V.D.M. OVERSEAS: 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.M. OVERSEAS
Largest movements
- Cash -€4,454
down €4,454 (-48.9%), from €9,105 to €4,650
mainly Trade debts (-€17,397) and Net result for the year (-€7,857)
- Tangible fixed assets -€3,225
down €3,225 (-3.8%), from €84,695 to €81,471
of which Land and buildings: -€4,331
- Other debts +€24,716
up €24,716 (+10.9%), from €227,587 to €252,303
- Trade debts -€17,397
down €17,397 (-71.0%), from €24,493 to €7,096
- Profit (loss) carried forward -€7,857
down €7,857 (-4.6%), from -€172,550 to -€180,407
- Debts after one year -€7,025
down €7,025 (-14.7%), from €47,673 to €40,648
- Gross operating margin -€11,214
down €11,214 (-58.7%), from €19,090 to €7,875
- Other operating charges +€2,364
up €2,364 (+86.6%), from €2,730 to €5,095
- Depreciation +€1,708
up €1,708 (+26.3%), from €6,488 to €8,196
- Financial charges -€784
down €784 (-25.1%), from €3,121 to €2,337
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 | €159,918 | €152,543 | -€7,375 | -4.6% |
| Fixed assets | 21/28 | €84,695 | €81,471 | -€3,225 | -3.8% |
| Tangible fixed assets | 22/27 | €84,695 | €81,471 | -€3,225 | -3.8% |
| Land and buildings | 22 | €67,822 | €63,491 | -€4,331 | -6.4% |
| Plant, machinery and equipment | 23 | €12,581 | €15,956 | +€3,376 | +26.8% |
| Furniture and vehicles | 24 | €4,293 | €2,023 | -€2,270 | -52.9% |
| Current assets | 29/58 | €75,222 | €71,072 | -€4,150 | -5.5% |
| Stocks and contracts in progress | 3 | €43,860 | €43,450 | -€410 | -0.9% |
| Stocks | 30/36 | €43,860 | €43,450 | -€410 | -0.9% |
| Amounts receivable within one year | 40/41 | €22,258 | €22,972 | +€714 | +3.2% |
| Trade receivables | 40 | €21,439 | €21,439 | = | 0.0% |
| Other amounts receivable | 41 | €819 | €1,533 | +€714 | +87.2% |
| Cash at bank and in hand | 54/58 | €9,105 | €4,650 | -€4,454 | -48.9% |
| Total equity and liabilities | 10/49 | €159,918 | €152,543 | -€7,375 | -4.6% |
| Equity | 10/15 | -€147,571 | -€155,428 | -€7,857 | -5.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Capital | 10 | €24,789 | €24,789 | = | 0.0% |
| Issued capital | 100 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €190 | €190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €190 | €190 | = | 0.0% |
| Legal reserve | 130 | €190 | €190 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,550 | -€180,407 | -€7,857 | -4.6% |
| Amounts payable | 17/49 | €307,489 | €307,971 | +€482 | +0.2% |
| Amounts payable after more than one year | 17 | €47,673 | €40,648 | -€7,025 | -14.7% |
| Financial debts | 170/4 | €47,673 | €40,648 | -€7,025 | -14.7% |
| Amounts payable within one year | 42/48 | €259,816 | €267,323 | +€7,507 | +2.9% |
| Financial debts | 43 | €5,535 | €5,982 | +€447 | +8.1% |
| Credit institutions | 430/8 | €5,535 | €5,982 | +€447 | +8.1% |
| Trade debts | 44 | €24,493 | €7,096 | -€17,397 | -71.0% |
| Suppliers | 440/4 | €24,493 | €7,096 | -€17,397 | -71.0% |
| Taxes, remuneration and social security | 45 | €2,202 | €1,942 | -€259 | -11.8% |
| Taxes | 450/3 | €2,202 | €1,942 | -€259 | -11.8% |
| Other amounts payable | 47/48 | €227,587 | €252,303 | +€24,716 | +10.9% |
| Non-recurring operating income | 76A | €19,981 | - | -€19,981 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,488 | €8,196 | +€1,708 | +26.3% |
| Other operating charges | 640/8 | €2,730 | €5,095 | +€2,364 | +86.6% |
| Gross operating margin | 9900 | €19,090 | €7,875 | -€11,214 | -58.7% |
| Operating profit (loss) | 9901 | €9,872 | -€5,415 | -€15,287 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €3,121 | €2,337 | -€784 | -25.1% |
| Recurring financial charges | 65 | €3,121 | €2,337 | -€784 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €6,751 | -€7,752 | -€14,503 | |
| Income taxes | 67/77 | €103 | €105 | +€2 | +2.1% |
| Profit (loss) for the period | 9904 | €6,648 | -€7,857 | -€14,505 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,648 | -€7,857 | -€14,505 |
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 28 October 2026 via checked.be.