VEGA GROUP: what changed
What changed
VEGA GROUP
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€24,905
2024 · €2,791+€22,114
Equity
€339,343
2024 · €314,438+€24,905
Cash
€219,396
2024 · €999+€218,396
Balance sheet total
€4.8m
2024 · €4.7m+€134,430
Largest movements
Assets
- Stocks and contracts -€266,437
down €266,437 (-18.4%), from €1.4m to €1.2m
- Cash +€218,396
up €218,396 (+21,860%), from €999 to €219,396
mainly Stocks and contracts (+€266,437) and Trade debts (+€114,066)
- Receivables within one year +€191,984
up €191,984 (+7.8%), from €2.5m to €2.6m
of which Other amounts receivable: +€241,928
Equity and liabilities
- Trade debts +€114,066
up €114,066 (+30.7%), from €371,549 to €485,615
Income statement
- Gross operating margin +€60,668
up €60,668 (+298%), from €20,355 to €81,023
- Financial charges +€25,550
up €25,550 (+130%), from €19,636 to €45,186
- Financial income -€10,163
down €10,163 (-100%), from €10,163 to €0
- Taxes +€2,716
new in 2025: €2,716
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,791
Gross operating margin
+€60,668
Other operating charges
-€126
Financial income
-€10,163
Financial charges
-€25,550
Taxes
-€2,716
Result 2025
€24,905
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€257,617
Investment
+€2,100
Financing
-€41,320
Cash 2024
€999
From operations (derived)
+€257,617
Net result for the year
+€24,905
Depreciation
+€6,673
Stocks and contracts
+€266,437
Receivables within one year
-€191,984
Deferred charges and accrued income
+€740
Trade debts
+€114,066
Tax, wage and social debts
+€897
Other debts
+€35,883
Investment (derived)
+€2,100
Investment in fixed assets (net)
+€2,100
Financing
-€41,320
Debts after one year
-€44,143
Current portion of long-term debt
+€855
Short-term financial debts
+€1,967
Cash 2025
€219,396
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,688,549 | €4,822,979 | +€134,430 | +2.9% |
| Fixed assets | 21/28 | €784,357 | €775,584 | -€8,773 | -1.1% |
| Tangible fixed assets | 22/27 | €22,257 | €15,584 | -€6,673 | -30.0% |
| Furniture and vehicles | 24 | €22,257 | €15,584 | -€6,673 | -30.0% |
| Financial fixed assets | 28 | €762,100 | €760,000 | -€2,100 | -0.3% |
| Current assets | 29/58 | €3,904,192 | €4,047,395 | +€143,203 | +3.7% |
| Stocks and contracts in progress | 3 | €1,446,929 | €1,180,492 | -€266,437 | -18.4% |
| Stocks | 30/36 | €1,446,929 | €1,180,492 | -€266,437 | -18.4% |
| Amounts receivable within one year | 40/41 | €2,455,524 | €2,647,507 | +€191,984 | +7.8% |
| Trade receivables | 40 | €1,774,179 | €1,724,234 | -€49,944 | -2.8% |
| Other amounts receivable | 41 | €681,345 | €923,273 | +€241,928 | +35.5% |
| Cash at bank and in hand | 54/58 | €999 | €219,396 | +€218,396 | +21,860% |
| Deferred charges and accrued income | 490/1 | €740 | €0 | -€740 | -100% |
| Total equity and liabilities | 10/49 | €4,688,549 | €4,822,979 | +€134,430 | +2.9% |
| Equity | 10/15 | €314,438 | €339,343 | +€24,905 | +7.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €0 | -€10,000 | -100% |
| Other | 1319 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €204,438 | €229,343 | +€24,905 | +12.2% |
| Amounts payable | 17/49 | €4,374,111 | €4,483,636 | +€109,525 | +2.5% |
| Amounts payable after more than one year | 17 | €305,934 | €261,791 | -€44,143 | -14.4% |
| Financial debts | 170/4 | €305,934 | €261,791 | -€44,143 | -14.4% |
| Amounts payable within one year | 42/48 | €4,068,177 | €4,221,845 | +€153,668 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €42,347 | €43,202 | +€855 | +2.0% |
| Financial debts | 43 | €547,976 | €549,943 | +€1,967 | +0.4% |
| Credit institutions | 430/8 | €547,976 | €549,943 | +€1,967 | +0.4% |
| Trade debts | 44 | €371,549 | €485,615 | +€114,066 | +30.7% |
| Suppliers | 440/4 | €371,549 | €485,615 | +€114,066 | +30.7% |
| Advances received on contracts in progress | 46 | €2,190,823 | €2,190,823 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,819 | €2,716 | +€897 | +49.3% |
| Taxes | 450/3 | €1,819 | €2,716 | +€897 | +49.3% |
| Other amounts payable | 47/48 | €913,664 | €949,547 | +€35,883 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,673 | €6,673 | = | 0.0% |
| Other operating charges | 640/8 | €1,419 | €1,544 | +€126 | +8.9% |
| Gross operating margin | 9900 | €20,355 | €81,023 | +€60,668 | +298% |
| Operating profit (loss) | 9901 | €12,264 | €72,806 | +€60,542 | +494% |
| Financial income | 75/76B | €10,163 | €0 | -€10,163 | -100% |
| Recurring financial income | 75 | €10,163 | €0 | -€10,163 | -100% |
| Financial charges | 65/66B | €19,636 | €45,186 | +€25,550 | +130% |
| Recurring financial charges | 65 | €19,636 | €45,186 | +€25,550 | +130% |
| Profit (loss) for the period before taxes | 9903 | €2,791 | €27,621 | +€24,829 | +889% |
| Income taxes | 67/77 | - | €2,716 | +€2,716 | |
| Profit (loss) for the period | 9904 | €2,791 | €24,905 | +€22,114 | +792% |
| Profit (loss) for the period to be appropriated | 9905 | €2,791 | €24,905 | +€22,114 | +792% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.