VDA Projects: 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 Projects
Largest movements
- Cash +€21,080
up €21,080 (+38.9%), from €54,223 to €75,302
mainly Net result for the year (+€31,137) and Receivables after one year (+€10,443)
- Receivables within one year +€15,890
new in 2025: €15,890
of which Trade receivables: +€10,890
- Stocks and contracts +€15,000
new in 2025: €15,000
- Receivables after one year -€10,443
no longer reported in 2025 (was €10,443)
- Tangible fixed assets -€5,647
down €5,647 (-24.3%), from €23,207 to €17,560
of which Furniture and vehicles: -€5,538
- Profit (loss) carried forward +€31,137
up €31,137 (+53.1%), from €58,676 to €89,813
- Tax, wage and social debts +€6,588
up €6,588 (+38.5%), from €17,104 to €23,692
of which Taxes: +€6,588
- Trade debts -€2,764
down €2,764 (-26.6%), from €10,397 to €7,633
- Gross operating margin -€4,835
down €4,835 (-8.7%), from €55,776 to €50,941
- Depreciation +€1,399
up €1,399 (+23.3%), from €5,999 to €7,397
- Financial charges -€1,042
down €1,042 (-29.3%), from €3,554 to €2,511
- Taxes -€814
down €814 (-8.8%), from €9,222 to €8,408
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 | €89,177 | €125,176 | +€35,999 | +40.4% |
| Fixed assets | 21/28 | €23,207 | €17,560 | -€5,647 | -24.3% |
| Tangible fixed assets | 22/27 | €23,207 | €17,560 | -€5,647 | -24.3% |
| Plant, machinery and equipment | 23 | €307 | €198 | -€110 | -35.7% |
| Furniture and vehicles | 24 | €22,900 | €17,362 | -€5,538 | -24.2% |
| Current assets | 29/58 | €65,970 | €107,616 | +€41,647 | +63.1% |
| Amounts receivable after more than one year | 29 | €10,443 | - | -€10,443 | |
| Trade receivables | 290 | €10,443 | - | -€10,443 | |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Stocks | 30/36 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | - | €15,890 | +€15,890 | |
| Trade receivables | 40 | - | €10,890 | +€10,890 | |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €54,223 | €75,302 | +€21,080 | +38.9% |
| Deferred charges and accrued income | 490/1 | €1,304 | €1,424 | +€120 | +9.2% |
| Total equity and liabilities | 10/49 | €89,177 | €125,176 | +€35,999 | +40.4% |
| Equity | 10/15 | €61,676 | €92,813 | +€31,137 | +50.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,676 | €89,813 | +€31,137 | +53.1% |
| Amounts payable | 17/49 | €27,501 | €32,363 | +€4,862 | +17.7% |
| Amounts payable within one year | 42/48 | €27,501 | €32,363 | +€4,862 | +17.7% |
| Trade debts | 44 | €10,397 | €7,633 | -€2,764 | -26.6% |
| Suppliers | 440/4 | €10,397 | €7,633 | -€2,764 | -26.6% |
| Taxes, remuneration and social security | 45 | €17,104 | €23,692 | +€6,588 | +38.5% |
| Taxes | 450/3 | €15,904 | €22,492 | +€6,588 | +41.4% |
| Remuneration and social security | 454/9 | €1,200 | €1,200 | = | 0.0% |
| Other amounts payable | 47/48 | - | €1,038 | +€1,038 | |
| Remuneration, social security and pensions | 62 | €210 | - | -€210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,999 | €7,397 | +€1,399 | +23.3% |
| Other operating charges | 640/8 | €1,986 | €1,487 | -€498 | -25.1% |
| Gross operating margin | 9900 | €55,776 | €50,941 | -€4,835 | -8.7% |
| Operating profit (loss) | 9901 | €47,582 | €42,057 | -€5,525 | -11.6% |
| Financial charges | 65/66B | €3,554 | €2,511 | -€1,042 | -29.3% |
| Recurring financial charges | 65 | €3,554 | €2,511 | -€1,042 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €44,028 | €39,546 | -€4,483 | -10.2% |
| Income taxes | 67/77 | €9,222 | €8,408 | -€814 | -8.8% |
| Profit (loss) for the period | 9904 | €34,807 | €31,137 | -€3,669 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,807 | €31,137 | -€3,669 | -10.5% |
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 14 October 2026 via checked.be.