VL Building Projects: 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.
VL Building Projects
Largest movements
- Receivables within one year -€27,473
down €27,473 (-24.1%), from €114,146 to €86,673
of which Other amounts receivable: -€28,989
- Trade debts -€22,690
down €22,690 (-32.4%), from €69,957 to €47,266
- Debts after one year -€8,231
no longer reported in 2025 (was €8,231)
- Short-term financial debts +€7,069
up €7,069 (+874%), from €808 to €7,878
- Current portion of long-term debt -€4,295
no longer reported in 2025 (was €4,295)
- Tax, wage and social debts +€2,221
up €2,221 (+56.5%), from €3,929 to €6,150
of which Remuneration and social security: +€1,925
- Gross operating margin -€58,010
down €58,010 (-88.6%), from €65,467 to €7,457
- Taxes -€3,490
down €3,490 (-95.2%), from €3,668 to €178
- Financial income -€1,166
down €1,166 (-23.1%), from €5,057 to €3,890
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,478 | €98,710 | -€27,768 | -22.0% |
| Fixed assets | 21/28 | €9,757 | €9,820 | +€63 | +0.6% |
| Tangible fixed assets | 22/27 | €7,957 | €8,020 | +€63 | +0.8% |
| Land and buildings | 22 | - | €3,125 | +€3,125 | |
| Plant, machinery and equipment | 23 | €1,215 | €1,036 | -€179 | -14.7% |
| Furniture and vehicles | 24 | €83 | €3,859 | +€3,776 | +4,531% |
| Leasing and similar rights | 25 | €6,660 | - | -€6,660 | |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €116,721 | €88,890 | -€27,831 | -23.8% |
| Stocks and contracts in progress | 3 | €650 | €650 | = | 0.0% |
| Stocks | 30/36 | €650 | €650 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €114,146 | €86,673 | -€27,473 | -24.1% |
| Trade receivables | 40 | €24,594 | €26,110 | +€1,516 | +6.2% |
| Other amounts receivable | 41 | €89,552 | €60,563 | -€28,989 | -32.4% |
| Deferred charges and accrued income | 490/1 | €1,924 | €1,567 | -€358 | -18.6% |
| Total equity and liabilities | 10/49 | €126,478 | €98,710 | -€27,768 | -22.0% |
| Equity | 10/15 | €29,231 | €27,247 | -€1,984 | -6.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,231 | €22,247 | -€1,984 | -8.2% |
| Distributable reserves | 133 | €24,231 | €22,247 | -€1,984 | -8.2% |
| Amounts payable | 17/49 | €97,248 | €71,464 | -€25,784 | -26.5% |
| Amounts payable after more than one year | 17 | €8,231 | - | -€8,231 | |
| Financial debts | 170/4 | €8,231 | - | -€8,231 | |
| Amounts payable within one year | 42/48 | €88,989 | €71,294 | -€17,695 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €4,295 | - | -€4,295 | |
| Financial debts | 43 | €808 | €7,878 | +€7,069 | +874% |
| Credit institutions | 430/8 | €808 | €7,878 | +€7,069 | +874% |
| Trade debts | 44 | €69,957 | €47,266 | -€22,690 | -32.4% |
| Suppliers | 440/4 | €69,957 | €47,266 | -€22,690 | -32.4% |
| Taxes, remuneration and social security | 45 | €3,929 | €6,150 | +€2,221 | +56.5% |
| Taxes | 450/3 | €3,929 | €4,225 | +€296 | +7.5% |
| Remuneration and social security | 454/9 | - | €1,925 | +€1,925 | |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €28 | €169 | +€142 | +515% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,141 | €7,734 | -€407 | -5.0% |
| Other operating charges | 640/8 | €1,886 | €1,525 | -€361 | -19.1% |
| Gross operating margin | 9900 | €65,467 | €7,457 | -€58,010 | -88.6% |
| Operating profit (loss) | 9901 | €55,440 | -€1,803 | -€57,243 | |
| Financial income | 75/76B | €5,057 | €3,890 | -€1,166 | -23.1% |
| Recurring financial income | 75 | €5,057 | €3,890 | -€1,166 | -23.1% |
| Financial charges | 65/66B | €4,006 | €3,894 | -€113 | -2.8% |
| Recurring financial charges | 65 | €4,006 | €3,894 | -€113 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €56,490 | -€1,806 | -€58,296 | |
| Income taxes | 67/77 | €3,668 | €178 | -€3,490 | -95.2% |
| Profit (loss) for the period | 9904 | €52,822 | -€1,984 | -€54,806 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,822 | -€1,984 | -€54,806 |
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.