22/27 | €118,982 | €100,161 | -€18,821 | -15.8% |
| Land and buildings | 22 | €89,355 | €80,845 | -€8,510 | -9.5% |
| Plant, machinery and equipment | 23 | €8,251 | €6,438 | -€1,813 | -22.0% |
| Furniture and vehicles | 24 | €21,376 | €12,877 | -€8,499 | -39.8% |
| Current assets | 29/58 | €97,634 | €140,939 | +€43,305 | +44.4% |
| Stocks and contracts in progress | 3 | €9,225 | €8,303 | -€923 | -10.0% |
| Stocks | 30/36 | €9,225 | €8,303 | -€923 | -10.0% |
| Amounts receivable within one year | 40/41 | €35,288 | €37,837 | +€2,549 | +7.2% |
| Trade receivables | 40 | €28,507 | €24,213 | -€4,294 | -15.1% |
| Other amounts receivable | 41 | €6,781 | €13,624 | +€6,843 | +100.9% |
| Cash at bank and in hand | 54/58 | €36,790 | €83,720 | +€46,930 | +127.6% |
| Deferred charges and accrued income | 490/1 | €16,330 | €11,079 | -€5,252 | -32.2% |
| Total equity and liabilities | 10/49 | €216,616 | €241,100 | +€24,483 | +11.3% |
| Equity | 10/15 | €126,866 | €160,609 | +€33,743 | +26.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €22,000 | +€10,000 | +83.3% |
| Distributable reserves | 133 | €12,000 | €22,000 | +€10,000 | +83.3% |
| Profit (loss) carried forward | 14 | €94,866 | €118,609 | +€23,743 | +25.0% |
| Amounts payable | 17/49 | €89,750 | €80,491 | -€9,259 | -10.3% |
| Amounts payable after more than one year | 17 | €72,989 | €65,834 | -€7,154 | -9.8% |
| Financial debts | 170/4 | €72,989 | €65,834 | -€7,154 | -9.8% |
| Amounts payable within one year | 42/48 | €16,762 | €14,657 | -€2,105 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €12,921 | €7,154 | -€5,767 | -44.6% |
| Trade debts | 44 | €1,815 | €3,861 | +€2,046 | +112.7% |
| Suppliers | 440/4 | €1,815 | €3,861 | +€2,046 | +112.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,025 | €3,641 | +€1,616 | +79.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,629 | €19,964 | +€335 | +1.7% |
| Other operating charges | 640/8 | €1,862 | €7,581 | +€5,719 | +307.2% |
| Gross operating margin | 9900 | €59,396 | €72,031 | +€12,635 | +21.3% |
| Operating profit (loss) | 9901 | €37,905 | €44,486 | +€6,580 | +17.4% |
| Financial income | 75/76B | €23 | €241 | +€219 | +966.8% |
| Recurring financial income | 75 | €23 | €241 | +€219 | +966.8% |
| Financial charges | 65/66B | €1,571 | €1,397 | -€174 | -11.1% |
| Recurring financial charges | 65 | €1,571 | €1,397 | -€174 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €36,357 | €43,330 | +€6,973 | +19.2% |
| Income taxes | 67/77 | €8,007 | €9,587 | +€1,581 | +19.7% |
| Profit (loss) for the period | 9904 | €28,350 | €33,743 | +€5,393 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,350 | €33,743 | +€5,393 | +19.0% |
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.