VUYLSTEKE 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.
What changed
VUYLSTEKE CONSTRUCT
NACE 43.910, Bricklaying and masonry work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€434,517
2024 · -€498,978+€64,460
Equity
€172,508
2024 · €607,025-€434,517
Cash
€34,593
2024 · €487,584-€452,991
Balance sheet total
€1.6m
2024 · €910,358+€718,295
Largest movements
Assets
- Stocks and contracts +€1.1m
up €1.1m (+605%), from €189,823 to €1.3m
- Cash -€452,991
down €452,991 (-92.9%), from €487,584 to €34,593
mainly Stocks and contracts (-€1.1m) and Net result for the year (-€434,517)
Equity and liabilities
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Reserves -€434,517
down €434,517 (-83.2%), from €522,025 to €87,508
of which Distributable reserves: -€434,517
- Other debts +€101,518
new in 2025: €101,518
- Trade debts +€36,672
up €36,672 (+16.8%), from €218,329 to €255,001
Income statement
- Gross operating margin +€108,058
up €108,058 (+22.5%), from -€480,561 to -€372,503
- Financial charges +€37,002
up €37,002 (+717%), from €5,158 to €42,160
- Financial income -€5,289
down €5,289 (-33.6%), from €15,754 to €10,465
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.
Result 2024
-€498,978
Gross operating margin
+€108,058
Depreciation
+€394
Other operating charges
-€1,236
Financial income
-€5,289
Financial charges
-€37,002
Taxes
-€465
Result 2025
-€434,517
raises the resultlowers the result
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.
From operations
-€1.4m
Investment
-€23,739
Financing
+€1.0m
Cash 2024
€487,584
From operations (derived)
-€1.4m
Net result for the year
-€434,517
Depreciation
+€25,625
Stocks and contracts
-€1.1m
Receivables within one year
-€13,806
Deferred charges and accrued income
-€10,234
Trade debts
+€36,672
Tax, wage and social debts
+€465
Other debts
+€101,518
Accrued charges and deferred income
+€4,087
Investment (derived)
-€23,739
Investment in fixed assets (net)
-€23,739
Financing
+€1.0m
Debts after one year
-€15,368
Current portion of long-term debt
+€438
Short-term financial debts
+€1.0m
Contributions, distributions and other
-€0
Cash 2025
€34,593
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €910,358 | €1,628,653 | +€718,295 | +78.9% |
| Fixed assets | 21/28 | €115,296 | €113,409 | -€1,887 | -1.6% |
| Tangible fixed assets | 22/27 | €115,296 | €111,409 | -€3,887 | -3.4% |
| Furniture and vehicles | 24 | €45,296 | €55,409 | +€10,113 | +22.3% |
| Leasing and similar rights | 25 | €70,000 | €56,000 | -€14,000 | -20.0% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €795,063 | €1,515,244 | +€720,181 | +90.6% |
| Stocks and contracts in progress | 3 | €189,823 | €1,338,955 | +€1.1m | +605% |
| Stocks | 30/36 | €189,823 | €1,338,955 | +€1.1m | +605% |
| Amounts receivable within one year | 40/41 | €103,303 | €117,108 | +€13,806 | +13.4% |
| Trade receivables | 40 | €83,672 | €116,985 | +€33,313 | +39.8% |
| Other amounts receivable | 41 | €19,631 | €123 | -€19,508 | -99.4% |
| Cash at bank and in hand | 54/58 | €487,584 | €34,593 | -€452,991 | -92.9% |
| Deferred charges and accrued income | 490/1 | €14,353 | €24,587 | +€10,234 | +71.3% |
| Total equity and liabilities | 10/49 | €910,358 | €1,628,653 | +€718,295 | +78.9% |
| Equity | 10/15 | €607,025 | €172,508 | -€434,517 | -71.6% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €522,025 | €87,508 | -€434,517 | -83.2% |
| Non-distributable reserves | 130/1 | €8,500 | €8,500 | = | 0.0% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €513,525 | €79,008 | -€434,517 | -84.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €303,333 | €1,456,145 | +€1.2m | +380% |
| Amounts payable after more than one year | 17 | €70,074 | €54,706 | -€15,368 | -21.9% |
| Financial debts | 170/4 | €70,074 | €54,706 | -€15,368 | -21.9% |
| Amounts payable within one year | 42/48 | €233,259 | €1,397,352 | +€1.2m | +499% |
| Current portion of amounts payable after more than one year | 42 | €14,930 | €15,368 | +€438 | +2.9% |
| Financial debts | 43 | - | €1,025,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,025,000 | +€1.0m | |
| Trade debts | 44 | €218,329 | €255,001 | +€36,672 | +16.8% |
| Suppliers | 440/4 | €218,329 | €255,001 | +€36,672 | +16.8% |
| Taxes, remuneration and social security | 45 | €0 | €465 | +€465 | |
| Taxes | 450/3 | €0 | €465 | +€465 | |
| Other amounts payable | 47/48 | - | €101,518 | +€101,518 | |
| Accrued charges and deferred income | 492/3 | €0 | €4,087 | +€4,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,020 | €25,625 | -€394 | -1.5% |
| Other operating charges | 640/8 | €2,993 | €4,229 | +€1,236 | +41.3% |
| Gross operating margin | 9900 | -€480,561 | -€372,503 | +€108,058 | +22.5% |
| Operating profit (loss) | 9901 | -€509,573 | -€402,357 | +€107,216 | +21.0% |
| Financial income | 75/76B | €15,754 | €10,465 | -€5,289 | -33.6% |
| Recurring financial income | 75 | €15,754 | €10,465 | -€5,289 | -33.6% |
| Financial charges | 65/66B | €5,158 | €42,160 | +€37,002 | +717% |
| Recurring financial charges | 65 | €5,158 | €42,160 | +€37,002 | +717% |
| Profit (loss) for the period before taxes | 9903 | -€498,978 | -€434,052 | +€64,925 | +13.0% |
| Income taxes | 67/77 | €0 | €465 | +€465 | |
| Profit (loss) for the period | 9904 | -€498,978 | -€434,517 | +€64,460 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€498,978 | -€434,517 | +€64,460 | +12.9% |
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 14 October 2026 via checked.be.