VGA CONSTRUCT: 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.
VGA CONSTRUCT
Largest movements
- Cash +€29,200
up €29,200 (+649.6%), from €4,495 to €33,695
mainly Net result for the year (+€29,246) and Depreciation (+€20,204)
- Receivables within one year +€3,843
up €3,843 (+256.4%), from €1,499 to €5,342
of which Other amounts receivable: +€2,109
- Tangible fixed assets -€1,415
down €1,415 (-2.3%), from €60,335 to €58,920
of which Furniture and vehicles: -€3,895
- Reserves +€29,246
up €29,246 (+218.3%), from €13,399 to €42,645
- Tax, wage and social debts +€9,042
up €9,042 (+434.1%), from €2,083 to €11,125
of which Taxes: +€10,226
- Debts after one year -€7,151
down €7,151 (-34.2%), from €20,896 to €13,745
- Gross operating margin +€51,295
up €51,295 (+87.8%), from €58,441 to €109,737
- Taxes +€10,148
up €10,148 (+23275.6%), from €44 to €10,192
- Depreciation +€2,000
up €2,000 (+11.0%), from €18,204 to €20,204
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 | €68,270 | €100,521 | +€32,250 | +47.2% |
| Fixed assets | 21/28 | €60,440 | €59,025 | -€1,415 | -2.3% |
| Tangible fixed assets | 22/27 | €60,335 | €58,920 | -€1,415 | -2.3% |
| Plant, machinery and equipment | 23 | €6,190 | €6,042 | -€147 | -2.4% |
| Furniture and vehicles | 24 | €52,548 | €48,653 | -€3,895 | -7.4% |
| Other tangible fixed assets | 26 | €1,597 | €4,225 | +€2,627 | +164.5% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €7,831 | €41,495 | +€33,665 | +429.9% |
| Amounts receivable within one year | 40/41 | €1,499 | €5,342 | +€3,843 | +256.4% |
| Trade receivables | 40 | €687 | €2,421 | +€1,734 | +252.4% |
| Other amounts receivable | 41 | €812 | €2,921 | +€2,109 | +259.7% |
| Cash at bank and in hand | 54/58 | €4,495 | €33,695 | +€29,200 | +649.6% |
| Deferred charges and accrued income | 490/1 | €1,837 | €2,458 | +€622 | +33.8% |
| Total equity and liabilities | 10/49 | €68,270 | €100,521 | +€32,250 | +47.2% |
| Equity | 10/15 | €36,895 | €66,142 | +€29,246 | +79.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,399 | €42,645 | +€29,246 | +218.3% |
| Distributable reserves | 133 | €13,399 | €42,645 | +€29,246 | +218.3% |
| Profit (loss) carried forward | 14 | €4,896 | €4,896 | = | 0.0% |
| Amounts payable | 17/49 | €31,375 | €34,379 | +€3,004 | +9.6% |
| Amounts payable after more than one year | 17 | €20,896 | €13,745 | -€7,151 | -34.2% |
| Financial debts | 170/4 | €20,896 | €13,745 | -€7,151 | -34.2% |
| Amounts payable within one year | 42/48 | €10,479 | €20,634 | +€10,155 | +96.9% |
| Current portion of amounts payable after more than one year | 42 | €6,738 | €7,151 | +€413 | +6.1% |
| Financial debts | 43 | €833 | €1,578 | +€745 | +89.5% |
| Credit institutions | 430/8 | €833 | €1,578 | +€745 | +89.5% |
| Trade debts | 44 | - | €780 | +€780 | |
| Suppliers | 440/4 | - | €780 | +€780 | |
| Taxes, remuneration and social security | 45 | €2,083 | €11,125 | +€9,042 | +434.1% |
| Taxes | 450/3 | €44 | €10,270 | +€10,226 | +23454.1% |
| Remuneration and social security | 454/9 | €2,039 | €855 | -€1,184 | -58.1% |
| Other amounts payable | 47/48 | €825 | - | -€825 | |
| Remuneration, social security and pensions | 62 | €48,042 | €47,788 | -€253 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,204 | €20,204 | +€2,000 | +11.0% |
| Other operating charges | 640/8 | €369 | €406 | +€37 | +10.0% |
| Gross operating margin | 9900 | €58,441 | €109,737 | +€51,295 | +87.8% |
| Operating profit (loss) | 9901 | -€8,173 | €41,338 | +€49,512 | |
| Financial income | 75/76B | €15 | €39 | +€25 | +169.3% |
| Recurring financial income | 75 | €15 | €39 | +€25 | +169.3% |
| Financial charges | 65/66B | €2,488 | €1,940 | -€548 | -22.0% |
| Recurring financial charges | 65 | €2,488 | €1,940 | -€548 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,647 | €39,438 | +€50,085 | |
| Income taxes | 67/77 | €44 | €10,192 | +€10,148 | +23275.6% |
| Profit (loss) for the period | 9904 | -€10,690 | €29,246 | +€39,936 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,690 | €29,246 | +€39,936 |
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.