VLAD 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.
VLAD CONSTRUCT
Largest movements
- Receivables within one year -€60,722
down €60,722 (-70.7%), from €85,869 to €25,147
of which Trade receivables: -€59,662
- Cash +€23,781
up €23,781 (+60.7%), from €39,203 to €62,984
mainly Receivables within one year (+€60,722) and Depreciation (+€21,127)
- Tangible fixed assets -€17,694
down €17,694 (-19.5%), from €90,899 to €73,205
of which Furniture and vehicles: -€20,517
- Deferred charges and accrued income -€15,116
no longer reported in 2025 (was €15,116)
- Trade debts -€81,413
down €81,413 (-86.8%), from €93,788 to €12,374
of which Bills of exchange payable: -€72,092
- Debts after one year +€11,667
up €11,667 (+17.8%), from €65,670 to €77,337
- Tax, wage and social debts -€9,268
down €9,268 (-57.8%), from €16,021 to €6,753
of which Remuneration and social security: -€5,458
- Current portion of long-term debt +€6,472
up €6,472 (+27.7%), from €23,361 to €29,833
- Profit (loss) carried forward +€5,279
up €5,279 (+24.4%), from €21,596 to €26,875
- Purchases and services +€73,846
up €73,846 (+9.2%), from €804,300 to €878,146
- Turnover +€67,405
up €67,405 (+8.0%), from €842,910 to €910,315
- Depreciation +€14,900
up €14,900 (+239%), from €6,227 to €21,127
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 | €231,196 | €161,445 | -€69,750 | -30.2% |
| Fixed assets | 21/28 | €91,008 | €73,314 | -€17,694 | -19.4% |
| Tangible fixed assets | 22/27 | €90,899 | €73,205 | -€17,694 | -19.5% |
| Plant, machinery and equipment | 23 | - | €2,822 | +€2,822 | |
| Furniture and vehicles | 24 | €90,899 | €70,383 | -€20,517 | -22.6% |
| Financial fixed assets | 28 | €109 | €109 | = | 0.0% |
| Current assets | 29/58 | €140,187 | €88,131 | -€52,056 | -37.1% |
| Amounts receivable within one year | 40/41 | €85,869 | €25,147 | -€60,722 | -70.7% |
| Trade receivables | 40 | €84,809 | €25,147 | -€59,662 | -70.3% |
| Other amounts receivable | 41 | €1,060 | - | -€1,060 | |
| Cash at bank and in hand | 54/58 | €39,203 | €62,984 | +€23,781 | +60.7% |
| Deferred charges and accrued income | 490/1 | €15,116 | - | -€15,116 | |
| Total equity and liabilities | 10/49 | €231,196 | €161,445 | -€69,750 | -30.2% |
| Equity | 10/15 | €29,656 | €34,935 | +€5,279 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,596 | €26,875 | +€5,279 | +24.4% |
| Amounts payable | 17/49 | €201,540 | €126,511 | -€75,029 | -37.2% |
| Amounts payable after more than one year | 17 | €65,670 | €77,337 | +€11,667 | +17.8% |
| Financial debts | 170/4 | €65,670 | €77,337 | +€11,667 | +17.8% |
| Amounts payable within one year | 42/48 | €135,870 | €49,173 | -€86,696 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €23,361 | €29,833 | +€6,472 | +27.7% |
| Trade debts | 44 | €93,788 | €12,374 | -€81,413 | -86.8% |
| Suppliers | 440/4 | €18,900 | €9,579 | -€9,321 | -49.3% |
| Bills of exchange payable | 441 | €74,887 | €2,795 | -€72,092 | -96.3% |
| Advances received on contracts in progress | 46 | - | €213 | +€213 | |
| Taxes, remuneration and social security | 45 | €16,021 | €6,753 | -€9,268 | -57.8% |
| Taxes | 450/3 | €9,194 | €5,384 | -€3,810 | -41.4% |
| Remuneration and social security | 454/9 | €6,828 | €1,370 | -€5,458 | -79.9% |
| Other amounts payable | 47/48 | €2,700 | - | -€2,700 | |
| Turnover | 70 | €842,910 | €910,315 | +€67,405 | +8.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €804,300 | €878,146 | +€73,846 | +9.2% |
| Remuneration, social security and pensions | 62 | €1,832 | €1,303 | -€529 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,227 | €21,127 | +€14,900 | +239% |
| Other operating charges | 640/8 | €12,653 | €4,130 | -€8,522 | -67.4% |
| Gross operating margin | 9900 | €42,539 | €43,695 | +€1,156 | +2.7% |
| Operating profit (loss) | 9901 | €21,828 | €17,135 | -€4,693 | -21.5% |
| Financial income | 75/76B | €25 | €3 | -€22 | -87.6% |
| Recurring financial income | 75 | €25 | €3 | -€22 | -87.6% |
| Financial charges | 65/66B | €2,983 | €5,770 | +€2,787 | +93.4% |
| Recurring financial charges | 65 | €2,983 | €5,770 | +€2,787 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | €18,870 | €11,368 | -€7,502 | -39.8% |
| Income taxes | 67/77 | €11,668 | €6,089 | -€5,579 | -47.8% |
| Profit (loss) for the period | 9904 | €7,202 | €5,279 | -€1,922 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,202 | €5,279 | -€1,922 | -26.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.