VBDP: 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.
VBDP
Largest movements
- Cash -€72,535
down €72,535 (-40.2%), from €180,655 to €108,120
mainly Investment in fixed assets (net) (-€66,776) and Net result for the year (-€22,858)
- Tangible fixed assets +€66,776
new in 2025: €66,776
- Stocks and contracts -€21,546
down €21,546 (-43.9%), from €49,109 to €27,563
- Receivables within one year +€4,219
up €4,219 (+12.2%), from €34,451 to €38,670
of which Other amounts receivable: +€14,134
- Reserves -€22,858
down €22,858 (-9.6%), from €238,199 to €215,341
of which Distributable reserves: -€20,380
- Gross operating margin -€20,706
down €20,706 (-1996.6%), from -€1,037 to -€21,743
- Financial income +€303
up €303 (+54.0%), from €562 to €865
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 | €266,401 | €243,620 | -€22,782 | -8.6% |
| Fixed assets | 21/28 | - | €66,776 | +€66,776 | |
| Tangible fixed assets | 22/27 | - | €66,776 | +€66,776 | |
| Assets under construction and advance payments | 27 | - | €66,776 | +€66,776 | |
| Current assets | 29/58 | €266,401 | €176,844 | -€89,558 | -33.6% |
| Stocks and contracts in progress | 3 | €49,109 | €27,563 | -€21,546 | -43.9% |
| Stocks | 30/36 | €49,109 | €27,563 | -€21,546 | -43.9% |
| Amounts receivable within one year | 40/41 | €34,451 | €38,670 | +€4,219 | +12.2% |
| Trade receivables | 40 | €12,722 | €2,807 | -€9,915 | -77.9% |
| Other amounts receivable | 41 | €21,728 | €35,863 | +€14,134 | +65.1% |
| Cash at bank and in hand | 54/58 | €180,655 | €108,120 | -€72,535 | -40.2% |
| Deferred charges and accrued income | 490/1 | €2,187 | €2,491 | +€303 | +13.9% |
| Total equity and liabilities | 10/49 | €266,401 | €243,620 | -€22,782 | -8.6% |
| Equity | 10/15 | €262,989 | €240,130 | -€22,858 | -8.7% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €238,199 | €215,341 | -€22,858 | -9.6% |
| Non-distributable reserves | 130/1 | €2,905 | €426 | -€2,479 | -85.3% |
| Reserves not available under the articles | 1311 | €2,905 | €426 | -€2,479 | -85.3% |
| Tax-exempt reserves | 132 | €3,452 | €3,452 | = | 0.0% |
| Distributable reserves | 133 | €231,842 | €211,462 | -€20,380 | -8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,413 | €3,490 | +€77 | +2.2% |
| Amounts payable within one year | 42/48 | €2,013 | €2,090 | +€77 | +3.8% |
| Trade debts | 44 | €714 | €1,481 | +€768 | +107.6% |
| Suppliers | 440/4 | €714 | €1,481 | +€768 | +107.6% |
| Taxes, remuneration and social security | 45 | €1,299 | €608 | -€691 | -53.2% |
| Taxes | 450/3 | €1,299 | €608 | -€691 | -53.2% |
| Accrued charges and deferred income | 492/3 | €1,400 | €1,400 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €1,458 | €1,598 | +€140 | +9.6% |
| Gross operating margin | 9900 | -€1,037 | -€21,743 | -€20,706 | -1996.6% |
| Operating profit (loss) | 9901 | -€2,495 | -€23,340 | -€20,845 | -835.5% |
| Financial income | 75/76B | €562 | €865 | +€303 | +54.0% |
| Recurring financial income | 75 | €562 | €865 | +€303 | +54.0% |
| Financial charges | 65/66B | €57 | €59 | +€1 | +1.9% |
| Recurring financial charges | 65 | €57 | €59 | +€1 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,991 | -€22,534 | -€20,543 | -1031.8% |
| Income taxes | 67/77 | €314 | €325 | +€11 | +3.5% |
| Profit (loss) for the period | 9904 | -€2,305 | -€22,858 | -€20,554 | -891.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,305 | -€22,858 | -€20,554 | -891.8% |
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 9 October 2026 via checked.be.