VD RENOVATION: what changed
VD RENOVATION
Largest movements
- Receivables within one year -€44,547
down €44,547 (-59.8%), from €74,438 to €29,891
of which Trade receivables: -€43,939
- Cash +€43,425
up €43,425 (+778%), from €5,584 to €49,009
mainly Receivables within one year (+€44,547) and Other debts (+€27,894)
- Tangible fixed assets +€36,155
up €36,155 (+315%), from €11,462 to €47,618
- Stocks and contracts -€2,122
down €2,122 (-100%), from €2,122 to €0
- Other debts +€27,894
up €27,894 (+1,208%), from €2,308 to €30,203
- Debts after one year +€21,167
up €21,167 (+68.9%), from €30,735 to €51,902
- Profit (loss) carried forward -€12,973
down €12,973 (-78.2%), from €16,599 to €3,626
- Short-term financial debts +€10,853
up €10,853 (+117%), from €9,265 to €20,118
- Trade debts -€7,825
down €7,825 (-55.5%), from €14,089 to €6,263
- Turnover +€117,694
new in 2025: €117,694
- Purchases and services +€116,617
new in 2025: €116,617
- Gross operating margin -€18,879
down €18,879 (-85.3%), from €22,131 to €3,252
- Depreciation +€11,126
up €11,126 (+1,072%), from €1,038 to €12,164
- Taxes -€3,776
down €3,776 (-91.0%), from €4,150 to €373
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 | €93,605 | €127,017 | +€33,412 | +35.7% |
| Fixed assets | 21/28 | €11,462 | €48,118 | +€36,655 | +320% |
| Tangible fixed assets | 22/27 | €11,462 | €47,618 | +€36,155 | +315% |
| Furniture and vehicles | 24 | €11,462 | €47,618 | +€36,155 | +315% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €82,143 | €78,900 | -€3,243 | -3.9% |
| Stocks and contracts in progress | 3 | €2,122 | €0 | -€2,122 | -100% |
| Stocks | 30/36 | €2,122 | €0 | -€2,122 | -100% |
| Amounts receivable within one year | 40/41 | €74,438 | €29,891 | -€44,547 | -59.8% |
| Trade receivables | 40 | €61,038 | €17,100 | -€43,939 | -72.0% |
| Other amounts receivable | 41 | €13,399 | €12,792 | -€608 | -4.5% |
| Cash at bank and in hand | 54/58 | €5,584 | €49,009 | +€43,425 | +778% |
| Total equity and liabilities | 10/49 | €93,605 | €127,017 | +€33,412 | +35.7% |
| Equity | 10/15 | €26,599 | €13,626 | -€12,973 | -48.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,599 | €3,626 | -€12,973 | -78.2% |
| Amounts payable | 17/49 | €67,006 | €113,392 | +€46,385 | +69.2% |
| Amounts payable after more than one year | 17 | €30,735 | €51,902 | +€21,167 | +68.9% |
| Financial debts | 170/4 | €30,735 | €51,902 | +€21,167 | +68.9% |
| Amounts payable within one year | 42/48 | €36,271 | €61,489 | +€25,218 | +69.5% |
| Financial debts | 43 | €9,265 | €20,118 | +€10,853 | +117% |
| Credit institutions | 430/8 | €9,265 | €20,118 | +€10,853 | +117% |
| Trade debts | 44 | €14,089 | €6,263 | -€7,825 | -55.5% |
| Suppliers | 440/4 | €14,089 | €6,263 | -€7,825 | -55.5% |
| Taxes, remuneration and social security | 45 | €10,609 | €4,905 | -€5,704 | -53.8% |
| Taxes | 450/3 | €4,609 | €4,905 | +€296 | +6.4% |
| Remuneration and social security | 454/9 | €6,000 | €0 | -€6,000 | -100% |
| Other amounts payable | 47/48 | €2,308 | €30,203 | +€27,894 | +1,208% |
| Turnover | 70 | - | €117,694 | +€117,694 | |
| Non-recurring operating income | 76A | - | €2,175 | +€2,175 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €116,617 | +€116,617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,038 | €12,164 | +€11,126 | +1,072% |
| Non-recurring operating charges | 66A | €63 | €319 | +€256 | +405% |
| Gross operating margin | 9900 | €22,131 | €3,252 | -€18,879 | -85.3% |
| Operating profit (loss) | 9901 | €21,030 | -€9,230 | -€30,261 | |
| Financial charges | 65/66B | €282 | €3,369 | +€3,088 | +1,096% |
| Recurring financial charges | 65 | €250 | €3,369 | +€3,119 | +1,248% |
| Non-recurring financial charges | 66B | €32 | - | -€32 | |
| Profit (loss) for the period before taxes | 9903 | €20,749 | -€12,600 | -€33,349 | |
| Income taxes | 67/77 | €4,150 | €373 | -€3,776 | -91.0% |
| Profit (loss) for the period | 9904 | €16,599 | -€12,973 | -€29,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,599 | -€12,973 | -€29,572 |
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 2 November 2026 via checked.be.