VD Label: 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 Label
Largest movements
- Cash -€17,291
down €17,291 (-35.4%), from €48,889 to €31,598
mainly Contributions, distributions and other (-€74,619) and Debts after one year (-€9,321)
- Tangible fixed assets -€6,457
down €6,457 (-17.0%), from €38,022 to €31,565
of which Furniture and vehicles: -€10,921
- Deferred charges and accrued income +€1,403
up €1,403 (+21.7%), from €6,471 to €7,874
- Receivables within one year -€1,004
down €1,004 (-98.8%), from €1,016 to €13
- Reserves -€35,991
down €35,991 (-100.0%), from €35,991 to €0
- Other debts +€17,440
up €17,440 (+117.2%), from €14,884 to €32,324
- Debts after one year -€9,321
down €9,321 (-62.6%), from €14,878 to €5,557
- Tax, wage and social debts +€5,154
up €5,154 (+39.9%), from €12,917 to €18,072
of which Taxes: +€5,154
- Accrued charges and deferred income -€1,063
down €1,063 (-100.0%), from €1,063 to €0
- Gross operating margin +€28,267
up €28,267 (+78.4%), from €36,073 to €64,340
- Taxes +€5,733
up €5,733 (+127.8%), from €4,487 to €10,220
- Depreciation +€1,816
up €1,816 (+15.2%), from €11,947 to €13,763
- Financial charges -€1,518
down €1,518 (-68.8%), from €2,207 to €689
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 | €94,399 | €71,049 | -€23,350 | -24.7% |
| Fixed assets | 21/28 | €38,022 | €31,565 | -€6,457 | -17.0% |
| Tangible fixed assets | 22/27 | €38,022 | €31,565 | -€6,457 | -17.0% |
| Plant, machinery and equipment | 23 | - | €4,463 | +€4,463 | |
| Furniture and vehicles | 24 | €38,022 | €27,101 | -€10,921 | -28.7% |
| Current assets | 29/58 | €56,377 | €39,484 | -€16,892 | -30.0% |
| Amounts receivable within one year | 40/41 | €1,016 | €13 | -€1,004 | -98.8% |
| Other amounts receivable | 41 | €1,016 | €13 | -€1,004 | -98.8% |
| Cash at bank and in hand | 54/58 | €48,889 | €31,598 | -€17,291 | -35.4% |
| Deferred charges and accrued income | 490/1 | €6,471 | €7,874 | +€1,403 | +21.7% |
| Total equity and liabilities | 10/49 | €94,399 | €71,049 | -€23,350 | -24.7% |
| Equity | 10/15 | €40,991 | €5,000 | -€35,991 | -87.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,991 | €0 | -€35,991 | -100.0% |
| Distributable reserves | 133 | €35,991 | €0 | -€35,991 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,408 | €66,049 | +€12,641 | +23.7% |
| Amounts payable after more than one year | 17 | €14,878 | €5,557 | -€9,321 | -62.6% |
| Financial debts | 170/4 | €14,878 | €5,557 | -€9,321 | -62.6% |
| Amounts payable within one year | 42/48 | €37,467 | €60,491 | +€23,024 | +61.5% |
| Current portion of amounts payable after more than one year | 42 | €9,065 | €9,321 | +€255 | +2.8% |
| Trade debts | 44 | €600 | €775 | +€175 | +29.2% |
| Suppliers | 440/4 | €600 | €775 | +€175 | +29.2% |
| Taxes, remuneration and social security | 45 | €12,917 | €18,072 | +€5,154 | +39.9% |
| Taxes | 450/3 | €11,017 | €16,172 | +€5,154 | +46.8% |
| Remuneration and social security | 454/9 | €1,900 | €1,900 | = | 0.0% |
| Other amounts payable | 47/48 | €14,884 | €32,324 | +€17,440 | +117.2% |
| Accrued charges and deferred income | 492/3 | €1,063 | €0 | -€1,063 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,947 | €13,763 | +€1,816 | +15.2% |
| Other operating charges | 640/8 | €1,022 | €1,040 | +€18 | +1.8% |
| Gross operating margin | 9900 | €36,073 | €64,340 | +€28,267 | +78.4% |
| Operating profit (loss) | 9901 | €23,105 | €49,537 | +€26,432 | +114.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,207 | €689 | -€1,518 | -68.8% |
| Recurring financial charges | 65 | €2,207 | €689 | -€1,518 | -68.8% |
| Profit (loss) for the period before taxes | 9903 | €20,897 | €48,848 | +€27,951 | +133.8% |
| Income taxes | 67/77 | €4,487 | €10,220 | +€5,733 | +127.8% |
| Profit (loss) for the period | 9904 | €16,410 | €38,628 | +€22,218 | +135.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,410 | €38,628 | +€22,218 | +135.4% |
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 7 October 2026 via checked.be.