VD & CO: 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.
VD & CO
Largest movements
- Cash -€22,429
down €22,429 (-67.8%), from €33,082 to €10,653
mainly Net result for the year (-€17,464) and Receivables within one year (-€11,025)
- Receivables within one year +€11,025
up €11,025 (+44.9%), from €24,559 to €35,583
of which Trade receivables: +€7,252
- Tangible fixed assets -€7,923
down €7,923 (-51.1%), from €15,500 to €7,576
of which Leasing and similar rights: -€4,700
- Profit (loss) carried forward -€17,464
down €17,464 (-46.0%), from €37,981 to €20,517
- Trade debts +€4,732
up €4,732 (+28.0%), from €16,925 to €21,657
- Debts after one year -€4,290
down €4,290 (-82.0%), from €5,230 to €940
- Tax, wage and social debts -€1,040
down €1,040 (-12.8%), from €8,125 to €7,084
of which Remuneration and social security: -€2,850
- Gross operating margin -€36,097
down €36,097, from €27,293 to -€8,804
- Taxes -€3,966
no longer reported in 2024 (was €3,966)
- Financial income -€935
no longer reported in 2024 (was €935)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,096 | €55,488 | -€18,608 | -25.1% |
| Fixed assets | 21/28 | €15,500 | €7,576 | -€7,923 | -51.1% |
| Tangible fixed assets | 22/27 | €15,500 | €7,576 | -€7,923 | -51.1% |
| Furniture and vehicles | 24 | €6,924 | €3,700 | -€3,223 | -46.6% |
| Leasing and similar rights | 25 | €8,576 | €3,876 | -€4,700 | -54.8% |
| Current assets | 29/58 | €58,597 | €47,912 | -€10,685 | -18.2% |
| Amounts receivable within one year | 40/41 | €24,559 | €35,583 | +€11,025 | +44.9% |
| Trade receivables | 40 | €4,466 | €11,718 | +€7,252 | +162.4% |
| Other amounts receivable | 41 | €20,093 | €23,865 | +€3,773 | +18.8% |
| Cash at bank and in hand | 54/58 | €33,082 | €10,653 | -€22,429 | -67.8% |
| Deferred charges and accrued income | 490/1 | €957 | €1,676 | +€719 | +75.2% |
| Total equity and liabilities | 10/49 | €74,096 | €55,488 | -€18,608 | -25.1% |
| Equity | 10/15 | €38,981 | €21,517 | -€17,464 | -44.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,981 | €20,517 | -€17,464 | -46.0% |
| Amounts payable | 17/49 | €35,116 | €33,971 | -€1,144 | -3.3% |
| Amounts payable after more than one year | 17 | €5,230 | €940 | -€4,290 | -82.0% |
| Financial debts | 170/4 | €5,230 | €940 | -€4,290 | -82.0% |
| Amounts payable within one year | 42/48 | €29,886 | €33,031 | +€3,146 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €4,600 | €4,290 | -€310 | -6.7% |
| Trade debts | 44 | €16,925 | €21,657 | +€4,732 | +28.0% |
| Suppliers | 440/4 | €16,925 | €21,657 | +€4,732 | +28.0% |
| Taxes, remuneration and social security | 45 | €8,125 | €7,084 | -€1,040 | -12.8% |
| Taxes | 450/3 | €5,275 | €7,084 | +€1,810 | +34.3% |
| Remuneration and social security | 454/9 | €2,850 | - | -€2,850 | |
| Other amounts payable | 47/48 | €236 | - | -€236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,923 | €7,923 | = | 0.0% |
| Other operating charges | 640/8 | €485 | €530 | +€45 | +9.3% |
| Gross operating margin | 9900 | €27,293 | -€8,804 | -€36,097 | |
| Operating profit (loss) | 9901 | €18,884 | -€17,258 | -€36,142 | |
| Financial income | 75/76B | €935 | - | -€935 | |
| Recurring financial income | 75 | €935 | - | -€935 | |
| Financial charges | 65/66B | €373 | €206 | -€167 | -44.7% |
| Recurring financial charges | 65 | €373 | €206 | -€167 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €19,447 | -€17,464 | -€36,911 | |
| Income taxes | 67/77 | €3,966 | - | -€3,966 | |
| Profit (loss) for the period | 9904 | €15,481 | -€17,464 | -€32,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,481 | -€17,464 | -€32,945 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.