VEHENT3: what changed
What changed
VEHENT3
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€106,161
2024 · €7,651+€98,510
Equity
€578,319
2024 · €472,158+€106,161
Cash
€731
2024 · €4,298-€3,566
Balance sheet total
€676,787
2024 · €1.1m-€468,119
Largest movements
Assets
- Receivables within one year -€350,910
down €350,910 (-79.1%), from €443,677 to €92,767
of which Trade receivables: -€368,678
- Stocks and contracts -€307,802
down €307,802 (-100%), from €307,802 to €0
- Current investments +€116,513
up €116,513 (+1,329%), from €8,765 to €125,278
- Tangible fixed assets +€77,430
up €77,430 (+20.4%), from €379,796 to €457,226
of which Furniture and vehicles: +€44,820
Equity and liabilities
- Short-term financial debts -€650,000
down €650,000 (-100%), from €650,000 to €0
- Reserves +€100,000
up €100,000 (+23.1%), from €433,718 to €533,718
of which Distributable reserves: +€100,000
- Debts after one year +€26,055
new in 2025: €26,055
- Tax, wage and social debts +€21,553
new in 2025: €21,553
- Trade debts +€19,826
up €19,826 (+96.1%), from €20,621 to €40,446
Income statement
- Gross operating margin +€91,072
up €91,072 (+112%), from €81,104 to €172,175
- Taxes +€21,061
new in 2025: €21,061
- Depreciation -€17,732
down €17,732 (-36.4%), from €48,688 to €30,956
- Financial charges -€17,431
down €17,431 (-63.2%), from €27,594 to €10,163
- Financial income -€4,164
down €4,164 (-49.5%), from €8,404 to €4,241
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
€7,651
Gross operating margin
+€91,072
Depreciation
+€17,732
Other operating charges
-€2,500
Financial income
-€4,164
Financial charges
+€17,431
Taxes
-€21,061
Result 2025
€106,161
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
+€837,572
Investment
-€224,899
Financing
-€616,240
Cash 2024
€4,298
From operations (derived)
+€837,572
Net result for the year
+€106,161
Depreciation
+€30,956
Stocks and contracts
+€307,802
Receivables within one year
+€350,910
Smaller working-capital items
+€365
Trade debts
+€19,826
Tax, wage and social debts
+€21,553
Investment (derived)
-€224,899
Investment in fixed assets (net)
-€108,386
Current investments
-€116,513
Financing
-€616,240
Debts after one year
+€26,055
Current portion of long-term debt
+€7,706
Short-term financial debts
-€650,000
Cash 2025
€731
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,144,906 | €676,787 | -€468,119 | -40.9% |
| Fixed assets | 21/28 | €379,796 | €457,226 | +€77,430 | +20.4% |
| Tangible fixed assets | 22/27 | €379,796 | €457,226 | +€77,430 | +20.4% |
| Land and buildings | 22 | €379,796 | €412,406 | +€32,610 | +8.6% |
| Furniture and vehicles | 24 | - | €44,820 | +€44,820 | |
| Current assets | 29/58 | €765,110 | €219,561 | -€545,549 | -71.3% |
| Stocks and contracts in progress | 3 | €307,802 | €0 | -€307,802 | -100% |
| Stocks | 30/36 | €307,802 | €0 | -€307,802 | -100% |
| Amounts receivable within one year | 40/41 | €443,677 | €92,767 | -€350,910 | -79.1% |
| Trade receivables | 40 | €373,630 | €4,952 | -€368,678 | -98.7% |
| Other amounts receivable | 41 | €70,047 | €87,815 | +€17,768 | +25.4% |
| Current investments | 50/53 | €8,765 | €125,278 | +€116,513 | +1,329% |
| Cash at bank and in hand | 54/58 | €4,298 | €731 | -€3,566 | -83.0% |
| Deferred charges and accrued income | 490/1 | €570 | €785 | +€216 | +37.9% |
| Total equity and liabilities | 10/49 | €1,144,906 | €676,787 | -€468,119 | -40.9% |
| Equity | 10/15 | €472,158 | €578,319 | +€106,161 | +22.5% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €433,718 | €533,718 | +€100,000 | +23.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €433,718 | €533,718 | +€100,000 | +23.1% |
| Profit (loss) carried forward | 14 | €1,256 | €7,417 | +€6,161 | +491% |
| Amounts payable | 17/49 | €672,748 | €98,468 | -€574,280 | -85.4% |
| Amounts payable after more than one year | 17 | - | €26,055 | +€26,055 | |
| Financial debts | 170/4 | - | €26,055 | +€26,055 | |
| Amounts payable within one year | 42/48 | €672,621 | €72,308 | -€600,313 | -89.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,706 | +€7,706 | |
| Financial debts | 43 | €650,000 | €0 | -€650,000 | -100% |
| Credit institutions | 430/8 | €650,000 | €0 | -€650,000 | -100% |
| Trade debts | 44 | €20,621 | €40,446 | +€19,826 | +96.1% |
| Suppliers | 440/4 | €20,621 | €40,446 | +€19,826 | +96.1% |
| Taxes, remuneration and social security | 45 | - | €21,553 | +€21,553 | |
| Taxes | 450/3 | - | €21,553 | +€21,553 | |
| Other amounts payable | 47/48 | €2,000 | €2,603 | +€603 | +30.2% |
| Accrued charges and deferred income | 492/3 | €128 | €105 | -€22 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,688 | €30,956 | -€17,732 | -36.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €5,575 | €8,076 | +€2,500 | +44.8% |
| Gross operating margin | 9900 | €81,104 | €172,175 | +€91,072 | +112% |
| Operating profit (loss) | 9901 | €26,841 | €133,144 | +€106,303 | +396% |
| Financial income | 75/76B | €8,404 | €4,241 | -€4,164 | -49.5% |
| Recurring financial income | 75 | €8,404 | €4,241 | -€4,164 | -49.5% |
| Financial charges | 65/66B | €27,594 | €10,163 | -€17,431 | -63.2% |
| Recurring financial charges | 65 | €27,594 | €10,163 | -€17,431 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €7,651 | €127,222 | +€119,570 | +1,563% |
| Income taxes | 67/77 | - | €21,061 | +€21,061 | |
| Profit (loss) for the period | 9904 | €7,651 | €106,161 | +€98,510 | +1,287% |
| Profit (loss) for the period to be appropriated | 9905 | €7,651 | €106,161 | +€98,510 | +1,287% |
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 3 November 2026 via checked.be.