VD Studio: 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 Studio
Largest movements
- Cash -€20,907
down €20,907 (-56.4%), from €37,060 to €16,153
mainly Other debts (-€12,046) and Tax, wage and social debts (-€8,055)
- Deferred charges and accrued income +€6,531
up €6,531 (+381.5%), from €1,712 to €8,243
- Receivables within one year -€6,007
down €6,007 (-61.7%), from €9,735 to €3,728
of which Trade receivables: -€9,735
- Tangible fixed assets -€1,203
down €1,203 (-42.9%), from €2,802 to €1,599
- Other debts -€12,046
down €12,046 (-63.9%), from €18,843 to €6,797
- Tax, wage and social debts -€8,055
down €8,055 (-67.0%), from €12,016 to €3,961
of which Taxes: -€8,533
- Trade debts -€1,531
down €1,531 (-50.6%), from €3,026 to €1,495
- Gross operating margin -€29,971
down €29,971 (-88.8%), from €33,744 to €3,773
- Taxes -€5,017
down €5,017 (-68.8%), from €7,289 to €2,272
- Financial charges -€403
down €403 (-69.2%), from €582 to €179
- Depreciation +€396
up €396 (+49.1%), from €807 to €1,203
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 | €51,309 | €29,723 | -€21,586 | -42.1% |
| Fixed assets | 21/28 | €2,802 | €1,599 | -€1,203 | -42.9% |
| Tangible fixed assets | 22/27 | €2,802 | €1,599 | -€1,203 | -42.9% |
| Furniture and vehicles | 24 | €2,802 | €1,599 | -€1,203 | -42.9% |
| Current assets | 29/58 | €48,507 | €28,124 | -€20,383 | -42.0% |
| Amounts receivable within one year | 40/41 | €9,735 | €3,728 | -€6,007 | -61.7% |
| Trade receivables | 40 | €9,735 | - | -€9,735 | |
| Other amounts receivable | 41 | - | €3,728 | +€3,728 | |
| Cash at bank and in hand | 54/58 | €37,060 | €16,153 | -€20,907 | -56.4% |
| Deferred charges and accrued income | 490/1 | €1,712 | €8,243 | +€6,531 | +381.5% |
| Total equity and liabilities | 10/49 | €51,309 | €29,723 | -€21,586 | -42.1% |
| Equity | 10/15 | €17,424 | €17,470 | +€46 | +0.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €14,900 | €14,900 | = | 0.0% |
| Distributable reserves | 133 | €14,900 | €14,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24 | €70 | +€46 | +191.7% |
| Amounts payable | 17/49 | €33,885 | €12,253 | -€21,632 | -63.8% |
| Amounts payable within one year | 42/48 | €33,885 | €12,253 | -€21,632 | -63.8% |
| Trade debts | 44 | €3,026 | €1,495 | -€1,531 | -50.6% |
| Suppliers | 440/4 | €3,026 | €1,495 | -€1,531 | -50.6% |
| Taxes, remuneration and social security | 45 | €12,016 | €3,961 | -€8,055 | -67.0% |
| Taxes | 450/3 | €9,994 | €1,461 | -€8,533 | -85.4% |
| Remuneration and social security | 454/9 | €2,022 | €2,500 | +€478 | +23.6% |
| Other amounts payable | 47/48 | €18,843 | €6,797 | -€12,046 | -63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €807 | €1,203 | +€396 | +49.1% |
| Other operating charges | 640/8 | €142 | €73 | -€69 | -48.6% |
| Gross operating margin | 9900 | €33,744 | €3,773 | -€29,971 | -88.8% |
| Operating profit (loss) | 9901 | €32,795 | €2,497 | -€30,298 | -92.4% |
| Financial charges | 65/66B | €582 | €179 | -€403 | -69.2% |
| Recurring financial charges | 65 | €582 | €179 | -€403 | -69.2% |
| Profit (loss) for the period before taxes | 9903 | €32,213 | €2,318 | -€29,895 | -92.8% |
| Income taxes | 67/77 | €7,289 | €2,272 | -€5,017 | -68.8% |
| Profit (loss) for the period | 9904 | €24,924 | €46 | -€24,878 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,924 | €46 | -€24,878 | -99.8% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.