V.D.K.M.: 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.M.
Largest movements
- Cash +€20,585
up €20,585 (+3,296%), from €625 to €21,210
mainly Net result for the year (+€25,522) and Depreciation (+€7,857)
- Receivables within one year +€15,277
up €15,277 (+6.1%), from €249,551 to €264,828
of which Other amounts receivable: +€16,125
- Tangible fixed assets -€6,836
down €6,836 (-10.8%), from €63,447 to €56,611
of which Land and buildings: -€5,618
- Reserves +€25,522
up €25,522 (+29.4%), from €86,769 to €112,292
of which Distributable reserves: +€25,522
- Tax, wage and social debts +€3,663
new in 2025: €3,663
- Gross operating margin +€18,690
up €18,690 (+67.6%), from €27,635 to €46,325
- Taxes +€4,920
up €4,920 (+131%), from €3,756 to €8,676
- Depreciation -€709
down €709 (-8.3%), from €8,566 to €7,857
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 | €314,370 | €343,376 | +€29,007 | +9.2% |
| Fixed assets | 21/28 | €63,447 | €56,611 | -€6,836 | -10.8% |
| Tangible fixed assets | 22/27 | €63,447 | €56,611 | -€6,836 | -10.8% |
| Land and buildings | 22 | €60,288 | €54,670 | -€5,618 | -9.3% |
| Plant, machinery and equipment | 23 | €3,159 | €1,942 | -€1,217 | -38.5% |
| Current assets | 29/58 | €250,923 | €286,765 | +€35,842 | +14.3% |
| Amounts receivable within one year | 40/41 | €249,551 | €264,828 | +€15,277 | +6.1% |
| Trade receivables | 40 | €848 | €0 | -€848 | -100% |
| Other amounts receivable | 41 | €248,703 | €264,828 | +€16,125 | +6.5% |
| Cash at bank and in hand | 54/58 | €625 | €21,210 | +€20,585 | +3,296% |
| Deferred charges and accrued income | 490/1 | €747 | €727 | -€20 | -2.6% |
| Total equity and liabilities | 10/49 | €314,370 | €343,376 | +€29,007 | +9.2% |
| Equity | 10/15 | €309,874 | €335,396 | +€25,522 | +8.2% |
| Contributions | 10/11 | €223,104 | €223,104 | = | 0.0% |
| Capital | 10 | €223,104 | €223,104 | = | 0.0% |
| Issued capital | 100 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €86,769 | €112,292 | +€25,522 | +29.4% |
| Non-distributable reserves | 130/1 | €22,310 | €22,310 | = | 0.0% |
| Legal reserve | 130 | €22,310 | €22,310 | = | 0.0% |
| Distributable reserves | 133 | €64,459 | €89,981 | +€25,522 | +39.6% |
| Amounts payable | 17/49 | €4,496 | €7,980 | +€3,484 | +77.5% |
| Amounts payable within one year | 42/48 | €2,047 | €5,358 | +€3,311 | +162% |
| Financial debts | 43 | €2,047 | €1,695 | -€353 | -17.2% |
| Credit institutions | 430/8 | €2,047 | €1,695 | -€353 | -17.2% |
| Taxes, remuneration and social security | 45 | - | €3,663 | +€3,663 | |
| Taxes | 450/3 | - | €3,663 | +€3,663 | |
| Accrued charges and deferred income | 492/3 | €2,449 | €2,622 | +€174 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,566 | €7,857 | -€709 | -8.3% |
| Other operating charges | 640/8 | €4,041 | €4,167 | +€125 | +3.1% |
| Gross operating margin | 9900 | €27,635 | €46,325 | +€18,690 | +67.6% |
| Operating profit (loss) | 9901 | €15,028 | €34,301 | +€19,273 | +128% |
| Financial income | 75/76B | €143 | €41 | -€101 | -71.1% |
| Recurring financial income | 75 | €143 | €41 | -€101 | -71.1% |
| Financial charges | 65/66B | €147 | €145 | -€2 | -1.4% |
| Recurring financial charges | 65 | €147 | €145 | -€2 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €15,024 | €34,198 | +€19,174 | +128% |
| Income taxes | 67/77 | €3,756 | €8,676 | +€4,920 | +131% |
| Profit (loss) for the period | 9904 | €11,268 | €25,522 | +€14,254 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €11,268 | €25,522 | +€14,254 | +127% |
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.