VDA Holding: 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.
VDA Holding
Largest movements
- Tangible fixed assets -€25,944
down €25,944 (-21.0%), from €123,742 to €97,798
of which Furniture and vehicles: -€18,521
- Cash -€14,186
down €14,186 (-51.6%), from €27,512 to €13,326
mainly Debts after one year (-€16,164) and Receivables within one year (-€13,592)
- Receivables within one year +€13,592
up €13,592 (+242.3%), from €5,610 to €19,202
of which Trade receivables: +€12,119
- Debts after one year -€16,164
down €16,164 (-28.2%), from €57,254 to €41,091
- Current portion of long-term debt -€9,907
down €9,907 (-38.0%), from €26,070 to €16,164
- Other debts +€6,215
up €6,215 (+139.9%), from €4,442 to €10,657
- Profit (loss) carried forward -€4,359
new in 2025: -€4,359
- Accrued charges and deferred income -€2,600
down €2,600 (-100.0%), from €2,600 to €0
- Gross operating margin -€6,963
down €6,963 (-16.9%), from €41,313 to €34,350
- Depreciation +€1,647
up €1,647 (+6.2%), from €26,677 to €28,324
- Financial charges -€1,402
down €1,402 (-13.4%), from €10,434 to €9,032
- Taxes -€1,305
down €1,305 (-81.0%), from €1,611 to €306
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 | €158,118 | €131,456 | -€26,662 | -16.9% |
| Fixed assets | 21/28 | €123,742 | €97,798 | -€25,944 | -21.0% |
| Tangible fixed assets | 22/27 | €123,742 | €97,798 | -€25,944 | -21.0% |
| Land and buildings | 22 | €34,596 | €30,481 | -€4,116 | -11.9% |
| Furniture and vehicles | 24 | €72,724 | €54,203 | -€18,521 | -25.5% |
| Other tangible fixed assets | 26 | €16,421 | €13,115 | -€3,307 | -20.1% |
| Current assets | 29/58 | €34,377 | €33,658 | -€719 | -2.1% |
| Stocks and contracts in progress | 3 | €1,255 | €1,130 | -€126 | -10.0% |
| Stocks | 30/36 | €1,255 | €1,130 | -€126 | -10.0% |
| Amounts receivable within one year | 40/41 | €5,610 | €19,202 | +€13,592 | +242.3% |
| Trade receivables | 40 | - | €12,119 | +€12,119 | |
| Other amounts receivable | 41 | €5,610 | €7,083 | +€1,473 | +26.3% |
| Cash at bank and in hand | 54/58 | €27,512 | €13,326 | -€14,186 | -51.6% |
| Total equity and liabilities | 10/49 | €158,118 | €131,456 | -€26,662 | -16.9% |
| Equity | 10/15 | €51,880 | €47,522 | -€4,359 | -8.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €50,880 | €50,880 | = | 0.0% |
| Distributable reserves | 133 | €50,880 | €50,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,359 | -€4,359 | |
| Amounts payable | 17/49 | €106,238 | €83,934 | -€22,304 | -21.0% |
| Amounts payable after more than one year | 17 | €57,254 | €41,091 | -€16,164 | -28.2% |
| Financial debts | 170/4 | €57,254 | €41,091 | -€16,164 | -28.2% |
| Amounts payable within one year | 42/48 | €46,384 | €42,844 | -€3,540 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €26,070 | €16,164 | -€9,907 | -38.0% |
| Trade debts | 44 | €5,212 | €3,693 | -€1,519 | -29.1% |
| Suppliers | 440/4 | €5,212 | €3,693 | -€1,519 | -29.1% |
| Taxes, remuneration and social security | 45 | €10,660 | €12,331 | +€1,671 | +15.7% |
| Taxes | 450/3 | €6,560 | €8,031 | +€1,471 | +22.4% |
| Remuneration and social security | 454/9 | €4,100 | €4,300 | +€200 | +4.9% |
| Other amounts payable | 47/48 | €4,442 | €10,657 | +€6,215 | +139.9% |
| Accrued charges and deferred income | 492/3 | €2,600 | €0 | -€2,600 | -100.0% |
| Non-recurring operating income | 76A | €3,336 | €0 | -€3,336 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,677 | €28,324 | +€1,647 | +6.2% |
| Other operating charges | 640/8 | €1,230 | €1,172 | -€57 | -4.6% |
| Gross operating margin | 9900 | €41,313 | €34,350 | -€6,963 | -16.9% |
| Operating profit (loss) | 9901 | €13,406 | €4,854 | -€8,553 | -63.8% |
| Financial income | 75/76B | €0 | €126 | +€126 | |
| Recurring financial income | 75 | €0 | €126 | +€126 | |
| Financial charges | 65/66B | €10,434 | €9,032 | -€1,402 | -13.4% |
| Recurring financial charges | 65 | €10,434 | €9,032 | -€1,402 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €2,972 | -€4,053 | -€7,025 | |
| Income taxes | 67/77 | €1,611 | €306 | -€1,305 | -81.0% |
| Profit (loss) for the period | 9904 | €1,361 | -€4,359 | -€5,720 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,361 | -€4,359 | -€5,720 |
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 10 October 2026 via checked.be.