V.D.M.: 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.M.
Largest movements
- Cash +€233,402
up €233,402 (+36.5%), from €638,628 to €872,030
mainly Net result for the year (+€166,343) and Depreciation (+€162,990)
- Receivables within one year -€55,373
down €55,373 (-64.4%), from €86,014 to €30,641
of which Trade receivables: -€48,316
- Tangible fixed assets -€55,140
down €55,140 (-9.1%), from €608,876 to €553,736
of which Furniture and vehicles: -€52,157
- Reserves +€120,000
new in 2024: €120,000
- Profit (loss) carried forward +€46,343
up €46,343 (+4.2%), from €1.1m to €1.1m
- Debts after one year -€25,086
down €25,086 (-82.2%), from €30,521 to €5,435
- Trade debts -€22,968
down €22,968 (-50.1%), from €45,869 to €22,901
- Gross operating margin +€100,679
up €100,679 (+38.5%), from €261,649 to €362,328
- Depreciation +€25,549
up €25,549 (+18.6%), from €137,441 to €162,990
- Taxes -€12,469
down €12,469 (-32.2%), from €38,715 to €26,246
- Other operating charges -€5,225
down €5,225 (-34.6%), from €15,092 to €9,867
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,348,518 | €1,471,407 | +€122,889 | +9.1% |
| Fixed assets | 21/28 | €608,876 | €553,736 | -€55,140 | -9.1% |
| Tangible fixed assets | 22/27 | €608,876 | €553,736 | -€55,140 | -9.1% |
| Land and buildings | 22 | €141,294 | €121,731 | -€19,563 | -13.8% |
| Plant, machinery and equipment | 23 | €52,145 | €68,725 | +€16,580 | +31.8% |
| Furniture and vehicles | 24 | €415,437 | €363,280 | -€52,157 | -12.6% |
| Current assets | 29/58 | €739,642 | €917,671 | +€178,029 | +24.1% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,014 | €30,641 | -€55,373 | -64.4% |
| Trade receivables | 40 | €76,350 | €28,034 | -€48,316 | -63.3% |
| Other amounts receivable | 41 | €9,664 | €2,607 | -€7,057 | -73.0% |
| Cash at bank and in hand | 54/58 | €638,628 | €872,030 | +€233,402 | +36.5% |
| Total equity and liabilities | 10/49 | €1,348,518 | €1,471,407 | +€122,889 | +9.1% |
| Equity | 10/15 | €1,159,151 | €1,325,494 | +€166,343 | +14.4% |
| 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 | - | €120,000 | +€120,000 | |
| Tax-exempt reserves | 132 | - | €120,000 | +€120,000 | |
| Profit (loss) carried forward | 14 | €1,097,151 | €1,143,494 | +€46,343 | +4.2% |
| Amounts payable | 17/49 | €189,367 | €145,913 | -€43,454 | -22.9% |
| Amounts payable after more than one year | 17 | €30,521 | €5,435 | -€25,086 | -82.2% |
| Financial debts | 170/4 | €30,521 | €5,435 | -€25,086 | -82.2% |
| Amounts payable within one year | 42/48 | €158,846 | €140,478 | -€18,368 | -11.6% |
| Trade debts | 44 | €45,869 | €22,901 | -€22,968 | -50.1% |
| Suppliers | 440/4 | €45,869 | €22,901 | -€22,968 | -50.1% |
| Taxes, remuneration and social security | 45 | - | €4,600 | +€4,600 | |
| Taxes | 450/3 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €112,977 | €112,977 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,441 | €162,990 | +€25,549 | +18.6% |
| Other operating charges | 640/8 | €15,092 | €9,867 | -€5,225 | -34.6% |
| Gross operating margin | 9900 | €261,649 | €362,328 | +€100,679 | +38.5% |
| Operating profit (loss) | 9901 | €109,116 | €189,471 | +€80,355 | +73.6% |
| Financial income | 75/76B | €2,209 | €3,745 | +€1,536 | +69.5% |
| Recurring financial income | 75 | €2,209 | €3,543 | +€1,334 | +60.4% |
| Non-recurring financial income | 76B | - | €202 | +€202 | |
| Financial charges | 65/66B | €1,421 | €627 | -€794 | -55.9% |
| Recurring financial charges | 65 | €1,421 | €627 | -€794 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €109,904 | €192,589 | +€82,685 | +75.2% |
| Income taxes | 67/77 | €38,715 | €26,246 | -€12,469 | -32.2% |
| Profit (loss) for the period | 9904 | €71,189 | €166,343 | +€95,154 | +133.7% |
| Transfer from tax-exempt reserves | 789 | - | €30,000 | +€30,000 | |
| Transfer to tax-exempt reserves | 689 | - | €150,000 | +€150,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €71,189 | €46,343 | -€24,846 | -34.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.