VEST 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.
VEST CONSTRUCT
Largest movements
- Tangible fixed assets -€8,750
down €8,750 (-4.1%), from €214,737 to €205,987
- Debts after one year -€10,576
down €10,576 (-5.9%), from €179,808 to €169,232
- Profit (loss) carried forward +€3,550
up €3,550 (+12.1%), from €29,288 to €32,837
- Other operating charges +€4,355
up €4,355 (+3,324%), from €131 to €4,486
- Taxes -€1,720
down €1,720 (-57.1%), from €3,012 to €1,292
- Financial income -€964
no longer reported in 2025 (was €964)
- Gross operating margin -€710
down €710 (-3.1%), from €22,692 to €21,982
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 | €247,028 | €240,638 | -€6,390 | -2.6% |
| Fixed assets | 21/28 | €214,737 | €205,987 | -€8,750 | -4.1% |
| Tangible fixed assets | 22/27 | €214,737 | €205,987 | -€8,750 | -4.1% |
| Land and buildings | 22 | €214,737 | €205,987 | -€8,750 | -4.1% |
| Current assets | 29/58 | €32,291 | €34,651 | +€2,360 | +7.3% |
| Amounts receivable within one year | 40/41 | €32,269 | €32,269 | = | 0.0% |
| Trade receivables | 40 | €15,950 | €32,269 | +€16,319 | +102% |
| Other amounts receivable | 41 | €16,319 | - | -€16,319 | |
| Cash at bank and in hand | 54/58 | €21 | €1,747 | +€1,726 | +8,137% |
| Deferred charges and accrued income | 490/1 | - | €634 | +€634 | |
| Total equity and liabilities | 10/49 | €247,028 | €240,638 | -€6,390 | -2.6% |
| Equity | 10/15 | €49,288 | €52,837 | +€3,550 | +7.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,288 | €32,837 | +€3,550 | +12.1% |
| Amounts payable | 17/49 | €197,740 | €187,800 | -€9,940 | -5.0% |
| Amounts payable after more than one year | 17 | €179,808 | €169,232 | -€10,576 | -5.9% |
| Financial debts | 170/4 | €179,808 | €169,232 | -€10,576 | -5.9% |
| Amounts payable within one year | 42/48 | €17,932 | €16,792 | -€1,140 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €11,251 | €10,576 | -€675 | -6.0% |
| Trade debts | 44 | €1,391 | €821 | -€570 | -41.0% |
| Suppliers | 440/4 | €1,391 | €821 | -€570 | -41.0% |
| Taxes, remuneration and social security | 45 | €5,291 | €5,395 | +€104 | +2.0% |
| Taxes | 450/3 | €5,291 | €5,395 | +€104 | +2.0% |
| Accrued charges and deferred income | 492/3 | - | €1,777 | +€1,777 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,750 | €8,750 | = | 0.0% |
| Other operating charges | 640/8 | €131 | €4,486 | +€4,355 | +3,324% |
| Gross operating margin | 9900 | €22,692 | €21,982 | -€710 | -3.1% |
| Operating profit (loss) | 9901 | €13,811 | €8,746 | -€5,065 | -36.7% |
| Financial income | 75/76B | €964 | - | -€964 | |
| Recurring financial income | 75 | €964 | - | -€964 | |
| Financial charges | 65/66B | €3,851 | €3,905 | +€54 | +1.4% |
| Recurring financial charges | 65 | €3,851 | €3,905 | +€54 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €10,924 | €4,842 | -€6,082 | -55.7% |
| Income taxes | 67/77 | €3,012 | €1,292 | -€1,720 | -57.1% |
| Profit (loss) for the period | 9904 | €7,911 | €3,550 | -€4,362 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,911 | €3,550 | -€4,362 | -55.1% |
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 17 October 2026 via checked.be.