V.D.B. - TRANS: 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. - TRANS
Largest movements
- Cash +€35,665
up €35,665 (+24.4%), from €146,117 to €181,782
mainly Net result for the year (+€27,040) and Depreciation (+€18,731)
- Tangible fixed assets -€18,731
down €18,731 (-47.7%), from €39,261 to €20,531
of which Furniture and vehicles: -€14,003
- Deferred charges and accrued income +€6,173
up €6,173 (+346%), from €1,784 to €7,957
- Reserves +€27,040
up €27,040 (+7.0%), from €385,295 to €412,336
of which Distributable reserves: +€27,040
- Tax, wage and social debts -€5,175
down €5,175 (-66.8%), from €7,751 to €2,577
- Financial income -€145,898
down €145,898 (-97.9%), from €149,093 to €3,195
- Gross operating margin +€21,182
up €21,182 (+64.1%), from €33,035 to €54,218
- Taxes -€6,801
down €6,801 (-39.3%), from €17,309 to €10,508
- Depreciation -€1,496
down €1,496 (-7.4%), from €20,226 to €18,731
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 | €427,278 | €452,805 | +€25,527 | +6.0% |
| Fixed assets | 21/28 | €176,761 | €158,031 | -€18,731 | -10.6% |
| Tangible fixed assets | 22/27 | €39,261 | €20,531 | -€18,731 | -47.7% |
| Land and buildings | 22 | €1,828 | €1,600 | -€229 | -12.5% |
| Plant, machinery and equipment | 23 | €2,145 | €1,284 | -€861 | -40.2% |
| Furniture and vehicles | 24 | €24,356 | €10,352 | -€14,003 | -57.5% |
| Other tangible fixed assets | 26 | €10,933 | €7,295 | -€3,637 | -33.3% |
| Financial fixed assets | 28 | €137,500 | €137,500 | = | 0.0% |
| Current assets | 29/58 | €250,517 | €294,774 | +€44,258 | +17.7% |
| Amounts receivable within one year | 40/41 | €102,615 | €105,035 | +€2,420 | +2.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €102,615 | €105,035 | +€2,420 | +2.4% |
| Cash at bank and in hand | 54/58 | €146,117 | €181,782 | +€35,665 | +24.4% |
| Deferred charges and accrued income | 490/1 | €1,784 | €7,957 | +€6,173 | +346% |
| Total equity and liabilities | 10/49 | €427,278 | €452,805 | +€25,527 | +6.0% |
| Equity | 10/15 | €403,895 | €430,936 | +€27,040 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €385,295 | €412,336 | +€27,040 | +7.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €380,295 | €407,336 | +€27,040 | +7.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,383 | €21,869 | -€1,514 | -6.5% |
| Amounts payable within one year | 42/48 | €23,383 | €21,869 | -€1,514 | -6.5% |
| Trade debts | 44 | €1,594 | €4,326 | +€2,732 | +171% |
| Suppliers | 440/4 | €1,594 | €4,326 | +€2,732 | +171% |
| Taxes, remuneration and social security | 45 | €7,751 | €2,577 | -€5,175 | -66.8% |
| Taxes | 450/3 | €7,751 | €2,577 | -€5,175 | -66.8% |
| Other amounts payable | 47/48 | €14,037 | €14,966 | +€929 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,226 | €18,731 | -€1,496 | -7.4% |
| Other operating charges | 640/8 | €1,221 | €1,066 | -€155 | -12.7% |
| Gross operating margin | 9900 | €33,035 | €54,218 | +€21,182 | +64.1% |
| Operating profit (loss) | 9901 | €11,588 | €34,422 | +€22,833 | +197% |
| Financial income | 75/76B | €149,093 | €3,195 | -€145,898 | -97.9% |
| Recurring financial income | 75 | €149,093 | €3,195 | -€145,898 | -97.9% |
| Financial charges | 65/66B | €74 | €68 | -€6 | -7.7% |
| Recurring financial charges | 65 | €74 | €68 | -€6 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €160,608 | €37,548 | -€123,059 | -76.6% |
| Income taxes | 67/77 | €17,309 | €10,508 | -€6,801 | -39.3% |
| Profit (loss) for the period | 9904 | €143,299 | €27,040 | -€116,259 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €143,299 | €27,040 | -€116,259 | -81.1% |
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 17 October 2026 via checked.be.