VP 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.
VP CONSTRUCT
Largest movements
- Stocks and contracts +€203,288
up €203,288 (+310.1%), from €65,566 to €268,854
- Deferred charges and accrued income +€43,619
up €43,619 (+495.0%), from €8,812 to €52,431
- Tangible fixed assets -€12,595
down €12,595 (-4.0%), from €316,632 to €304,037
of which Land and buildings: -€12,595
- Receivables within one year -€12,305
down €12,305 (-12.4%), from €99,161 to €86,857
of which Trade receivables: -€13,586
- Contributions +€300,000
up €300,000 (+1200.0%), from €25,000 to €325,000
- Trade debts -€79,957
down €79,957 (-81.7%), from €97,835 to €17,877
- Profit (loss) carried forward +€23,462
up €23,462 (+9.4%), from -€248,510 to -€225,048
- Debts after one year -€11,978
down €11,978 (-3.1%), from €384,059 to €372,082
of which Financial debts: -€21,917
- Tax, wage and social debts -€10,675
down €10,675 (-96.8%), from €11,024 to €348
- Gross operating margin +€83,785
up €83,785, from -€22,864 to €60,921
- Financial charges -€1,505
down €1,505 (-6.7%), from €22,581 to €21,076
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 | €490,171 | €712,634 | +€222,463 | +45.4% |
| Fixed assets | 21/28 | €316,632 | €304,037 | -€12,595 | -4.0% |
| Tangible fixed assets | 22/27 | €316,632 | €304,037 | -€12,595 | -4.0% |
| Land and buildings | 22 | €316,632 | €304,037 | -€12,595 | -4.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €173,539 | €408,597 | +€235,058 | +135.4% |
| Stocks and contracts in progress | 3 | €65,566 | €268,854 | +€203,288 | +310.1% |
| Stocks | 30/36 | €65,566 | €268,854 | +€203,288 | +310.1% |
| Amounts receivable within one year | 40/41 | €99,161 | €86,857 | -€12,305 | -12.4% |
| Trade receivables | 40 | €94,769 | €81,183 | -€13,586 | -14.3% |
| Other amounts receivable | 41 | €4,392 | €5,674 | +€1,281 | +29.2% |
| Cash at bank and in hand | 54/58 | €0 | €455 | +€455 | |
| Deferred charges and accrued income | 490/1 | €8,812 | €52,431 | +€43,619 | +495.0% |
| Total equity and liabilities | 10/49 | €490,171 | €712,634 | +€222,463 | +45.4% |
| Equity | 10/15 | -€220,953 | €102,509 | +€323,462 | |
| Contributions | 10/11 | €25,000 | €325,000 | +€300,000 | +1200.0% |
| Reserves | 13 | €2,557 | €2,557 | = | 0.0% |
| Tax-exempt reserves | 132 | €57 | €57 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,510 | -€225,048 | +€23,462 | +9.4% |
| Amounts payable | 17/49 | €711,124 | €610,124 | -€100,999 | -14.2% |
| Amounts payable after more than one year | 17 | €384,059 | €372,082 | -€11,978 | -3.1% |
| Financial debts | 170/4 | €263,501 | €241,585 | -€21,917 | -8.3% |
| Other amounts payable | 178/9 | €120,558 | €130,497 | +€9,939 | +8.2% |
| Amounts payable within one year | 42/48 | €311,737 | €221,431 | -€90,306 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €21,527 | €21,917 | +€390 | +1.8% |
| Financial debts | 43 | €150,564 | €150,000 | -€564 | -0.4% |
| Credit institutions | 430/8 | €150,564 | €150,000 | -€564 | -0.4% |
| Trade debts | 44 | €97,835 | €17,877 | -€79,957 | -81.7% |
| Suppliers | 440/4 | €97,835 | €17,877 | -€79,957 | -81.7% |
| Taxes, remuneration and social security | 45 | €11,024 | €348 | -€10,675 | -96.8% |
| Taxes | 450/3 | €11,024 | €348 | -€10,675 | -96.8% |
| Other amounts payable | 47/48 | €30,788 | €31,288 | +€500 | +1.6% |
| Accrued charges and deferred income | 492/3 | €15,327 | €16,612 | +€1,285 | +8.4% |
| Non-recurring operating income | 76A | €47,253 | €0 | -€47,253 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,789 | €12,595 | -€194 | -1.5% |
| Other operating charges | 640/8 | €3,657 | €3,803 | +€147 | +4.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€22,864 | €60,921 | +€83,785 | |
| Operating profit (loss) | 9901 | -€39,310 | €44,522 | +€83,833 | |
| Financial income | 75/76B | €0 | €16 | +€16 | |
| Recurring financial income | 75 | €0 | €16 | +€16 | |
| Financial charges | 65/66B | €22,581 | €21,076 | -€1,505 | -6.7% |
| Recurring financial charges | 65 | €22,581 | €21,076 | -€1,505 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€61,891 | €23,462 | +€85,354 | |
| Profit (loss) for the period | 9904 | -€61,891 | €23,462 | +€85,354 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,891 | €23,462 | +€85,354 |
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 11 October 2026 via checked.be.