VD Solutions: 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 Solutions
Largest movements
- Cash -€149,678
down €149,678 (-52.0%), from €287,870 to €138,192
mainly Contributions, distributions and other (-€300,000) and Tax, wage and social debts (-€6,395)
- Receivables within one year -€123,055
down €123,055 (-99.9%), from €123,203 to €148
of which Other amounts receivable: -€108,019
- Tangible fixed assets -€12,978
down €12,978 (-32.0%), from €40,610 to €27,632
of which Furniture and vehicles: -€9,138
- Revaluation surpluses -€439,979
no longer reported in 2025 (was €439,979)
- Reserves +€117,215
new in 2025: €117,215
of which Distributable reserves: +€115,355
- Profit (loss) carried forward +€40,298
new in 2025: €40,298
- Tax, wage and social debts -€6,395
down €6,395 (-89.4%), from €7,149 to €754
- Turnover -€130,309
no longer reported in 2025 (was €130,309)
- Gross operating margin -€23,776
down €23,776 (-34.9%), from €68,043 to €44,267
- Taxes -€5,241
down €5,241 (-32.7%), from €16,006 to €10,765
- Financial charges +€1,802
up €1,802 (+36,045%), from €5 to €1,807
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 | €453,418 | €166,758 | -€286,660 | -63.2% |
| Fixed assets | 21/28 | €40,610 | €27,632 | -€12,978 | -32.0% |
| Tangible fixed assets | 22/27 | €40,610 | €27,632 | -€12,978 | -32.0% |
| Plant, machinery and equipment | 23 | €8,463 | €4,623 | -€3,840 | -45.4% |
| Furniture and vehicles | 24 | €32,147 | €23,009 | -€9,138 | -28.4% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €412,808 | €139,126 | -€273,682 | -66.3% |
| Amounts receivable within one year | 40/41 | €123,203 | €148 | -€123,055 | -99.9% |
| Trade receivables | 40 | €15,036 | €0 | -€15,036 | -100% |
| Other amounts receivable | 41 | €108,167 | €148 | -€108,019 | -99.9% |
| Current investments | 50/53 | €1,735 | - | -€1,735 | |
| Cash at bank and in hand | 54/58 | €287,870 | €138,192 | -€149,678 | -52.0% |
| Deferred charges and accrued income | 490/1 | - | €787 | +€787 | |
| Total equity and liabilities | 10/49 | €453,418 | €166,758 | -€286,660 | -63.2% |
| Equity | 10/15 | €446,179 | €163,713 | -€282,466 | -63.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €439,979 | - | -€439,979 | |
| Reserves | 13 | - | €117,215 | +€117,215 | |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €115,355 | +€115,355 | |
| Profit (loss) carried forward | 14 | - | €40,298 | +€40,298 | |
| Amounts payable | 17/49 | €7,239 | €3,045 | -€4,194 | -57.9% |
| Amounts payable within one year | 42/48 | €7,239 | €3,045 | -€4,194 | -57.9% |
| Trade debts | 44 | €90 | €72 | -€18 | -20.0% |
| Suppliers | 440/4 | €90 | €72 | -€18 | -20.0% |
| Taxes, remuneration and social security | 45 | €7,149 | €754 | -€6,395 | -89.4% |
| Taxes | 450/3 | €7,149 | €754 | -€6,395 | -89.4% |
| Other amounts payable | 47/48 | - | €2,219 | +€2,219 | |
| Turnover | 70 | €130,309 | - | -€130,309 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,616 | €10,750 | -€866 | -7.5% |
| Other operating charges | 640/8 | €118 | €1,186 | +€1,068 | +905% |
| Non-recurring operating charges | 66A | - | €2,228 | +€2,228 | |
| Gross operating margin | 9900 | €68,043 | €44,267 | -€23,776 | -34.9% |
| Operating profit (loss) | 9901 | €56,309 | €30,103 | -€26,206 | -46.5% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €5 | €1,807 | +€1,802 | +36,045% |
| Recurring financial charges | 65 | €5 | €1,807 | +€1,802 | +36,045% |
| Profit (loss) for the period before taxes | 9903 | €56,304 | €28,298 | -€28,006 | -49.7% |
| Income taxes | 67/77 | €16,006 | €10,765 | -€5,241 | -32.7% |
| Profit (loss) for the period | 9904 | €40,298 | €17,533 | -€22,765 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,298 | €17,533 | -€22,765 | -56.5% |
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 17 October 2026 via checked.be.