VD.S INVEST: what changed
VD.S INVEST
Largest movements
- Receivables within one year +€603,194
up €603,194 (+27.7%), from €2.2m to €2.8m
of which Other amounts receivable: +€374,126
- Cash -€199,584
down €199,584 (-90.2%), from €221,277 to €21,693
mainly Receivables within one year (-€603,194) and Debts after one year (-€322,305)
- Profit (loss) carried forward +€339,310
up €339,310 (+69.9%), from €485,455 to €824,764
- Debts after one year -€322,305
down €322,305 (-5.0%), from €6.4m to €6.1m
- Trade debts +€275,129
up €275,129 (+504%), from €54,570 to €329,699
- Gross operating margin +€394,964
up €394,964 (+156%), from €253,635 to €648,599
- Financial charges +€109,336
up €109,336 (+212%), from €51,534 to €160,871
- Financial income -€53,068
down €53,068 (-23.8%), from €223,068 to €170,000
of which Financial income: -€53,067
- Taxes +€50,456
up €50,456 (+389%), from €12,962 to €63,418
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 | €8,188,542 | €8,542,151 | +€353,609 | +4.3% |
| Fixed assets | 21/28 | €5,791,692 | €5,741,692 | -€50,000 | -0.9% |
| Financial fixed assets | 28 | €5,791,692 | €5,741,692 | -€50,000 | -0.9% |
| Current assets | 29/58 | €2,396,849 | €2,800,459 | +€403,609 | +16.8% |
| Amounts receivable within one year | 40/41 | €2,175,572 | €2,778,766 | +€603,194 | +27.7% |
| Trade receivables | 40 | €261,178 | €490,246 | +€229,068 | +87.7% |
| Other amounts receivable | 41 | €1,914,393 | €2,288,519 | +€374,126 | +19.5% |
| Cash at bank and in hand | 54/58 | €221,277 | €21,693 | -€199,584 | -90.2% |
| Total equity and liabilities | 10/49 | €8,188,542 | €8,542,151 | +€353,609 | +4.3% |
| Equity | 10/15 | €785,455 | €1,124,764 | +€339,310 | +43.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Contributions outside capital | 11 | €300,000 | €300,000 | = | 0.0% |
| Other | 1109/19 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €485,455 | €824,764 | +€339,310 | +69.9% |
| Amounts payable | 17/49 | €7,403,087 | €7,417,387 | +€14,300 | +0.2% |
| Amounts payable after more than one year | 17 | €6,438,979 | €6,116,674 | -€322,305 | -5.0% |
| Financial debts | 170/4 | €6,438,979 | €6,116,674 | -€322,305 | -5.0% |
| Amounts payable within one year | 42/48 | €937,549 | €1,263,307 | +€325,758 | +34.7% |
| Current portion of amounts payable after more than one year | 42 | €353,259 | €367,196 | +€13,938 | +3.9% |
| Trade debts | 44 | €54,570 | €329,699 | +€275,129 | +504% |
| Suppliers | 440/4 | €54,570 | €329,699 | +€275,129 | +504% |
| Advances received on contracts in progress | 46 | €9,680 | - | -€9,680 | |
| Taxes, remuneration and social security | 45 | €30,558 | €93,033 | +€62,474 | +204% |
| Taxes | 450/3 | €30,558 | €93,033 | +€62,474 | +204% |
| Other amounts payable | 47/48 | €489,482 | €473,379 | -€16,103 | -3.3% |
| Accrued charges and deferred income | 492/3 | €26,559 | €37,406 | +€10,847 | +40.8% |
| Other operating charges | 640/8 | €319 | - | -€319 | |
| Gross operating margin | 9900 | €253,635 | €648,599 | +€394,964 | +156% |
| Operating profit (loss) | 9901 | €253,316 | €648,599 | +€395,283 | +156% |
| Financial income | 75/76B | €223,068 | €170,000 | -€53,068 | -23.8% |
| Recurring financial income | 75 | €223,067 | €170,000 | -€53,067 | -23.8% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €51,534 | €160,871 | +€109,336 | +212% |
| Recurring financial charges | 65 | €51,534 | €160,871 | +€109,336 | +212% |
| Profit (loss) for the period before taxes | 9903 | €424,849 | €657,728 | +€232,879 | +54.8% |
| Income taxes | 67/77 | €12,962 | €63,418 | +€50,456 | +389% |
| Profit (loss) for the period | 9904 | €411,887 | €594,310 | +€182,423 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €411,887 | €594,310 | +€182,423 | +44.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.