VD TEAM: what changed
Two fiscal 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 TEAM
Largest movements
- Receivables within one year +€15,138
up €15,138 (+58.1%), from €26,043 to €41,181
of which Trade receivables: +€15,191
- Cash -€5,979
down €5,979 (-98.8%), from €6,055 to €76
mainly Receivables within one year (-€15,138) and Trade debts (-€2,022)
- Tax, wage and social debts +€7,176
up €7,176 (+155.9%), from €4,602 to €11,778
of which Remuneration and social security: +€5,063
- Profit (loss) carried forward +€4,004
up €4,004 (+23.7%), from €16,899 to €20,903
- Trade debts -€2,022
down €2,022 (-26.6%), from €7,597 to €5,575
- Gross operating margin +€3,607
up €3,607 (+235.5%), from €1,532 to €5,139
- Financial income -€748
down €748 (-99.7%), from €750 to €2
- Taxes +€720
up €720 (+195.8%), from €367 to €1,087
- Other operating charges -€387
no longer reported in 2025 (was €387)
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 | €32,098 | €41,256 | +€9,159 | +28.5% |
| Current assets | 29/58 | €32,098 | €41,256 | +€9,159 | +28.5% |
| Amounts receivable within one year | 40/41 | €26,043 | €41,181 | +€15,138 | +58.1% |
| Trade receivables | 40 | €25,980 | €41,171 | +€15,191 | +58.5% |
| Other amounts receivable | 41 | €63 | €10 | -€53 | -84.4% |
| Cash at bank and in hand | 54/58 | €6,055 | €76 | -€5,979 | -98.8% |
| Total equity and liabilities | 10/49 | €32,098 | €41,256 | +€9,159 | +28.5% |
| Equity | 10/15 | €19,899 | €23,903 | +€4,004 | +20.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,899 | €20,903 | +€4,004 | +23.7% |
| Amounts payable | 17/49 | €12,199 | €17,353 | +€5,154 | +42.3% |
| Amounts payable within one year | 42/48 | €12,199 | €17,353 | +€5,154 | +42.3% |
| Trade debts | 44 | €7,597 | €5,575 | -€2,022 | -26.6% |
| Suppliers | 440/4 | €7,597 | €5,575 | -€2,022 | -26.6% |
| Taxes, remuneration and social security | 45 | €4,602 | €11,778 | +€7,176 | +155.9% |
| Taxes | 450/3 | €1,602 | €3,715 | +€2,113 | +131.9% |
| Remuneration and social security | 454/9 | €3,000 | €8,063 | +€5,063 | +168.8% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €1,532 | €5,139 | +€3,607 | +235.5% |
| Operating profit (loss) | 9901 | €1,144 | €5,139 | +€3,994 | +349.0% |
| Financial income | 75/76B | €750 | €2 | -€748 | -99.7% |
| Recurring financial income | 75 | €750 | €2 | -€748 | -99.7% |
| Financial charges | 65/66B | €57 | €50 | -€7 | -13.1% |
| Recurring financial charges | 65 | €57 | €50 | -€7 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €1,837 | €5,091 | +€3,254 | +177.1% |
| Income taxes | 67/77 | €367 | €1,087 | +€720 | +195.8% |
| Profit (loss) for the period | 9904 | €1,470 | €4,004 | +€2,534 | +172.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,470 | €4,004 | +€2,534 | +172.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.