GROUP VDD: 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.
GROUP VDD
Largest movements
- Cash +€316,899
up €316,899 (+119%), from €265,485 to €582,384
mainly Net result for the year (+€639,642) and Tax, wage and social debts (+€59,718)
- Reserves +€500,631
up €500,631 (+24.5%), from €2.0m to €2.5m
- Debts after one year -€146,801
no longer reported in 2025 (was €146,801)
- Other debts -€98,821
down €98,821 (-42.3%), from €233,467 to €134,646
- Tax, wage and social debts +€59,718
up €59,718 (+156%), from €38,398 to €98,116
- Financial income +€442,807
up €442,807 (+172%), from €257,635 to €700,442
- Taxes +€38,792
up €38,792 (+146%), from €26,485 to €65,277
- Gross operating margin -€4,190
down €4,190 (-35.0%), from €11,977 to €7,787
- Financial charges -€1,326
down €1,326 (-37.8%), from €3,510 to €2,184
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 | €2,878,365 | €3,195,264 | +€316,899 | +11.0% |
| Fixed assets | 21/28 | €2,604,410 | €2,604,410 | = | 0.0% |
| Financial fixed assets | 28 | €2,604,410 | €2,604,410 | = | 0.0% |
| Current assets | 29/58 | €273,955 | €590,854 | +€316,899 | +116% |
| Amounts receivable within one year | 40/41 | €8,470 | €8,470 | = | 0.0% |
| Trade receivables | 40 | €8,470 | €8,470 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €265,485 | €582,384 | +€316,899 | +119% |
| Total equity and liabilities | 10/49 | €2,878,365 | €3,195,264 | +€316,899 | +11.0% |
| Equity | 10/15 | €2,113,278 | €2,613,909 | +€500,631 | +23.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €2,039,252 | €2,539,883 | +€500,631 | +24.5% |
| Distributable reserves | 133 | €2,039,252 | €2,539,883 | +€500,631 | +24.5% |
| Profit (loss) carried forward | 14 | €24,026 | €24,026 | = | 0.0% |
| Amounts payable | 17/49 | €765,087 | €581,355 | -€183,732 | -24.0% |
| Amounts payable after more than one year | 17 | €146,801 | - | -€146,801 | |
| Financial debts | 170/4 | €146,801 | - | -€146,801 | |
| Amounts payable within one year | 42/48 | €618,286 | €581,355 | -€36,931 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €145,468 | €146,801 | +€1,333 | +0.9% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Other loans | 439 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €953 | €1,792 | +€839 | +88.0% |
| Suppliers | 440/4 | €953 | €1,792 | +€839 | +88.0% |
| Taxes, remuneration and social security | 45 | €38,398 | €98,116 | +€59,718 | +156% |
| Taxes | 450/3 | €38,398 | €98,116 | +€59,718 | +156% |
| Other amounts payable | 47/48 | €233,467 | €134,646 | -€98,821 | -42.3% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€32 | +2.9% |
| Gross operating margin | 9900 | €11,977 | €7,787 | -€4,190 | -35.0% |
| Operating profit (loss) | 9901 | €10,883 | €6,661 | -€4,222 | -38.8% |
| Financial income | 75/76B | €257,635 | €700,442 | +€442,807 | +172% |
| Recurring financial income | 75 | €257,635 | €700,442 | +€442,807 | +172% |
| Financial charges | 65/66B | €3,510 | €2,184 | -€1,326 | -37.8% |
| Recurring financial charges | 65 | €3,510 | €2,184 | -€1,326 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €265,008 | €704,919 | +€439,911 | +166% |
| Income taxes | 67/77 | €26,485 | €65,277 | +€38,792 | +146% |
| Profit (loss) for the period | 9904 | €238,523 | €639,642 | +€401,119 | +168% |
| Profit (loss) for the period to be appropriated | 9905 | €238,523 | €639,642 | +€401,119 | +168% |
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 27 October 2026 via checked.be.