GROUP VDRT: 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 VDRT
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€986,416
2024 · €291,012+€695,403
Equity
€7.4m
2024 · €7.1m+€236,416
Cash
€36,062
2024 · €104,056-€67,994
Balance sheet total
€16.1m
2024 · €12.6m+€3.5m
Largest movements
Assets
- Current investments +€1.3m
new in 2025: €1.3m
- Financial fixed assets +€1.1m
up €1.1m (+67.4%), from €1.6m to €2.7m
of which Affiliated companies: +€1.2m
- Tangible fixed assets +€734,069
up €734,069 (+8.2%), from €8.9m to €9.6m
of which Land and buildings: +€1.2m
- Receivables within one year +€382,050
up €382,050 (+19.5%), from €2.0m to €2.3m
of which Other amounts receivable: +€535,549
Equity and liabilities
- Reserves +€2.5m
up €2.5m (+310%), from €794,305 to €3.3m
of which Non-distributable reserves: +€1.3m
- Profit (loss) carried forward -€2.1m
down €2.1m, from €2.0m to -€144,034
- Debts after one year +€1.8m
up €1.8m (+70.0%), from €2.6m to €4.4m
of which Financial debts: +€1.8m
- Short-term financial debts +€1.4m
new in 2025: €1.4m
- Provisions -€356,338
down €356,338 (-17.9%), from €2.0m to €1.6m
of which Provisions for liabilities and charges: -€708,566
Income statement
- Other operating income +€1.5m
up €1.5m (+160%), from €948,087 to €2.5m
- Financial charges +€727,078
up €727,078 (+255%), from €284,771 to €1.0m
of which Financial charges: +€627,078
- Provisions -€637,087
down €637,087 (-891%), from -€71,480 to -€708,566
- Other operating charges +€535,905
up €535,905 (+612%), from €87,565 to €623,470
- Taxes -€126,365
down €126,365 (-82.9%), from €152,472 to €26,107
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
€291,012
Turnover
+€6,970
Other operating income
+€1.5m
Goods and materials
-€2,114
Services and other goods
-€35,271
Depreciation
+€32,529
Provisions
+€637,087
Other operating charges
-€535,905
Financial income
+€28,692
Financial charges
-€727,078
Taxes
+€126,365
Deferred taxes and other
-€356,805
Result 2025
€986,416
raises the resultlowers the resultnot broken down further in the accounts
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
+€598,108
Investment
-€3.5m
Financing
+€2.8m
Cash 2024
€104,056
From operations (derived)
+€598,108
Net result for the year
+€986,416
Depreciation
+€319,393
Receivables within one year
-€382,050
Deferred charges and accrued income
-€2,694
Provisions
-€356,338
Trade debts
+€13,373
Tax, wage and social debts
+€17,847
Advances received
+€17,000
Other debts
-€24,528
Accrued charges and deferred income
+€9,688
Investment (derived)
-€3.5m
Investment in fixed assets (net)
-€2.2m
Current investments
-€1.3m
Financing
+€2.8m
Debts after one year
+€1.8m
Current portion of long-term debt
+€322,982
Short-term financial debts
+€1.4m
Contributions, distributions and other
-€750,000
Cash 2025
€36,062
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,611,484 | €16,062,153 | +€3.5m | +27.4% |
| Fixed assets | 21/28 | €10,531,103 | €12,365,421 | +€1.8m | +17.4% |
| Tangible fixed assets | 22/27 | €8,897,886 | €9,631,954 | +€734,069 | +8.2% |
| Land and buildings | 22 | €8,223,555 | €9,450,355 | +€1.2m | +14.9% |
| Plant, machinery and equipment | 23 | €23,234 | €17,859 | -€5,375 | -23.1% |
| Furniture and vehicles | 24 | €4,112 | €1,570 | -€2,542 | -61.8% |
| Leasing and similar rights | 25 | €646,985 | - | -€646,985 | |
| Other tangible fixed assets | 26 | - | €17,155 | +€17,155 | |
| Assets under construction and advance payments | 27 | - | €145,015 | +€145,015 | |
| Financial fixed assets | 28 | €1,633,217 | €2,733,467 | +€1.1m | +67.4% |
| Affiliated companies | 280/1 | €1,427,373 | €2,627,373 | +€1.2m | +84.1% |
| Participating interests | 280 | €1,427,373 | €2,627,373 | +€1.2m | +84.1% |
| Other financial fixed assets | 284/8 | €205,844 | €106,094 | -€99,750 | -48.5% |
| Shares | 284 | €100,000 | - | -€100,000 | |
| Amounts receivable and cash guarantees | 285/8 | €105,844 | €106,094 | +€250 | +0.2% |
| Current assets | 29/58 | €2,080,381 | €3,696,732 | +€1.6m | +77.7% |
| Amounts receivable within one year | 40/41 | €1,963,556 | €2,345,606 | +€382,050 | +19.5% |
| Trade receivables | 40 | €496,290 | €342,791 | -€153,499 | -30.9% |
| Other amounts receivable | 41 | €1,467,266 | €2,002,815 | +€535,549 | +36.5% |
| Current investments | 50/53 | - | €1,299,600 | +€1.3m | |
| Own shares | 50 | - | €1,299,600 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €104,056 | €36,062 | -€67,994 | -65.3% |
| Deferred charges and accrued income | 490/1 | €12,769 | €15,463 | +€2,694 | +21.1% |
| Total equity and liabilities | 10/49 | €12,611,484 | €16,062,153 | +€3.5m | +27.4% |
| Equity | 10/15 | €7,146,721 | €7,383,137 | +€236,416 | +3.3% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Capital | 10 | €280,000 | €280,000 | = | 0.0% |
