Vk 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.
Vk Construct
Largest movements
- Receivables within one year -€47,046
down €47,046 (-68.2%), from €69,017 to €21,972
of which Trade receivables: -€45,658
- Cash +€20,589
up €20,589 (+289%), from €7,123 to €27,712
mainly Receivables within one year (+€47,046) and Net result for the year (+€13,741)
- Tangible fixed assets -€12,654
down €12,654 (-25.5%), from €49,653 to €36,999
of which Leasing and similar rights: -€8,589
- Stocks and contracts -€4,180
down €4,180 (-54.4%), from €7,680 to €3,500
- Trade debts -€33,227
down €33,227 (-96.7%), from €34,349 to €1,122
- Other debts -€16,304
no longer reported in 2025 (was €16,304)
- Reserves +€13,741
up €13,741 (+880%), from €1,562 to €15,302
- Debts after one year -€6,687
down €6,687 (-24.3%), from €27,568 to €20,881
- Staff costs -€16,220
no longer reported in 2025 (was €16,220)
- Depreciation -€7,800
down €7,800 (-42.6%), from €18,317 to €10,517
- Gross operating margin -€6,604
down €6,604 (-17.2%), from €38,389 to €31,785
- Taxes +€3,154
up €3,154 (+374%), from €842 to €3,997
- Other operating charges +€948
up €948 (+82.1%), from €1,155 to €2,102
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 | €134,109 | €90,818 | -€43,291 | -32.3% |
| Fixed assets | 21/28 | €49,653 | €36,999 | -€12,654 | -25.5% |
| Tangible fixed assets | 22/27 | €49,653 | €36,999 | -€12,654 | -25.5% |
| Plant, machinery and equipment | 23 | €1,131 | €516 | -€615 | -54.4% |
| Furniture and vehicles | 24 | €8,019 | €4,569 | -€3,450 | -43.0% |
| Leasing and similar rights | 25 | €40,503 | €31,915 | -€8,589 | -21.2% |
| Current assets | 29/58 | €84,456 | €53,819 | -€30,637 | -36.3% |
| Stocks and contracts in progress | 3 | €7,680 | €3,500 | -€4,180 | -54.4% |
| Stocks | 30/36 | €7,680 | €3,500 | -€4,180 | -54.4% |
| Amounts receivable within one year | 40/41 | €69,017 | €21,972 | -€47,046 | -68.2% |
| Trade receivables | 40 | €55,479 | €9,821 | -€45,658 | -82.3% |
| Other amounts receivable | 41 | €13,539 | €12,151 | -€1,388 | -10.3% |
| Cash at bank and in hand | 54/58 | €7,123 | €27,712 | +€20,589 | +289% |
| Deferred charges and accrued income | 490/1 | €635 | €635 | = | 0.0% |
| Total equity and liabilities | 10/49 | €134,109 | €90,818 | -€43,291 | -32.3% |
| Equity | 10/15 | €40,910 | €54,650 | +€13,741 | +33.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,562 | €15,302 | +€13,741 | +880% |
| Distributable reserves | 133 | €1,562 | €15,302 | +€13,741 | +880% |
| Profit (loss) carried forward | 14 | €20,748 | €20,748 | = | 0.0% |
| Amounts payable | 17/49 | €93,199 | €36,168 | -€57,032 | -61.2% |
| Amounts payable after more than one year | 17 | €27,568 | €20,881 | -€6,687 | -24.3% |
| Financial debts | 170/4 | €27,568 | €20,881 | -€6,687 | -24.3% |
| Amounts payable within one year | 42/48 | €65,631 | €15,286 | -€50,345 | -76.7% |
| Current portion of amounts payable after more than one year | 42 | €6,431 | €6,687 | +€256 | +4.0% |
| Trade debts | 44 | €34,349 | €1,122 | -€33,227 | -96.7% |
| Suppliers | 440/4 | €34,349 | €1,122 | -€33,227 | -96.7% |
| Taxes, remuneration and social security | 45 | €8,547 | €7,477 | -€1,070 | -12.5% |
| Taxes | 450/3 | €8,547 | €4,108 | -€4,439 | -51.9% |
| Remuneration and social security | 454/9 | - | €3,369 | +€3,369 | |
| Other amounts payable | 47/48 | €16,304 | - | -€16,304 | |
| Non-recurring operating income | 76A | - | €23,575 | +€23,575 | |
| Remuneration, social security and pensions | 62 | €16,220 | - | -€16,220 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,317 | €10,517 | -€7,800 | -42.6% |
| Other operating charges | 640/8 | €1,155 | €2,102 | +€948 | +82.1% |
| Gross operating margin | 9900 | €38,389 | €31,785 | -€6,604 | -17.2% |
| Operating profit (loss) | 9901 | €2,697 | €19,165 | +€16,468 | +611% |
| Financial income | 75/76B | €647 | €2 | -€645 | -99.7% |
| Recurring financial income | 75 | €647 | €2 | -€645 | -99.7% |
| Financial charges | 65/66B | €793 | €1,430 | +€637 | +80.3% |
| Recurring financial charges | 65 | €793 | €1,430 | +€637 | +80.3% |
| Profit (loss) for the period before taxes | 9903 | €2,551 | €17,737 | +€15,186 | +595% |
| Income taxes | 67/77 | €842 | €3,997 | +€3,154 | +374% |
| Profit (loss) for the period | 9904 | €1,709 | €13,741 | +€12,032 | +704% |
| Profit (loss) for the period to be appropriated | 9905 | €1,709 | €13,741 | +€12,032 | +704% |
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 14 October 2026 via checked.be.