VD-Fisc: what changed
VD-Fisc
Largest movements
- Receivables within one year +€61,051
up €61,051 (+32.8%), from €185,868 to €246,919
of which Trade receivables: +€68,545
- Intangible fixed assets -€29,286
down €29,286 (-20.4%), from €143,219 to €113,933
- Cash -€10,366
down €10,366 (-5.7%), from €182,809 to €172,444
mainly Contributions, distributions and other (-€292,193) and Receivables within one year (-€61,051)
- Other debts +€155,665
up €155,665 (+131%), from €118,405 to €274,070
- Reserves -€140,856
down €140,856 (-100%), from €140,856 to €0
- Tax, wage and social debts +€65,160
up €65,160 (+79.1%), from €82,326 to €147,486
of which Remuneration and social security: +€37,396
- Debts after one year -€49,102
down €49,102 (-26.5%), from €185,336 to €136,234
- Trade debts -€15,470
down €15,470 (-37.8%), from €40,930 to €25,460
- Gross operating margin +€288,909
up €288,909 (+52.0%), from €555,598 to €844,507
- Staff costs +€152,068
up €152,068 (+36.8%), from €413,464 to €565,533
- Taxes +€35,543
up €35,543 (+211%), from €16,823 to €52,367
- Other operating charges -€13,140
down €13,140 (-89.3%), from €14,716 to €1,576
- Depreciation +€12,800
up €12,800 (+28.4%), from €45,083 to €57,883
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €622,181 | €651,192 | +€29,012 | +4.7% |
| Fixed assets | 21/28 | €245,513 | €222,086 | -€23,427 | -9.5% |
| Intangible fixed assets | 21 | €143,219 | €113,933 | -€29,286 | -20.4% |
| Tangible fixed assets | 22/27 | €97,794 | €99,042 | +€1,247 | +1.3% |
| Furniture and vehicles | 24 | €97,794 | €99,042 | +€1,247 | +1.3% |
| Financial fixed assets | 28 | €4,500 | €9,111 | +€4,611 | +102% |
| Current assets | 29/58 | €376,667 | €429,106 | +€52,439 | +13.9% |
| Amounts receivable within one year | 40/41 | €185,868 | €246,919 | +€61,051 | +32.8% |
| Trade receivables | 40 | €170,030 | €238,576 | +€68,545 | +40.3% |
| Other amounts receivable | 41 | €15,837 | €8,343 | -€7,494 | -47.3% |
| Cash at bank and in hand | 54/58 | €182,809 | €172,444 | -€10,366 | -5.7% |
| Deferred charges and accrued income | 490/1 | €7,990 | €9,744 | +€1,754 | +21.9% |
| Total equity and liabilities | 10/49 | €622,181 | €651,192 | +€29,012 | +4.7% |
| Equity | 10/15 | €145,856 | €5,000 | -€140,856 | -96.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €140,856 | €0 | -€140,856 | -100% |
| Distributable reserves | 133 | €140,856 | €0 | -€140,856 | -100% |
| Amounts payable | 17/49 | €476,325 | €646,192 | +€169,867 | +35.7% |
| Amounts payable after more than one year | 17 | €185,336 | €136,234 | -€49,102 | -26.5% |
| Financial debts | 170/4 | €185,336 | €136,234 | -€49,102 | -26.5% |
| Amounts payable within one year | 42/48 | €290,989 | €495,517 | +€204,529 | +70.3% |
| Current portion of amounts payable after more than one year | 42 | €49,328 | €48,501 | -€827 | -1.7% |
| Trade debts | 44 | €40,930 | €25,460 | -€15,470 | -37.8% |
| Suppliers | 440/4 | €40,930 | €25,460 | -€15,470 | -37.8% |
| Taxes, remuneration and social security | 45 | €82,326 | €147,486 | +€65,160 | +79.1% |
| Taxes | 450/3 | €21,230 | €48,994 | +€27,764 | +131% |
| Remuneration and social security | 454/9 | €61,097 | €98,493 | +€37,396 | +61.2% |
| Other amounts payable | 47/48 | €118,405 | €274,070 | +€155,665 | +131% |
| Accrued charges and deferred income | 492/3 | - | €14,441 | +€14,441 | |
| Remuneration, social security and pensions | 62 | €413,464 | €565,533 | +€152,068 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,083 | €57,883 | +€12,800 | +28.4% |
| Other operating charges | 640/8 | €14,716 | €1,576 | -€13,140 | -89.3% |
| Non-recurring operating charges | 66A | - | €11,500 | +€11,500 | |
| Gross operating margin | 9900 | €555,598 | €844,507 | +€288,909 | +52.0% |
| Operating profit (loss) | 9901 | €82,335 | €208,015 | +€125,681 | +153% |
| Financial income | 75/76B | €305 | €1,235 | +€929 | +305% |
| Recurring financial income | 75 | €305 | €1,235 | +€929 | +305% |
| Financial charges | 65/66B | €6,928 | €5,546 | -€1,382 | -19.9% |
| Recurring financial charges | 65 | €6,928 | €5,546 | -€1,382 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €75,712 | €203,704 | +€127,992 | +169% |
| Income taxes | 67/77 | €16,823 | €52,367 | +€35,543 | +211% |
| Profit (loss) for the period | 9904 | €58,889 | €151,337 | +€92,448 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €58,889 | €151,337 | +€92,448 | +157% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.