VDV STONEWORKS: 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.
VDV STONEWORKS
Largest movements
- Tangible fixed assets -€43,021
down €43,021 (-64.7%), from €66,493 to €23,472
of which Furniture and vehicles: -€35,079
- Cash +€29,876
up €29,876 (+168.2%), from €17,763 to €47,639
mainly Investment in fixed assets (net) (+€38,241) and Stocks and contracts (+€22,987)
- Stocks and contracts -€22,987
down €22,987 (-100.0%), from €22,987 to €0
of which Contracts in progress: -€19,987
- Receivables within one year +€12,727
up €12,727 (+30.6%), from €41,563 to €54,290
of which Trade receivables: +€15,514
- Debts after one year -€14,389
down €14,389 (-100.0%), from €14,389 to €0
- Current portion of long-term debt -€12,046
down €12,046 (-100.0%), from €12,046 to €0
- Profit (loss) carried forward +€4,025
up €4,025 (+4.7%), from €86,462 to €90,487
- Trade debts +€2,159
up €2,159 (+35.4%), from €6,105 to €8,263
- Other debts -€1,808
down €1,808 (-8.5%), from €21,397 to €19,589
- Staff costs +€28,918
up €28,918 (+1182.0%), from €2,447 to €31,365
- Gross operating margin +€27,979
up €27,979 (+97.9%), from €28,564 to €56,543
- Depreciation -€10,095
down €10,095 (-67.9%), from €14,876 to €4,780
- Other operating charges +€9,268
up €9,268 (+224.1%), from €4,135 to €13,403
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 | €149,899 | €126,789 | -€23,110 | -15.4% |
| Fixed assets | 21/28 | €66,493 | €23,472 | -€43,021 | -64.7% |
| Tangible fixed assets | 22/27 | €66,493 | €23,472 | -€43,021 | -64.7% |
| Plant, machinery and equipment | 23 | €11,773 | €2,822 | -€8,952 | -76.0% |
| Furniture and vehicles | 24 | €38,381 | €3,302 | -€35,079 | -91.4% |
| Other tangible fixed assets | 26 | €16,339 | €17,348 | +€1,009 | +6.2% |
| Current assets | 29/58 | €83,406 | €103,317 | +€19,911 | +23.9% |
| Stocks and contracts in progress | 3 | €22,987 | €0 | -€22,987 | -100.0% |
| Stocks | 30/36 | €3,000 | €0 | -€3,000 | -100.0% |
| Contracts in progress | 37 | €19,987 | €0 | -€19,987 | -100.0% |
| Amounts receivable within one year | 40/41 | €41,563 | €54,290 | +€12,727 | +30.6% |
| Trade receivables | 40 | €23,799 | €39,313 | +€15,514 | +65.2% |
| Other amounts receivable | 41 | €17,764 | €14,977 | -€2,787 | -15.7% |
| Cash at bank and in hand | 54/58 | €17,763 | €47,639 | +€29,876 | +168.2% |
| Deferred charges and accrued income | 490/1 | €1,093 | €1,388 | +€295 | +27.0% |
| Total equity and liabilities | 10/49 | €149,899 | €126,789 | -€23,110 | -15.4% |
| Equity | 10/15 | €91,462 | €95,487 | +€4,025 | +4.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,462 | €90,487 | +€4,025 | +4.7% |
| Amounts payable | 17/49 | €58,437 | €31,302 | -€27,135 | -46.4% |
| Amounts payable after more than one year | 17 | €14,389 | €0 | -€14,389 | -100.0% |
| Financial debts | 170/4 | €14,389 | €0 | -€14,389 | -100.0% |
| Amounts payable within one year | 42/48 | €44,048 | €31,302 | -€12,746 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €12,046 | €0 | -€12,046 | -100.0% |
| Trade debts | 44 | €6,105 | €8,263 | +€2,159 | +35.4% |
| Suppliers | 440/4 | €6,105 | €8,263 | +€2,159 | +35.4% |
| Taxes, remuneration and social security | 45 | €4,500 | €3,450 | -€1,050 | -23.3% |
| Taxes | 450/3 | €4,500 | €3,450 | -€1,050 | -23.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,397 | €19,589 | -€1,808 | -8.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,447 | €31,365 | +€28,918 | +1182.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,876 | €4,780 | -€10,095 | -67.9% |
| Other operating charges | 640/8 | €4,135 | €13,403 | +€9,268 | +224.1% |
| Gross operating margin | 9900 | €28,564 | €56,543 | +€27,979 | +97.9% |
| Operating profit (loss) | 9901 | €7,107 | €6,995 | -€113 | -1.6% |
| Financial income | 75/76B | €611 | €190 | -€420 | -68.8% |
| Recurring financial income | 75 | €611 | €190 | -€420 | -68.8% |
| Financial charges | 65/66B | €1,638 | €1,074 | -€565 | -34.5% |
| Recurring financial charges | 65 | €1,638 | €1,074 | -€565 | -34.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €6,080 | €6,111 | +€32 | +0.5% |
| Income taxes | 67/77 | €2,242 | €2,087 | -€155 | -6.9% |
| Profit (loss) for the period | 9904 | €3,838 | €4,025 | +€187 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,838 | €4,025 | +€187 | +4.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.