VBDN: what changed
Two fiscal 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.
VBDN
Largest movements
- Receivables within one year -€24,010
down €24,010 (-88.8%), from €27,024 to €3,013
of which Other amounts receivable: -€24,937
- Tangible fixed assets +€11,601
new in 2025: €11,601
of which Furniture and vehicles: +€8,760
- Financial fixed assets +€6,655
new in 2025: €6,655
- Stocks and contracts +€5,100
new in 2025: €5,100
- Cash -€2,040
down €2,040 (-70.6%), from €2,888 to €848
mainly Investment in fixed assets (net) (-€19,129) and Net result for the year (-€8,292)
- Profit (loss) carried forward -€8,292
down €8,292 (-774.3%), from -€1,071 to -€9,363
- Other debts +€6,006
new in 2025: €6,006
- Trade debts -€2,279
no longer reported in 2025 (was €2,279)
- Tax, wage and social debts +€574
new in 2025: €574
- Gross operating margin -€6,013
down €6,013 (-9529.2%), from -€63 to -€6,076
- Depreciation +€1,176
up €1,176 (+118.5%), from €993 to €2,169
- Financial income +€117
new in 2025: €117
- Other operating charges +€101
new in 2025: €101
- Purchases and services -€63
no longer reported in 2025 (was €63)
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.
Cash bridge derived
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 | €31,208 | €27,217 | -€3,990 | -12.8% |
| Formation expenses | 20 | €1,296 | - | -€1,296 | |
| Fixed assets | 21/28 | - | €18,256 | +€18,256 | |
| Tangible fixed assets | 22/27 | - | €11,601 | +€11,601 | |
| Plant, machinery and equipment | 23 | - | €2,841 | +€2,841 | |
| Furniture and vehicles | 24 | - | €8,760 | +€8,760 | |
| Financial fixed assets | 28 | - | €6,655 | +€6,655 | |
| Current assets | 29/58 | €29,911 | €8,961 | -€20,950 | -70.0% |
| Stocks and contracts in progress | 3 | - | €5,100 | +€5,100 | |
| Stocks | 30/36 | - | €5,100 | +€5,100 | |
| Amounts receivable within one year | 40/41 | €27,024 | €3,013 | -€24,010 | -88.8% |
| Trade receivables | 40 | - | €927 | +€927 | |
| Other amounts receivable | 41 | €27,024 | €2,087 | -€24,937 | -92.3% |
| Cash at bank and in hand | 54/58 | €2,888 | €848 | -€2,040 | -70.6% |
| Total equity and liabilities | 10/49 | €31,208 | €27,217 | -€3,990 | -12.8% |
| Equity | 10/15 | €28,929 | €20,637 | -€8,292 | -28.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,071 | -€9,363 | -€8,292 | -774.3% |
| Amounts payable | 17/49 | €2,279 | €6,580 | +€4,302 | +188.8% |
| Amounts payable within one year | 42/48 | €2,279 | €6,580 | +€4,302 | +188.8% |
| Trade debts | 44 | €2,279 | - | -€2,279 | |
| Suppliers | 440/4 | €2,279 | - | -€2,279 | |
| Taxes, remuneration and social security | 45 | - | €574 | +€574 | |
| Taxes | 450/3 | - | €574 | +€574 | |
| Other amounts payable | 47/48 | - | €6,006 | +€6,006 | |
| Goods, raw materials, services and sundry goods | 60/61 | €63 | - | -€63 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €993 | €2,169 | +€1,176 | +118.5% |
| Other operating charges | 640/8 | - | €101 | +€101 | |
| Gross operating margin | 9900 | -€63 | -€6,076 | -€6,013 | -9529.2% |
| Operating profit (loss) | 9901 | -€1,056 | -€8,346 | -€7,290 | -690.4% |
| Financial income | 75/76B | - | €117 | +€117 | |
| Recurring financial income | 75 | - | €117 | +€117 | |
| Financial charges | 65/66B | €15 | €63 | +€48 | +321.0% |
| Recurring financial charges | 65 | €15 | €63 | +€48 | +321.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,071 | -€8,292 | -€7,221 | -674.3% |
| Profit (loss) for the period | 9904 | -€1,071 | -€8,292 | -€7,221 | -674.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,071 | -€8,292 | -€7,221 | -674.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.