R.VDL: 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.
R.VDL
Largest movements
- Receivables within one year +€8,366
up €8,366 (+337%), from €2,480 to €10,846
of which Trade receivables: +€8,366
- Cash -€5,900
down €5,900 (-18.4%), from €32,031 to €26,131
mainly Receivables within one year (-€8,366) and Other debts (-€6,614)
- Tangible fixed assets -€4,690
down €4,690 (-19.5%), from €24,008 to €19,318
of which Plant, machinery and equipment: -€4,131
- Stocks and contracts +€1,789
up €1,789 (+34.2%), from €5,227 to €7,016
- Profit (loss) carried forward +€6,745
up €6,745 (+90.9%), from €7,418 to €14,163
- Other debts -€6,614
down €6,614 (-31.6%), from €20,917 to €14,303
- Trade debts -€2,849
down €2,849 (-32.7%), from €8,714 to €5,865
- Accrued charges and deferred income +€1,800
new in 2025: €1,800
- Other operating charges +€5,835
up €5,835 (+162%), from €3,601 to €9,436
- Taxes +€1,611
up €1,611 (+384%), from €420 to €2,031
- Gross operating margin -€761
down €761 (-3.2%), from €24,123 to €23,362
- Financial charges -€708
down €708 (-60.5%), from €1,171 to €463
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 | €63,746 | €63,311 | -€435 | -0.7% |
| Fixed assets | 21/28 | €24,008 | €19,318 | -€4,690 | -19.5% |
| Tangible fixed assets | 22/27 | €24,008 | €19,318 | -€4,690 | -19.5% |
| Land and buildings | 22 | €2,903 | €2,344 | -€559 | -19.3% |
| Plant, machinery and equipment | 23 | €21,105 | €16,974 | -€4,131 | -19.6% |
| Current assets | 29/58 | €39,738 | €43,993 | +€4,255 | +10.7% |
| Stocks and contracts in progress | 3 | €5,227 | €7,016 | +€1,789 | +34.2% |
| Stocks | 30/36 | €5,227 | €7,016 | +€1,789 | +34.2% |
| Amounts receivable within one year | 40/41 | €2,480 | €10,846 | +€8,366 | +337% |
| Trade receivables | 40 | €2,039 | €10,405 | +€8,366 | +410% |
| Other amounts receivable | 41 | €441 | €441 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,031 | €26,131 | -€5,900 | -18.4% |
| Total equity and liabilities | 10/49 | €63,746 | €63,311 | -€435 | -0.7% |
| Equity | 10/15 | €30,749 | €37,494 | +€6,745 | +21.9% |
| Contributions | 10/11 | €21,500 | €21,500 | = | 0.0% |
| Reserves | 13 | €1,831 | €1,831 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,537 | €1,537 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,537 | €1,537 | = | 0.0% |
| Tax-exempt reserves | 132 | €294 | €294 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,418 | €14,163 | +€6,745 | +90.9% |
| Amounts payable | 17/49 | €32,997 | €25,817 | -€7,180 | -21.8% |
| Amounts payable within one year | 42/48 | €32,997 | €24,017 | -€8,980 | -27.2% |
| Trade debts | 44 | €8,714 | €5,865 | -€2,849 | -32.7% |
| Suppliers | 440/4 | €8,714 | €5,865 | -€2,849 | -32.7% |
| Taxes, remuneration and social security | 45 | €3,366 | €3,849 | +€483 | +14.3% |
| Taxes | 450/3 | €3,366 | €3,849 | +€483 | +14.3% |
| Other amounts payable | 47/48 | €20,917 | €14,303 | -€6,614 | -31.6% |
| Accrued charges and deferred income | 492/3 | - | €1,800 | +€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,690 | €4,690 | = | 0.0% |
| Other operating charges | 640/8 | €3,601 | €9,436 | +€5,835 | +162% |
| Gross operating margin | 9900 | €24,123 | €23,362 | -€761 | -3.2% |
| Operating profit (loss) | 9901 | €15,832 | €9,236 | -€6,596 | -41.7% |
| Financial income | 75/76B | €41 | €3 | -€38 | -92.7% |
| Recurring financial income | 75 | €41 | €3 | -€38 | -92.7% |
| Financial charges | 65/66B | €1,171 | €463 | -€708 | -60.5% |
| Recurring financial charges | 65 | €1,171 | €463 | -€708 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €14,702 | €8,776 | -€5,926 | -40.3% |
| Income taxes | 67/77 | €420 | €2,031 | +€1,611 | +384% |
| Profit (loss) for the period | 9904 | €14,282 | €6,745 | -€7,537 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,282 | €6,745 | -€7,537 | -52.8% |
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 16 October 2026 via checked.be.