VD-Services: 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-Services
Largest movements
- Cash -€54,136
down €54,136 (-39.0%), from €138,654 to €84,518
mainly Contributions, distributions and other (-€140,510) and Current portion of long-term debt (-€9,262)
- Tangible fixed assets -€12,996
down €12,996 (-89.6%), from €14,503 to €1,507
- Deferred charges and accrued income -€2,636
down €2,636 (-87.0%), from €3,029 to €393
- Receivables within one year +€2,565
up €2,565 (+16.5%), from €15,561 to €18,126
- Reserves -€89,985
down €89,985 (-70.5%), from €127,680 to €37,695
- Other debts +€41,229
up €41,229 (+2,400%), from €1,718 to €42,947
- Current portion of long-term debt -€9,262
no longer reported in 2025 (was €9,262)
- Tax, wage and social debts -€6,614
down €6,614 (-26.1%), from €25,329 to €18,715
of which Remuneration and social security: -€5,755
- Debts after one year -€2,330
no longer reported in 2025 (was €2,330)
- Gross operating margin +€4,307
up €4,307 (+5.9%), from €72,590 to €76,897
- Taxes +€1,083
up €1,083 (+8.7%), from €12,448 to €13,531
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 | €171,747 | €104,544 | -€67,203 | -39.1% |
| Fixed assets | 21/28 | €14,503 | €1,507 | -€12,996 | -89.6% |
| Tangible fixed assets | 22/27 | €14,503 | €1,507 | -€12,996 | -89.6% |
| Furniture and vehicles | 24 | €14,503 | €1,507 | -€12,996 | -89.6% |
| Current assets | 29/58 | €157,243 | €103,037 | -€54,207 | -34.5% |
| Amounts receivable within one year | 40/41 | €15,561 | €18,126 | +€2,565 | +16.5% |
| Trade receivables | 40 | €15,561 | €18,126 | +€2,565 | +16.5% |
| Cash at bank and in hand | 54/58 | €138,654 | €84,518 | -€54,136 | -39.0% |
| Deferred charges and accrued income | 490/1 | €3,029 | €393 | -€2,636 | -87.0% |
| Total equity and liabilities | 10/49 | €171,747 | €104,544 | -€67,203 | -39.1% |
| Equity | 10/15 | €132,680 | €42,695 | -€89,985 | -67.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €127,680 | €37,695 | -€89,985 | -70.5% |
| Distributable reserves | 133 | €127,680 | €37,695 | -€89,985 | -70.5% |
| Amounts payable | 17/49 | €39,067 | €61,848 | +€22,782 | +58.3% |
| Amounts payable after more than one year | 17 | €2,330 | - | -€2,330 | |
| Financial debts | 170/4 | €2,330 | - | -€2,330 | |
| Amounts payable within one year | 42/48 | €36,736 | €61,848 | +€25,112 | +68.4% |
| Current portion of amounts payable after more than one year | 42 | €9,262 | - | -€9,262 | |
| Trade debts | 44 | €427 | €186 | -€241 | -56.4% |
| Suppliers | 440/4 | €427 | €186 | -€241 | -56.4% |
| Taxes, remuneration and social security | 45 | €25,329 | €18,715 | -€6,614 | -26.1% |
| Taxes | 450/3 | €19,574 | €18,715 | -€859 | -4.4% |
| Remuneration and social security | 454/9 | €5,755 | - | -€5,755 | |
| Other amounts payable | 47/48 | €1,718 | €42,947 | +€41,229 | +2,400% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,766 | €12,996 | +€230 | +1.8% |
| Other operating charges | 640/8 | €179 | €165 | -€14 | -8.0% |
| Gross operating margin | 9900 | €72,590 | €76,897 | +€4,307 | +5.9% |
| Operating profit (loss) | 9901 | €59,645 | €63,736 | +€4,091 | +6.9% |
| Financial income | 75/76B | €148 | €474 | +€326 | +221% |
| Recurring financial income | 75 | €148 | €474 | +€326 | +221% |
| Financial charges | 65/66B | €352 | €154 | -€198 | -56.3% |
| Recurring financial charges | 65 | €352 | €154 | -€198 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €59,440 | €64,056 | +€4,616 | +7.8% |
| Income taxes | 67/77 | €12,448 | €13,531 | +€1,083 | +8.7% |
| Profit (loss) for the period | 9904 | €46,992 | €50,526 | +€3,533 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,992 | €50,526 | +€3,533 | +7.5% |
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 15 October 2026 via checked.be.