V & D TECHNIEK: 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 TECHNIEK
Largest movements
- Cash +€211,705
up €211,705 (+219%), from €96,751 to €308,456
mainly Net result for the year (+€156,943) and Trade debts (+€131,131)
- Tangible fixed assets -€48,077
down €48,077 (-15.1%), from €318,320 to €270,243
of which Furniture and vehicles: -€53,599
- Stocks and contracts +€27,900
up €27,900 (+5.4%), from €515,981 to €543,881
- Receivables within one year -€19,638
down €19,638 (-5.0%), from €391,878 to €372,240
of which Other amounts receivable: -€10,818
- Trade debts +€131,131
up €131,131 (+89.3%), from €146,918 to €278,049
- Other debts +€92,222
up €92,222 (+21.0%), from €438,175 to €530,397
- Reserves +€56,943
up €56,943 (+11.6%), from €492,891 to €549,835
of which Distributable reserves: +€58,102
- Current portion of long-term debt -€41,828
down €41,828 (-51.6%), from €81,077 to €39,248
- Debts after one year -€39,248
down €39,248 (-45.2%), from €86,754 to €47,505
- Gross operating margin +€16,497
up €16,497 (+4.4%), from €376,049 to €392,546
- Depreciation -€14,936
down €14,936 (-25.9%), from €57,641 to €42,706
- Staff costs +€11,157
up €11,157 (+11.4%), from €97,685 to €108,843
- Financial charges -€5,062
down €5,062 (-23.3%), from €21,747 to €16,685
of which Financial charges: -€6,449
- Taxes +€4,328
up €4,328 (+7.8%), from €55,628 to €59,956
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 | €1,333,428 | €1,505,956 | +€172,528 | +12.9% |
| Fixed assets | 21/28 | €318,603 | €270,526 | -€48,077 | -15.1% |
| Tangible fixed assets | 22/27 | €318,320 | €270,243 | -€48,077 | -15.1% |
| Land and buildings | 22 | €143,602 | €125,396 | -€18,207 | -12.7% |
| Plant, machinery and equipment | 23 | €102,361 | €126,090 | +€23,729 | +23.2% |
| Furniture and vehicles | 24 | €72,356 | €18,757 | -€53,599 | -74.1% |
| Financial fixed assets | 28 | €283 | €283 | = | 0.0% |
| Current assets | 29/58 | €1,014,825 | €1,235,430 | +€220,605 | +21.7% |
| Stocks and contracts in progress | 3 | €515,981 | €543,881 | +€27,900 | +5.4% |
| Stocks | 30/36 | €515,981 | €543,881 | +€27,900 | +5.4% |
| Amounts receivable within one year | 40/41 | €391,878 | €372,240 | -€19,638 | -5.0% |
| Trade receivables | 40 | €351,664 | €342,844 | -€8,820 | -2.5% |
| Other amounts receivable | 41 | €40,214 | €29,396 | -€10,818 | -26.9% |
| Cash at bank and in hand | 54/58 | €96,751 | €308,456 | +€211,705 | +219% |
| Deferred charges and accrued income | 490/1 | €10,215 | €10,853 | +€638 | +6.2% |
| Total equity and liabilities | 10/49 | €1,333,428 | €1,505,956 | +€172,528 | +12.9% |
| Equity | 10/15 | €511,491 | €568,435 | +€56,943 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €492,891 | €549,835 | +€56,943 | +11.6% |
| Tax-exempt reserves | 132 | €1,158 | - | -€1,158 | |
| Distributable reserves | 133 | €491,733 | €549,835 | +€58,102 | +11.8% |
| Provisions and deferred taxes | 16 | €386 | - | -€386 | |
| Deferred taxes | 168 | €386 | - | -€386 | |
| Amounts payable | 17/49 | €821,551 | €937,522 | +€115,971 | +14.1% |
| Amounts payable after more than one year | 17 | €86,754 | €47,505 | -€39,248 | -45.2% |
| Financial debts | 170/4 | €86,754 | €47,505 | -€39,248 | -45.2% |
| Amounts payable within one year | 42/48 | €734,689 | €889,700 | +€155,011 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €81,077 | €39,248 | -€41,828 | -51.6% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Other loans | 439 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €146,918 | €278,049 | +€131,131 | +89.3% |
| Suppliers | 440/4 | €146,918 | €278,049 | +€131,131 | +89.3% |
| Advances received on contracts in progress | 46 | €8,530 | - | -€8,530 | |
| Taxes, remuneration and social security | 45 | €19,988 | €2,005 | -€17,983 | -90.0% |
| Taxes | 450/3 | €19,988 | €2,005 | -€17,983 | -90.0% |
| Other amounts payable | 47/48 | €438,175 | €530,397 | +€92,222 | +21.0% |
| Accrued charges and deferred income | 492/3 | €108 | €316 | +€208 | +193% |
| Non-recurring operating income | 76A | - | €10,877 | +€10,877 | |
| Remuneration, social security and pensions | 62 | €97,685 | €108,843 | +€11,157 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,641 | €42,706 | -€14,936 | -25.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,368 | - | -€1,368 | |
| Other operating charges | 640/8 | €3,324 | €3,264 | -€60 | -1.8% |
| Non-recurring operating charges | 66A | €1,023 | €11,435 | +€10,413 | +1,018% |
| Gross operating margin | 9900 | €376,049 | €392,546 | +€16,497 | +4.4% |
| Operating profit (loss) | 9901 | €215,008 | €226,298 | +€11,290 | +5.3% |
| Financial income | 75/76B | €8,586 | €6,901 | -€1,686 | -19.6% |
| Recurring financial income | 75 | €8,586 | €6,901 | -€1,686 | -19.6% |
| Financial charges | 65/66B | €21,747 | €16,685 | -€5,062 | -23.3% |
| Recurring financial charges | 65 | €21,747 | €15,297 | -€6,449 | -29.7% |
| Non-recurring financial charges | 66B | - | €1,388 | +€1,388 | |
| Profit (loss) for the period before taxes | 9903 | €201,848 | €216,514 | +€14,666 | +7.3% |
| Transfer from deferred taxes | 780 | €450 | €386 | -€64 | -14.2% |
| Income taxes | 67/77 | €55,628 | €59,956 | +€4,328 | +7.8% |
| Profit (loss) for the period | 9904 | €146,669 | €156,943 | +€10,274 | +7.0% |
| Transfer from tax-exempt reserves | 789 | €1,350 | €1,158 | -€192 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €148,019 | €158,102 | +€10,082 | +6.8% |
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 17 October 2026 via checked.be.