GROUP V.D.S.: 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
GROUP V.D.S.
NACE 46.180, Agents specialised in the wholesale of other particular products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€199,618
2024 · €228,993-€428,611
Equity
€3.5m
2024 · €3.7m-€199,618
Cash
€411
2024 · €0+€411
Balance sheet total
€4.6m
2024 · €4.8m-€161,843
Largest movements
Assets
- Receivables within one year -€287,420
down €287,420 (-76.6%), from €375,454 to €88,034
of which Other amounts receivable: -€194,420
- Tangible fixed assets +€123,231
up €123,231 (+7.7%), from €1.6m to €1.7m
Equity and liabilities
- Debts after one year -€330,689
down €330,689 (-100%), from €330,689 to €0
- Other debts +€323,824
new in 2025: €323,824
- Trade debts +€318,156
up €318,156 (+97.3%), from €327,008 to €645,164
- Provisions -€174,228
down €174,228 (-58.3%), from €299,085 to €124,857
of which Provisions for liabilities and charges: -€160,000
- Profit (loss) carried forward -€156,934
down €156,934 (-6.1%), from €2.6m to €2.4m
Income statement
- Turnover -€620,000
down €620,000 (-74.1%), from €837,000 to €217,000
- Provisions -€240,000
down €240,000, from €80,000 to -€160,000
- Services and other goods +€114,742
up €114,742 (+42.1%), from €272,366 to €387,108
- Taxes -€79,242
down €79,242 (-100%), from €79,242 to €0
of which Taxes: -€87,730
- Depreciation +€18,897
up €18,897 (+11.0%), from €171,207 to €190,104
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
€228,993
Turnover
-€620,000
Services and other goods
-€114,742
Depreciation
-€18,897
Provisions
+€240,000
Other operating charges
+€117
Financial income
+€2,674
Financial charges
+€2,995
Taxes
+€79,242
Result 2025
-€199,618
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
+€743,658
Investment
-€313,335
Financing
-€429,913
Cash 2024
€0
From operations (derived)
+€743,658
Net result for the year
-€199,618
Depreciation
+€190,104
Receivables within one year
+€287,420
Deferred charges and accrued income
-€1,935
Provisions
-€174,228
Trade debts
+€318,156
Other debts
+€323,824
Accrued charges and deferred income
-€65
Investment (derived)
-€313,335
Investment in fixed assets (net)
-€313,335
Financing
-€429,913
Debts after one year
-€330,689
Current portion of long-term debt
-€99,224
Cash 2025
€411
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,753,302 | €4,591,458 | -€161,843 | -3.4% |
| Fixed assets | 21/28 | €4,365,990 | €4,489,220 | +€123,231 | +2.8% |
| Tangible fixed assets | 22/27 | €1,600,319 | €1,723,550 | +€123,231 | +7.7% |
| Plant, machinery and equipment | 23 | €1,600,319 | €1,723,550 | +€123,231 | +7.7% |
| Financial fixed assets | 28 | €2,765,670 | €2,765,670 | = | 0.0% |
| Affiliated companies | 280/1 | €2,765,670 | €2,765,670 | = | 0.0% |
| Participating interests | 280 | €2,765,670 | €2,765,670 | = | 0.0% |
| Current assets | 29/58 | €387,312 | €102,238 | -€285,074 | -73.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €375,454 | €88,034 | -€287,420 | -76.6% |
| Trade receivables | 40 | €93,000 | €0 | -€93,000 | -100% |
| Other amounts receivable | 41 | €282,454 | €88,034 | -€194,420 | -68.8% |
| Cash at bank and in hand | 54/58 | €0 | €411 | +€411 | |
| Deferred charges and accrued income | 490/1 | €11,858 | €13,793 | +€1,935 | +16.3% |
| Total equity and liabilities | 10/49 | €4,753,302 | €4,591,458 | -€161,843 | -3.4% |
| Equity | 10/15 | €3,694,226 | €3,494,608 | -€199,618 | -5.4% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €932,624 | €889,939 | -€42,685 | -4.6% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €417,255 | €374,571 | -€42,685 | -10.2% |
| Distributable reserves | 133 | €495,537 | €495,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,563,288 | €2,406,354 | -€156,934 | -6.1% |
| Provisions and deferred taxes | 16 | €299,085 | €124,857 | -€174,228 | -58.3% |
| Provisions for liabilities and charges | 160/5 | €160,000 | €0 | -€160,000 | -100% |
| Major repairs and maintenance | 162 | €160,000 | €0 | -€160,000 | -100% |
| Deferred taxes | 168 | €139,085 | €124,857 | -€14,228 | -10.2% |
| Amounts payable | 17/49 | €759,990 | €971,993 | +€212,003 | +27.9% |
| Amounts payable after more than one year | 17 | €330,689 | €0 | -€330,689 | -100% |
| Financial debts | 170/4 | €330,689 | €0 | -€330,689 | -100% |
| Credit institutions | 173 | €330,689 | €0 | -€330,689 | -100% |
| Amounts payable within one year | 42/48 | €426,232 | €968,988 | +€542,757 | +127% |
| Current portion of amounts payable after more than one year | 42 | €99,224 | €0 | -€99,224 | -100% |
| Trade debts | 44 | €327,008 | €645,164 | +€318,156 | +97.3% |
| Suppliers | 440/4 | €327,008 | €645,164 | +€318,156 | +97.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €323,824 | +€323,824 | |
| Accrued charges and deferred income | 492/3 | €3,070 | €3,005 | -€65 | -2.1% |
| Operating income | 70/76A | €837,000 | €217,000 | -€620,000 | -74.1% |
| Turnover | 70 | €837,000 | €217,000 | -€620,000 | -74.1% |
| Operating charges | 60/66A | €524,808 | €418,330 | -€106,478 | -20.3% |
| Services and other goods | 61 | €272,366 | €387,108 | +€114,742 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,207 | €190,104 | +€18,897 | +11.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €80,000 | -€160,000 | -€240,000 | |
| Other operating charges | 640/8 | €1,236 | €1,118 | -€117 | -9.5% |
| Operating profit (loss) | 9901 | €312,192 | -€201,330 | -€513,522 | |
| Financial income | 75/76B | €678 | €3,351 | +€2,674 | +395% |
| Recurring financial income | 75 | €678 | €3,351 | +€2,674 | +395% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €678 | €2,461 | +€1,783 | +263% |
| Other financial income | 752/9 | €0 | €891 | +€891 | +8,907,500% |
| Financial charges | 65/66B | €18,863 | €15,868 | -€2,995 | -15.9% |
| Recurring financial charges | 65 | €18,863 | €15,868 | -€2,995 | -15.9% |
| Debt charges | 650 | €18,117 | €14,436 | -€3,682 | -20.3% |
| Other financial charges | 652/9 | €746 | €1,432 | +€687 | +92.1% |
| Profit (loss) for the period before taxes | 9903 | €294,007 | -€213,846 | -€507,853 | |
| Transfer from deferred taxes | 780 | €14,228 | €14,228 | = | 0.0% |
| Income taxes | 67/77 | €79,242 | €0 | -€79,242 | -100% |
| Taxes | 670/3 | €87,730 | €0 | -€87,730 | -100% |
| Tax adjustments and reversals of tax provisions | 77 | €8,488 | €0 | -€8,488 | -100% |
| Profit (loss) for the period | 9904 | €228,993 | -€199,618 | -€428,611 | |
| Transfer from tax-exempt reserves | 789 | €42,685 | €42,685 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €271,678 | -€156,934 | -€428,611 |
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 25 October 2026 via checked.be.