V.D.S.-MEAT: 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.
What changed
V.D.S.-MEAT
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€77,232
2024 · €22,208+€55,024
Equity
€862,184
2024 · €784,952+€77,232
Cash
€63,422
2024 · €60,486+€2,936
Balance sheet total
€1.8m
2024 · €1.9m-€129,302
Largest movements
Assets
- Tangible fixed assets -€93,890
down €93,890 (-7.2%), from €1.3m to €1.2m
of which Land and buildings: -€60,607
- Receivables within one year -€21,942
down €21,942 (-6.8%), from €322,442 to €300,500
of which Trade receivables: -€20,245
Equity and liabilities
- Trade debts -€162,163
down €162,163 (-33.3%), from €486,686 to €324,523
- Debts after one year -€91,418
down €91,418 (-18.6%), from €492,293 to €400,876
- Profit (loss) carried forward +€77,232
up €77,232 (+47.5%), from €162,476 to €239,708
- Short-term financial debts +€49,539
up €49,539 (+98.4%), from €50,361 to €99,900
Income statement
- Gross operating margin +€69,828
up €69,828 (+19.7%), from €353,869 to €423,697
- Depreciation +€16,989
up €16,989 (+14.2%), from €119,744 to €136,733
- Taxes +€12,678
up €12,678 (+52.9%), from €23,967 to €36,645
- Financial charges -€11,491
down €11,491 (-22.3%), from €51,570 to €40,079
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
€22,208
Gross operating margin
+€69,828
Staff costs
+€1,595
Depreciation
-€16,989
Other operating charges
+€1,759
Financial income
+€19
Financial charges
+€11,491
Taxes
-€12,678
Result 2025
€77,232
raises the resultlowers the result
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.
From operations
+€76,484
Investment
-€42,842
Financing
-€30,705
Cash 2024
€60,486
From operations (derived)
+€76,484
Net result for the year
+€77,232
Depreciation
+€136,733
Stocks and contracts
+€16,406
Receivables within one year
+€21,942
Trade debts
-€162,163
Tax, wage and social debts
-€10,309
Other debts
-€3,356
Investment (derived)
-€42,842
Investment in fixed assets (net)
-€42,842
Financing
-€30,705
Debts after one year
-€91,418
Current portion of long-term debt
+€11,173
Short-term financial debts
+€49,539
Cash 2025
€63,422
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,932,328 | €1,803,026 | -€129,302 | -6.7% |
| Fixed assets | 21/28 | €1,321,674 | €1,227,784 | -€93,890 | -7.1% |
| Tangible fixed assets | 22/27 | €1,309,174 | €1,215,284 | -€93,890 | -7.2% |
| Land and buildings | 22 | €1,135,852 | €1,075,245 | -€60,607 | -5.3% |
| Plant, machinery and equipment | 23 | €115,560 | €112,052 | -€3,508 | -3.0% |
| Furniture and vehicles | 24 | €57,762 | €27,987 | -€29,775 | -51.5% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €610,654 | €575,242 | -€35,411 | -5.8% |
| Stocks and contracts in progress | 3 | €227,326 | €210,921 | -€16,406 | -7.2% |
| Stocks | 30/36 | €227,326 | €210,921 | -€16,406 | -7.2% |
| Amounts receivable within one year | 40/41 | €322,442 | €300,500 | -€21,942 | -6.8% |
| Trade receivables | 40 | €314,654 | €294,409 | -€20,245 | -6.4% |
| Other amounts receivable | 41 | €7,787 | €6,090 | -€1,697 | -21.8% |
| Cash at bank and in hand | 54/58 | €60,486 | €63,422 | +€2,936 | +4.9% |
| Deferred charges and accrued income | 490/1 | €400 | €400 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,932,328 | €1,803,026 | -€129,302 | -6.7% |
| Equity | 10/15 | €784,952 | €862,184 | +€77,232 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €3,877 | €3,877 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,017 | €2,017 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,476 | €239,708 | +€77,232 | +47.5% |
| Amounts payable | 17/49 | €1,147,376 | €940,842 | -€206,534 | -18.0% |
| Amounts payable after more than one year | 17 | €492,293 | €400,876 | -€91,418 | -18.6% |
| Financial debts | 170/4 | €311,539 | €273,347 | -€38,192 | -12.3% |
| Trade debts | 175 | €54,430 | €14,455 | -€39,976 | -73.4% |
| Other amounts payable | 178/9 | €126,323 | €113,073 | -€13,250 | -10.5% |
| Amounts payable within one year | 42/48 | €655,083 | €539,966 | -€115,116 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €91,346 | €102,519 | +€11,173 | +12.2% |
| Financial debts | 43 | €50,361 | €99,900 | +€49,539 | +98.4% |
| Credit institutions | 430/8 | €50,361 | €99,900 | +€49,539 | +98.4% |
| Trade debts | 44 | €486,686 | €324,523 | -€162,163 | -33.3% |
| Suppliers | 440/4 | €486,686 | €324,523 | -€162,163 | -33.3% |
| Taxes, remuneration and social security | 45 | €14,726 | €4,417 | -€10,309 | -70.0% |
| Taxes | 450/3 | €1,755 | - | -€1,755 | |
| Remuneration and social security | 454/9 | €12,971 | €4,417 | -€8,554 | -65.9% |
| Other amounts payable | 47/48 | €11,964 | €8,608 | -€3,356 | -28.1% |
| Non-recurring operating income | 76A | - | €1,531 | +€1,531 | |
| Remuneration, social security and pensions | 62 | €108,346 | €106,751 | -€1,595 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,744 | €136,733 | +€16,989 | +14.2% |
| Other operating charges | 640/8 | €28,065 | €26,306 | -€1,759 | -6.3% |
| Gross operating margin | 9900 | €353,869 | €423,697 | +€69,828 | +19.7% |
| Operating profit (loss) | 9901 | €97,714 | €153,908 | +€56,193 | +57.5% |
| Financial income | 75/76B | €30 | €49 | +€19 | +62.1% |
| Recurring financial income | 75 | €30 | €49 | +€19 | +62.1% |
| Financial charges | 65/66B | €51,570 | €40,079 | -€11,491 | -22.3% |
| Recurring financial charges | 65 | €51,570 | €40,079 | -€11,491 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €46,174 | €113,877 | +€67,703 | +147% |
| Income taxes | 67/77 | €23,967 | €36,645 | +€12,678 | +52.9% |
| Profit (loss) for the period | 9904 | €22,208 | €77,232 | +€55,024 | +248% |
| Profit (loss) for the period to be appropriated | 9905 | €22,208 | €77,232 | +€55,024 | +248% |
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 27 October 2026 via checked.be.