VD-G: 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-G
Largest movements
- Deferred charges and accrued income +€90,336
new in 2025: €90,336
- Cash +€25,592
up €25,592 (+1027.2%), from €2,492 to €28,084
mainly Net result for the year (+€116,522) and Tax, wage and social debts (+€11,841)
- Receivables within one year +€6,295
new in 2025: €6,295
- Tangible fixed assets +€2,928
new in 2025: €2,928
- Reserves +€110,762
new in 2025: €110,762
- Tax, wage and social debts +€11,841
new in 2025: €11,841
- Profit (loss) carried forward +€4,901
no longer reported in 2025 (was -€4,901)
- Other debts -€3,910
down €3,910 (-82.0%), from €4,769 to €859
- Trade debts +€1,557
up €1,557 (+1260.0%), from €124 to €1,681
- Gross operating margin +€150,650
up €150,650, from -€1,843 to €148,808
- Taxes +€32,141
new in 2025: €32,141
- Depreciation -€2,993
down €2,993 (-98.1%), from €3,050 to €57
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 | €2,492 | €127,643 | +€125,151 | +5023.1% |
| Fixed assets | 21/28 | - | €2,928 | +€2,928 | |
| Tangible fixed assets | 22/27 | - | €2,928 | +€2,928 | |
| Plant, machinery and equipment | 23 | - | €2,928 | +€2,928 | |
| Current assets | 29/58 | €2,492 | €124,715 | +€122,223 | +4905.6% |
| Amounts receivable within one year | 40/41 | - | €6,295 | +€6,295 | |
| Other amounts receivable | 41 | - | €6,295 | +€6,295 | |
| Cash at bank and in hand | 54/58 | €2,492 | €28,084 | +€25,592 | +1027.2% |
| Deferred charges and accrued income | 490/1 | - | €90,336 | +€90,336 | |
| Total equity and liabilities | 10/49 | €2,492 | €127,643 | +€125,151 | +5023.1% |
| Equity | 10/15 | -€2,401 | €113,262 | +€115,663 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €110,762 | +€110,762 | |
| Distributable reserves | 133 | - | €110,762 | +€110,762 | |
| Profit (loss) carried forward | 14 | -€4,901 | - | +€4,901 | |
| Amounts payable | 17/49 | €4,893 | €14,381 | +€9,488 | +193.9% |
| Amounts payable within one year | 42/48 | €4,893 | €14,381 | +€9,488 | +193.9% |
| Trade debts | 44 | €124 | €1,681 | +€1,557 | +1260.0% |
| Suppliers | 440/4 | €124 | €1,681 | +€1,557 | +1260.0% |
| Taxes, remuneration and social security | 45 | - | €11,841 | +€11,841 | |
| Taxes | 450/3 | - | €11,841 | +€11,841 | |
| Other amounts payable | 47/48 | €4,769 | €859 | -€3,910 | -82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,050 | €57 | -€2,993 | -98.1% |
| Gross operating margin | 9900 | -€1,843 | €148,808 | +€150,650 | |
| Operating profit (loss) | 9901 | -€4,893 | €148,751 | +€153,644 | |
| Financial charges | 65/66B | €9 | €88 | +€80 | +936.2% |
| Recurring financial charges | 65 | €9 | €88 | +€80 | +936.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,901 | €148,663 | +€153,564 | |
| Income taxes | 67/77 | - | €32,141 | +€32,141 | |
| Profit (loss) for the period | 9904 | -€4,901 | €116,522 | +€121,423 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,901 | €116,522 | +€121,423 |
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 1 October 2026 via checked.be.