VDS GROUP
ActiveSummary
VDS GROUP has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31.2m and a net result of €1.8m. Equity is growing by ~6.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is < 0.1% (very low).
Financials · fiscal year 2025, full schema, statutory accounts
Turnover
€167,105▲ 189%
2018 · €57,895
EBIT margin
56.9%▲ 135.1pp
2018 · -78.2%
Net result
€1.8m▲ 3.7%
2024 · €1.7m
Working capital
€11.5m▲ 16.2%
2024 · €9.9m
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result stays negative: a loss of €49,296 in 2025 against €31,942 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Turnover€0.2m
2019
Operating result-€0.05m
2025
Net result€1.8m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€33.4m
2025
Equity€31.2m
2025
Debt€2.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€11.5m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin56.9%
2019
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.06m-€0.2m▲ 189%
Operating result-€0.05m-€0.1m-€0.05m-€0.03m▲ 44.5%-€0.03m▲ 4.5%-€0.03m▼ 8.7%-€0.03m▼ 12.1%-€0.05m▼ 54.3%
Net result€2.2m-€3.5m▲ 60.0%€0.3m▼ 90.1%€0.5m▲ 37.0%€1.6m▲ 240%€1.6m▲ 0.5%€1.7m▲ 7.2%€1.8m▲ 3.7%
EBIT margin-78.2%-56.9%▲ 135.1pp
Equity€20.2m-€23.7m▲ 17.2%€24.0m▲ 1.5%€24.5m▲ 2.0%€26.1m▲ 6.5%€27.7m▲ 6.2%€29.4m▲ 6.2%€31.2m▲ 6.1%
Total assets€22.7m-€27.6m▲ 21.5%€27.7m▲ 0.5%€27.8m▲ 0.4%€29.1m▲ 4.6%€30.3m▲ 4.1%€31.9m▲ 5.2%€33.4m▲ 4.9%
Debt€2.5m-€3.9m▲ 56.0%€3.7m▼ 5.4%€3.3m▼ 9.8%€3.0m▼ 10.0%€2.6m▼ 14.0%€2.4m▼ 6.2%€2.2m▼ 9.2%
Working capital€2.4m-€3.8m▲ 55.1%€3.9m▲ 2.2%€4.0m▲ 2.7%€7.2m▲ 81.3%€8.4m▲ 16.8%€9.9m▲ 18.6%€11.5m▲ 16.2%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33.4m
Fixed assets
€21.5m =
Current assets
€11.9m ▲ 15.0%
Equity and liabilities €33.4m
Equity
€31.2m ▲ 6.1%
Debt
€2.2m ▼ 9.2%
Debt's share of the balance-sheet total falls from 7.6% to 6.6%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
31.19▲
2024 · 24.13
Debt to equity
0.07▼
2024 · 0.08
ROE
5.7%▼
2024 · 5.9%
ROA
5.3%▼
2024 · 5.4%
Debt ≤ 1 year
€382,533▼
2024 · €429,775
Debt > 1 year
€1.6m▼
2024 · €1.9m
Income taxes
€31,539▲
2024 · €27,166
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.003m | - | - | - | - | - |
| Turnover70 | €0.06m | €0.2m | - | - | - | - | - | - | - |
| Other operating income74 | - | - | - | €0.003m | - | - | - | - | - |
| Operating charges60/66A | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 54.3% |
| Services and other goods61 | - | - | - | €0.03m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 44.8% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.004m | €0.006m | €0.009m | ▲ 52.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.003m | - |
| Operating profit (loss)9901 | -€0.05m | €0.1m | -€0.05m | -€0.03m | -€0.03m | -€0.03m | -€0.03m | -€0.05m | ▼ 54.3% |
| Financial income75/76B | - | - | - | €0.6m | €2.0m | €1.6m | €1.9m | €2.0m | ▲ 4.0% |
| Recurring financial income75 | €2.7m | €0.6m | €0.5m | €0.6m | €0.05m | €1.6m | €1.9m | €2.0m | ▲ 4.0% |
| Income from financial fixed assets750 | - | - | - | €0.5m | - | €1.4m | €1.6m | €1.7m | ▲ 5.2% |
| Income from current assets751 | - | - | - | €0.04m | €0.04m | €0.2m | €0.3m | €0.2m | ▼ 3.8% |
| Other financial income752/9 | - | - | - | €0.04m | €0.009m | €0.05m | €0.04m | €0.04m | ▲ 6.7% |
| Non-recurring financial income76B | - | - | - | - | €2.0m | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.08m | €0.4m | -€0.002m | €0.1m | €0.1m | ▼ 6.8% |
| Recurring financial charges65 | €0.4m | -€0.3m | €0.1m | €0.08m | €0.1m | -€0.002m | €0.1m | €0.1m | ▼ 6.8% |
| Debt charges650 | €0.03m | €0.05m | €0.07m | €0.07m | €0.08m | €0.01m | €0.1m | €0.1m | ▼ 15.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €0.002m | €0.03m | -€0.02m | -€0.004m | -€0.001m | ▲ 64.5% |
| Other financial charges652/9 | - | - | - | €0.01m | €280 | €0.009m | €0.001m | €0.009m | ▲ 789% |
| Non-recurring financial charges66B | - | - | - | - | €0.3m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €2.2m | €3.5m | €0.3m | €0.5m | €1.6m | €1.6m | €1.8m | €1.8m | ▲ 3.9% |
| Income taxes67/77 | €0.01m | €0.02m | €0.001m | -€196 | - | - | €0.03m | €0.03m | ▲ 16.1% |
| Taxes670/3 | - | - | - | - | - | - | €0.03m | €0.03m | ▲ 16.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €196 | - | - | - | - | - |
