VO Constructions: 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.
VO Constructions
Largest movements
- Cash +€52,146
up €52,146 (+350.8%), from €14,863 to €67,009
mainly Net result for the year (+€45,140) and Depreciation (+€18,444)
- Tangible fixed assets -€17,217
down €17,217 (-28.7%), from €60,036 to €42,819
of which Furniture and vehicles: -€18,017
- Reserves +€43,600
up €43,600 (+143.9%), from €30,300 to €73,900
- Tax, wage and social debts +€10,826
up €10,826 (+131.7%), from €8,222 to €19,048
of which Taxes: +€15,379
- Debts after one year -€10,077
down €10,077 (-41.2%), from €24,479 to €14,401
- Trade debts -€9,005
down €9,005 (-62.6%), from €14,388 to €5,383
- Other debts -€1,896
down €1,896 (-62.9%), from €3,016 to €1,120
- Gross operating margin +€60,362
up €60,362 (+233.2%), from €25,889 to €86,251
- Taxes +€15,817
up €15,817 (+610.1%), from €2,592 to €18,409
- Depreciation +€6,912
up €6,912 (+59.9%), from €11,532 to €18,444
- Financial charges -€4,241
down €4,241 (-68.0%), from €6,241 to €2,000
- Other operating charges +€1,395
up €1,395 (+156.1%), from €893 to €2,288
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.
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 | €93,015 | €126,983 | +€33,968 | +36.5% |
| Fixed assets | 21/28 | €60,036 | €42,904 | -€17,132 | -28.5% |
| Tangible fixed assets | 22/27 | €60,036 | €42,819 | -€17,217 | -28.7% |
| Plant, machinery and equipment | 23 | €1,098 | €1,899 | +€801 | +72.9% |
| Furniture and vehicles | 24 | €58,938 | €40,921 | -€18,017 | -30.6% |
| Financial fixed assets | 28 | - | €85 | +€85 | |
| Current assets | 29/58 | €32,979 | €84,079 | +€51,100 | +154.9% |
| Amounts receivable within one year | 40/41 | €18,116 | €17,070 | -€1,046 | -5.8% |
| Trade receivables | 40 | €17,239 | €15,878 | -€1,361 | -7.9% |
| Other amounts receivable | 41 | €877 | €1,192 | +€315 | +35.9% |
| Cash at bank and in hand | 54/58 | €14,863 | €67,009 | +€52,146 | +350.8% |
| Total equity and liabilities | 10/49 | €93,015 | €126,983 | +€33,968 | +36.5% |
| Equity | 10/15 | €33,413 | €76,953 | +€43,540 | +130.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,300 | €73,900 | +€43,600 | +143.9% |
| Distributable reserves | 133 | €30,300 | €73,900 | +€43,600 | +143.9% |
| Profit (loss) carried forward | 14 | €113 | €53 | -€60 | -53.3% |
| Amounts payable | 17/49 | €59,602 | €50,031 | -€9,572 | -16.1% |
| Amounts payable after more than one year | 17 | €24,479 | €14,401 | -€10,077 | -41.2% |
| Financial debts | 170/4 | €24,479 | €14,401 | -€10,077 | -41.2% |
| Amounts payable within one year | 42/48 | €35,123 | €35,629 | +€506 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €9,496 | €10,077 | +€581 | +6.1% |
| Trade debts | 44 | €14,388 | €5,383 | -€9,005 | -62.6% |
| Suppliers | 440/4 | €14,388 | €5,383 | -€9,005 | -62.6% |
| Taxes, remuneration and social security | 45 | €8,222 | €19,048 | +€10,826 | +131.7% |
| Taxes | 450/3 | €3,669 | €19,048 | +€15,379 | +419.1% |
| Remuneration and social security | 454/9 | €4,553 | - | -€4,553 | |
| Other amounts payable | 47/48 | €3,016 | €1,120 | -€1,896 | -62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,532 | €18,444 | +€6,912 | +59.9% |
| Other operating charges | 640/8 | €893 | €2,288 | +€1,395 | +156.1% |
| Gross operating margin | 9900 | €25,889 | €86,251 | +€60,362 | +233.2% |
| Operating profit (loss) | 9901 | €13,464 | €65,520 | +€52,056 | +386.6% |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €6,241 | €2,000 | -€4,241 | -68.0% |
| Recurring financial charges | 65 | €6,241 | €2,000 | -€4,241 | -68.0% |
| Profit (loss) for the period before taxes | 9903 | €7,223 | €63,549 | +€56,326 | +779.9% |
| Income taxes | 67/77 | €2,592 | €18,409 | +€15,817 | +610.1% |
| Profit (loss) for the period | 9904 | €4,630 | €45,140 | +€40,509 | +874.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,630 | €45,140 | +€40,509 | +874.9% |
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 11 October 2026 via checked.be.