VEVA - 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.
VEVA - CONSTRUCT
Largest movements
- Stocks and contracts +€32,694
up €32,694 (+95.9%), from €34,090 to €66,784
- Cash +€22,999
up €22,999 (+22.8%), from €101,037 to €124,036
mainly Trade debts (+€50,345) and Depreciation (+€16,736)
- Tangible fixed assets -€16,321
down €16,321 (-21.2%), from €76,967 to €60,646
- Receivables within one year +€13,732
up €13,732 (+45.3%), from €30,290 to €44,022
of which Trade receivables: +€8,434
- Trade debts +€50,345
up €50,345 (+394%), from €12,781 to €63,126
- Advances received +€11,935
up €11,935 (+149%), from €8,034 to €19,969
- Current portion of long-term debt -€7,699
no longer reported in 2025 (was €7,699)
- Reserves +€4,759
up €4,759 (+2.8%), from €168,713 to €173,472
- Other debts -€3,305
down €3,305 (-69.8%), from €4,732 to €1,427
- Gross operating margin -€40,010
down €40,010 (-27.7%), from €144,442 to €104,432
- Staff costs -€22,988
down €22,988 (-23.3%), from €98,705 to €75,717
- Taxes -€4,941
down €4,941 (-65.6%), from €7,533 to €2,592
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 | €247,012 | €300,337 | +€53,325 | +21.6% |
| Fixed assets | 21/28 | €76,967 | €60,646 | -€16,321 | -21.2% |
| Tangible fixed assets | 22/27 | €76,967 | €60,646 | -€16,321 | -21.2% |
| Land and buildings | 22 | €56,845 | €53,480 | -€3,365 | -5.9% |
| Plant, machinery and equipment | 23 | €2,990 | €1,788 | -€1,202 | -40.2% |
| Furniture and vehicles | 24 | €9,476 | €5,378 | -€4,098 | -43.2% |
| Leasing and similar rights | 25 | €7,656 | - | -€7,656 | |
| Current assets | 29/58 | €170,045 | €239,690 | +€69,646 | +41.0% |
| Stocks and contracts in progress | 3 | €34,090 | €66,784 | +€32,694 | +95.9% |
| Stocks | 30/36 | €34,090 | €66,784 | +€32,694 | +95.9% |
| Amounts receivable within one year | 40/41 | €30,290 | €44,022 | +€13,732 | +45.3% |
| Trade receivables | 40 | €29,884 | €38,318 | +€8,434 | +28.2% |
| Other amounts receivable | 41 | €406 | €5,704 | +€5,298 | +1,304% |
| Cash at bank and in hand | 54/58 | €101,037 | €124,036 | +€22,999 | +22.8% |
| Deferred charges and accrued income | 490/1 | €4,628 | €4,849 | +€220 | +4.8% |
| Total equity and liabilities | 10/49 | €247,012 | €300,337 | +€53,325 | +21.6% |
| Equity | 10/15 | €198,713 | €203,472 | +€4,759 | +2.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €168,713 | €173,472 | +€4,759 | +2.8% |
| Distributable reserves | 133 | €168,713 | €173,472 | +€4,759 | +2.8% |
| Amounts payable | 17/49 | €48,298 | €96,865 | +€48,566 | +101% |
| Amounts payable within one year | 42/48 | €48,298 | €96,865 | +€48,566 | +101% |
| Current portion of amounts payable after more than one year | 42 | €7,699 | - | -€7,699 | |
| Trade debts | 44 | €12,781 | €63,126 | +€50,345 | +394% |
| Suppliers | 440/4 | €12,781 | €63,126 | +€50,345 | +394% |
| Advances received on contracts in progress | 46 | €8,034 | €19,969 | +€11,935 | +149% |
| Taxes, remuneration and social security | 45 | €15,052 | €12,342 | -€2,710 | -18.0% |
| Taxes | 450/3 | €7,636 | €2,592 | -€5,043 | -66.1% |
| Remuneration and social security | 454/9 | €7,417 | €9,750 | +€2,333 | +31.5% |
| Other amounts payable | 47/48 | €4,732 | €1,427 | -€3,305 | -69.8% |
| Remuneration, social security and pensions | 62 | €98,705 | €75,717 | -€22,988 | -23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,068 | €16,736 | -€1,332 | -7.4% |
| Other operating charges | 640/8 | €4,155 | €4,459 | +€303 | +7.3% |
| Gross operating margin | 9900 | €144,442 | €104,432 | -€40,010 | -27.7% |
| Operating profit (loss) | 9901 | €23,513 | €7,521 | -€15,992 | -68.0% |
| Financial income | 75/76B | €2 | €57 | +€55 | +3,573% |
| Recurring financial income | 75 | €2 | €57 | +€55 | +3,573% |
| Financial charges | 65/66B | €321 | €226 | -€95 | -29.6% |
| Recurring financial charges | 65 | €321 | €226 | -€95 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €23,193 | €7,351 | -€15,842 | -68.3% |
| Income taxes | 67/77 | €7,533 | €2,592 | -€4,941 | -65.6% |
| Profit (loss) for the period | 9904 | €15,660 | €4,759 | -€10,901 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,660 | €4,759 | -€10,901 | -69.6% |
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 21 October 2026 via checked.be.