VDAD Services: 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.
VDAD Services
Largest movements
- Receivables within one year +€61,188
up €61,188 (+542.2%), from €11,285 to €72,472
of which Trade receivables: +€71,617
- Cash -€12,582
down €12,582 (-75.6%), from €16,646 to €4,064
mainly Receivables within one year (-€61,188) and Short-term financial debts (-€5,509)
- Tangible fixed assets -€9,567
down €9,567 (-81.0%), from €11,813 to €2,246
- Profit (loss) carried forward +€39,452
up €39,452 (+98.8%), from -€39,928 to -€476
- Short-term financial debts -€5,509
no longer reported in 2025 (was €5,509)
- Tax, wage and social debts +€3,841
up €3,841 (+294.5%), from €1,304 to €5,145
of which Taxes: +€2,561
- Trade debts +€1,448
up €1,448 (+363.9%), from €398 to €1,845
- Gross operating margin +€56,847
up €56,847, from -€2,446 to €54,401
- Depreciation -€5,091
down €5,091 (-34.7%), from €14,657 to €9,567
- Taxes +€2,772
up €2,772 (+1959.9%), from €141 to €2,914
- Other operating charges +€1,397
up €1,397 (+181.5%), from €770 to €2,167
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 | €39,743 | €78,975 | +€39,231 | +98.7% |
| Fixed assets | 21/28 | €11,813 | €2,246 | -€9,567 | -81.0% |
| Tangible fixed assets | 22/27 | €11,813 | €2,246 | -€9,567 | -81.0% |
| Furniture and vehicles | 24 | €11,813 | €2,246 | -€9,567 | -81.0% |
| Current assets | 29/58 | €27,930 | €76,728 | +€48,798 | +174.7% |
| Amounts receivable within one year | 40/41 | €11,285 | €72,472 | +€61,188 | +542.2% |
| Trade receivables | 40 | - | €71,617 | +€71,617 | |
| Other amounts receivable | 41 | €11,285 | €856 | -€10,429 | -92.4% |
| Cash at bank and in hand | 54/58 | €16,646 | €4,064 | -€12,582 | -75.6% |
| Deferred charges and accrued income | 490/1 | - | €192 | +€192 | |
| Total equity and liabilities | 10/49 | €39,743 | €78,975 | +€39,231 | +98.7% |
| Equity | 10/15 | €32,532 | €71,984 | +€39,452 | +121.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,860 | €53,860 | = | 0.0% |
| Distributable reserves | 133 | €53,860 | €53,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,928 | -€476 | +€39,452 | +98.8% |
| Amounts payable | 17/49 | €7,211 | €6,990 | -€221 | -3.1% |
| Amounts payable within one year | 42/48 | €7,211 | €6,990 | -€221 | -3.1% |
| Financial debts | 43 | €5,509 | - | -€5,509 | |
| Credit institutions | 430/8 | €5,509 | - | -€5,509 | |
| Trade debts | 44 | €398 | €1,845 | +€1,448 | +363.9% |
| Suppliers | 440/4 | €398 | €1,845 | +€1,448 | +363.9% |
| Taxes, remuneration and social security | 45 | €1,304 | €5,145 | +€3,841 | +294.5% |
| Taxes | 450/3 | €1,304 | €3,865 | +€2,561 | +196.4% |
| Remuneration and social security | 454/9 | - | €1,280 | +€1,280 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,657 | €9,567 | -€5,091 | -34.7% |
| Other operating charges | 640/8 | €770 | €2,167 | +€1,397 | +181.5% |
| Non-recurring operating charges | 66A | €656 | - | -€656 | |
| Gross operating margin | 9900 | -€2,446 | €54,401 | +€56,847 | |
| Operating profit (loss) | 9901 | -€18,529 | €42,668 | +€61,196 | |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €319 | €321 | +€2 | +0.7% |
| Recurring financial charges | 65 | €319 | €321 | +€2 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,848 | €42,366 | +€61,214 | |
| Income taxes | 67/77 | €141 | €2,914 | +€2,772 | +1959.9% |
| Profit (loss) for the period | 9904 | -€18,989 | €39,452 | +€58,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,989 | €39,452 | +€58,441 |
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 29 September 2026 via checked.be.