VD Technics: 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 Technics
Largest movements
- Receivables within one year -€56,461
down €56,461 (-30.4%), from €185,767 to €129,305
of which Trade receivables: -€61,171
- Stocks and contracts +€25,737
up €25,737 (+28.6%), from €90,106 to €115,843
- Tangible fixed assets -€22,106
down €22,106 (-23.6%), from €93,842 to €71,737
of which Furniture and vehicles: -€42,844
- Cash -€11,623
down €11,623 (-46.6%), from €24,942 to €13,319
mainly Other debts (-€77,728) and Trade debts (-€26,825)
- Financial fixed assets +€5,489
up €5,489 (+1304.4%), from €421 to €5,909
- Profit (loss) carried forward +€84,204
up €84,204 (+336.8%), from €25,000 to €109,204
- Other debts -€77,728
down €77,728 (-41.5%), from €187,448 to €109,720
- Trade debts -€26,825
down €26,825 (-41.2%), from €65,098 to €38,273
- Debts after one year -€25,210
down €25,210 (-55.3%), from €45,585 to €20,375
- Short-term financial debts +€16,891
new in 2026: €16,891
- Gross operating margin -€25,403
down €25,403 (-14.8%), from €171,840 to €146,437
- Taxes -€9,537
down €9,537 (-28.0%), from €34,046 to €24,508
- Financial income -€4,233
down €4,233 (-31.1%), from €13,599 to €9,366
- Write-downs +€3,031
new in 2026: €3,031
- Financial charges +€2,539
up €2,539 (+77.8%), from €3,265 to €5,804
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €397,306 | €340,399 | -€56,908 | -14.3% |
| Fixed assets | 21/28 | €94,263 | €77,646 | -€16,617 | -17.6% |
| Tangible fixed assets | 22/27 | €93,842 | €71,737 | -€22,106 | -23.6% |
| Plant, machinery and equipment | 23 | - | €9,035 | +€9,035 | |
| Furniture and vehicles | 24 | €93,842 | €50,998 | -€42,844 | -45.7% |
| Other tangible fixed assets | 26 | - | €11,704 | +€11,704 | |
| Financial fixed assets | 28 | €421 | €5,909 | +€5,489 | +1304.4% |
| Current assets | 29/58 | €303,043 | €262,753 | -€40,291 | -13.3% |
| Stocks and contracts in progress | 3 | €90,106 | €115,843 | +€25,737 | +28.6% |
| Stocks | 30/36 | €90,106 | €115,843 | +€25,737 | +28.6% |
| Amounts receivable within one year | 40/41 | €185,767 | €129,305 | -€56,461 | -30.4% |
| Trade receivables | 40 | €160,838 | €99,667 | -€61,171 | -38.0% |
| Other amounts receivable | 41 | €24,929 | €29,639 | +€4,710 | +18.9% |
| Cash at bank and in hand | 54/58 | €24,942 | €13,319 | -€11,623 | -46.6% |
| Deferred charges and accrued income | 490/1 | €2,229 | €4,285 | +€2,056 | +92.2% |
| Total equity and liabilities | 10/49 | €397,306 | €340,399 | -€56,908 | -14.3% |
| Equity | 10/15 | €44,000 | €128,204 | +€84,204 | +191.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,000 | €109,204 | +€84,204 | +336.8% |
| Amounts payable | 17/49 | €353,306 | €212,195 | -€141,111 | -39.9% |
| Amounts payable after more than one year | 17 | €45,585 | €20,375 | -€25,210 | -55.3% |
| Financial debts | 170/4 | €45,585 | €20,375 | -€25,210 | -55.3% |
| Amounts payable within one year | 42/48 | €307,721 | €191,820 | -€115,901 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €40,453 | €25,210 | -€15,243 | -37.7% |
| Financial debts | 43 | - | €16,891 | +€16,891 | |
| Credit institutions | 430/8 | - | €16,891 | +€16,891 | |
| Trade debts | 44 | €65,098 | €38,273 | -€26,825 | -41.2% |
| Suppliers | 440/4 | €65,098 | €38,273 | -€26,825 | -41.2% |
| Taxes, remuneration and social security | 45 | €14,722 | €1,726 | -€12,996 | -88.3% |
| Taxes | 450/3 | €5,124 | €1,726 | -€3,398 | -66.3% |
| Remuneration and social security | 454/9 | €9,598 | €0 | -€9,598 | -100.0% |
| Other amounts payable | 47/48 | €187,448 | €109,720 | -€77,728 | -41.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €737 | - | -€737 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,125 | €36,903 | -€221 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,031 | +€3,031 | |
| Other operating charges | 640/8 | €1,113 | €1,354 | +€241 | +21.7% |
| Gross operating margin | 9900 | €171,840 | €146,437 | -€25,403 | -14.8% |
| Operating profit (loss) | 9901 | €132,866 | €105,149 | -€27,717 | -20.9% |
| Financial income | 75/76B | €13,599 | €9,366 | -€4,233 | -31.1% |
| Recurring financial income | 75 | €13,599 | €9,366 | -€4,233 | -31.1% |
| Financial charges | 65/66B | €3,265 | €5,804 | +€2,539 | +77.8% |
| Recurring financial charges | 65 | €3,265 | €5,804 | +€2,539 | +77.8% |
| Profit (loss) for the period before taxes | 9903 | €143,200 | €108,712 | -€34,488 | -24.1% |
| Income taxes | 67/77 | €34,046 | €24,508 | -€9,537 | -28.0% |
| Profit (loss) for the period | 9904 | €109,154 | €84,204 | -€24,951 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €109,154 | €84,204 | -€24,951 | -22.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.