V.D.E.: 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.E.
Largest movements
- Cash -€23,251
down €23,251 (-10.7%), from €217,143 to €193,891
mainly Net result for the year (-€30,634) and Debts after one year (-€15,352)
- Tangible fixed assets -€13,084
down €13,084 (-3.8%), from €343,230 to €330,146
- Profit (loss) carried forward -€30,634
down €30,634 (-53.5%), from -€57,282 to -€87,916
- Debts after one year -€15,352
down €15,352 (-43.4%), from €35,352 to €20,000
- Other debts +€8,382
up €8,382 (+130.5%), from €6,424 to €14,806
- Trade debts +€7,446
up €7,446 (+265.1%), from €2,808 to €10,254
- Gross operating margin +€26,240
up €26,240, from -€20,350 to €5,890
- Financial income +€795
up €795 (+112.2%), from €709 to €1,504
- Other operating charges +€265
up €265 (+2.9%), from €9,253 to €9,518
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 | €613,996 | €580,251 | -€33,745 | -5.5% |
| Fixed assets | 21/28 | €343,230 | €330,146 | -€13,084 | -3.8% |
| Tangible fixed assets | 22/27 | €343,230 | €330,146 | -€13,084 | -3.8% |
| Land and buildings | 22 | €343,230 | €330,146 | -€13,084 | -3.8% |
| Current assets | 29/58 | €270,766 | €250,105 | -€20,661 | -7.6% |
| Amounts receivable within one year | 40/41 | €52,436 | €54,987 | +€2,551 | +4.9% |
| Trade receivables | 40 | €52,223 | €54,323 | +€2,100 | +4.0% |
| Other amounts receivable | 41 | €213 | €664 | +€451 | +212.2% |
| Cash at bank and in hand | 54/58 | €217,143 | €193,891 | -€23,251 | -10.7% |
| Deferred charges and accrued income | 490/1 | €1,188 | €1,227 | +€39 | +3.3% |
| Total equity and liabilities | 10/49 | €613,996 | €580,251 | -€33,745 | -5.5% |
| Equity | 10/15 | €557,289 | €526,655 | -€30,634 | -5.5% |
| Contributions | 10/11 | €470,000 | €470,000 | = | 0.0% |
| Capital | 10 | €470,000 | €470,000 | = | 0.0% |
| Issued capital | 100 | €470,000 | €470,000 | = | 0.0% |
| Reserves | 13 | €144,571 | €144,571 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,000 | €47,000 | = | 0.0% |
| Legal reserve | 130 | €47,000 | €47,000 | = | 0.0% |
| Distributable reserves | 133 | €97,571 | €97,571 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,282 | -€87,916 | -€30,634 | -53.5% |
| Amounts payable | 17/49 | €56,707 | €53,596 | -€3,111 | -5.5% |
| Amounts payable after more than one year | 17 | €35,352 | €20,000 | -€15,352 | -43.4% |
| Financial debts | 170/4 | €35,352 | €20,000 | -€15,352 | -43.4% |
| Amounts payable within one year | 42/48 | €21,356 | €33,596 | +€12,241 | +57.3% |
| Trade debts | 44 | €2,808 | €10,254 | +€7,446 | +265.1% |
| Suppliers | 440/4 | €2,808 | €10,254 | +€7,446 | +265.1% |
| Taxes, remuneration and social security | 45 | €12,123 | €8,536 | -€3,588 | -29.6% |
| Taxes | 450/3 | €7,323 | €1,293 | -€6,030 | -82.3% |
| Remuneration and social security | 454/9 | €4,800 | €7,242 | +€2,442 | +50.9% |
| Other amounts payable | 47/48 | €6,424 | €14,806 | +€8,382 | +130.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,209 | €28,326 | +€117 | +0.4% |
| Other operating charges | 640/8 | €9,253 | €9,518 | +€265 | +2.9% |
| Gross operating margin | 9900 | -€20,350 | €5,890 | +€26,240 | |
| Operating profit (loss) | 9901 | -€57,812 | -€31,955 | +€25,858 | +44.7% |
| Financial income | 75/76B | €709 | €1,504 | +€795 | +112.2% |
| Recurring financial income | 75 | €709 | €1,504 | +€795 | +112.2% |
| Financial charges | 65/66B | €178 | €183 | +€4 | +2.4% |
| Recurring financial charges | 65 | €178 | €183 | +€4 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€57,282 | -€30,634 | +€26,648 | +46.5% |
| Profit (loss) for the period | 9904 | -€57,282 | -€30,634 | +€26,648 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,282 | -€30,634 | +€26,648 | +46.5% |
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 30 September 2026 via checked.be.