VDB G&O: 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 G&O
Largest movements
- Receivables within one year +€19,348
up €19,348 (+139%), from €13,962 to €33,310
of which Other amounts receivable: +€23,189
- Cash -€8,760
down €8,760 (-31.0%), from €28,255 to €19,495
mainly Receivables within one year (-€19,348) and Accrued charges and deferred income (-€11,792)
- Tangible fixed assets +€5,758
up €5,758 (+267%), from €2,153 to €7,911
of which Plant, machinery and equipment: +€4,191
- Stocks and contracts +€2,000
new in 2025: €2,000
- Deferred charges and accrued income +€1,565
new in 2025: €1,565
- Profit (loss) carried forward +€14,609
up €14,609 (+116%), from €12,567 to €27,176
- Accrued charges and deferred income -€11,792
no longer reported in 2025 (was €11,792)
- Tax, wage and social debts +€11,024
up €11,024 (+61.0%), from €18,066 to €29,089
of which Remuneration and social security: +€5,918
- Trade debts +€6,070
up €6,070 (+420%), from €1,445 to €7,515
- Turnover -€146,868
no longer reported in 2025 (was €146,868)
- Gross operating margin +€136,635
up €136,635 (+239%), from €57,121 to €193,755
- Staff costs +€128,654
up €128,654 (+330%), from €38,935 to €167,589
- Purchases and services -€93,182
no longer reported in 2025 (was €93,182)
- Financial charges +€2,922
up €2,922 (+360%), from €812 to €3,734
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 | €48,870 | €68,780 | +€19,910 | +40.7% |
| Fixed assets | 21/28 | €6,653 | €12,411 | +€5,758 | +86.5% |
| Tangible fixed assets | 22/27 | €2,153 | €7,911 | +€5,758 | +267% |
| Plant, machinery and equipment | 23 | €2,153 | €6,344 | +€4,191 | +195% |
| Furniture and vehicles | 24 | - | €1,566 | +€1,566 | |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €42,217 | €56,369 | +€14,153 | +33.5% |
| Stocks and contracts in progress | 3 | - | €2,000 | +€2,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €13,962 | €33,310 | +€19,348 | +139% |
| Trade receivables | 40 | €7,535 | €3,694 | -€3,841 | -51.0% |
| Other amounts receivable | 41 | €6,427 | €29,616 | +€23,189 | +361% |
| Cash at bank and in hand | 54/58 | €28,255 | €19,495 | -€8,760 | -31.0% |
| Deferred charges and accrued income | 490/1 | - | €1,565 | +€1,565 | |
| Total equity and liabilities | 10/49 | €48,870 | €68,780 | +€19,910 | +40.7% |
| Equity | 10/15 | €17,567 | €32,176 | +€14,609 | +83.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,567 | €27,176 | +€14,609 | +116% |
| Amounts payable | 17/49 | €31,303 | €36,604 | +€5,301 | +16.9% |
| Amounts payable within one year | 42/48 | €19,511 | €36,604 | +€17,094 | +87.6% |
| Trade debts | 44 | €1,445 | €7,515 | +€6,070 | +420% |
| Suppliers | 440/4 | €1,445 | €7,515 | +€6,070 | +420% |
| Taxes, remuneration and social security | 45 | €18,066 | €29,089 | +€11,024 | +61.0% |
| Taxes | 450/3 | €4,561 | €9,667 | +€5,105 | +112% |
| Remuneration and social security | 454/9 | €13,504 | €19,423 | +€5,918 | +43.8% |
| Accrued charges and deferred income | 492/3 | €11,792 | - | -€11,792 | |
| Turnover | 70 | €146,868 | - | -€146,868 | |
| Goods, raw materials, services and sundry goods | 60/61 | €93,182 | - | -€93,182 | |
| Remuneration, social security and pensions | 62 | €38,935 | €167,589 | +€128,654 | +330% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102 | €1,457 | +€1,355 | +1,331% |
| Other operating charges | 640/8 | €515 | €1,069 | +€553 | +107% |
| Gross operating margin | 9900 | €57,121 | €193,755 | +€136,635 | +239% |
| Operating profit (loss) | 9901 | €17,568 | €23,640 | +€6,072 | +34.6% |
| Financial income | 75/76B | - | €163 | +€163 | |
| Recurring financial income | 75 | - | €163 | +€163 | |
| Financial charges | 65/66B | €812 | €3,734 | +€2,922 | +360% |
| Recurring financial charges | 65 | €812 | €3,734 | +€2,922 | +360% |
| Profit (loss) for the period before taxes | 9903 | €16,756 | €20,069 | +€3,313 | +19.8% |
| Income taxes | 67/77 | €4,189 | €5,460 | +€1,271 | +30.3% |
| Profit (loss) for the period | 9904 | €12,567 | €14,609 | +€2,042 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,567 | €14,609 | +€2,042 | +16.2% |
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 23 October 2026 via checked.be.