V.D. PLANT: 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. PLANT
Largest movements
- Receivables within one year +€76,520
up €76,520 (+53.4%), from €143,181 to €219,702
of which Trade receivables: +€66,989
- Tangible fixed assets -€57,107
down €57,107 (-9.5%), from €598,466 to €541,359
- Cash -€15,629
down €15,629 (-49.6%), from €31,526 to €15,897
mainly Receivables within one year (-€76,520) and Debts after one year (-€28,571)
- Receivables after one year +€9,850
up €9,850 (+22.3%), from €44,258 to €54,108
- Other debts +€32,623
up €32,623 (+25.1%), from €130,211 to €162,835
- Reserves +€31,820
up €31,820 (+6.3%), from €503,845 to €535,665
of which Distributable reserves: +€33,680
- Debts after one year -€28,571
down €28,571 (-34.3%), from €83,333 to €54,762
- Trade debts -€19,710
down €19,710 (-29.1%), from €67,716 to €48,007
- Gross operating margin -€40,542
down €40,542 (-18.2%), from €222,877 to €182,335
- Taxes -€18,067
down €18,067 (-54.0%), from €33,459 to €15,392
- Financial charges +€10,848
up €10,848 (+264%), from €4,108 to €14,956
- Staff costs +€6,414
up €6,414 (+16.2%), from €39,555 to €45,970
- Financial income +€4,928
up €4,928 (+837%), from €589 to €5,517
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 | €843,914 | €856,705 | +€12,791 | +1.5% |
| Fixed assets | 21/28 | €618,466 | €561,359 | -€57,107 | -9.2% |
| Tangible fixed assets | 22/27 | €598,466 | €541,359 | -€57,107 | -9.5% |
| Land and buildings | 22 | €425,483 | €400,567 | -€24,916 | -5.9% |
| Plant, machinery and equipment | 23 | €128,976 | €106,593 | -€22,383 | -17.4% |
| Furniture and vehicles | 24 | €44,007 | €34,199 | -€9,809 | -22.3% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €225,447 | €295,346 | +€69,898 | +31.0% |
| Amounts receivable after more than one year | 29 | €44,258 | €54,108 | +€9,850 | +22.3% |
| Other amounts receivable | 291 | €44,258 | €54,108 | +€9,850 | +22.3% |
| Amounts receivable within one year | 40/41 | €143,181 | €219,702 | +€76,520 | +53.4% |
| Trade receivables | 40 | €136,973 | €203,962 | +€66,989 | +48.9% |
| Other amounts receivable | 41 | €6,208 | €15,740 | +€9,532 | +154% |
| Cash at bank and in hand | 54/58 | €31,526 | €15,897 | -€15,629 | -49.6% |
| Deferred charges and accrued income | 490/1 | €6,482 | €5,639 | -€844 | -13.0% |
| Total equity and liabilities | 10/49 | €843,914 | €856,705 | +€12,791 | +1.5% |
| Equity | 10/15 | €522,445 | €554,265 | +€31,820 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €503,845 | €535,665 | +€31,820 | +6.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €501,985 | €535,665 | +€33,680 | +6.7% |
| Amounts payable | 17/49 | €321,468 | €302,440 | -€19,029 | -5.9% |
| Amounts payable after more than one year | 17 | €83,333 | €54,762 | -€28,571 | -34.3% |
| Financial debts | 170/4 | €83,333 | €54,762 | -€28,571 | -34.3% |
| Amounts payable within one year | 42/48 | €238,135 | €247,678 | +€9,543 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €28,571 | €28,571 | = | 0.0% |
| Trade debts | 44 | €67,716 | €48,007 | -€19,710 | -29.1% |
| Suppliers | 440/4 | €67,716 | €48,007 | -€19,710 | -29.1% |
| Taxes, remuneration and social security | 45 | €11,636 | €8,265 | -€3,371 | -29.0% |
| Taxes | 450/3 | €7,843 | €2,898 | -€4,944 | -63.0% |
| Remuneration and social security | 454/9 | €3,793 | €5,366 | +€1,573 | +41.5% |
| Other amounts payable | 47/48 | €130,211 | €162,835 | +€32,623 | +25.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €39,555 | €45,970 | +€6,414 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,296 | €74,523 | +€3,227 | +4.5% |
| Other operating charges | 640/8 | €6,582 | €5,192 | -€1,390 | -21.1% |
| Gross operating margin | 9900 | €222,877 | €182,335 | -€40,542 | -18.2% |
| Operating profit (loss) | 9901 | €105,444 | €56,650 | -€48,794 | -46.3% |
| Financial income | 75/76B | €589 | €5,517 | +€4,928 | +837% |
| Recurring financial income | 75 | €589 | €5,517 | +€4,928 | +837% |
| Financial charges | 65/66B | €4,108 | €14,956 | +€10,848 | +264% |
| Recurring financial charges | 65 | €4,108 | €14,956 | +€10,848 | +264% |
| Profit (loss) for the period before taxes | 9903 | €101,926 | €47,212 | -€54,714 | -53.7% |
| Income taxes | 67/77 | €33,459 | €15,392 | -€18,067 | -54.0% |
| Profit (loss) for the period | 9904 | €68,467 | €31,820 | -€36,647 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,467 | €31,820 | -€36,647 | -53.5% |
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 19 October 2026 via checked.be.