VD TOOLS: 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.
What changed
VD TOOLS
NACE 46.841, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€156,669
2024 · €335,886-€179,217
Equity
€2.5m
2024 · €1.2m+€1.2m
Cash
€1.9m
2024 · €95,699+€1.8m
Balance sheet total
€16.6m
2024 · €6.7m+€9.9m
Largest movements
Assets
- Stocks and contracts +€3.7m
up €3.7m (+126.0%), from €2.9m to €6.6m
- Receivables within one year +€3.0m
up €3.0m (+111.6%), from €2.7m to €5.8m
of which Trade receivables: +€2.7m
- Cash +€1.8m
up €1.8m (+1920.4%), from €95,699 to €1.9m
mainly Debts after one year (+€5.1m) and Other debts (+€2.2m)
- Receivables after one year +€450,000
up €450,000, from €0 to €450,000
- Tangible fixed assets +€444,507
up €444,507 (+93.0%), from €477,849 to €922,356
of which Other tangible fixed assets: +€439,540
Equity and liabilities
- Debts after one year +€5.1m
up €5.1m (+404.1%), from €1.3m to €6.4m
of which Financial debts: +€4.2m
- Other debts +€2.2m
up €2.2m (+160.4%), from €1.4m to €3.6m
- Trade debts +€1.4m
up €1.4m (+112.1%), from €1.3m to €2.7m
- Reserves +€941,859
up €941,859 (+87.6%), from €1.1m to €2.0m
of which Distributable reserves: +€941,859
- Short-term financial debts -€604,602
down €604,602 (-69.1%), from €875,000 to €270,398
Income statement
- Turnover +€10.6m
up €10.6m (+92.5%), from €11.5m to €22.2m
- Goods and materials +€8.3m
up €8.3m (+104.9%), from €7.9m to €16.3m
of which Purchases: +€8.2m
- Staff costs +€970,947
up €970,947 (+45.7%), from €2.1m to €3.1m
- Services and other goods +€920,586
up €920,586 (+67.8%), from €1.4m to €2.3m
- Other operating income -€503,842
down €503,842 (-66.6%), from €756,044 to €252,201
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.
Result 2024
€335,886
Turnover
+€10.6m
Other operating income
-€503,842
Goods and materials
-€8.3m
Services and other goods
-€920,586
Staff costs
-€970,947
Depreciation
-€109,804
Write-downs
-€28,710
Other operating charges
+€1,608
Other operating items
-€11,810
Financial income
+€96,709
Financial charges
-€106,537
Taxes
+€61,153
Result 2025
€156,669
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.
From operations
-€3.2m
Investment
-€1.1m
Financing
+€6.1m
Cash 2024
€95,699
From operations (derived)
-€3.2m
Net result for the year
+€156,669
Depreciation
+€309,364
Receivables after one year
-€450,000
Stocks and contracts
-€3.7m
Receivables within one year
-€3.0m
Deferred charges and accrued income
-€152,298
Trade debts
+€1.4m
Tax, wage and social debts
-€73,442
Other debts
+€2.2m
Accrued charges and deferred income
+€100,660
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Current investments
+€4,958
Financing
+€6.1m
Debts after one year
+€5.1m
Current portion of long-term debt
+€522,853
Short-term financial debts
-€604,602
Contributions, distributions and other
+€1.1m
Cash 2025
€1.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,695,066 | €16,644,956 | +€9.9m | +148.6% |
| Fixed assets | 21/28 | €853,217 | €1,629,761 | +€776,544 | +91.0% |
| Intangible fixed assets | 21 | €375,368 | €703,806 | +€328,437 | +87.5% |
| Tangible fixed assets | 22/27 | €477,849 | €922,356 | +€444,507 | +93.0% |
| Land and buildings | 22 | €278,481 | €235,148 | -€43,333 | -15.6% |
| Plant, machinery and equipment | 23 | €66,585 | €68,133 | +€1,549 | +2.3% |
| Furniture and vehicles | 24 | €25,947 | €92,117 | +€66,170 | +255.0% |
| Leasing and similar rights | 25 | €19,418 | €0 | -€19,418 | -100.0% |
| Other tangible fixed assets | 26 | €87,417 | €526,957 | +€439,540 | +502.8% |
| Financial fixed assets | 28 | - | €3,600 | +€3,600 | |
| Other financial fixed assets | 284/8 | - | €3,600 | +€3,600 | |
| Shares | 284 | - | €3,600 | +€3,600 | |
| Current assets | 29/58 | €5,841,850 | €15,015,195 | +€9.2m | +157.0% |
| Amounts receivable after more than one year | 29 | €0 | €450,000 | +€450,000 | |
| Other amounts receivable | 291 | €0 | €450,000 | +€450,000 | |
| Stocks and contracts in progress | 3 | €2,933,784 | €6,629,449 | +€3.7m | +126.0% |
| Stocks | 30/36 | €2,933,784 | €6,629,449 | +€3.7m | +126.0% |
| Goods purchased for resale | 34 | €2,933,784 | €6,629,449 | +€3.7m | +126.0% |
| Amounts receivable within one year | 40/41 | €2,725,625 | €5,768,199 | +€3.0m | +111.6% |
| Trade receivables | 40 | €1,480,610 | €4,153,661 | +€2.7m | +180.5% |
| Other amounts receivable | 41 | €1,245,015 | €1,614,538 | +€369,523 | +29.7% |
| Current investments | 50/53 | €4,958 | €0 | -€4,958 | -100.0% |
