V.D.C. ENGINEERING: what changed
Two fiscal 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.C. ENGINEERING
Largest movements
- Tangible fixed assets +€85,532
up €85,532 (+81.6%), from €104,795 to €190,327
of which Furniture and vehicles: +€97,221
- Cash +€43,464
up €43,464 (+22.6%), from €191,946 to €235,410
mainly Debts after one year (+€67,790) and Depreciation (+€56,875)
- Receivables within one year +€43,365
up €43,365 (+10.8%), from €399,732 to €443,097
of which Other amounts receivable: +€27,698
- Deferred charges and accrued income +€13,456
up €13,456 (+143.2%), from €9,398 to €22,854
- Debts after one year +€67,790
up €67,790 (+169.3%), from €40,049 to €107,839
- Reserves +€54,730
up €54,730 (+1765.5%), from €3,100 to €57,830
of which Tax-exempt reserves: +€54,730
- Tax, wage and social debts +€42,054
up €42,054 (+28.9%), from €145,499 to €187,553
of which Remuneration and social security: +€37,155
- Short-term financial debts -€26,913
down €26,913 (-100.0%), from €26,913 to €0
- Current portion of long-term debt +€18,232
up €18,232 (+67.9%), from €26,861 to €45,093
- Gross operating margin +€142,992
up €142,992 (+16.7%), from €857,768 to €1.0m
- Staff costs +€133,155
up €133,155 (+18.7%), from €712,693 to €845,848
- Depreciation +€24,107
up €24,107 (+73.6%), from €32,767 to €56,875
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 | €755,336 | €935,071 | +€179,735 | +23.8% |
| Fixed assets | 21/28 | €148,178 | €233,711 | +€85,532 | +57.7% |
| Tangible fixed assets | 22/27 | €104,795 | €190,327 | +€85,532 | +81.6% |
| Plant, machinery and equipment | 23 | €2,179 | €154 | -€2,025 | -92.9% |
| Furniture and vehicles | 24 | €82,056 | €179,277 | +€97,221 | +118.5% |
| Leasing and similar rights | 25 | €20,560 | €10,896 | -€9,664 | -47.0% |
| Financial fixed assets | 28 | €43,384 | €43,384 | = | 0.0% |
| Current assets | 29/58 | €607,158 | €701,360 | +€94,203 | +15.5% |
| Stocks and contracts in progress | 3 | €6,081 | €0 | -€6,081 | -100.0% |
| Stocks | 30/36 | €6,081 | €0 | -€6,081 | -100.0% |
| Amounts receivable within one year | 40/41 | €399,732 | €443,097 | +€43,365 | +10.8% |
| Trade receivables | 40 | €380,683 | €396,350 | +€15,667 | +4.1% |
| Other amounts receivable | 41 | €19,049 | €46,747 | +€27,698 | +145.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €191,946 | €235,410 | +€43,464 | +22.6% |
| Deferred charges and accrued income | 490/1 | €9,398 | €22,854 | +€13,456 | +143.2% |
| Total equity and liabilities | 10/49 | €755,336 | €935,071 | +€179,735 | +23.8% |
| Equity | 10/15 | €376,396 | €417,788 | +€41,392 | +11.0% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €3,100 | €57,830 | +€54,730 | +1765.5% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €54,730 | +€54,730 | |
| Profit (loss) carried forward | 14 | €342,296 | €328,958 | -€13,338 | -3.9% |
| Amounts payable | 17/49 | €378,940 | €517,283 | +€138,343 | +36.5% |
| Amounts payable after more than one year | 17 | €40,049 | €107,839 | +€67,790 | +169.3% |
| Financial debts | 170/4 | €40,049 | €107,839 | +€67,790 | +169.3% |
| Amounts payable within one year | 42/48 | €329,629 | €387,188 | +€57,558 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €26,861 | €45,093 | +€18,232 | +67.9% |
| Financial debts | 43 | €26,913 | €0 | -€26,913 | -100.0% |
| Credit institutions | 430/8 | €26,913 | €0 | -€26,913 | -100.0% |
| Trade debts | 44 | €124,969 | €133,110 | +€8,141 | +6.5% |
| Suppliers | 440/4 | €124,969 | €133,110 | +€8,141 | +6.5% |
| Taxes, remuneration and social security | 45 | €145,499 | €187,553 | +€42,054 | +28.9% |
| Taxes | 450/3 | €38,675 | €43,573 | +€4,898 | +12.7% |
| Remuneration and social security | 454/9 | €106,824 | €143,979 | +€37,155 | +34.8% |
| Other amounts payable | 47/48 | €5,388 | €21,432 | +€16,044 | +297.8% |
| Accrued charges and deferred income | 492/3 | €9,262 | €22,256 | +€12,994 | +140.3% |
| Non-recurring operating income | 76A | €2,185 | €2,893 | +€708 | +32.4% |
| Remuneration, social security and pensions | 62 | €712,693 | €845,848 | +€133,155 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,767 | €56,875 | +€24,107 | +73.6% |
| Other operating charges | 640/8 | €7,851 | €11,727 | +€3,875 | +49.4% |
| Non-recurring operating charges | 66A | - | €4,715 | +€4,715 | |
| Gross operating margin | 9900 | €857,768 | €1,000,760 | +€142,992 | +16.7% |
| Operating profit (loss) | 9901 | €104,456 | €81,596 | -€22,860 | -21.9% |
| Financial income | 75/76B | €1,235 | €778 | -€457 | -37.0% |
| Recurring financial income | 75 | €1,235 | €778 | -€457 | -37.0% |
| Financial charges | 65/66B | €6,180 | €6,461 | +€281 | +4.6% |
| Recurring financial charges | 65 | €6,180 | €6,461 | +€281 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €99,512 | €75,913 | -€23,599 | -23.7% |
| Income taxes | 67/77 | €34,321 | €34,521 | +€200 | +0.6% |
| Profit (loss) for the period | 9904 | €65,191 | €41,392 | -€23,799 | -36.5% |
| Transfer to tax-exempt reserves | 689 | - | €54,730 | +€54,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,191 | -€13,338 | -€78,529 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.