VUD CONSTRUCT: what changed
Two fiscal 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.
VUD CONSTRUCT
Largest movements
- Receivables within one year +€24,502
up €24,502 (+226.7%), from €10,807 to €35,308
of which Trade receivables: +€25,049
- Tangible fixed assets +€13,683
new in 2025: €13,683
of which Furniture and vehicles: +€9,717
- Current investments +€1,702
up €1,702 (+74.7%), from €2,277 to €3,980
- Debts after one year +€23,967
new in 2025: €23,967
- Current portion of long-term debt +€5,001
new in 2025: €5,001
- Other debts +€4,219
up €4,219 (+786.6%), from €536 to €4,755
- Profit (loss) carried forward +€2,889
up €2,889 (+24.8%), from €11,628 to €14,517
- Trade debts +€2,870
up €2,870 (+401.2%), from €715 to €3,585
- Gross operating margin +€10,996
up €10,996 (+832.8%), from €1,320 to €12,317
- Depreciation +€6,842
new in 2025: €6,842
- Taxes +€1,203
up €1,203 (+589.7%), from €204 to €1,407
- Other operating charges +€769
new in 2025: €769
- Write-downs -€387
no longer reported in 2025 (was €387)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,084 | €52,971 | +€39,887 | +304.9% |
| Fixed assets | 21/28 | - | €13,683 | +€13,683 | |
| Tangible fixed assets | 22/27 | - | €13,683 | +€13,683 | |
| Plant, machinery and equipment | 23 | - | €3,967 | +€3,967 | |
| Furniture and vehicles | 24 | - | €9,717 | +€9,717 | |
| Current assets | 29/58 | €13,084 | €39,288 | +€26,204 | +200.3% |
| Amounts receivable within one year | 40/41 | €10,807 | €35,308 | +€24,502 | +226.7% |
| Trade receivables | 40 | €9,933 | €34,982 | +€25,049 | +252.2% |
| Other amounts receivable | 41 | €874 | €326 | -€548 | -62.7% |
| Current investments | 50/53 | €2,277 | €3,980 | +€1,702 | +74.7% |
| Total equity and liabilities | 10/49 | €13,084 | €52,971 | +€39,887 | +304.9% |
| Equity | 10/15 | €11,628 | €14,517 | +€2,889 | +24.8% |
| Profit (loss) carried forward | 14 | €11,628 | €14,517 | +€2,889 | +24.8% |
| Amounts payable | 17/49 | €1,456 | €38,454 | +€36,998 | +2541.8% |
| Amounts payable after more than one year | 17 | - | €23,967 | +€23,967 | |
| Financial debts | 170/4 | - | €23,967 | +€23,967 | |
| Amounts payable within one year | 42/48 | €1,456 | €14,487 | +€13,031 | +895.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,001 | +€5,001 | |
| Trade debts | 44 | €715 | €3,585 | +€2,870 | +401.2% |
| Suppliers | 440/4 | €715 | €3,585 | +€2,870 | +401.2% |
| Taxes, remuneration and social security | 45 | €204 | €1,146 | +€942 | +462.0% |
| Taxes | 450/3 | €204 | €1,146 | +€942 | +462.0% |
| Other amounts payable | 47/48 | €536 | €4,755 | +€4,219 | +786.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,842 | +€6,842 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €387 | - | -€387 | |
| Other operating charges | 640/8 | - | €769 | +€769 | |
| Gross operating margin | 9900 | €1,320 | €12,317 | +€10,996 | +832.8% |
| Operating profit (loss) | 9901 | €933 | €4,706 | +€3,773 | +404.3% |
| Financial charges | 65/66B | €169 | €410 | +€241 | +143.0% |
| Recurring financial charges | 65 | €169 | €410 | +€241 | +143.0% |
| Profit (loss) for the period before taxes | 9903 | €764 | €4,296 | +€3,531 | +462.0% |
| Income taxes | 67/77 | €204 | €1,407 | +€1,203 | +589.7% |
| Profit (loss) for the period | 9904 | €560 | €2,889 | +€2,328 | +415.5% |
| Profit (loss) for the period to be appropriated | 9905 | €560 | €2,889 | +€2,328 | +415.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.