VEDEVE CONSTRUCT: 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.
VEDEVE CONSTRUCT
Largest movements
- Receivables after one year -€275,000
down €275,000 (-100%), from €275,000 to €0
- Cash -€181,846
down €181,846 (-89.9%), from €202,221 to €20,375
mainly Debts after one year (-€300,000) and Contributions, distributions and other (-€245,000)
- Receivables within one year +€36,119
up €36,119 (+257%), from €14,057 to €50,176
of which Trade receivables: +€36,300
- Tangible fixed assets -€10,592
down €10,592 (-81.4%), from €13,009 to €2,417
of which Furniture and vehicles: -€12,383
- Debts after one year -€300,000
down €300,000 (-100%), from €300,000 to €0
- Profit (loss) carried forward -€190,677
down €190,677 (-99.3%), from €192,016 to €1,340
- Other debts +€55,058
new in 2025: €55,058
- Tax, wage and social debts +€5,280
up €5,280 (+88.5%), from €5,966 to €11,246
- Gross operating margin +€7,973
up €7,973 (+12.6%), from €63,406 to €71,379
- Depreciation -€6,591
down €6,591 (-92.0%), from €7,167 to €576
- Taxes +€4,071
up €4,071 (+36.3%), from €11,224 to €15,295
- Financial charges +€743
up €743 (+1,708%), from €44 to €786
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.
Derived cash bridge
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 | €504,286 | €72,968 | -€431,319 | -85.5% |
| Fixed assets | 21/28 | €13,009 | €2,417 | -€10,592 | -81.4% |
| Tangible fixed assets | 22/27 | €13,009 | €2,417 | -€10,592 | -81.4% |
| Plant, machinery and equipment | 23 | €581 | €2,373 | +€1,792 | +308% |
| Furniture and vehicles | 24 | €12,427 | €44 | -€12,383 | -99.6% |
| Current assets | 29/58 | €491,278 | €70,551 | -€420,727 | -85.6% |
| Amounts receivable after more than one year | 29 | €275,000 | €0 | -€275,000 | -100% |
| Other amounts receivable | 291 | €275,000 | €0 | -€275,000 | -100% |
| Amounts receivable within one year | 40/41 | €14,057 | €50,176 | +€36,119 | +257% |
| Trade receivables | 40 | €12,100 | €48,400 | +€36,300 | +300% |
| Other amounts receivable | 41 | €1,957 | €1,776 | -€181 | -9.3% |
| Cash at bank and in hand | 54/58 | €202,221 | €20,375 | -€181,846 | -89.9% |
| Total equity and liabilities | 10/49 | €504,286 | €72,968 | -€431,319 | -85.5% |
| Equity | 10/15 | €197,016 | €6,340 | -€190,677 | -96.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,016 | €1,340 | -€190,677 | -99.3% |
| Amounts payable | 17/49 | €307,270 | €66,628 | -€240,642 | -78.3% |
| Amounts payable after more than one year | 17 | €300,000 | €0 | -€300,000 | -100% |
| Financial debts | 170/4 | €300,000 | €0 | -€300,000 | -100% |
| Amounts payable within one year | 42/48 | €7,270 | €66,628 | +€59,358 | +817% |
| Trade debts | 44 | €1,304 | €324 | -€980 | -75.2% |
| Suppliers | 440/4 | €1,304 | €324 | -€980 | -75.2% |
| Taxes, remuneration and social security | 45 | €5,966 | €11,246 | +€5,280 | +88.5% |
| Taxes | 450/3 | €5,966 | €11,246 | +€5,280 | +88.5% |
| Other amounts payable | 47/48 | - | €55,058 | +€55,058 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,167 | €576 | -€6,591 | -92.0% |
| Other operating charges | 640/8 | €106 | €400 | +€293 | +276% |
| Gross operating margin | 9900 | €63,406 | €71,379 | +€7,973 | +12.6% |
| Operating profit (loss) | 9901 | €56,133 | €70,403 | +€14,271 | +25.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €44 | €786 | +€743 | +1,708% |
| Recurring financial charges | 65 | €44 | €786 | +€743 | +1,708% |
| Profit (loss) for the period before taxes | 9903 | €56,089 | €69,618 | +€13,529 | +24.1% |
| Income taxes | 67/77 | €11,224 | €15,295 | +€4,071 | +36.3% |
| Profit (loss) for the period | 9904 | €44,865 | €54,323 | +€9,458 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,865 | €54,323 | +€9,458 | +21.1% |
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 13 October 2026 via checked.be.