V D B TECHNICS: 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.
V D B TECHNICS
Largest movements
- Receivables within one year -€105,234
down €105,234 (-25.8%), from €408,296 to €303,063
of which Trade receivables: -€74,118
- Cash +€98,299
up €98,299 (+419.5%), from €23,433 to €121,732
mainly Receivables within one year (+€105,234) and Depreciation (+€57,232)
- Stocks and contracts +€84,754
up €84,754 (+24.7%), from €343,048 to €427,802
of which Contracts in progress: +€139,923
- Tangible fixed assets -€43,239
down €43,239 (-10.1%), from €428,588 to €385,349
of which Land and buildings: -€31,675
- Debts after one year -€55,458
down €55,458 (-17.6%), from €315,829 to €260,371
of which Financial debts: -€55,458
- Other debts +€50,572
up €50,572 (+226.6%), from €22,317 to €72,890
- Short-term financial debts +€50,000
up €50,000, from €0 to €50,000
- Staff costs +€67,155
up €67,155 (+15.5%), from €433,679 to €500,834
- Taxes -€20,498
down €20,498 (-84.8%), from €24,177 to €3,679
- Gross operating margin -€8,257
down €8,257 (-1.4%), from €592,716 to €584,459
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.
Cash bridge derived
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 | €1,228,611 | €1,258,840 | +€30,229 | +2.5% |
| Formation expenses | 20 | €4,416 | €3,851 | -€565 | -12.8% |
| Fixed assets | 21/28 | €449,418 | €399,009 | -€50,409 | -11.2% |
| Intangible fixed assets | 21 | €20,830 | €13,660 | -€7,170 | -34.4% |
| Tangible fixed assets | 22/27 | €428,588 | €385,349 | -€43,239 | -10.1% |
| Land and buildings | 22 | €383,057 | €351,382 | -€31,675 | -8.3% |
| Plant, machinery and equipment | 23 | €5,558 | €22,797 | +€17,238 | +310.1% |
| Furniture and vehicles | 24 | €39,972 | €11,171 | -€28,802 | -72.1% |
| Current assets | 29/58 | €774,777 | €855,980 | +€81,203 | +10.5% |
| Stocks and contracts in progress | 3 | €343,048 | €427,802 | +€84,754 | +24.7% |
| Stocks | 30/36 | €343,048 | €287,879 | -€55,169 | -16.1% |
| Contracts in progress | 37 | €0 | €139,923 | +€139,923 | |
| Amounts receivable within one year | 40/41 | €408,296 | €303,063 | -€105,234 | -25.8% |
| Trade receivables | 40 | €373,890 | €299,772 | -€74,118 | -19.8% |
| Other amounts receivable | 41 | €34,406 | €3,291 | -€31,115 | -90.4% |
| Cash at bank and in hand | 54/58 | €23,433 | €121,732 | +€98,299 | +419.5% |
| Deferred charges and accrued income | 490/1 | €0 | €3,384 | +€3,384 | |
| Total equity and liabilities | 10/49 | €1,228,611 | €1,258,840 | +€30,229 | +2.5% |
| Equity | 10/15 | €656,252 | €658,513 | +€2,261 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €600,105 | €602,366 | +€2,261 | +0.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €598,245 | €600,506 | +€2,261 | +0.4% |
| Profit (loss) carried forward | 14 | €37,547 | €37,547 | = | 0.0% |
| Amounts payable | 17/49 | €572,360 | €600,328 | +€27,968 | +4.9% |
| Amounts payable after more than one year | 17 | €315,829 | €260,371 | -€55,458 | -17.6% |
| Financial debts | 170/4 | €258,191 | €202,733 | -€55,458 | -21.5% |
| Other amounts payable | 178/9 | €57,638 | €57,638 | = | 0.0% |
| Amounts payable within one year | 42/48 | €253,949 | €333,639 | +€79,690 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €33,482 | €34,119 | +€637 | +1.9% |
| Financial debts | 43 | €0 | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | €0 | €50,000 | +€50,000 | |
| Trade debts | 44 | €117,260 | €107,624 | -€9,637 | -8.2% |
| Suppliers | 440/4 | €117,260 | €107,624 | -€9,637 | -8.2% |
| Taxes, remuneration and social security | 45 | €80,889 | €69,006 | -€11,883 | -14.7% |
| Taxes | 450/3 | €24,693 | €24,139 | -€553 | -2.2% |
| Remuneration and social security | 454/9 | €56,196 | €44,867 | -€11,329 | -20.2% |
| Other amounts payable | 47/48 | €22,317 | €72,890 | +€50,572 | +226.6% |
| Accrued charges and deferred income | 492/3 | €2,581 | €6,318 | +€3,737 | +144.8% |
| Non-recurring operating income | 76A | €8,900 | €0 | -€8,900 | -100.0% |
| Remuneration, social security and pensions | 62 | €433,679 | €500,834 | +€67,155 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,990 | €57,232 | -€5,758 | -9.1% |
| Other operating charges | 640/8 | €11,778 | €13,343 | +€1,565 | +13.3% |
| Gross operating margin | 9900 | €592,716 | €584,459 | -€8,257 | -1.4% |
| Operating profit (loss) | 9901 | €84,269 | €13,050 | -€71,219 | -84.5% |
| Financial income | 75/76B | €1,814 | €1,898 | +€84 | +4.6% |
| Recurring financial income | 75 | €1,814 | €1,898 | +€84 | +4.6% |
| Financial charges | 65/66B | €11,217 | €9,008 | -€2,209 | -19.7% |
| Recurring financial charges | 65 | €11,217 | €9,008 | -€2,209 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €74,867 | €5,940 | -€68,926 | -92.1% |
| Income taxes | 67/77 | €24,177 | €3,679 | -€20,498 | -84.8% |
| Profit (loss) for the period | 9904 | €50,689 | €2,261 | -€48,428 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,689 | €2,261 | -€48,428 | -95.5% |
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 10 October 2026 via checked.be.