VDB: 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.
VDB
Largest movements
- Tangible fixed assets -€10,702
down €10,702 (-4.7%), from €227,058 to €216,356
of which Land and buildings: -€10,010
- Receivables within one year +€5,988
up €5,988 (+36.8%), from €16,293 to €22,281
of which Other amounts receivable: +€4,354
- Cash +€2,892
up €2,892 (+29.4%), from €9,853 to €12,745
mainly Depreciation (+€10,702) and Net result for the year (+€10,485)
- Debts after one year -€12,956
down €12,956 (-7.6%), from €170,687 to €157,731
- Profit (loss) carried forward +€10,485
up €10,485 (+23.1%), from -€45,436 to -€34,951
- Taxes +€2,486
up €2,486 (+718%), from €346 to €2,832
- Other operating charges -€488
down €488 (-17.9%), from €2,731 to €2,243
- Financial charges -€474
down €474 (-6.2%), from €7,703 to €7,229
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 | €253,480 | €251,382 | -€2,098 | -0.8% |
| Fixed assets | 21/28 | €227,058 | €216,356 | -€10,702 | -4.7% |
| Tangible fixed assets | 22/27 | €227,058 | €216,356 | -€10,702 | -4.7% |
| Land and buildings | 22 | €225,170 | €215,160 | -€10,010 | -4.4% |
| Plant, machinery and equipment | 23 | €1,796 | €1,196 | -€600 | -33.4% |
| Furniture and vehicles | 24 | €91 | €0 | -€91 | -100% |
| Current assets | 29/58 | €26,422 | €35,025 | +€8,603 | +32.6% |
| Amounts receivable within one year | 40/41 | €16,293 | €22,281 | +€5,988 | +36.8% |
| Trade receivables | 40 | €7,524 | €9,157 | +€1,634 | +21.7% |
| Other amounts receivable | 41 | €8,769 | €13,123 | +€4,354 | +49.6% |
| Cash at bank and in hand | 54/58 | €9,853 | €12,745 | +€2,892 | +29.4% |
| Deferred charges and accrued income | 490/1 | €276 | €0 | -€276 | -100% |
| Total equity and liabilities | 10/49 | €253,480 | €251,382 | -€2,098 | -0.8% |
| Equity | 10/15 | €14,580 | €25,065 | +€10,485 | +71.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €53,816 | €53,816 | = | 0.0% |
| Distributable reserves | 133 | €53,816 | €53,816 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,436 | -€34,951 | +€10,485 | +23.1% |
| Amounts payable | 17/49 | €238,900 | €226,317 | -€12,583 | -5.3% |
| Amounts payable after more than one year | 17 | €170,687 | €157,731 | -€12,956 | -7.6% |
| Financial debts | 170/4 | €170,687 | €157,731 | -€12,956 | -7.6% |
| Amounts payable within one year | 42/48 | €68,213 | €68,586 | +€372 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €12,791 | €12,956 | +€164 | +1.3% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €548 | €593 | +€45 | +8.2% |
| Suppliers | 440/4 | €548 | €593 | +€45 | +8.2% |
| Taxes, remuneration and social security | 45 | €4,874 | €5,037 | +€163 | +3.3% |
| Taxes | 450/3 | €4,874 | €5,037 | +€163 | +3.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €58 | €126 | +€67 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,525 | €10,702 | +€177 | +1.7% |
| Other operating charges | 640/8 | €2,731 | €2,243 | -€488 | -17.9% |
| Gross operating margin | 9900 | €33,423 | €33,616 | +€193 | +0.6% |
| Operating profit (loss) | 9901 | €20,109 | €20,546 | +€437 | +2.2% |
| Financial income | 75/76B | €48 | €0 | -€48 | -100% |
| Recurring financial income | 75 | €48 | €0 | -€48 | -100% |
| Financial charges | 65/66B | €7,703 | €7,229 | -€474 | -6.2% |
| Recurring financial charges | 65 | €7,703 | €7,229 | -€474 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €12,454 | €13,317 | +€863 | +6.9% |
| Income taxes | 67/77 | €346 | €2,832 | +€2,486 | +718% |
| Profit (loss) for the period | 9904 | €12,108 | €10,485 | -€1,623 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,108 | €10,485 | -€1,623 | -13.4% |
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 15 October 2026 via checked.be.