V.D.P.: 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.
What changed
V.D.P.
NACE 46.231, Wholesale of live animals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€342,014
2024 · €273,706+€68,308
Equity
€2.5m
2024 · €2.1m+€342,014
Cash
€54,374
2024 · €34,786+€19,587
Balance sheet total
€5.1m
2024 · €4.6m+€447,681
Largest movements
Assets
- Tangible fixed assets +€409,592
up €409,592 (+12.1%), from €3.4m to €3.8m
of which Land and buildings: +€392,769
Equity and liabilities
- Reserves +€342,014
up €342,014 (+16.6%), from €2.1m to €2.4m
of which Distributable reserves: +€342,470
- Short-term financial debts +€212,577
up €212,577 (+1008.0%), from €21,088 to €233,666
- Trade debts -€51,969
down €51,969 (-2.4%), from €2.2m to €2.1m
Income statement
- Gross operating margin +€170,921
up €170,921 (+36.0%), from €474,798 to €645,719
- Depreciation +€56,290
up €56,290 (+81.6%), from €68,986 to €125,275
- Taxes +€24,925
up €24,925 (+21.6%), from €115,506 to €140,431
- Other operating charges +€18,877
up €18,877 (+166.6%), from €11,330 to €30,207
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.
Result 2024
€273,706
Gross operating margin
+€170,921
Depreciation
-€56,290
Other operating charges
-€18,877
Financial income
+€1,053
Financial charges
-€4,257
Taxes
-€24,925
Deferred taxes and other
+€682
Result 2025
€342,014
Cash bridge derived
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.
From operations
+€365,111
Investment
-€534,867
Financing
+€189,343
Cash 2024
€34,786
From operations (derived)
+€365,111
Net result for the year
+€342,014
Depreciation
+€125,275
Stocks and contracts
+€5,925
Receivables within one year
-€23,995
Deferred charges and accrued income
-€433
Provisions
-€1,365
Trade debts
-€51,969
Tax, wage and social debts
-€28,692
Other debts
-€1,650
Investment (derived)
-€534,867
Investment in fixed assets (net)
-€534,867
Financing
+€189,343
Debts after one year
-€24,161
Current portion of long-term debt
+€927
Short-term financial debts
+€212,577
Cash 2025
€54,374
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,605,577 | €5,053,258 | +€447,681 | +9.7% |
| Fixed assets | 21/28 | €3,374,975 | €3,784,567 | +€409,592 | +12.1% |
| Tangible fixed assets | 22/27 | €3,374,975 | €3,784,567 | +€409,592 | +12.1% |
| Land and buildings | 22 | €3,229,376 | €3,622,145 | +€392,769 | +12.2% |
| Plant, machinery and equipment | 23 | €13,287 | €7,556 | -€5,731 | -43.1% |
| Furniture and vehicles | 24 | €132,312 | €154,866 | +€22,554 | +17.0% |
| Current assets | 29/58 | €1,230,601 | €1,268,691 | +€38,090 | +3.1% |
| Stocks and contracts in progress | 3 | €258,610 | €252,685 | -€5,925 | -2.3% |
| Stocks | 30/36 | €258,610 | €252,685 | -€5,925 | -2.3% |
| Amounts receivable within one year | 40/41 | €934,241 | €958,236 | +€23,995 | +2.6% |
| Trade receivables | 40 | €742,269 | €845,377 | +€103,108 | +13.9% |
| Other amounts receivable | 41 | €191,972 | €112,859 | -€79,113 | -41.2% |
| Cash at bank and in hand | 54/58 | €34,786 | €54,374 | +€19,587 | +56.3% |
| Deferred charges and accrued income | 490/1 | €2,964 | €3,397 | +€433 | +14.6% |
| Total equity and liabilities | 10/49 | €4,605,577 | €5,053,258 | +€447,681 | +9.7% |
| Equity | 10/15 | €2,121,251 | €2,463,265 | +€342,014 | +16.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,059,251 | €2,401,265 | +€342,014 | +16.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €297,375 | €296,920 | -€456 | -0.2% |
| Distributable reserves | 133 | €1,755,675 | €2,098,145 | +€342,470 | +19.5% |
| Provisions and deferred taxes | 16 | €125,401 | €124,036 | -€1,365 | -1.1% |
| Deferred taxes | 168 | €125,401 | €124,036 | -€1,365 | -1.1% |
| Amounts payable | 17/49 | €2,358,925 | €2,465,957 | +€107,032 | +4.5% |
| Amounts payable after more than one year | 17 | €97,981 | €73,820 | -€24,161 | -24.7% |
| Financial debts | 170/4 | €97,981 | €73,820 | -€24,161 | -24.7% |
| Amounts payable within one year | 42/48 | €2,260,944 | €2,392,137 | +€131,193 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €23,234 | €24,161 | +€927 | +4.0% |
| Financial debts | 43 | €21,088 | €233,666 | +€212,577 | +1008.0% |
| Credit institutions | 430/8 | €21,088 | €233,666 | +€212,577 | +1008.0% |
| Trade debts | 44 | €2,161,190 | €2,109,221 | -€51,969 | -2.4% |
| Suppliers | 440/4 | €2,161,190 | €2,109,221 | -€51,969 | -2.4% |
| Taxes, remuneration and social security | 45 | €52,131 | €23,439 | -€28,692 | -55.0% |
| Taxes | 450/3 | €51,204 | €22,494 | -€28,709 | -56.1% |
| Remuneration and social security | 454/9 | €927 | €945 | +€18 | +1.9% |
| Other amounts payable | 47/48 | €3,300 | €1,650 | -€1,650 | -50.0% |
| Non-recurring operating income | 76A | €57,158 | €12,500 | -€44,658 | -78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,986 | €125,275 | +€56,290 | +81.6% |
| Other operating charges | 640/8 | €11,330 | €30,207 | +€18,877 | +166.6% |
| Gross operating margin | 9900 | €474,798 | €645,719 | +€170,921 | +36.0% |
| Operating profit (loss) | 9901 | €394,482 | €490,237 | +€95,755 | +24.3% |
| Financial income | 75/76B | €516 | €1,569 | +€1,053 | +204.2% |
| Recurring financial income | 75 | €516 | €1,569 | +€1,053 | +204.2% |
| Financial charges | 65/66B | €6,468 | €10,725 | +€4,257 | +65.8% |
| Recurring financial charges | 65 | €6,468 | €10,725 | +€4,257 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €388,529 | €481,081 | +€92,551 | +23.8% |
| Transfer from deferred taxes | 780 | €683 | €1,365 | +€682 | +99.9% |
| Income taxes | 67/77 | €115,506 | €140,431 | +€24,925 | +21.6% |
| Profit (loss) for the period | 9904 | €273,706 | €342,014 | +€68,308 | +25.0% |
| Transfer from tax-exempt reserves | 789 | €228 | €456 | +€228 | +100.3% |
| Profit (loss) for the period to be appropriated | 9905 | €273,934 | €342,470 | +€68,536 | +25.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.