V.D.V. TRANS: 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.V. TRANS
Largest movements
- Tangible fixed assets -€85,240
down €85,240 (-2.9%), from €2.9m to €2.8m
of which Land and buildings: -€85,419
- Reserves -€60,189
down €60,189 (-2.6%), from €2.4m to €2.3m
of which Tax-exempt reserves: -€60,189
- Profit (loss) carried forward +€50,140
up €50,140 (+25.4%), from -€197,567 to -€147,427
- Debts after one year -€40,000
down €40,000 (-16.7%), from €240,000 to €200,000
- Gross operating margin +€15,315
up €15,315 (+20.1%), from €76,114 to €91,429
- Financial charges +€2,266
up €2,266 (+43.4%), from €5,220 to €7,486
- Depreciation -€1,327
down €1,327 (-1.5%), from €87,594 to €86,267
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 | €2,953,680 | €2,904,285 | -€49,394 | -1.7% |
| Fixed assets | 21/28 | €2,895,413 | €2,810,173 | -€85,240 | -2.9% |
| Tangible fixed assets | 22/27 | €2,895,413 | €2,810,173 | -€85,240 | -2.9% |
| Land and buildings | 22 | €2,892,528 | €2,807,108 | -€85,419 | -3.0% |
| Furniture and vehicles | 24 | €2,885 | €3,064 | +€179 | +6.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €58,267 | €94,113 | +€35,846 | +61.5% |
| Amounts receivable within one year | 40/41 | - | €12,000 | +€12,000 | |
| Trade receivables | 40 | - | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €53,382 | €79,349 | +€25,967 | +48.6% |
| Deferred charges and accrued income | 490/1 | €4,885 | €2,764 | -€2,121 | -43.4% |
| Total equity and liabilities | 10/49 | €2,953,680 | €2,904,285 | -€49,394 | -1.7% |
| Equity | 10/15 | €2,180,079 | €2,170,031 | -€10,048 | -0.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,357,646 | €2,297,458 | -€60,189 | -2.6% |
| Tax-exempt reserves | 132 | €2,008,916 | €1,948,727 | -€60,189 | -3.0% |
| Distributable reserves | 133 | €348,731 | €348,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,567 | -€147,427 | +€50,140 | +25.4% |
| Amounts payable | 17/49 | €773,600 | €734,254 | -€39,346 | -5.1% |
| Amounts payable after more than one year | 17 | €240,000 | €200,000 | -€40,000 | -16.7% |
| Financial debts | 170/4 | €240,000 | €200,000 | -€40,000 | -16.7% |
| Amounts payable within one year | 42/48 | €527,850 | €529,504 | +€1,654 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €5,329 | €3,188 | -€2,141 | -40.2% |
| Suppliers | 440/4 | €5,329 | €3,188 | -€2,141 | -40.2% |
| Taxes, remuneration and social security | 45 | €495 | €503 | +€7 | +1.5% |
| Taxes | 450/3 | €495 | €503 | +€7 | +1.5% |
| Other amounts payable | 47/48 | €482,026 | €485,813 | +€3,787 | +0.8% |
| Accrued charges and deferred income | 492/3 | €5,750 | €4,750 | -€1,000 | -17.4% |
| Non-recurring operating income | 76A | €0 | €12,000 | +€12,000 | |
| Remuneration, social security and pensions | 62 | €355 | €269 | -€87 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,594 | €86,267 | -€1,327 | -1.5% |
| Other operating charges | 640/8 | €6,565 | €6,952 | +€387 | +5.9% |
| Gross operating margin | 9900 | €76,114 | €91,429 | +€15,315 | +20.1% |
| Operating profit (loss) | 9901 | -€18,400 | -€2,059 | +€16,341 | +88.8% |
| Financial charges | 65/66B | €5,220 | €7,486 | +€2,266 | +43.4% |
| Recurring financial charges | 65 | €5,220 | €7,486 | +€2,266 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,620 | -€9,546 | +€14,075 | +59.6% |
| Income taxes | 67/77 | €495 | €503 | +€7 | +1.5% |
| Profit (loss) for the period | 9904 | -€24,116 | -€10,048 | +€14,067 | +58.3% |
| Transfer from tax-exempt reserves | 789 | €60,189 | €60,189 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,073 | €50,140 | +€14,067 | +39.0% |
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 13 October 2026 via checked.be.