VDB FINANCE: what changed
What changed
VDB FINANCE
filed annual accounts (NBB)
Net result for the year
€3,466
2024 · €1,225+€2,241
Equity
€160,404
2024 · €156,938+€3,466
Cash
€41,829
2024 · €44,290-€2,462
Balance sheet total
€209,176
2024 · €210,260-€1,084
Largest movements
Assets
- Tangible fixed assets +€3,715
up €3,715 (+41.2%), from €9,028 to €12,743
- Cash -€2,462
down €2,462 (-5.6%), from €44,290 to €41,829
mainly Investment in fixed assets (net) (-€6,415) and Trade debts (-€5,125)
Equity and liabilities
- Trade debts -€5,125
down €5,125 (-71.2%), from €7,198 to €2,073
- Profit (loss) carried forward +€3,466
up €3,466 (+11.0%), from €31,478 to €34,944
Income statement
- Gross operating margin +€5,067
up €5,067 (+181%), from €2,799 to €7,866
- Financial income -€1,556
down €1,556 (-89.9%), from €1,731 to €175
- Taxes +€1,428
new in 2025: €1,428
- Staff costs -€247
down €247 (-74.9%), from €329 to €83
- Depreciation +€164
up €164 (+6.5%), from €2,535 to €2,700
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1,225
Gross operating margin
+€5,067
Staff costs
+€247
Depreciation
-€164
Other operating charges
+€74
Financial income
-€1,556
Financial charges
+€2
Taxes
-€1,428
Result 2025
€3,466
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,953
Investment
-€6,415
Financing
€0
Cash 2024
€44,290
From operations (derived)
+€3,953
Net result for the year
+€3,466
Depreciation
+€2,700
Receivables within one year
+€1,741
Deferred charges and accrued income
+€596
Trade debts
-€5,125
Tax, wage and social debts
+€1,376
Other debts
-€34
Accrued charges and deferred income
-€766
Investment (derived)
-€6,415
Investment in fixed assets (net)
-€6,415
Cash 2025
€41,829
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,260 | €209,176 | -€1,084 | -0.5% |
| Fixed assets | 21/28 | €9,028 | €12,743 | +€3,715 | +41.2% |
| Tangible fixed assets | 22/27 | €9,028 | €12,743 | +€3,715 | +41.2% |
| Plant, machinery and equipment | 23 | €9,028 | €12,743 | +€3,715 | +41.2% |
| Current assets | 29/58 | €201,233 | €196,433 | -€4,800 | -2.4% |
| Amounts receivable within one year | 40/41 | €150,715 | €148,974 | -€1,741 | -1.2% |
| Trade receivables | 40 | €83,904 | €24,146 | -€59,758 | -71.2% |
| Other amounts receivable | 41 | €66,811 | €124,828 | +€58,016 | +86.8% |
| Cash at bank and in hand | 54/58 | €44,290 | €41,829 | -€2,462 | -5.6% |
| Deferred charges and accrued income | 490/1 | €6,227 | €5,631 | -€596 | -9.6% |
| Total equity and liabilities | 10/49 | €210,260 | €209,176 | -€1,084 | -0.5% |
| Equity | 10/15 | €156,938 | €160,404 | +€3,466 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €106,860 | €106,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,000 | €105,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,478 | €34,944 | +€3,466 | +11.0% |
| Provisions and deferred taxes | 16 | €35,000 | €35,000 | = | 0.0% |
| Deferred taxes | 168 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable | 17/49 | €18,322 | €13,772 | -€4,550 | -24.8% |
| Amounts payable within one year | 42/48 | €13,113 | €9,330 | -€3,784 | -28.9% |
| Trade debts | 44 | €7,198 | €2,073 | -€5,125 | -71.2% |
| Suppliers | 440/4 | €7,198 | €2,073 | -€5,125 | -71.2% |
| Taxes, remuneration and social security | 45 | - | €1,376 | +€1,376 | |
| Taxes | 450/3 | - | €1,376 | +€1,376 | |
| Other amounts payable | 47/48 | €5,915 | €5,881 | -€34 | -0.6% |
| Accrued charges and deferred income | 492/3 | €5,209 | €4,443 | -€766 | -14.7% |
| Remuneration, social security and pensions | 62 | €329 | €83 | -€247 | -74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,535 | €2,700 | +€164 | +6.5% |
| Other operating charges | 640/8 | €224 | €150 | -€74 | -33.0% |
| Gross operating margin | 9900 | €2,799 | €7,866 | +€5,067 | +181% |
| Operating profit (loss) | 9901 | -€290 | €4,934 | +€5,224 | |
| Financial income | 75/76B | €1,731 | €175 | -€1,556 | -89.9% |
| Recurring financial income | 75 | €1,731 | €175 | -€1,556 | -89.9% |
| Financial charges | 65/66B | €217 | €215 | -€2 | -0.7% |
| Recurring financial charges | 65 | €217 | €215 | -€2 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €1,225 | €4,894 | +€3,669 | +300% |
| Income taxes | 67/77 | - | €1,428 | +€1,428 | |
| Profit (loss) for the period | 9904 | €1,225 | €3,466 | +€2,241 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €1,225 | €3,466 | +€2,241 | +183% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.