V.D.S. & Co: 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.S. & Co
Largest movements
- Receivables within one year +€197,405
up €197,405 (+157%), from €125,508 to €322,913
of which Other amounts receivable: +€318,832
- Tangible fixed assets -€103,304
down €103,304 (-3.9%), from €2.6m to €2.5m
of which Land and buildings: -€99,915
- Reserves +€273,538
up €273,538 (+14.3%), from €1.9m to €2.2m
of which Distributable reserves: +€273,538
- Debts after one year -€125,254
down €125,254 (-12.0%), from €1.0m to €918,854
- Financial income +€155,058
up €155,058 (+363,816%), from €43 to €155,101
- Gross operating margin -€49,756
down €49,756 (-13.1%), from €380,405 to €330,650
- Taxes -€16,050
down €16,050 (-25.2%), from €63,567 to €47,516
- Financial charges +€14,676
up €14,676 (+60.1%), from €24,423 to €39,099
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 | €3,216,763 | €3,325,482 | +€108,720 | +3.4% |
| Fixed assets | 21/28 | €3,012,819 | €2,909,515 | -€103,304 | -3.4% |
| Tangible fixed assets | 22/27 | €2,640,979 | €2,537,675 | -€103,304 | -3.9% |
| Land and buildings | 22 | €2,599,996 | €2,500,081 | -€99,915 | -3.8% |
| Plant, machinery and equipment | 23 | €40,983 | €37,594 | -€3,389 | -8.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €371,840 | €371,840 | = | 0.0% |
| Current assets | 29/58 | €203,943 | €415,967 | +€212,024 | +104% |
| Amounts receivable within one year | 40/41 | €125,508 | €322,913 | +€197,405 | +157% |
| Trade receivables | 40 | €125,508 | €4,081 | -€121,427 | -96.7% |
| Other amounts receivable | 41 | €0 | €318,832 | +€318,832 | |
| Cash at bank and in hand | 54/58 | €69,418 | €76,390 | +€6,972 | +10.0% |
| Deferred charges and accrued income | 490/1 | €9,018 | €16,665 | +€7,647 | +84.8% |
| Total equity and liabilities | 10/49 | €3,216,763 | €3,325,482 | +€108,720 | +3.4% |
| Equity | 10/15 | €1,934,821 | €2,208,359 | +€273,538 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,916,221 | €2,189,759 | +€273,538 | +14.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,916,221 | €2,189,759 | +€273,538 | +14.3% |
| Amounts payable | 17/49 | €1,281,942 | €1,117,123 | -€164,819 | -12.9% |
| Amounts payable after more than one year | 17 | €1,044,108 | €918,854 | -€125,254 | -12.0% |
| Financial debts | 170/4 | €1,044,108 | €918,854 | -€125,254 | -12.0% |
| Amounts payable within one year | 42/48 | €237,661 | €198,097 | -€39,564 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €144,446 | €125,254 | -€19,192 | -13.3% |
| Trade debts | 44 | €15,092 | €5,510 | -€9,582 | -63.5% |
| Suppliers | 440/4 | €15,092 | €5,510 | -€9,582 | -63.5% |
| Advances received on contracts in progress | 46 | €55,000 | €55,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,118 | €10,598 | -€10,520 | -49.8% |
| Taxes | 450/3 | €21,118 | €10,598 | -€10,520 | -49.8% |
| Other amounts payable | 47/48 | €2,005 | €1,734 | -€271 | -13.5% |
| Accrued charges and deferred income | 492/3 | €173 | €173 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,480 | €110,521 | +€41 | 0.0% |
| Other operating charges | 640/8 | €14,621 | €15,076 | +€455 | +3.1% |
| Gross operating margin | 9900 | €380,405 | €330,650 | -€49,756 | -13.1% |
| Operating profit (loss) | 9901 | €255,304 | €205,053 | -€50,252 | -19.7% |
| Financial income | 75/76B | €43 | €155,101 | +€155,058 | +363,816% |
| Recurring financial income | 75 | €43 | €155,101 | +€155,058 | +363,816% |
| Financial charges | 65/66B | €24,423 | €39,099 | +€14,676 | +60.1% |
| Recurring financial charges | 65 | €24,423 | €39,099 | +€14,676 | +60.1% |
| Profit (loss) for the period before taxes | 9903 | €230,924 | €321,055 | +€90,131 | +39.0% |
| Income taxes | 67/77 | €63,567 | €47,516 | -€16,050 | -25.2% |
| Profit (loss) for the period | 9904 | €167,358 | €273,538 | +€106,181 | +63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €167,358 | €273,538 | +€106,181 | +63.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.