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
- Tangible fixed assets -€27,013
down €27,013 (-7.4%), from €366,134 to €339,121
- Debts after one year +€60,354
up €60,354 (+5.0%), from €1.2m to €1.3m
of which Other amounts payable: +€124,728
- Current portion of long-term debt -€52,170
down €52,170 (-42.0%), from €124,124 to €71,954
- Profit (loss) carried forward -€23,562
down €23,562 (-3.9%), from €603,678 to €580,116
- Gross operating margin -€2,245
down €2,245 (-4.5%), from €50,219 to €47,974
- Financial charges +€1,950
up €1,950 (+7.6%), from €25,786 to €27,735
- Other operating charges -€995
down €995 (-5.9%), from €16,738 to €15,744
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 | €1,982,399 | €1,964,372 | -€18,027 | -0.9% |
| Fixed assets | 21/28 | €1,977,240 | €1,950,227 | -€27,013 | -1.4% |
| Tangible fixed assets | 22/27 | €366,134 | €339,121 | -€27,013 | -7.4% |
| Land and buildings | 22 | €366,134 | €339,121 | -€27,013 | -7.4% |
| Financial fixed assets | 28 | €1,611,106 | €1,611,106 | = | 0.0% |
| Current assets | 29/58 | €5,159 | €14,145 | +€8,986 | +174.2% |
| Amounts receivable within one year | 40/41 | - | €10,000 | +€10,000 | |
| Trade receivables | 40 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €4,093 | €2,672 | -€1,420 | -34.7% |
| Deferred charges and accrued income | 490/1 | €1,066 | €1,472 | +€407 | +38.1% |
| Total equity and liabilities | 10/49 | €1,982,399 | €1,964,372 | -€18,027 | -0.9% |
| Equity | 10/15 | €624,138 | €600,576 | -€23,562 | -3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €603,678 | €580,116 | -€23,562 | -3.9% |
| Amounts payable | 17/49 | €1,358,260 | €1,363,796 | +€5,536 | +0.4% |
| Amounts payable after more than one year | 17 | €1,197,852 | €1,258,206 | +€60,354 | +5.0% |
| Financial debts | 170/4 | €203,752 | €139,377 | -€64,375 | -31.6% |
| Other amounts payable | 178/9 | €994,100 | €1,118,829 | +€124,728 | +12.5% |
| Amounts payable within one year | 42/48 | €160,333 | €105,504 | -€54,829 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €124,124 | €71,954 | -€52,170 | -42.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €31,679 | €15,539 | -€16,140 | -50.9% |
| Suppliers | 440/4 | €31,679 | €15,539 | -€16,140 | -50.9% |
| Taxes, remuneration and social security | 45 | €0 | €13,481 | +€13,481 | |
| Taxes | 450/3 | €0 | €13,481 | +€13,481 | |
| Other amounts payable | 47/48 | €4,530 | €4,530 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €75 | €86 | +€11 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,013 | €27,013 | = | 0.0% |
| Other operating charges | 640/8 | €16,738 | €15,744 | -€995 | -5.9% |
| Non-recurring operating charges | 66A | - | €1,045 | +€1,045 | |
| Gross operating margin | 9900 | €50,219 | €47,974 | -€2,245 | -4.5% |
| Operating profit (loss) | 9901 | €6,468 | €4,173 | -€2,295 | -35.5% |
| Financial income | 75/76B | €44 | €0 | -€44 | -100.0% |
| Recurring financial income | 75 | €44 | €0 | -€44 | -100.0% |
| Financial charges | 65/66B | €25,786 | €27,735 | +€1,950 | +7.6% |
| Recurring financial charges | 65 | €25,786 | €27,735 | +€1,950 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,274 | -€23,562 | -€4,288 | -22.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€19,274 | -€23,562 | -€4,288 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,274 | -€23,562 | -€4,288 | -22.2% |
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 8 October 2026 via checked.be.