ROGER VDK+: 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.
ROGER VDK+
Largest movements
- Cash +€144,081
up €144,081 (+107%), from €134,274 to €278,355
mainly Other debts (+€239,927) and Net result for the year (+€239,152)
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
- Tangible fixed assets +€96,518
up €96,518 (+13.9%), from €693,829 to €790,347
of which Furniture and vehicles: +€121,451
- Receivables after one year +€60,000
up €60,000 (+150%), from €40,000 to €100,000
- Other debts +€239,927
up €239,927 (+418%), from €57,432 to €297,359
- Tax, wage and social debts +€56,109
up €56,109 (+281%), from €19,969 to €76,078
of which Taxes: +€59,451
- Reserves -€50,000
down €50,000 (-9.9%), from €503,000 to €453,000
- Trade debts -€37,338
down €37,338 (-37.9%), from €98,433 to €61,095
- Profit (loss) carried forward -€26,042
no longer reported in 2025 (was €26,042)
- Gross operating margin +€110,526
up €110,526 (+30.7%), from €360,463 to €470,989
- Depreciation +€17,812
up €17,812 (+43.1%), from €41,290 to €59,101
- Taxes +€13,262
up €13,262 (+19.7%), from €67,182 to €80,444
- Staff costs +€4,786
up €4,786 (+5.8%), from €82,192 to €86,978
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 | €1,086,183 | €1,244,781 | +€158,598 | +14.6% |
| Fixed assets | 21/28 | €693,829 | €790,347 | +€96,518 | +13.9% |
| Tangible fixed assets | 22/27 | €693,829 | €790,347 | +€96,518 | +13.9% |
| Land and buildings | 22 | €524,184 | €498,791 | -€25,393 | -4.8% |
| Plant, machinery and equipment | 23 | €29,730 | €30,189 | +€460 | +1.5% |
| Furniture and vehicles | 24 | €139,916 | €261,367 | +€121,451 | +86.8% |
| Current assets | 29/58 | €392,353 | €454,434 | +€62,081 | +15.8% |
| Amounts receivable after more than one year | 29 | €40,000 | €100,000 | +€60,000 | +150% |
| Trade receivables | 290 | €40,000 | €100,000 | +€60,000 | +150% |
| Amounts receivable within one year | 40/41 | €88,079 | €76,079 | -€12,000 | -13.6% |
| Trade receivables | 40 | €26,335 | €18,925 | -€7,409 | -28.1% |
| Other amounts receivable | 41 | €61,745 | €57,154 | -€4,591 | -7.4% |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €134,274 | €278,355 | +€144,081 | +107% |
| Total equity and liabilities | 10/49 | €1,086,183 | €1,244,781 | +€158,598 | +14.6% |
| Equity | 10/15 | €547,642 | €471,600 | -€76,042 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €503,000 | €453,000 | -€50,000 | -9.9% |
| Distributable reserves | 133 | €503,000 | €453,000 | -€50,000 | -9.9% |
| Profit (loss) carried forward | 14 | €26,042 | - | -€26,042 | |
| Amounts payable | 17/49 | €538,541 | €773,181 | +€234,640 | +43.6% |
| Amounts payable after more than one year | 17 | €338,650 | €314,592 | -€24,057 | -7.1% |
| Financial debts | 170/4 | €338,650 | €314,592 | -€24,057 | -7.1% |
| Amounts payable within one year | 42/48 | €199,891 | €458,589 | +€258,698 | +129% |
| Current portion of amounts payable after more than one year | 42 | €24,057 | €24,057 | = | 0.0% |
| Trade debts | 44 | €98,433 | €61,095 | -€37,338 | -37.9% |
| Suppliers | 440/4 | €98,433 | €61,095 | -€37,338 | -37.9% |
| Taxes, remuneration and social security | 45 | €19,969 | €76,078 | +€56,109 | +281% |
| Taxes | 450/3 | €1,750 | €61,201 | +€59,451 | +3,397% |
| Remuneration and social security | 454/9 | €18,219 | €14,877 | -€3,342 | -18.3% |
| Other amounts payable | 47/48 | €57,432 | €297,359 | +€239,927 | +418% |
| Remuneration, social security and pensions | 62 | €82,192 | €86,978 | +€4,786 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,290 | €59,101 | +€17,812 | +43.1% |
| Other operating charges | 640/8 | €4,046 | €7,435 | +€3,389 | +83.8% |
| Gross operating margin | 9900 | €360,463 | €470,989 | +€110,526 | +30.7% |
| Operating profit (loss) | 9901 | €232,936 | €317,474 | +€84,538 | +36.3% |
| Financial income | 75/76B | €5,446 | €7,743 | +€2,298 | +42.2% |
| Recurring financial income | 75 | €5,446 | €7,743 | +€2,298 | +42.2% |
| Financial charges | 65/66B | €6,211 | €5,622 | -€589 | -9.5% |
| Recurring financial charges | 65 | €6,211 | €5,622 | -€589 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €232,171 | €319,596 | +€87,425 | +37.7% |
| Income taxes | 67/77 | €67,182 | €80,444 | +€13,262 | +19.7% |
| Profit (loss) for the period | 9904 | €164,989 | €239,152 | +€74,163 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,989 | €239,152 | +€74,163 | +45.0% |
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 19 October 2026 via checked.be.