A VDV PROJECTS: 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.
A VDV PROJECTS
Largest movements
- Receivables within one year -€7,968
down €7,968 (-24.1%), from €33,013 to €25,045
of which Other amounts receivable: -€10,172
- Tangible fixed assets -€2,500
down €2,500 (-50.0%), from €5,000 to €2,500
- Cash -€1,716
down €1,716 (-59.9%), from €2,863 to €1,147
mainly Contributions, distributions and other (-€20,160) and Tax, wage and social debts (-€2,022)
- Profit (loss) carried forward -€9,880
down €9,880 (-34.0%), from €29,061 to €19,180
- Tax, wage and social debts -€2,022
down €2,022 (-25.2%), from €8,038 to €6,016
- Turnover -€65,626
no longer reported in 2025 (was €65,626)
- Purchases and services -€26,990
no longer reported in 2025 (was €26,990)
- Gross operating margin -€21,414
down €21,414 (-55.4%), from €38,636 to €17,222
- Taxes -€5,021
down €5,021 (-62.5%), from €8,038 to €3,018
- Depreciation +€2,500
new in 2025: €2,500
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
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 | €40,876 | €28,692 | -€12,184 | -29.8% |
| Fixed assets | 21/28 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Tangible fixed assets | 22/27 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Furniture and vehicles | 24 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Current assets | 29/58 | €35,876 | €26,192 | -€9,684 | -27.0% |
| Amounts receivable within one year | 40/41 | €33,013 | €25,045 | -€7,968 | -24.1% |
| Trade receivables | 40 | €9,271 | €11,476 | +€2,205 | +23.8% |
| Other amounts receivable | 41 | €23,742 | €13,569 | -€10,172 | -42.8% |
| Cash at bank and in hand | 54/58 | €2,863 | €1,147 | -€1,716 | -59.9% |
| Total equity and liabilities | 10/49 | €40,876 | €28,692 | -€12,184 | -29.8% |
| Equity | 10/15 | €29,062 | €19,181 | -€9,880 | -34.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,061 | €19,180 | -€9,880 | -34.0% |
| Amounts payable | 17/49 | €11,814 | €9,511 | -€2,303 | -19.5% |
| Amounts payable within one year | 42/48 | €11,814 | €9,511 | -€2,303 | -19.5% |
| Trade debts | 44 | €3,776 | €3,495 | -€281 | -7.4% |
| Suppliers | 440/4 | €3,776 | €3,495 | -€281 | -7.4% |
| Taxes, remuneration and social security | 45 | €8,038 | €6,016 | -€2,022 | -25.2% |
| Taxes | 450/3 | €8,038 | €6,016 | -€2,022 | -25.2% |
| Turnover | 70 | €65,626 | - | -€65,626 | |
| Goods, raw materials, services and sundry goods | 60/61 | €26,990 | - | -€26,990 | |
| Remuneration, social security and pensions | 62 | €126 | - | -€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,500 | +€2,500 | |
| Other operating charges | 640/8 | €1,416 | €122 | -€1,295 | -91.4% |
| Gross operating margin | 9900 | €38,636 | €17,222 | -€21,414 | -55.4% |
| Operating profit (loss) | 9901 | €37,093 | €14,600 | -€22,493 | -60.6% |
| Financial income | 75/76B | €15 | €0 | -€14 | -99.9% |
| Recurring financial income | 75 | €15 | €0 | -€14 | -99.9% |
| Financial charges | 65/66B | €8 | €1,303 | +€1,294 | +15689.9% |
| Recurring financial charges | 65 | €8 | €1,303 | +€1,294 | +15689.9% |
| Profit (loss) for the period before taxes | 9903 | €37,099 | €13,297 | -€23,802 | -64.2% |
| Income taxes | 67/77 | €8,038 | €3,018 | -€5,021 | -62.5% |
| Profit (loss) for the period | 9904 | €29,061 | €10,280 | -€18,781 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,061 | €10,280 | -€18,781 | -64.6% |
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 7 October 2026 via checked.be.