V.D.-Q-: 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.-Q-
Largest movements
- Tangible fixed assets -€3,505
down €3,505 (-24.4%), from €14,356 to €10,850
of which Furniture and vehicles: -€2,949
- Receivables within one year +€2,224
up €2,224 (+3.5%), from €62,854 to €65,078
of which Other amounts receivable: +€15,025
- Reserves -€8,215
down €8,215 (-12.7%), from €64,748 to €56,532
of which Distributable reserves: -€8,215
- Other debts +€7,957
up €7,957 (+1,042%), from €764 to €8,721
- Gross operating margin -€37,716
down €37,716, from €33,707 to -€4,009
- Depreciation +€1,609
up €1,609 (+84.9%), from €1,896 to €3,505
- Financial charges -€831
down €831 (-88.9%), from €935 to €104
- Other operating charges -€482
down €482 (-44.6%), from €1,081 to €598
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 | €77,622 | €77,109 | -€513 | -0.7% |
| Fixed assets | 21/28 | €14,356 | €10,850 | -€3,505 | -24.4% |
| Tangible fixed assets | 22/27 | €14,356 | €10,850 | -€3,505 | -24.4% |
| Plant, machinery and equipment | 23 | €1,654 | €1,098 | -€556 | -33.6% |
| Furniture and vehicles | 24 | €12,701 | €9,752 | -€2,949 | -23.2% |
| Current assets | 29/58 | €63,266 | €66,258 | +€2,992 | +4.7% |
| Amounts receivable within one year | 40/41 | €62,854 | €65,078 | +€2,224 | +3.5% |
| Trade receivables | 40 | €12,970 | €169 | -€12,801 | -98.7% |
| Other amounts receivable | 41 | €49,884 | €64,910 | +€15,025 | +30.1% |
| Cash at bank and in hand | 54/58 | €412 | €1,180 | +€768 | +186% |
| Total equity and liabilities | 10/49 | €77,622 | €77,109 | -€513 | -0.7% |
| Equity | 10/15 | €70,948 | €62,732 | -€8,215 | -11.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €64,748 | €56,532 | -€8,215 | -12.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €62,888 | €54,672 | -€8,215 | -13.1% |
| Amounts payable | 17/49 | €6,674 | €14,376 | +€7,702 | +115% |
| Amounts payable within one year | 42/48 | €6,674 | €14,376 | +€7,702 | +115% |
| Trade debts | 44 | €5,910 | €5,655 | -€255 | -4.3% |
| Suppliers | 440/4 | €5,910 | €5,655 | -€255 | -4.3% |
| Other amounts payable | 47/48 | €764 | €8,721 | +€7,957 | +1,042% |
| Non-recurring operating income | 76A | €34,581 | - | -€34,581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,896 | €3,505 | +€1,609 | +84.9% |
| Other operating charges | 640/8 | €1,081 | €598 | -€482 | -44.6% |
| Gross operating margin | 9900 | €33,707 | -€4,009 | -€37,716 | |
| Operating profit (loss) | 9901 | €30,731 | -€8,113 | -€38,843 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +5,250% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5,250% |
| Financial charges | 65/66B | €935 | €104 | -€831 | -88.9% |
| Recurring financial charges | 65 | €935 | €104 | -€831 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €29,796 | -€8,215 | -€38,011 | |
| Profit (loss) for the period | 9904 | €29,796 | -€8,215 | -€38,011 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,796 | -€8,215 | -€38,011 |
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 22 October 2026 via checked.be.