VG Bouw: 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.
VG Bouw
Largest movements
- Tangible fixed assets +€23,012
up €23,012 (+63.9%), from €35,990 to €59,002
of which Furniture and vehicles: +€20,002
- Deferred charges and accrued income -€7,051
no longer reported in 2025 (was €7,051)
- Cash +€4,826
new in 2025: €4,826
mainly Net result for the year (+€18,781) and Debts after one year (+€12,147)
- Receivables within one year -€3,933
down €3,933 (-36.1%), from €10,885 to €6,952
of which Trade receivables: -€6,822
- Trade debts -€14,855
down €14,855 (-96.3%), from €15,425 to €570
- Debts after one year +€12,147
up €12,147 (+286%), from €4,242 to €16,389
- Reserves +€11,915
up €11,915 (+70.0%), from €17,021 to €28,935
- Profit (loss) carried forward +€6,866
no longer reported in 2025 (was -€6,866)
- Current portion of long-term debt +€4,039
up €4,039 (+65.4%), from €6,176 to €10,216
- Gross operating margin +€31,694
up €31,694 (+1,407%), from €2,252 to €33,946
- Taxes +€3,480
new in 2025: €3,480
- Depreciation +€1,410
up €1,410 (+24.2%), from €5,833 to €7,243
- Other operating charges +€920
up €920 (+75.1%), from €1,225 to €2,144
- Financial charges +€854
up €854 (+41.4%), from €2,060 to €2,914
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 | €54,075 | €70,829 | +€16,754 | +31.0% |
| Fixed assets | 21/28 | €36,139 | €59,051 | +€22,912 | +63.4% |
| Intangible fixed assets | 21 | €149 | €49 | -€100 | -66.9% |
| Tangible fixed assets | 22/27 | €35,990 | €59,002 | +€23,012 | +63.9% |
| Land and buildings | 22 | - | €2,485 | +€2,485 | |
| Plant, machinery and equipment | 23 | €35,038 | €35,563 | +€526 | +1.5% |
| Furniture and vehicles | 24 | €952 | €20,954 | +€20,002 | +2,100% |
| Current assets | 29/58 | €17,936 | €11,778 | -€6,158 | -34.3% |
| Amounts receivable within one year | 40/41 | €10,885 | €6,952 | -€3,933 | -36.1% |
| Trade receivables | 40 | €10,255 | €3,432 | -€6,822 | -66.5% |
| Other amounts receivable | 41 | €630 | €3,520 | +€2,889 | +458% |
| Cash at bank and in hand | 54/58 | - | €4,826 | +€4,826 | |
| Deferred charges and accrued income | 490/1 | €7,051 | - | -€7,051 | |
| Total equity and liabilities | 10/49 | €54,075 | €70,829 | +€16,754 | +31.0% |
| Equity | 10/15 | €15,154 | €33,935 | +€18,781 | +124% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,021 | €28,935 | +€11,915 | +70.0% |
| Distributable reserves | 133 | €17,021 | €28,935 | +€11,915 | +70.0% |
| Profit (loss) carried forward | 14 | -€6,866 | - | +€6,866 | |
| Amounts payable | 17/49 | €38,920 | €36,894 | -€2,026 | -5.2% |
| Amounts payable after more than one year | 17 | €4,242 | €16,389 | +€12,147 | +286% |
| Financial debts | 170/4 | €4,242 | €16,389 | +€12,147 | +286% |
| Amounts payable within one year | 42/48 | €34,679 | €20,505 | -€14,173 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €6,176 | €10,216 | +€4,039 | +65.4% |
| Financial debts | 43 | €284 | - | -€284 | |
| Credit institutions | 430/8 | €284 | - | -€284 | |
| Trade debts | 44 | €15,425 | €570 | -€14,855 | -96.3% |
| Suppliers | 440/4 | €15,425 | €570 | -€14,855 | -96.3% |
| Taxes, remuneration and social security | 45 | €7,717 | €7,894 | +€177 | +2.3% |
| Taxes | 450/3 | €5,517 | €5,694 | +€177 | +3.2% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | €5,076 | €1,825 | -€3,251 | -64.0% |
| Non-recurring operating income | 76A | - | €312 | +€312 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,833 | €7,243 | +€1,410 | +24.2% |
| Other operating charges | 640/8 | €1,225 | €2,144 | +€920 | +75.1% |
| Gross operating margin | 9900 | €2,252 | €33,946 | +€31,694 | +1,407% |
| Operating profit (loss) | 9901 | -€4,806 | €24,558 | +€29,364 | |
| Financial income | 75/76B | €0 | €617 | +€617 | +411,133% |
| Recurring financial income | 75 | €0 | €617 | +€617 | +411,133% |
| Financial charges | 65/66B | €2,060 | €2,914 | +€854 | +41.4% |
| Recurring financial charges | 65 | €2,060 | €2,914 | +€854 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,866 | €22,261 | +€29,127 | |
| Income taxes | 67/77 | - | €3,480 | +€3,480 | |
| Profit (loss) for the period | 9904 | -€6,866 | €18,781 | +€25,647 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,866 | €18,781 | +€25,647 |
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 23 October 2026 via checked.be.