VDB INTERNATIONAL: 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 INTERNATIONAL
Largest movements
- Receivables within one year -€41,240
down €41,240 (-52.8%), from €78,128 to €36,888
of which Trade receivables: -€37,419
- Cash +€17,230
up €17,230 (+65.2%), from €26,443 to €43,673
mainly Receivables within one year (+€41,240) and Stocks and contracts (+€12,992)
- Stocks and contracts -€12,992
down €12,992 (-22.6%), from €57,416 to €44,423
- Deferred charges and accrued income +€8,471
new in 2025: €8,471
- Trade debts -€37,057
down €37,057 (-59.8%), from €61,990 to €24,933
- Reserves +€6,632
up €6,632 (+8.0%), from €82,533 to €89,165
of which Distributable reserves: +€6,632
- Financial charges +€9,714
up €9,714 (+742%), from €1,309 to €11,023
- Gross operating margin +€8,922
up €8,922 (+83.3%), from €10,714 to €19,635
- Other operating charges -€701
down €701 (-57.4%), from €1,221 to €520
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 | €164,105 | €134,471 | -€29,634 | -18.1% |
| Fixed assets | 21/28 | €2,118 | €1,015 | -€1,103 | -52.1% |
| Intangible fixed assets | 21 | €2,118 | €1,015 | -€1,103 | -52.1% |
| Current assets | 29/58 | €161,987 | €133,455 | -€28,531 | -17.6% |
| Stocks and contracts in progress | 3 | €57,416 | €44,423 | -€12,992 | -22.6% |
| Stocks | 30/36 | €57,416 | €44,423 | -€12,992 | -22.6% |
| Amounts receivable within one year | 40/41 | €78,128 | €36,888 | -€41,240 | -52.8% |
| Trade receivables | 40 | €53,854 | €16,435 | -€37,419 | -69.5% |
| Other amounts receivable | 41 | €24,274 | €20,453 | -€3,821 | -15.7% |
| Cash at bank and in hand | 54/58 | €26,443 | €43,673 | +€17,230 | +65.2% |
| Deferred charges and accrued income | 490/1 | - | €8,471 | +€8,471 | |
| Total equity and liabilities | 10/49 | €164,105 | €134,471 | -€29,634 | -18.1% |
| Equity | 10/15 | €101,283 | €107,915 | +€6,632 | +6.5% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €82,533 | €89,165 | +€6,632 | +8.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €80,658 | €87,290 | +€6,632 | +8.2% |
| Amounts payable | 17/49 | €62,822 | €26,556 | -€36,266 | -57.7% |
| Amounts payable within one year | 42/48 | €62,822 | €26,556 | -€36,266 | -57.7% |
| Trade debts | 44 | €61,990 | €24,933 | -€37,057 | -59.8% |
| Suppliers | 440/4 | €61,990 | €24,933 | -€37,057 | -59.8% |
| Taxes, remuneration and social security | 45 | €832 | €1,495 | +€663 | +79.7% |
| Taxes | 450/3 | €832 | €1,495 | +€663 | +79.7% |
| Other amounts payable | 47/48 | - | €128 | +€128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,134 | €1,103 | -€32 | -2.8% |
| Other operating charges | 640/8 | €1,221 | €520 | -€701 | -57.4% |
| Gross operating margin | 9900 | €10,714 | €19,635 | +€8,922 | +83.3% |
| Operating profit (loss) | 9901 | €8,359 | €18,013 | +€9,654 | +115% |
| Financial income | 75/76B | €115 | €305 | +€190 | +166% |
| Recurring financial income | 75 | €115 | €305 | +€190 | +166% |
| Financial charges | 65/66B | €1,309 | €11,023 | +€9,714 | +742% |
| Recurring financial charges | 65 | €1,309 | €11,023 | +€9,714 | +742% |
| Profit (loss) for the period before taxes | 9903 | €7,165 | €7,295 | +€131 | +1.8% |
| Income taxes | 67/77 | €651 | €663 | +€12 | +1.8% |
| Profit (loss) for the period | 9904 | €6,513 | €6,632 | +€119 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,513 | €6,632 | +€119 | +1.8% |
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 18 October 2026 via checked.be.