| Profit (loss) for the period9904 | €2.2m | €3.5m | €0.3m | €0.5m | €1.6m | €1.6m | €1.7m | €1.8m | ▲ 3.7% |
| Profit (loss) for the period to be appropriated9905 | €2.2m | €3.5m | €0.3m | €0.5m | €1.6m | €1.6m | €1.7m | €1.8m | ▲ 3.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €22.7m | €27.6m | €27.7m | €27.8m | €29.1m | €30.3m | €31.9m | €33.4m | ▲ 4.9% |
| Fixed assets21/28 | €18.0m | €23.4m | €23.5m | €23.5m | €21.5m | €21.5m | €21.5m | €21.5m | = |
| Financial fixed assets28 | €18.0m | €23.4m | €23.5m | €23.5m | €21.5m | €21.5m | €21.5m | €21.5m | = |
| Affiliated companies280/1 | - | - | - | €23.5m | €21.3m | €21.3m | €21.3m | €21.3m | = |
| Participating interests280 | - | - | - | €23.5m | €21.3m | €21.3m | €21.3m | €21.3m | = |
| Companies linked by participating interests282/3 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Participating interests282 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Current assets29/58 | €4.7m | €4.2m | €4.2m | €4.4m | €7.6m | €8.8m | €10.4m | €11.9m | ▲ 15.0% |
| Amounts receivable after more than one year29 | - | - | - | - | €1.2m | €2.5m | €3.3m | €5.7m | ▲ 75.8% |
| Other amounts receivable291 | - | - | - | - | €1.2m | €2.5m | €3.3m | €5.7m | ▲ 75.8% |
| Amounts receivable within one year40/41 | €0.7m | €2.1m | €0.06m | €0.07m | €0.007m | €2.5m | €0.07m | €1.1m | ▲ 1,464% |
| Trade receivables40 | - | - | - | €0.06m | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.02m | €0.007m | €2.5m | €0.07m | €1.1m | ▲ 1,464% |
| Current investments50/53 | €3.7m | €1.2m | €1.1m | €1.2m | €3.1m | €2.9m | €5.7m | €3.5m | ▼ 38.7% |
| Other investments51/53 | - | - | - | €1.2m | €3.1m | €2.9m | €5.7m | €3.5m | ▼ 38.7% |
| Cash at bank and in hand54/58 | €0.2m | €0.8m | €3.0m | €3.1m | €3.2m | €0.8m | €1.1m | €1.3m | ▲ 15.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.02m | €0.1m | €0.2m | €0.3m | ▲ 37.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €22.7m | €27.6m | €27.7m | €27.8m | €29.1m | €30.3m | €31.9m | €33.4m | ▲ 4.9% |
| Equity10/15 | €20.2m | €23.7m | €24.0m | €24.5m | €26.1m | €27.7m | €29.4m | €31.2m | ▲ 6.1% |
| Contributions10/11 | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | = |
| Capital10 | - | - | - | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | = |
| Issued capital100 | - | - | - | €6.2m | €6.2m | €6.2m | €6.2m | €6.2m | = |
| Reserves13 | €14.0m | €17.5m | €17.9m | €18.3m | €19.9m | €21.5m | €23.3m | €25.0m | ▲ 7.7% |
| Non-distributable reserves130/1 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Legal reserve130 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Distributable reserves133 | - | - | - | €17.7m | €19.3m | €20.9m | €22.6m | €24.4m | ▲ 7.9% |
| Amounts payable17/49 | €2.5m | €3.9m | €3.7m | €3.3m | €3.0m | €2.6m | €2.4m | €2.2m | ▼ 9.2% |
| Amounts payable after more than one year17 | - | €3.5m | €3.3m | €2.9m | €2.5m | €2.1m | €1.9m | €1.6m | ▼ 15.0% |
| Financial debts170/4 | - | - | - | €1.4m | €1.1m | €0.8m | €0.6m | €0.3m | ▼ 49.8% |
| Credit institutions173 | - | - | - | €1.4m | €1.1m | €0.8m | €0.6m | €0.3m | ▼ 49.8% |
| Other amounts payable178/9 | - | - | - | €1.6m | €1.4m | €1.3m | €1.3m | €1.3m | = |
| Amounts payable within one year42/48 | €2.2m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 11.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 1.0% |
| Trade debts44 | €0.05m | €0.006m | €0.01m | €422 | €416 | €0.001m | €197 | €110 | ▼ 44.4% |
| Suppliers440/4 | - | - | - | €422 | €416 | €0.001m | €197 | €110 | ▼ 44.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | - | - | - | - |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.08m | ▼ 38.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.02m | €0.1m | €0.2m | ▲ 78.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.2m | €3.5m | €0.3m | €0.5m | €1.6m | €1.6m | €1.7m | €1.8m | ▲ 3.7% |
| Operating cash flow (approximation) | €2.2m | €3.5m | €0.3m | €0.5m | €1.6m | €1.6m | €1.7m | €1.8m | ▲ 3.7% |
| Investment in fixed assets (approximation) | - | -€5.4m | -€0.06m | €0 | €2.0m | €0 | €0 | -€0.004m | - |
| Change in cash | - | €0.5m | €2.3m | €0.03m | €0.1m | -€2.4m | €0.3m | €0.2m | ▼ 48.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.