VHR 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.
VHR CONSTRUCT
Largest movements
- Receivables within one year -€347,540
down €347,540 (-77.4%), from €449,111 to €101,571
of which Trade receivables: -€355,291
- Cash +€293,173
up €293,173 (+88.2%), from €332,514 to €625,687
mainly Receivables within one year (+€347,540) and Trade debts (+€32,338)
- Profit (loss) carried forward -€90,246
down €90,246 (-127%), from -€70,977 to -€161,223
- Trade debts +€32,338
up €32,338 (+11,884%), from €272 to €32,610
- Other debts +€8,218
up €8,218 (+4.9%), from €167,230 to €175,448
- Gross operating margin +€83,683
up €83,683 (+61.9%), from -€135,182 to -€51,500
- Staff costs -€41,193
no longer reported in 2025 (was €41,193)
- Financial charges +€26,561
up €26,561 (+157%), from €16,941 to €43,502
of which Non-recurring financial charges: +€27,237
- Financial income -€18,217
down €18,217 (-69.4%), from €26,261 to €8,044
- Other operating charges -€6,586
down €6,586 (-66.7%), from €9,874 to €3,288
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 | €782,064 | €727,328 | -€54,737 | -7.0% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €782,014 | €727,278 | -€54,737 | -7.0% |
| Amounts receivable within one year | 40/41 | €449,111 | €101,571 | -€347,540 | -77.4% |
| Trade receivables | 40 | €449,008 | €93,716 | -€355,291 | -79.1% |
| Other amounts receivable | 41 | €104 | €7,855 | +€7,752 | +7,484% |
| Cash at bank and in hand | 54/58 | €332,514 | €625,687 | +€293,173 | +88.2% |
| Deferred charges and accrued income | 490/1 | €389 | €19 | -€370 | -95.1% |
| Total equity and liabilities | 10/49 | €782,064 | €727,328 | -€54,737 | -7.0% |
| Equity | 10/15 | €609,173 | €518,927 | -€90,246 | -14.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €618,650 | €618,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €612,500 | €612,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,977 | -€161,223 | -€90,246 | -127% |
| Amounts payable | 17/49 | €172,892 | €208,401 | +€35,509 | +20.5% |
| Amounts payable within one year | 42/48 | €172,892 | €208,401 | +€35,509 | +20.5% |
| Trade debts | 44 | €272 | €32,610 | +€32,338 | +11,884% |
| Suppliers | 440/4 | €272 | €32,610 | +€32,338 | +11,884% |
| Taxes, remuneration and social security | 45 | €5,390 | €343 | -€5,046 | -93.6% |
| Taxes | 450/3 | €5,390 | €343 | -€5,046 | -93.6% |
| Other amounts payable | 47/48 | €167,230 | €175,448 | +€8,218 | +4.9% |
| Non-recurring operating income | 76A | €4,298 | - | -€4,298 | |
| Remuneration, social security and pensions | 62 | €41,193 | - | -€41,193 | |
| Other operating charges | 640/8 | €9,874 | €3,288 | -€6,586 | -66.7% |
| Gross operating margin | 9900 | -€135,182 | -€51,500 | +€83,683 | +61.9% |
| Operating profit (loss) | 9901 | -€186,249 | -€54,788 | +€131,461 | +70.6% |
| Financial income | 75/76B | €26,261 | €8,044 | -€18,217 | -69.4% |
| Recurring financial income | 75 | €26,261 | €8,044 | -€18,217 | -69.4% |
| Financial charges | 65/66B | €16,941 | €43,502 | +€26,561 | +157% |
| Recurring financial charges | 65 | €1,225 | €549 | -€676 | -55.2% |
| Non-recurring financial charges | 66B | €15,716 | €42,954 | +€27,237 | +173% |
| Profit (loss) for the period before taxes | 9903 | -€176,929 | -€90,246 | +€86,683 | +49.0% |
| Profit (loss) for the period | 9904 | -€176,929 | -€90,246 | +€86,683 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€176,929 | -€90,246 | +€86,683 | +49.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.