| Other investments | 51/53 | €4,958 | €0 | -€4,958 | -100.0% |
| Cash at bank and in hand | 54/58 | €95,699 | €1,933,467 | +€1.8m | +1920.4% |
| Deferred charges and accrued income | 490/1 | €81,783 | €234,081 | +€152,298 | +186.2% |
| Total equity and liabilities | 10/49 | €6,695,066 | €16,644,956 | +€9.9m | +148.6% |
| Equity | 10/15 | €1,242,671 | €2,457,539 | +€1.2m | +97.8% |
| Contributions | 10/11 | €166,896 | €439,905 | +€273,009 | +163.6% |
| Reserves | 13 | €1,075,775 | €2,017,634 | +€941,859 | +87.6% |
| Tax-exempt reserves | 132 | €16,348 | €16,348 | = | 0.0% |
| Distributable reserves | 133 | €1,059,427 | €2,001,286 | +€941,859 | +88.9% |
| Amounts payable | 17/49 | €5,452,396 | €14,187,418 | +€8.7m | +160.2% |
| Amounts payable after more than one year | 17 | €1,267,997 | €6,392,437 | +€5.1m | +404.1% |
| Financial debts | 170/4 | €1,267,997 | €5,492,437 | +€4.2m | +333.2% |
| Leasing and similar obligations | 172 | €946 | €0 | -€946 | -100.0% |
| Credit institutions | 173 | €1,191,451 | €4,816,837 | +€3.6m | +304.3% |
| Other loans | 174 | €75,600 | €675,600 | +€600,000 | +793.7% |
| Other amounts payable | 178/9 | - | €900,000 | +€900,000 | |
| Amounts payable within one year | 42/48 | €4,134,673 | €7,644,595 | +€3.5m | +84.9% |
| Current portion of amounts payable after more than one year | 42 | €221,707 | €744,560 | +€522,853 | +235.8% |
| Financial debts | 43 | €875,000 | €270,398 | -€604,602 | -69.1% |
| Credit institutions | 430/8 | €875,000 | €270,398 | -€604,602 | -69.1% |
| Trade debts | 44 | €1,278,264 | €2,711,415 | +€1.4m | +112.1% |
| Suppliers | 440/4 | €1,278,264 | €2,711,415 | +€1.4m | +112.1% |
| Taxes, remuneration and social security | 45 | €368,431 | €294,988 | -€73,442 | -19.9% |
| Taxes | 450/3 | €161,949 | €852 | -€161,097 | -99.5% |
| Remuneration and social security | 454/9 | €206,482 | €294,137 | +€87,655 | +42.5% |
| Other amounts payable | 47/48 | €1,391,272 | €3,623,234 | +€2.2m | +160.4% |
| Accrued charges and deferred income | 492/3 | €49,725 | €150,385 | +€100,660 | +202.4% |
| Operating income | 70/76A | €12,272,604 | €22,436,876 | +€10.2m | +82.8% |
| Turnover | 70 | €11,516,560 | €22,164,724 | +€10.6m | +92.5% |
| Other operating income | 74 | €756,044 | €252,201 | -€503,842 | -66.6% |
| Non-recurring operating income | 76A | - | €19,951 | +€19,951 | |
| Operating charges | 60/66A | €11,668,893 | €22,063,708 | +€10.4m | +89.1% |
| Goods for resale, raw materials and consumables | 60 | €7,947,564 | €16,282,179 | +€8.3m | +104.9% |
| Purchases | 600/8 | €8,651,348 | €16,876,469 | +€8.2m | +95.1% |
| Change in stocks: decrease (increase) | 609 | -€703,784 | -€594,290 | +€109,494 | +15.6% |
| Services and other goods | 61 | €1,357,801 | €2,278,387 | +€920,586 | +67.8% |
| Remuneration, social security and pensions | 62 | €2,123,559 | €3,094,506 | +€970,947 | +45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,560 | €309,364 | +€109,804 | +55.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,622 | €51,333 | +€28,710 | +126.9% |
| Other operating charges | 640/8 | €17,787 | €16,179 | -€1,608 | -9.0% |
| Non-recurring operating charges | 66A | €0 | €31,761 | +€31,761 | |
| Operating profit (loss) | 9901 | €603,711 | €373,168 | -€230,543 | -38.2% |
| Financial income | 75/76B | €73,029 | €169,738 | +€96,709 | +132.4% |
| Recurring financial income | 75 | €73,029 | €169,738 | +€96,709 | +132.4% |
| Income from current assets | 751 | €31,890 | €38,603 | +€6,713 | +21.0% |
| Other financial income | 752/9 | €41,139 | €131,135 | +€89,996 | +218.8% |
| Financial charges | 65/66B | €201,125 | €307,662 | +€106,537 | +53.0% |
| Recurring financial charges | 65 | €201,125 | €307,662 | +€106,537 | +53.0% |
| Debt charges | 650 | €162,361 | €247,348 | +€84,987 | +52.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €3,158 | +€3,158 | |
| Other financial charges | 652/9 | €38,764 | €57,156 | +€18,392 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €475,615 | €235,244 | -€240,371 | -50.5% |
| Income taxes | 67/77 | €139,729 | €78,576 | -€61,153 | -43.8% |
| Taxes | 670/3 | €140,000 | €78,719 | -€61,281 | -43.8% |
| Tax adjustments and reversals of tax provisions | 77 | €271 | €143 | -€128 | -47.2% |
| Profit (loss) for the period | 9904 | €335,886 | €156,669 | -€179,217 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €335,886 | €156,669 | -€179,217 | -53.4% |
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.