VR 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.
VR Construct
Largest movements
- Receivables within one year +€5,242
up €5,242 (+68.9%), from €7,612 to €12,854
of which Trade receivables: +€4,491
- Tangible fixed assets -€4,513
down €4,513 (-27.3%), from €16,502 to €11,989
of which Furniture and vehicles: -€7,575
- Cash -€4,400
down €4,400 (-18.1%), from €24,275 to €19,875
mainly Receivables within one year (-€5,242) and Stocks and contracts (-€4,287)
- Stocks and contracts +€4,287
new in 2025: €4,287
- Deferred charges and accrued income +€3,736
up €3,736 (+366%), from €1,022 to €4,758
- Trade debts +€6,029
new in 2025: €6,029
- Other debts +€3,313
up €3,313 (+1,390%), from €238 to €3,551
- Profit (loss) carried forward -€2,828
down €2,828, from €290 to -€2,538
- Tax, wage and social debts -€2,163
down €2,163 (-46.4%), from €4,662 to €2,500
of which Taxes: -€2,163
- Gross operating margin -€2,802
down €2,802 (-34.0%), from €8,248 to €5,446
- Staff costs -€262
no longer reported in 2025 (was €262)
- Taxes +€242
up €242, from -€213 to €29
- Depreciation +€151
up €151 (+2.0%), from €7,652 to €7,803
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 | €49,411 | €53,762 | +€4,351 | +8.8% |
| Fixed assets | 21/28 | €16,502 | €11,989 | -€4,513 | -27.3% |
| Tangible fixed assets | 22/27 | €16,502 | €11,989 | -€4,513 | -27.3% |
| Plant, machinery and equipment | 23 | €610 | €3,672 | +€3,062 | +502% |
| Furniture and vehicles | 24 | €15,891 | €8,316 | -€7,575 | -47.7% |
| Current assets | 29/58 | €32,909 | €41,773 | +€8,864 | +26.9% |
| Stocks and contracts in progress | 3 | - | €4,287 | +€4,287 | |
| Stocks | 30/36 | - | €4,287 | +€4,287 | |
| Amounts receivable within one year | 40/41 | €7,612 | €12,854 | +€5,242 | +68.9% |
| Trade receivables | 40 | €7,537 | €12,028 | +€4,491 | +59.6% |
| Other amounts receivable | 41 | €75 | €826 | +€751 | +998% |
| Cash at bank and in hand | 54/58 | €24,275 | €19,875 | -€4,400 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,022 | €4,758 | +€3,736 | +366% |
| Total equity and liabilities | 10/49 | €49,411 | €53,762 | +€4,351 | +8.8% |
| Equity | 10/15 | €44,510 | €41,682 | -€2,828 | -6.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €41,220 | €41,220 | = | 0.0% |
| Distributable reserves | 133 | €41,220 | €41,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | €290 | -€2,538 | -€2,828 | |
| Amounts payable | 17/49 | €4,901 | €12,080 | +€7,180 | +147% |
| Amounts payable within one year | 42/48 | €4,901 | €12,080 | +€7,180 | +147% |
| Trade debts | 44 | - | €6,029 | +€6,029 | |
| Suppliers | 440/4 | - | €6,029 | +€6,029 | |
| Taxes, remuneration and social security | 45 | €4,662 | €2,500 | -€2,163 | -46.4% |
| Taxes | 450/3 | €2,163 | - | -€2,163 | |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €238 | €3,551 | +€3,313 | +1,390% |
| Remuneration, social security and pensions | 62 | €262 | - | -€262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,652 | €7,803 | +€151 | +2.0% |
| Other operating charges | 640/8 | €417 | €429 | +€12 | +2.8% |
| Gross operating margin | 9900 | €8,248 | €5,446 | -€2,802 | -34.0% |
| Operating profit (loss) | 9901 | -€83 | -€2,786 | -€2,703 | -3,260% |
| Financial income | 75/76B | €4 | €34 | +€30 | +765% |
| Recurring financial income | 75 | €4 | €34 | +€30 | +765% |
| Financial charges | 65/66B | €50 | €48 | -€3 | -5.8% |
| Recurring financial charges | 65 | €50 | €48 | -€3 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€129 | -€2,800 | -€2,670 | -2,063% |
| Income taxes | 67/77 | -€213 | €29 | +€242 | |
| Profit (loss) for the period | 9904 | €83 | -€2,828 | -€2,912 | |
| Profit (loss) for the period to be appropriated | 9905 | €83 | -€2,828 | -€2,912 |
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 17 October 2026 via checked.be.