V.D.K. LOCATION: 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.K. LOCATION
Largest movements
- Receivables within one year -€246,774
down €246,774 (-45.1%), from €547,527 to €300,753
of which Trade receivables: -€275,320
- Receivables after one year +€18,105
up €18,105 (+6.2%), from €292,463 to €310,568
of which Other amounts receivable: +€18,105
- Tangible fixed assets -€16,507
down €16,507 (-10.4%), from €158,263 to €141,756
of which Plant, machinery and equipment: -€16,034
- Trade debts -€189,462
down €189,462 (-65.6%), from €288,667 to €99,205
- Profit (loss) carried forward -€49,869
new in 2025: -€49,869
- Debts after one year -€11,969
down €11,969 (-2.9%), from €416,761 to €404,792
- Gross operating margin -€79,734
down €79,734, from €78,002 to -€1,732
- Taxes -€5,400
down €5,400 (-58.7%), from €9,198 to €3,798
- Financial income -€4,527
down €4,527 (-31.5%), from €14,386 to €9,859
- Depreciation -€3,714
down €3,714 (-10.2%), from €36,521 to €32,807
- Financial charges -€2,191
down €2,191 (-10.2%), from €21,573 to €19,382
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 | €1,008,516 | €769,717 | -€238,799 | -23.7% |
| Fixed assets | 21/28 | €160,719 | €142,917 | -€17,801 | -11.1% |
| Intangible fixed assets | 21 | €1,962 | €1,162 | -€800 | -40.8% |
| Tangible fixed assets | 22/27 | €158,263 | €141,756 | -€16,507 | -10.4% |
| Land and buildings | 22 | €81,818 | €81,818 | = | 0.0% |
| Plant, machinery and equipment | 23 | €37,591 | €21,557 | -€16,034 | -42.7% |
| Furniture and vehicles | 24 | €38,854 | €38,381 | -€473 | -1.2% |
| Financial fixed assets | 28 | €494 | €0 | -€494 | -100% |
| Current assets | 29/58 | €847,798 | €626,799 | -€220,998 | -26.1% |
| Amounts receivable after more than one year | 29 | €292,463 | €310,568 | +€18,105 | +6.2% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €292,463 | €310,568 | +€18,105 | +6.2% |
| Amounts receivable within one year | 40/41 | €547,527 | €300,753 | -€246,774 | -45.1% |
| Trade receivables | 40 | €382,865 | €107,545 | -€275,320 | -71.9% |
| Other amounts receivable | 41 | €164,662 | €193,208 | +€28,546 | +17.3% |
| Cash at bank and in hand | 54/58 | €3,694 | €4,626 | +€933 | +25.2% |
| Deferred charges and accrued income | 490/1 | €4,113 | €10,852 | +€6,739 | +164% |
| Total equity and liabilities | 10/49 | €1,008,516 | €769,717 | -€238,799 | -23.7% |
| Equity | 10/15 | €205,340 | €155,472 | -€49,869 | -24.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €143,340 | €143,340 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,694 | €6,694 | = | 0.0% |
| Legal reserve | 130 | €6,694 | €6,694 | = | 0.0% |
| Distributable reserves | 133 | €136,646 | €136,646 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€49,869 | -€49,869 | |
| Amounts payable | 17/49 | €803,176 | €614,245 | -€188,931 | -23.5% |
| Amounts payable after more than one year | 17 | €416,761 | €404,792 | -€11,969 | -2.9% |
| Financial debts | 170/4 | €416,761 | €404,792 | -€11,969 | -2.9% |
| Amounts payable within one year | 42/48 | €386,415 | €209,453 | -€176,962 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €71,116 | €76,514 | +€5,398 | +7.6% |
| Trade debts | 44 | €288,667 | €99,205 | -€189,462 | -65.6% |
| Suppliers | 440/4 | €288,667 | €99,205 | -€189,462 | -65.6% |
| Taxes, remuneration and social security | 45 | €26,632 | €33,734 | +€7,102 | +26.7% |
| Taxes | 450/3 | €26,632 | €33,734 | +€7,102 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,521 | €32,807 | -€3,714 | -10.2% |
| Other operating charges | 640/8 | €1,406 | €2,008 | +€602 | +42.8% |
| Gross operating margin | 9900 | €78,002 | -€1,732 | -€79,734 | |
| Operating profit (loss) | 9901 | €40,075 | -€36,547 | -€76,622 | |
| Financial income | 75/76B | €14,386 | €9,859 | -€4,527 | -31.5% |
| Recurring financial income | 75 | €14,386 | €9,859 | -€4,527 | -31.5% |
| Financial charges | 65/66B | €21,573 | €19,382 | -€2,191 | -10.2% |
| Recurring financial charges | 65 | €21,573 | €19,382 | -€2,191 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €32,887 | -€46,070 | -€78,958 | |
| Income taxes | 67/77 | €9,198 | €3,798 | -€5,400 | -58.7% |
| Profit (loss) for the period | 9904 | €23,689 | -€49,869 | -€73,558 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,689 | -€49,869 | -€73,558 |
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 23 October 2026 via checked.be.