VPI-Build: 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.
VPI-Build
Largest movements
- Current investments +€307,487
new in 2025: €307,487
- Cash -€106,960
down €106,960 (-34.7%), from €308,176 to €201,215
mainly Contributions, distributions and other (-€562,000) and Current investments (-€307,487)
- Receivables within one year -€26,990
down €26,990 (-100.0%), from €26,990 to €0
- Other debts +€531,960
up €531,960 (+1723.9%), from €30,859 to €562,819
- Profit (loss) carried forward -€339,521
down €339,521 (-99.8%), from €340,138 to €617
- Debts after one year -€12,009
down €12,009 (-100.0%), from €12,009 to €0
- Current portion of long-term debt -€8,364
down €8,364 (-41.1%), from €20,373 to €12,009
- Gross operating margin +€119,408
up €119,408 (+65.8%), from €181,607 to €301,014
- Taxes +€32,176
up €32,176 (+78.4%), from €41,022 to €73,198
- Financial income +€3,750
up €3,750, from €0 to €3,750
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 | €464,592 | €634,884 | +€170,293 | +36.7% |
| Fixed assets | 21/28 | €129,426 | €123,775 | -€5,651 | -4.4% |
| Tangible fixed assets | 22/27 | €129,426 | €123,775 | -€5,651 | -4.4% |
| Land and buildings | 22 | €114,901 | €113,529 | -€1,372 | -1.2% |
| Plant, machinery and equipment | 23 | €900 | €561 | -€339 | -37.6% |
| Furniture and vehicles | 24 | €4,436 | €3,718 | -€718 | -16.2% |
| Other tangible fixed assets | 26 | €9,189 | €5,967 | -€3,222 | -35.1% |
| Current assets | 29/58 | €335,166 | €511,109 | +€175,943 | +52.5% |
| Amounts receivable within one year | 40/41 | €26,990 | €0 | -€26,990 | -100.0% |
| Trade receivables | 40 | €26,990 | €0 | -€26,990 | -100.0% |
| Current investments | 50/53 | - | €307,487 | +€307,487 | |
| Cash at bank and in hand | 54/58 | €308,176 | €201,215 | -€106,960 | -34.7% |
| Deferred charges and accrued income | 490/1 | - | €2,406 | +€2,406 | |
| Total equity and liabilities | 10/49 | €464,592 | €634,884 | +€170,293 | +36.7% |
| Equity | 10/15 | €381,138 | €41,617 | -€339,521 | -89.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €340,138 | €617 | -€339,521 | -99.8% |
| Amounts payable | 17/49 | €83,454 | €593,267 | +€509,814 | +610.9% |
| Amounts payable after more than one year | 17 | €12,009 | €0 | -€12,009 | -100.0% |
| Financial debts | 170/4 | €12,009 | €0 | -€12,009 | -100.0% |
| Amounts payable within one year | 42/48 | €71,445 | €592,782 | +€521,337 | +729.7% |
| Current portion of amounts payable after more than one year | 42 | €20,373 | €12,009 | -€8,364 | -41.1% |
| Trade debts | 44 | €925 | €1,051 | +€125 | +13.5% |
| Suppliers | 440/4 | €925 | €1,051 | +€125 | +13.5% |
| Taxes, remuneration and social security | 45 | €19,288 | €16,904 | -€2,384 | -12.4% |
| Taxes | 450/3 | €19,288 | €14,509 | -€4,779 | -24.8% |
| Remuneration and social security | 454/9 | €0 | €2,395 | +€2,395 | |
| Other amounts payable | 47/48 | €30,859 | €562,819 | +€531,960 | +1723.9% |
| Accrued charges and deferred income | 492/3 | €0 | €485 | +€485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,476 | €6,886 | +€1,410 | +25.8% |
| Other operating charges | 640/8 | €1,152 | €1,026 | -€127 | -11.0% |
| Gross operating margin | 9900 | €181,607 | €301,014 | +€119,408 | +65.8% |
| Operating profit (loss) | 9901 | €174,978 | €293,102 | +€118,124 | +67.5% |
| Financial income | 75/76B | €0 | €3,750 | +€3,750 | |
| Recurring financial income | 75 | €0 | €3,750 | +€3,750 | |
| Financial charges | 65/66B | €1,045 | €1,175 | +€130 | +12.5% |
| Recurring financial charges | 65 | €1,045 | €1,175 | +€130 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €173,933 | €295,677 | +€121,744 | +70.0% |
| Income taxes | 67/77 | €41,022 | €73,198 | +€32,176 | +78.4% |
| Profit (loss) for the period | 9904 | €132,911 | €222,479 | +€89,568 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €132,911 | €222,479 | +€89,568 | +67.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.