VG-Build: what changed
Two fiscal 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-Build
Largest movements
- Receivables within one year -€3,900
down €3,900 (-3.0%), from €130,873 to €126,973
of which Other amounts receivable: -€3,900
- Other debts -€5,100
down €5,100 (-6.8%), from €74,972 to €69,872
- Gross operating margin -€13,379
down €13,379, from €8,639 to -€4,740
- Other operating charges -€6,111
down €6,111 (-98.0%), from €6,235 to €124
- Financial charges -€2,265
down €2,265 (-82.2%), from €2,755 to €490
- Staff costs +€673
new in 2025: €673
- Financial income +€401
up €401, from €0 to €401
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.
Cash bridge derived
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 | €133,131 | €129,230 | -€3,901 | -2.9% |
| Fixed assets | 21/28 | €2,000 | €2,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €131,131 | €127,230 | -€3,901 | -3.0% |
| Amounts receivable within one year | 40/41 | €130,873 | €126,973 | -€3,900 | -3.0% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €130,873 | €126,973 | -€3,900 | -3.0% |
| Cash at bank and in hand | 54/58 | €258 | €256 | -€2 | -0.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €133,131 | €129,230 | -€3,901 | -2.9% |
| Equity | 10/15 | €41,322 | €41,602 | +€280 | +0.7% |
| Contributions | 10/11 | €78,550 | €78,550 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | €0 | = | |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Distributable reserves | 133 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,103 | -€38,822 | +€280 | +0.7% |
| Amounts payable | 17/49 | €91,809 | €87,627 | -€4,182 | -4.6% |
| Amounts payable within one year | 42/48 | €91,809 | €87,627 | -€4,182 | -4.6% |
| Trade debts | 44 | €16,783 | €17,531 | +€748 | +4.5% |
| Suppliers | 440/4 | €16,783 | €17,531 | +€748 | +4.5% |
| Taxes, remuneration and social security | 45 | €54 | €224 | +€170 | +312.8% |
| Taxes | 450/3 | €54 | €224 | +€170 | +312.8% |
| Other amounts payable | 47/48 | €74,972 | €69,872 | -€5,100 | -6.8% |
| Remuneration, social security and pensions | 62 | - | €673 | +€673 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €6,235 | €124 | -€6,111 | -98.0% |
| Gross operating margin | 9900 | €8,639 | -€4,740 | -€13,379 | |
| Operating profit (loss) | 9901 | €2,404 | -€5,537 | -€7,941 | |
| Financial income | 75/76B | €0 | €401 | +€401 | |
| Recurring financial income | 75 | €0 | €401 | +€401 | |
| Financial charges | 65/66B | €2,755 | €490 | -€2,265 | -82.2% |
| Recurring financial charges | 65 | €2,755 | €490 | -€2,265 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | -€351 | -€5,626 | -€5,276 | -1504.5% |
| Income taxes | 67/77 | €54 | €93 | +€39 | +72.0% |
| Profit (loss) for the period | 9904 | -€405 | -€5,720 | -€5,315 | -1312.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€405 | -€5,720 | -€5,315 | -1312.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.