VD&K Holding: 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.
VD&K Holding
Largest movements
- Receivables after one year +€30,392
new in 2025: €30,392
- Receivables within one year +€9,107
up €9,107 (+68.4%), from €13,310 to €22,417
of which Trade receivables: +€8,690
- Reserves +€113,956
new in 2025: €113,956
- Other debts -€65,188
down €65,188 (-22.8%), from €285,576 to €220,388
- Debts after one year -€32,907
down €32,907 (-11.7%), from €281,247 to €248,340
- Profit (loss) carried forward +€25,818
no longer reported in 2025 (was -€25,818)
- Financial income +€110,000
new in 2025: €110,000
- Gross operating margin +€23,955
up €23,955 (+114%), from €20,944 to €44,899
- Financial charges -€1,415
down €1,415 (-9.7%), from €14,564 to €13,149
- Taxes +€1,177
new in 2025: €1,177
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.
Derived cash bridge
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 | €590,259 | €629,328 | +€39,069 | +6.6% |
| Fixed assets | 21/28 | €550,000 | €552,701 | +€2,701 | +0.5% |
| Tangible fixed assets | 22/27 | - | €2,701 | +€2,701 | |
| Furniture and vehicles | 24 | - | €2,701 | +€2,701 | |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €40,259 | €76,627 | +€36,368 | +90.3% |
| Amounts receivable after more than one year | 29 | - | €30,392 | +€30,392 | |
| Other amounts receivable | 291 | - | €30,392 | +€30,392 | |
| Amounts receivable within one year | 40/41 | €13,310 | €22,417 | +€9,107 | +68.4% |
| Trade receivables | 40 | €13,310 | €22,000 | +€8,690 | +65.3% |
| Other amounts receivable | 41 | - | €417 | +€417 | |
| Cash at bank and in hand | 54/58 | €26,949 | €23,817 | -€3,132 | -11.6% |
| Total equity and liabilities | 10/49 | €590,259 | €629,328 | +€39,069 | +6.6% |
| Equity | 10/15 | -€20,818 | €118,956 | +€139,774 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €113,956 | +€113,956 | |
| Distributable reserves | 133 | - | €113,956 | +€113,956 | |
| Profit (loss) carried forward | 14 | -€25,818 | - | +€25,818 | |
| Amounts payable | 17/49 | €611,077 | €510,372 | -€100,705 | -16.5% |
| Amounts payable after more than one year | 17 | €281,247 | €248,340 | -€32,907 | -11.7% |
| Financial debts | 170/4 | €281,247 | €248,340 | -€32,907 | -11.7% |
| Amounts payable within one year | 42/48 | €329,830 | €262,033 | -€67,798 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €31,525 | €32,907 | +€1,382 | +4.4% |
| Trade debts | 44 | €3,042 | €4,286 | +€1,243 | +40.9% |
| Suppliers | 440/4 | €3,042 | €4,286 | +€1,243 | +40.9% |
| Taxes, remuneration and social security | 45 | €9,687 | €4,452 | -€5,235 | -54.0% |
| Taxes | 450/3 | €6,887 | €1,177 | -€5,710 | -82.9% |
| Remuneration and social security | 454/9 | €2,800 | €3,275 | +€475 | +17.0% |
| Other amounts payable | 47/48 | €285,576 | €220,388 | -€65,188 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €338 | +€338 | |
| Other operating charges | 640/8 | €749 | €462 | -€288 | -38.4% |
| Gross operating margin | 9900 | €20,944 | €44,899 | +€23,955 | +114% |
| Operating profit (loss) | 9901 | €20,195 | €44,100 | +€23,905 | +118% |
| Financial income | 75/76B | - | €110,000 | +€110,000 | |
| Recurring financial income | 75 | - | €110,000 | +€110,000 | |
| Financial charges | 65/66B | €14,564 | €13,149 | -€1,415 | -9.7% |
| Recurring financial charges | 65 | €14,564 | €13,149 | -€1,415 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €5,631 | €140,951 | +€135,320 | +2,403% |
| Income taxes | 67/77 | - | €1,177 | +€1,177 | |
| Profit (loss) for the period | 9904 | €5,631 | €139,774 | +€134,143 | +2,382% |
| Profit (loss) for the period to be appropriated | 9905 | €5,631 | €139,774 | +€134,143 | +2,382% |
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 29 October 2026 via checked.be.