VD WOODS: 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 WOODS
Largest movements
- Tangible fixed assets -€34,493
down €34,493 (-90.8%), from €37,975 to €3,483
of which Plant, machinery and equipment: -€24,636
- Cash +€3,507
up €3,507 (+42.9%), from €8,178 to €11,685
mainly Investment in fixed assets (net) (+€29,307) and Depreciation (+€5,186)
- Receivables within one year -€1,978
down €1,978 (-73.0%), from €2,710 to €732
of which Trade receivables: -€1,566
- Profit (loss) carried forward -€30,927
down €30,927 (-150%), from -€20,606 to -€51,533
- Trade debts -€2,018
down €2,018 (-67.5%), from €2,989 to €971
- Other operating charges +€11,533
up €11,533 (+1,772%), from €651 to €12,184
- Depreciation -€2,000
down €2,000 (-27.8%), from €7,186 to €5,186
- Financial charges -€1,724
down €1,724 (-93.5%), from €1,843 to €119
- Gross operating margin -€688
down €688 (-11.3%), from -€6,079 to -€6,767
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 | €49,325 | €16,380 | -€32,945 | -66.8% |
| Fixed assets | 21/28 | €37,975 | €3,483 | -€34,493 | -90.8% |
| Tangible fixed assets | 22/27 | €37,975 | €3,483 | -€34,493 | -90.8% |
| Plant, machinery and equipment | 23 | €24,636 | - | -€24,636 | |
| Furniture and vehicles | 24 | €6,669 | €3,483 | -€3,186 | -47.8% |
| Assets under construction and advance payments | 27 | €6,671 | - | -€6,671 | |
| Current assets | 29/58 | €11,350 | €12,897 | +€1,548 | +13.6% |
| Amounts receivable within one year | 40/41 | €2,710 | €732 | -€1,978 | -73.0% |
| Trade receivables | 40 | €2,202 | €636 | -€1,566 | -71.1% |
| Other amounts receivable | 41 | €508 | €95 | -€412 | -81.2% |
| Cash at bank and in hand | 54/58 | €8,178 | €11,685 | +€3,507 | +42.9% |
| Deferred charges and accrued income | 490/1 | €462 | €481 | +€19 | +4.0% |
| Total equity and liabilities | 10/49 | €49,325 | €16,380 | -€32,945 | -66.8% |
| Equity | 10/15 | €7,204 | -€23,724 | -€30,927 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,610 | €21,610 | = | 0.0% |
| Distributable reserves | 133 | €21,610 | €21,610 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,606 | -€51,533 | -€30,927 | -150% |
| Amounts payable | 17/49 | €42,121 | €40,104 | -€2,018 | -4.8% |
| Amounts payable after more than one year | 17 | €21,500 | €21,500 | = | 0.0% |
| Other amounts payable | 178/9 | €21,500 | €21,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,758 | €15,740 | -€2,018 | -11.4% |
| Trade debts | 44 | €2,989 | €971 | -€2,018 | -67.5% |
| Suppliers | 440/4 | €2,989 | €971 | -€2,018 | -67.5% |
| Other amounts payable | 47/48 | €14,769 | €14,769 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,863 | €2,863 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,186 | €5,186 | -€2,000 | -27.8% |
| Other operating charges | 640/8 | €651 | €12,184 | +€11,533 | +1,772% |
| Non-recurring operating charges | 66A | - | €6,671 | +€6,671 | |
| Gross operating margin | 9900 | -€6,079 | -€6,767 | -€688 | -11.3% |
| Operating profit (loss) | 9901 | -€13,916 | -€30,808 | -€16,893 | -121% |
| Financial charges | 65/66B | €1,843 | €119 | -€1,724 | -93.5% |
| Recurring financial charges | 65 | €1,843 | €119 | -€1,724 | -93.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,759 | -€30,927 | -€15,169 | -96.3% |
| Profit (loss) for the period | 9904 | -€15,759 | -€30,927 | -€15,169 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,759 | -€30,927 | -€15,169 | -96.3% |
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 23 October 2026 via checked.be.