V&D CONCEPT: 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 CONCEPT
Largest movements
- Cash +€14,878
up €14,878 (+1098.8%), from €1,354 to €16,232
mainly Net result for the year (+€21,781) and Debts after one year (+€14,288)
- Tangible fixed assets +€14,297
up €14,297 (+58.9%), from €24,262 to €38,559
of which Furniture and vehicles: +€14,642
- Receivables within one year +€3,439
up €3,439 (+19.9%), from €17,311 to €20,750
of which Other amounts receivable: +€7,015
- Profit (loss) carried forward +€21,781
up €21,781, from -€5,505 to €16,276
- Debts after one year +€14,288
up €14,288 (+80.0%), from €17,861 to €32,149
- Trade debts -€8,647
no longer reported in 2025 (was €8,647)
- Tax, wage and social debts +€5,846
up €5,846 (+193.1%), from €3,028 to €8,874
of which Taxes: +€5,846
- Gross operating margin +€29,045
up €29,045 (+282.7%), from €10,274 to €39,319
- Taxes +€5,846
up €5,846 (+4567.2%), from €128 to €5,974
- Financial charges -€1,571
down €1,571 (-59.4%), from €2,646 to €1,075
- Other operating charges -€1,323
down €1,323 (-72.2%), from €1,833 to €510
- Depreciation +€419
up €419 (+4.4%), from €9,560 to €9,979
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 | €42,927 | €75,959 | +€33,032 | +76.9% |
| Fixed assets | 21/28 | €24,262 | €38,559 | +€14,297 | +58.9% |
| Tangible fixed assets | 22/27 | €24,262 | €38,559 | +€14,297 | +58.9% |
| Plant, machinery and equipment | 23 | €437 | €92 | -€345 | -78.9% |
| Furniture and vehicles | 24 | €23,825 | €38,467 | +€14,642 | +61.5% |
| Current assets | 29/58 | €18,665 | €37,400 | +€18,735 | +100.4% |
| Amounts receivable within one year | 40/41 | €17,311 | €20,750 | +€3,439 | +19.9% |
| Trade receivables | 40 | €16,095 | €12,519 | -€3,576 | -22.2% |
| Other amounts receivable | 41 | €1,216 | €8,231 | +€7,015 | +576.9% |
| Cash at bank and in hand | 54/58 | €1,354 | €16,232 | +€14,878 | +1098.8% |
| Deferred charges and accrued income | 490/1 | - | €418 | +€418 | |
| Total equity and liabilities | 10/49 | €42,927 | €75,959 | +€33,032 | +76.9% |
| Equity | 10/15 | -€3,505 | €18,276 | +€21,781 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,505 | €16,276 | +€21,781 | |
| Amounts payable | 17/49 | €46,432 | €57,683 | +€11,251 | +24.2% |
| Amounts payable after more than one year | 17 | €17,861 | €32,149 | +€14,288 | +80.0% |
| Financial debts | 170/4 | €17,861 | €32,149 | +€14,288 | +80.0% |
| Amounts payable within one year | 42/48 | €28,571 | €25,534 | -€3,037 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €9,846 | €9,846 | = | 0.0% |
| Trade debts | 44 | €8,647 | - | -€8,647 | |
| Suppliers | 440/4 | €8,647 | - | -€8,647 | |
| Taxes, remuneration and social security | 45 | €3,028 | €8,874 | +€5,846 | +193.1% |
| Taxes | 450/3 | €128 | €5,974 | +€5,846 | +4567.2% |
| Remuneration and social security | 454/9 | €2,900 | €2,900 | = | 0.0% |
| Other amounts payable | 47/48 | €7,050 | €6,814 | -€236 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,560 | €9,979 | +€419 | +4.4% |
| Other operating charges | 640/8 | €1,833 | €510 | -€1,323 | -72.2% |
| Gross operating margin | 9900 | €10,274 | €39,319 | +€29,045 | +282.7% |
| Operating profit (loss) | 9901 | -€1,119 | €28,830 | +€29,949 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €2,646 | €1,075 | -€1,571 | -59.4% |
| Recurring financial charges | 65 | €2,646 | €1,075 | -€1,571 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,763 | €27,755 | +€31,518 | |
| Income taxes | 67/77 | €128 | €5,974 | +€5,846 | +4567.2% |
| Profit (loss) for the period | 9904 | -€3,891 | €21,781 | +€25,672 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,891 | €21,781 | +€25,672 |
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 3 October 2026 via checked.be.