VTT Renovations: 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.
VTT Renovations
Largest movements
- Stocks and contracts -€525,000
down €525,000 (-34.4%), from €1.5m to €1.0m
of which Contracts in progress: -€430,000
- Receivables within one year +€294,301
up €294,301 (+57.2%), from €514,322 to €808,623
of which Trade receivables: +€251,313
- Cash -€151,789
down €151,789 (-92.5%), from €164,097 to €12,308
mainly Short-term financial debts (-€746,404) and Receivables within one year (-€294,301)
- Short-term financial debts -€746,404
down €746,404 (-72.4%), from €1.0m to €283,830
- Other debts +€272,191
up €272,191 (+41.8%), from €651,204 to €923,395
- Trade debts +€124,230
up €124,230 (+26.2%), from €474,612 to €598,841
- Profit (loss) carried forward -€40,797
new in 2025: -€40,797
- Gross operating margin -€120,165
down €120,165 (-63.8%), from €188,336 to €68,171
- Staff costs -€67,523
down €67,523 (-93.6%), from €72,151 to €4,628
- Taxes -€4,374
down €4,374 (-100%), from €4,374 to €0
- Financial charges -€4,006
down €4,006 (-4.9%), from €82,233 to €78,227
of which Financial charges: -€9,634
- Other operating charges +€3,802
up €3,802 (+317%), from €1,199 to €5,001
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 | €2,280,256 | €1,875,372 | -€404,884 | -17.8% |
| Fixed assets | 21/28 | €74,822 | €53,421 | -€21,401 | -28.6% |
| Tangible fixed assets | 22/27 | €71,022 | €49,621 | -€21,401 | -30.1% |
| Plant, machinery and equipment | 23 | €10,612 | €7,182 | -€3,430 | -32.3% |
| Furniture and vehicles | 24 | €60,410 | €42,439 | -€17,971 | -29.7% |
| Financial fixed assets | 28 | €3,800 | €3,800 | = | 0.0% |
| Current assets | 29/58 | €2,205,434 | €1,821,951 | -€383,483 | -17.4% |
| Stocks and contracts in progress | 3 | €1,525,000 | €1,000,000 | -€525,000 | -34.4% |
| Stocks | 30/36 | €95,000 | €0 | -€95,000 | -100% |
| Contracts in progress | 37 | €1,430,000 | €1,000,000 | -€430,000 | -30.1% |
| Amounts receivable within one year | 40/41 | €514,322 | €808,623 | +€294,301 | +57.2% |
| Trade receivables | 40 | €482,822 | €734,135 | +€251,313 | +52.1% |
| Other amounts receivable | 41 | €31,500 | €74,489 | +€42,989 | +136% |
| Cash at bank and in hand | 54/58 | €164,097 | €12,308 | -€151,789 | -92.5% |
| Deferred charges and accrued income | 490/1 | €2,015 | €1,019 | -€996 | -49.4% |
| Total equity and liabilities | 10/49 | €2,280,256 | €1,875,372 | -€404,884 | -17.8% |
| Equity | 10/15 | €64,533 | €23,735 | -€40,797 | -63.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €49,533 | €49,533 | = | 0.0% |
| Distributable reserves | 133 | €49,533 | €49,533 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€40,797 | -€40,797 | |
| Amounts payable | 17/49 | €2,215,723 | €1,851,637 | -€364,086 | -16.4% |
| Amounts payable after more than one year | 17 | €20,387 | €8,650 | -€11,738 | -57.6% |
| Financial debts | 170/4 | €20,387 | €8,650 | -€11,738 | -57.6% |
| Amounts payable within one year | 42/48 | €2,192,218 | €1,841,282 | -€350,936 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €11,266 | €11,738 | +€472 | +4.2% |
| Financial debts | 43 | €1,030,235 | €283,830 | -€746,404 | -72.4% |
| Credit institutions | 430/8 | €1,030,235 | €283,830 | -€746,404 | -72.4% |
| Trade debts | 44 | €474,612 | €598,841 | +€124,230 | +26.2% |
| Suppliers | 440/4 | €474,612 | €598,841 | +€124,230 | +26.2% |
| Taxes, remuneration and social security | 45 | €24,902 | €23,478 | -€1,424 | -5.7% |
| Taxes | 450/3 | €24,902 | €23,478 | -€1,424 | -5.7% |
| Other amounts payable | 47/48 | €651,204 | €923,395 | +€272,191 | +41.8% |
| Accrued charges and deferred income | 492/3 | €3,117 | €1,705 | -€1,413 | -45.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €72,151 | €4,628 | -€67,523 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,729 | €21,401 | +€672 | +3.2% |
| Other operating charges | 640/8 | €1,199 | €5,001 | +€3,802 | +317% |
| Gross operating margin | 9900 | €188,336 | €68,171 | -€120,165 | -63.8% |
| Operating profit (loss) | 9901 | €94,257 | €37,142 | -€57,116 | -60.6% |
| Financial income | 75/76B | €1 | €288 | +€286 | +19,349% |
| Recurring financial income | 75 | €1 | €288 | +€286 | +19,349% |
| Financial charges | 65/66B | €82,233 | €78,227 | -€4,006 | -4.9% |
| Recurring financial charges | 65 | €79,233 | €69,599 | -€9,634 | -12.2% |
| Non-recurring financial charges | 66B | €3,000 | €8,628 | +€5,628 | +188% |
| Profit (loss) for the period before taxes | 9903 | €12,026 | -€40,797 | -€52,824 | |
| Income taxes | 67/77 | €4,374 | €0 | -€4,374 | -100% |
| Profit (loss) for the period | 9904 | €7,652 | -€40,797 | -€48,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,652 | -€40,797 | -€48,449 |
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 31 October 2026 via checked.be.