VDA-VE: 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-VE
Largest movements
- Financial fixed assets +€11.7m
up €11.7m, from €0 to €11.7m
- Receivables within one year -€149,433
down €149,433 (-40.0%), from €373,581 to €224,148
of which Trade receivables: -€242,000
- Contributions +€11.7m
up €11.7m (+11,671%), from €100,000 to €11.8m
- Other debts -€144,306
down €144,306 (-100%), from €144,306 to €0
- Financial charges -€797,880
down €797,880 (-100.0%), from €797,946 to €66
of which Non-recurring financial charges: -€556,500
- Gross operating margin -€274,484
down €274,484, from €246,901 to -€27,584
- Taxes +€3,063
up €3,063 (+209%), from €1,469 to €4,531
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 | €446,639 | €11,913,655 | +€11.5m | +2,567% |
| Fixed assets | 21/28 | €0 | €11,670,999 | +€11.7m | |
| Financial fixed assets | 28 | €0 | €11,670,999 | +€11.7m | |
| Current assets | 29/58 | €446,639 | €242,657 | -€203,983 | -45.7% |
| Amounts receivable within one year | 40/41 | €373,581 | €224,148 | -€149,433 | -40.0% |
| Trade receivables | 40 | €242,000 | €0 | -€242,000 | -100% |
| Other amounts receivable | 41 | €131,581 | €224,148 | +€92,567 | +70.3% |
| Cash at bank and in hand | 54/58 | €73,058 | €18,508 | -€54,550 | -74.7% |
| Total equity and liabilities | 10/49 | €446,639 | €11,913,655 | +€11.5m | +2,567% |
| Equity | 10/15 | €150,843 | €11,791,213 | +€11.6m | +7,717% |
| Contributions | 10/11 | €100,000 | €11,770,999 | +€11.7m | +11,671% |
| Reserves | 13 | €3,593 | €3,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,593 | €3,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,250 | €16,622 | -€30,628 | -64.8% |
| Amounts payable | 17/49 | €295,796 | €122,442 | -€173,354 | -58.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €295,796 | €122,442 | -€173,354 | -58.6% |
| Trade debts | 44 | €122,271 | €122,442 | +€171 | +0.1% |
| Suppliers | 440/4 | €122,271 | €122,442 | +€171 | +0.1% |
| Taxes, remuneration and social security | 45 | €29,220 | €0 | -€29,220 | -100% |
| Taxes | 450/3 | €29,220 | €0 | -€29,220 | -100% |
| Other amounts payable | 47/48 | €144,306 | €0 | -€144,306 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €246,901 | -€27,584 | -€274,484 | |
| Operating profit (loss) | 9901 | €246,786 | -€27,710 | -€274,495 | |
| Financial income | 75/76B | - | €1,678 | +€1,678 | |
| Recurring financial income | 75 | - | €1,678 | +€1,678 | |
| Financial charges | 65/66B | €797,946 | €66 | -€797,880 | -100.0% |
| Recurring financial charges | 65 | €241,446 | €66 | -€241,380 | -100.0% |
| Non-recurring financial charges | 66B | €556,500 | €0 | -€556,500 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€551,160 | -€26,097 | +€525,063 | +95.3% |
| Income taxes | 67/77 | €1,469 | €4,531 | +€3,063 | +209% |
| Profit (loss) for the period | 9904 | -€552,629 | -€30,628 | +€522,001 | +94.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€552,629 | -€30,628 | +€522,001 | +94.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.