Nicolas VDM: 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.
Nicolas VDM
Largest movements
- Receivables within one year +€16,305
up €16,305 (+1,353%), from €1,205 to €17,510
of which Trade receivables: +€17,510
- Cash -€6,151
down €6,151 (-20.8%), from €29,597 to €23,446
mainly Receivables within one year (-€16,305) and Net result for the year (-€2,642)
- Tangible fixed assets -€579
down €579 (-59.9%), from €967 to €388
- Tax, wage and social debts +€5,449
up €5,449 (+122%), from €4,454 to €9,903
of which Taxes: +€7,526
- Other debts +€4,138
up €4,138 (+37.0%), from €11,172 to €15,310
- Profit (loss) carried forward -€2,642
down €2,642 (-48.2%), from €5,484 to €2,842
- Trade debts +€2,123
up €2,123 (+337%), from €631 to €2,753
- Gross operating margin -€4,081
down €4,081 (-94.3%), from €4,330 to €248
- Taxes -€725
down €725 (-84.6%), from €857 to €132
- Financial charges +€129
up €129 (+10.2%), from €1,262 to €1,391
- Other operating charges +€79
up €79 (+10.2%), from €778 to €857
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 | €32,579 | €41,868 | +€9,289 | +28.5% |
| Fixed assets | 21/28 | €1,027 | €448 | -€579 | -56.4% |
| Tangible fixed assets | 22/27 | €967 | €388 | -€579 | -59.9% |
| Plant, machinery and equipment | 23 | €967 | €388 | -€579 | -59.9% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €31,553 | €41,420 | +€9,868 | +31.3% |
| Amounts receivable within one year | 40/41 | €1,205 | €17,510 | +€16,305 | +1,353% |
| Trade receivables | 40 | €0 | €17,510 | +€17,510 | |
| Other amounts receivable | 41 | €1,205 | €0 | -€1,205 | -100% |
| Cash at bank and in hand | 54/58 | €29,597 | €23,446 | -€6,151 | -20.8% |
| Deferred charges and accrued income | 490/1 | €751 | €464 | -€286 | -38.1% |
| Total equity and liabilities | 10/49 | €32,579 | €41,868 | +€9,289 | +28.5% |
| Equity | 10/15 | €15,484 | €12,842 | -€2,642 | -17.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,484 | €2,842 | -€2,642 | -48.2% |
| Amounts payable | 17/49 | €17,095 | €29,026 | +€11,931 | +69.8% |
| Amounts payable within one year | 42/48 | €16,257 | €27,966 | +€11,709 | +72.0% |
| Trade debts | 44 | €631 | €2,753 | +€2,123 | +337% |
| Suppliers | 440/4 | €631 | €2,753 | +€2,123 | +337% |
| Taxes, remuneration and social security | 45 | €4,454 | €9,903 | +€5,449 | +122% |
| Taxes | 450/3 | €2,377 | €9,903 | +€7,526 | +317% |
| Remuneration and social security | 454/9 | €2,078 | €0 | -€2,078 | -100% |
| Other amounts payable | 47/48 | €11,172 | €15,310 | +€4,138 | +37.0% |
| Accrued charges and deferred income | 492/3 | €838 | €1,060 | +€222 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | €579 | = | 0.0% |
| Other operating charges | 640/8 | €778 | €857 | +€79 | +10.2% |
| Gross operating margin | 9900 | €4,330 | €248 | -€4,081 | -94.3% |
| Operating profit (loss) | 9901 | €2,973 | -€1,188 | -€4,161 | |
| Financial income | 75/76B | €109 | €69 | -€40 | -37.0% |
| Recurring financial income | 75 | €109 | €69 | -€40 | -37.0% |
| Financial charges | 65/66B | €1,262 | €1,391 | +€129 | +10.2% |
| Recurring financial charges | 65 | €1,262 | €1,391 | +€129 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,820 | -€2,510 | -€4,330 | |
| Income taxes | 67/77 | €857 | €132 | -€725 | -84.6% |
| Profit (loss) for the period | 9904 | €963 | -€2,642 | -€3,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €963 | -€2,642 | -€3,605 |
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 20 October 2026 via checked.be.