VPMConstruct: 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.
VPMConstruct
Largest movements
- Stocks and contracts -€175,953
no longer reported in 2025 (was €175,953)
- Receivables within one year +€109,924
up €109,924 (+48.8%), from €225,076 to €335,000
- Cash +€47,123
up €47,123 (+4441.8%), from €1,061 to €48,184
mainly Stocks and contracts (+€175,953) and Tax, wage and social debts (+€28,942)
- Financial fixed assets -€4,200
no longer reported in 2025 (was €4,200)
- Profit (loss) carried forward -€52,227
down €52,227 (-6685.7%), from -€781 to -€53,008
- Tax, wage and social debts +€28,942
up €28,942 (+1039.1%), from €2,785 to €31,728
- Gross operating margin -€47,845
down €47,845 (-1156.7%), from -€4,136 to -€51,981
- Financial income -€3,605
no longer reported in 2025 (was €3,605)
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 | €406,290 | €383,184 | -€23,107 | -5.7% |
| Fixed assets | 21/28 | €4,200 | - | -€4,200 | |
| Financial fixed assets | 28 | €4,200 | - | -€4,200 | |
| Current assets | 29/58 | €402,090 | €383,184 | -€18,907 | -4.7% |
| Stocks and contracts in progress | 3 | €175,953 | - | -€175,953 | |
| Stocks | 30/36 | €175,953 | - | -€175,953 | |
| Amounts receivable within one year | 40/41 | €225,076 | €335,000 | +€109,924 | +48.8% |
| Other amounts receivable | 41 | €225,076 | €335,000 | +€109,924 | +48.8% |
| Cash at bank and in hand | 54/58 | €1,061 | €48,184 | +€47,123 | +4441.8% |
| Total equity and liabilities | 10/49 | €406,290 | €383,184 | -€23,107 | -5.7% |
| Equity | 10/15 | €290,907 | €238,680 | -€52,227 | -18.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €279,288 | €279,288 | = | 0.0% |
| Distributable reserves | 133 | €279,288 | €279,288 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€781 | -€53,008 | -€52,227 | -6685.7% |
| Amounts payable | 17/49 | €115,383 | €144,504 | +€29,120 | +25.2% |
| Amounts payable within one year | 42/48 | €115,383 | €144,504 | +€29,120 | +25.2% |
| Taxes, remuneration and social security | 45 | €2,785 | €31,728 | +€28,942 | +1039.1% |
| Taxes | 450/3 | €2,785 | €31,728 | +€28,942 | +1039.1% |
| Other amounts payable | 47/48 | €112,598 | €112,776 | +€178 | +0.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€4,136 | -€51,981 | -€47,845 | -1156.7% |
| Operating profit (loss) | 9901 | -€4,254 | -€52,101 | -€47,847 | -1124.6% |
| Financial income | 75/76B | €3,605 | - | -€3,605 | |
| Recurring financial income | 75 | €3,605 | - | -€3,605 | |
| Financial charges | 65/66B | €131 | €126 | -€6 | -4.2% |
| Recurring financial charges | 65 | €131 | €126 | -€6 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€781 | -€52,227 | -€51,446 | -6585.7% |
| Profit (loss) for the period | 9904 | -€781 | -€52,227 | -€51,446 | -6585.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€781 | -€52,227 | -€51,446 | -6585.7% |
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 10 October 2026 via checked.be.