VDB Ezaya: 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 Ezaya
Largest movements
- Current investments +€75,310
up €75,310 (+151%), from €50,007 to €125,316
- Tangible fixed assets +€11,818
new in 2025: €11,818
- Receivables within one year +€6,672
up €6,672 (+51.0%), from €13,072 to €19,744
of which Trade receivables: +€6,534
- Cash -€5,905
down €5,905 (-30.1%), from €19,646 to €13,742
mainly Current investments (-€75,310) and Investment in fixed assets (net) (-€13,008)
- Reserves +€73,901
up €73,901 (+136%), from €54,466 to €128,367
- Other debts +€9,098
up €9,098 (+648%), from €1,405 to €10,503
- Tax, wage and social debts +€4,632
up €4,632 (+20.3%), from €22,821 to €27,453
of which Taxes: +€4,625
- Gross operating margin +€25,959
up €25,959 (+37.4%), from €69,358 to €95,317
- Taxes +€5,580
up €5,580 (+39.7%), from €14,039 to €19,619
- Depreciation +€1,190
new in 2025: €1,190
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 | €82,725 | €170,620 | +€87,895 | +106% |
| Fixed assets | 21/28 | - | €11,818 | +€11,818 | |
| Tangible fixed assets | 22/27 | - | €11,818 | +€11,818 | |
| Land and buildings | 22 | - | €1,483 | +€1,483 | |
| Plant, machinery and equipment | 23 | - | €2,001 | +€2,001 | |
| Furniture and vehicles | 24 | - | €2,715 | +€2,715 | |
| Other tangible fixed assets | 26 | - | €5,618 | +€5,618 | |
| Current assets | 29/58 | €82,725 | €158,802 | +€76,077 | +92.0% |
| Amounts receivable within one year | 40/41 | €13,072 | €19,744 | +€6,672 | +51.0% |
| Trade receivables | 40 | €13,068 | €19,602 | +€6,534 | +50.0% |
| Other amounts receivable | 41 | €4 | €142 | +€138 | +3,692% |
| Current investments | 50/53 | €50,007 | €125,316 | +€75,310 | +151% |
| Cash at bank and in hand | 54/58 | €19,646 | €13,742 | -€5,905 | -30.1% |
| Total equity and liabilities | 10/49 | €82,725 | €170,620 | +€87,895 | +106% |
| Equity | 10/15 | €57,466 | €131,367 | +€73,901 | +129% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €54,466 | €128,367 | +€73,901 | +136% |
| Distributable reserves | 133 | €54,466 | €128,367 | +€73,901 | +136% |
| Amounts payable | 17/49 | €25,259 | €39,253 | +€13,994 | +55.4% |
| Amounts payable within one year | 42/48 | €25,259 | €39,253 | +€13,994 | +55.4% |
| Trade debts | 44 | €1,034 | €1,298 | +€264 | +25.5% |
| Suppliers | 440/4 | €1,034 | €1,298 | +€264 | +25.5% |
| Taxes, remuneration and social security | 45 | €22,821 | €27,453 | +€4,632 | +20.3% |
| Taxes | 450/3 | €22,821 | €27,446 | +€4,625 | +20.3% |
| Remuneration and social security | 454/9 | - | €7 | +€7 | |
| Other amounts payable | 47/48 | €1,405 | €10,503 | +€9,098 | +648% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,190 | +€1,190 | |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €69,358 | €95,317 | +€25,959 | +37.4% |
| Operating profit (loss) | 9901 | €69,358 | €93,999 | +€24,641 | +35.5% |
| Financial income | 75/76B | €10 | €452 | +€442 | +4,627% |
| Recurring financial income | 75 | €10 | €452 | +€442 | +4,627% |
| Financial charges | 65/66B | €863 | €931 | +€68 | +7.9% |
| Recurring financial charges | 65 | €863 | €931 | +€68 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €68,505 | €93,520 | +€25,015 | +36.5% |
| Income taxes | 67/77 | €14,039 | €19,619 | +€5,580 | +39.7% |
| Profit (loss) for the period | 9904 | €54,466 | €73,901 | +€19,435 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,466 | €73,901 | +€19,435 | +35.7% |
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 26 October 2026 via checked.be.