Groep VDS: 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.
Groep VDS
Largest movements
- Tangible fixed assets +€89,781
up €89,781 (+35.7%), from €251,306 to €341,088
of which Furniture and vehicles: +€93,781
- Cash -€15,286
down €15,286 (-70.4%), from €21,709 to €6,423
mainly Investment in fixed assets (net) (-€108,620) and Other debts (-€81,962)
- Receivables within one year -€9,028
down €9,028 (-44.5%), from €20,282 to €11,254
of which Other amounts receivable: -€9,339
- Reserves +€171,486
up €171,486 (+68.5%), from €250,402 to €421,888
- Other debts -€81,962
down €81,962 (-48.1%), from €170,243 to €88,281
- Debts after one year -€42,849
down €42,849 (-14.0%), from €305,990 to €263,141
- Current portion of long-term debt +€15,009
up €15,009 (+18.9%), from €79,269 to €94,278
- Gross operating margin +€21,528
up €21,528 (+51.2%), from €42,068 to €63,596
- Depreciation -€21,267
down €21,267 (-53.0%), from €40,106 to €18,839
- Financial charges +€8,313
up €8,313 (+130%), from €6,395 to €14,708
- Taxes +€7,077
up €7,077, from -€204 to €6,873
- Financial income +€4,922
up €4,922 (+3.4%), from €145,078 to €150,000
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 | €826,278 | €893,952 | +€67,674 | +8.2% |
| Fixed assets | 21/28 | €782,306 | €872,088 | +€89,781 | +11.5% |
| Tangible fixed assets | 22/27 | €251,306 | €341,088 | +€89,781 | +35.7% |
| Land and buildings | 22 | €239,156 | €235,156 | -€4,000 | -1.7% |
| Furniture and vehicles | 24 | €12,150 | €105,931 | +€93,781 | +772% |
| Financial fixed assets | 28 | €531,000 | €531,000 | = | 0.0% |
| Current assets | 29/58 | €43,972 | €21,865 | -€22,107 | -50.3% |
| Amounts receivable within one year | 40/41 | €20,282 | €11,254 | -€9,028 | -44.5% |
| Trade receivables | 40 | €8,071 | €8,382 | +€311 | +3.9% |
| Other amounts receivable | 41 | €12,211 | €2,872 | -€9,339 | -76.5% |
| Cash at bank and in hand | 54/58 | €21,709 | €6,423 | -€15,286 | -70.4% |
| Deferred charges and accrued income | 490/1 | €1,981 | €4,188 | +€2,206 | +111% |
| Total equity and liabilities | 10/49 | €826,278 | €893,952 | +€67,674 | +8.2% |
| Equity | 10/15 | €251,402 | €422,888 | +€171,486 | +68.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €250,402 | €421,888 | +€171,486 | +68.5% |
| Distributable reserves | 133 | €250,402 | €421,888 | +€171,486 | +68.5% |
| Amounts payable | 17/49 | €574,876 | €471,064 | -€103,812 | -18.1% |
| Amounts payable after more than one year | 17 | €305,990 | €263,141 | -€42,849 | -14.0% |
| Financial debts | 170/4 | €305,990 | €263,141 | -€42,849 | -14.0% |
| Amounts payable within one year | 42/48 | €262,680 | €202,989 | -€59,692 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €79,269 | €94,278 | +€15,009 | +18.9% |
| Trade debts | 44 | €6,479 | €14,283 | +€7,804 | +120% |
| Suppliers | 440/4 | €6,479 | €14,283 | +€7,804 | +120% |
| Taxes, remuneration and social security | 45 | €6,690 | €6,146 | -€543 | -8.1% |
| Taxes | 450/3 | €5,065 | €6,146 | +€1,082 | +21.4% |
| Remuneration and social security | 454/9 | €1,625 | €0 | -€1,625 | -100% |
| Other amounts payable | 47/48 | €170,243 | €88,281 | -€81,962 | -48.1% |
| Accrued charges and deferred income | 492/3 | €6,206 | €4,935 | -€1,272 | -20.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,106 | €18,839 | -€21,267 | -53.0% |
| Other operating charges | 640/8 | €916 | €1,690 | +€774 | +84.6% |
| Gross operating margin | 9900 | €42,068 | €63,596 | +€21,528 | +51.2% |
| Operating profit (loss) | 9901 | €1,046 | €43,068 | +€42,021 | +4,017% |
| Financial income | 75/76B | €145,078 | €150,000 | +€4,922 | +3.4% |
| Recurring financial income | 75 | €145,078 | €150,000 | +€4,922 | +3.4% |
| Financial charges | 65/66B | €6,395 | €14,708 | +€8,313 | +130% |
| Recurring financial charges | 65 | €6,395 | €14,708 | +€8,313 | +130% |
| Profit (loss) for the period before taxes | 9903 | €139,729 | €178,359 | +€38,630 | +27.6% |
| Income taxes | 67/77 | -€204 | €6,873 | +€7,077 | |
| Profit (loss) for the period | 9904 | €139,933 | €171,486 | +€31,553 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €139,933 | €171,486 | +€31,553 | +22.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.