| Issued capital | 100 | €280,000 | €280,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,093,960 | €3,990,940 | -€103,020 | -2.5% |
| Reserves | 13 | €794,305 | €3,256,231 | +€2.5m | +310% |
| Non-distributable reserves | 130/1 | €48,801 | €1,348,401 | +€1.3m | +2,663% |
| Legal reserve | 130 | €48,801 | €48,801 | = | 0.0% |
| Own shares acquired | 1312 | - | €1,299,600 | +€1.3m | |
| Tax-exempt reserves | 132 | €455,065 | €1,514,371 | +€1.1m | +233% |
| Distributable reserves | 133 | €290,439 | €393,459 | +€103,020 | +35.5% |
| Profit (loss) carried forward | 14 | €1,978,456 | -€144,034 | -€2.1m | |
| Provisions and deferred taxes | 16 | €1,995,445 | €1,639,107 | -€356,338 | -17.9% |
| Provisions for liabilities and charges | 160/5 | €1,922,533 | €1,213,967 | -€708,566 | -36.9% |
| Other liabilities and charges | 164/5 | €1,922,533 | €1,213,967 | -€708,566 | -36.9% |
| Deferred taxes | 168 | €72,912 | €425,140 | +€352,229 | +483% |
| Amounts payable | 17/49 | €3,469,318 | €7,039,909 | +€3.6m | +103% |
| Amounts payable after more than one year | 17 | €2,586,317 | €4,397,419 | +€1.8m | +70.0% |
| Financial debts | 170/4 | €2,584,517 | €4,395,619 | +€1.8m | +70.1% |
| Leasing and similar obligations | 172 | - | €69,384 | +€69,384 | |
| Credit institutions | 173 | €2,193,884 | €4,291,813 | +€2.1m | +95.6% |
| Other loans | 174 | €390,633 | €34,422 | -€356,212 | -91.2% |
| Other amounts payable | 178/9 | €1,800 | €1,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €839,176 | €2,588,976 | +€1.7m | +209% |
| Current portion of amounts payable after more than one year | 42 | €366,059 | €689,040 | +€322,982 | +88.2% |
| Financial debts | 43 | - | €1,403,126 | +€1.4m | |
| Credit institutions | 430/8 | - | €1,403,126 | +€1.4m | |
| Trade debts | 44 | €272,036 | €285,410 | +€13,373 | +4.9% |
| Suppliers | 440/4 | €272,036 | €285,410 | +€13,373 | +4.9% |
| Advances received on contracts in progress | 46 | - | €17,000 | +€17,000 | |
| Taxes, remuneration and social security | 45 | €172,132 | €189,979 | +€17,847 | +10.4% |
| Taxes | 450/3 | €172,132 | €184,257 | +€12,125 | +7.0% |
| Remuneration and social security | 454/9 | - | €5,722 | +€5,722 | |
| Other amounts payable | 47/48 | €28,950 | €4,422 | -€24,528 | -84.7% |
| Accrued charges and deferred income | 492/3 | €43,825 | €53,513 | +€9,688 | +22.1% |
| Operating income | 70/76A | €1,486,987 | €3,014,890 | +€1.5m | +103% |
| Turnover | 70 | €538,899 | €545,870 | +€6,970 | +1.3% |
| Other operating income | 74 | €948,087 | €2,469,021 | +€1.5m | +160% |
| Operating charges | 60/66A | €799,216 | €702,890 | -€96,326 | -12.1% |
| Goods for resale, raw materials and consumables | 60 | - | €2,114 | +€2,114 | |
| Purchases | 600/8 | - | €2,114 | +€2,114 | |
| Services and other goods | 61 | €431,209 | €466,479 | +€35,271 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351,922 | €319,393 | -€32,529 | -9.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€71,480 | -€708,566 | -€637,087 | -891% |
| Other operating charges | 640/8 | €87,565 | €623,470 | +€535,905 | +612% |
| Operating profit (loss) | 9901 | €687,770 | €2,312,000 | +€1.6m | +236% |
| Financial income | 75/76B | €35,908 | €64,600 | +€28,692 | +79.9% |
| Recurring financial income | 75 | €35,908 | €64,600 | +€28,692 | +79.9% |
| Income from financial fixed assets | 750 | €3 | €125 | +€122 | +3,492% |
| Income from current assets | 751 | €33,366 | €63,919 | +€30,554 | +91.6% |
| Other financial income | 752/9 | €2,539 | €556 | -€1,983 | -78.1% |
| Financial charges | 65/66B | €284,771 | €1,011,848 | +€727,078 | +255% |
| Recurring financial charges | 65 | €284,771 | €911,848 | +€627,078 | +220% |
| Debt charges | 650 | €71,802 | €115,140 | +€43,338 | +60.4% |
| Other financial charges | 652/9 | €212,969 | €796,708 | +€583,739 | +274% |
| Non-recurring financial charges | 66B | - | €100,000 | +€100,000 | |
| Profit (loss) for the period before taxes | 9903 | €438,908 | €1,364,752 | +€925,844 | +211% |
| Transfer from deferred taxes | 780 | €4,576 | €8,870 | +€4,293 | +93.8% |
| Transfer to deferred taxes | 680 | - | €361,099 | +€361,099 | |
| Income taxes | 67/77 | €152,472 | €26,107 | -€126,365 | -82.9% |
| Taxes | 670/3 | €152,472 | €26,107 | -€126,365 | -82.9% |
| Profit (loss) for the period | 9904 | €291,012 | €986,416 | +€695,403 | +239% |
| Transfer from tax-exempt reserves | 789 | €11,109 | €23,990 | +€12,880 | +116% |
| Transfer to tax-exempt reserves | 689 | - | €1,083,296 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €302,122 | -€72,891 | -€375,012 |
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 22 October 2026 via checked.be.