VDB HOLDING: 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 HOLDING
Largest movements
- Cash +€51,294
up €51,294 (+66.6%), from €76,987 to €128,281
mainly Net result for the year (+€272,416) and Accrued charges and deferred income (+€18,296)
- Reserves +€272,416
up €272,416 (+31.1%), from €876,818 to €1.1m
- Debts after one year -€189,388
down €189,388 (-11.1%), from €1.7m to €1.5m
- Tax, wage and social debts -€40,808
down €40,808 (-32.4%), from €126,113 to €85,305
- Gross operating margin +€37,188
up €37,188 (+10.7%), from €348,438 to €385,626
- Taxes +€8,999
up €8,999 (+12.4%), from €72,430 to €81,429
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 | €3,356,714 | €3,417,685 | +€60,971 | +1.8% |
| Fixed assets | 21/28 | €3,200,812 | €3,200,812 | = | 0.0% |
| Financial fixed assets | 28 | €3,200,812 | €3,200,812 | = | 0.0% |
| Current assets | 29/58 | €155,902 | €216,873 | +€60,971 | +39.1% |
| Amounts receivable within one year | 40/41 | €78,915 | €88,592 | +€9,677 | +12.3% |
| Trade receivables | 40 | €0 | €31 | +€31 | |
| Other amounts receivable | 41 | €78,915 | €88,561 | +€9,646 | +12.2% |
| Cash at bank and in hand | 54/58 | €76,987 | €128,281 | +€51,294 | +66.6% |
| Total equity and liabilities | 10/49 | €3,356,714 | €3,417,685 | +€60,971 | +1.8% |
| Equity | 10/15 | €1,276,818 | €1,549,235 | +€272,416 | +21.3% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €876,818 | €1,149,235 | +€272,416 | +31.1% |
| Distributable reserves | 133 | €876,818 | €1,149,235 | +€272,416 | +31.1% |
| Amounts payable | 17/49 | €2,079,895 | €1,868,450 | -€211,445 | -10.2% |
| Amounts payable after more than one year | 17 | €1,702,619 | €1,513,231 | -€189,388 | -11.1% |
| Financial debts | 170/4 | €1,702,619 | €1,513,231 | -€189,388 | -11.1% |
| Amounts payable within one year | 42/48 | €315,650 | €275,297 | -€40,352 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €189,161 | €189,388 | +€227 | +0.1% |
| Trade debts | 44 | €144 | €372 | +€228 | +158% |
| Suppliers | 440/4 | €144 | €372 | +€228 | +158% |
| Taxes, remuneration and social security | 45 | €126,113 | €85,305 | -€40,808 | -32.4% |
| Taxes | 450/3 | €126,113 | €85,305 | -€40,808 | -32.4% |
| Other amounts payable | 47/48 | €232 | €232 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €61,626 | €79,922 | +€18,296 | +29.7% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €348,438 | €385,626 | +€37,188 | +10.7% |
| Operating profit (loss) | 9901 | €347,353 | €384,508 | +€37,155 | +10.7% |
| Financial charges | 65/66B | €31,427 | €30,663 | -€764 | -2.4% |
| Recurring financial charges | 65 | €31,427 | €30,663 | -€764 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €315,925 | €353,845 | +€37,920 | +12.0% |
| Income taxes | 67/77 | €72,430 | €81,429 | +€8,999 | +12.4% |
| Profit (loss) for the period | 9904 | €243,495 | €272,416 | +€28,921 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €243,495 | €272,416 | +€28,921 | +11.9% |
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 24 October 2026 via checked.be.