VDB INVEST: what changed
What changed
VDB INVEST
NACE 46.649, Wholesale of other machinery and equipment
filed annual accounts (NBB)
Net result for the year
€24,695
2024 · €5,318+€19,378
Equity
€1.9m
2024 · €1.9m+€24,695
Cash
€216,426
2024 · €138,781+€77,645
Balance sheet total
€2.2m
2024 · €2.3m-€80,283
Largest movements
Assets
- Tangible fixed assets -€144,445
down €144,445 (-7.2%), from €2.0m to €1.9m
of which Land and buildings: -€161,170
- Cash +€77,645
up €77,645 (+55.9%), from €138,781 to €216,426
mainly Depreciation (+€172,622) and Net result for the year (+€24,695)
Equity and liabilities
- Debts after one year -€112,500
down €112,500 (-54.5%), from €206,250 to €93,750
- Reserves +€24,695
up €24,695 (+1.8%), from €1.4m to €1.4m
of which Distributable reserves: +€24,695
Income statement
- Gross operating margin +€67,666
up €67,666 (+19.2%), from €352,232 to €419,898
- Staff costs +€39,700
up €39,700 (+30.4%), from €130,744 to €170,444
- Taxes +€8,791
up €8,791, from -€391 to €8,400
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
€5,318
Gross operating margin
+€67,666
Staff costs
-€39,700
Depreciation
+€447
Other operating charges
-€1,270
Financial income
+€363
Financial charges
+€663
Taxes
-€8,791
Result 2025
€24,695
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
+€218,322
Investment
-€28,177
Financing
-€112,500
Cash 2024
€138,781
From operations (derived)
+€218,322
Net result for the year
+€24,695
Depreciation
+€172,622
Receivables within one year
+€13,493
Deferred charges and accrued income
-€10
Trade debts
-€3,039
Tax, wage and social debts
+€10,560
Investment (derived)
-€28,177
Investment in fixed assets (net)
-€28,177
Financing
-€112,500
Debts after one year
-€112,500
Cash 2025
€216,426
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,251,454 | €2,171,170 | -€80,283 | -3.6% |
| Fixed assets | 21/28 | €2,008,624 | €1,864,179 | -€144,445 | -7.2% |
| Tangible fixed assets | 22/27 | €2,008,624 | €1,864,179 | -€144,445 | -7.2% |
| Land and buildings | 22 | €1,987,868 | €1,826,698 | -€161,170 | -8.1% |
| Plant, machinery and equipment | 23 | €8,733 | €22,836 | +€14,103 | +161% |
| Furniture and vehicles | 24 | €12,023 | €14,645 | +€2,622 | +21.8% |
| Current assets | 29/58 | €242,830 | €306,991 | +€64,162 | +26.4% |
| Amounts receivable within one year | 40/41 | €104,044 | €90,551 | -€13,493 | -13.0% |
| Trade receivables | 40 | €79,044 | €58,951 | -€20,093 | -25.4% |
| Other amounts receivable | 41 | €25,000 | €31,600 | +€6,600 | +26.4% |
| Cash at bank and in hand | 54/58 | €138,781 | €216,426 | +€77,645 | +55.9% |
| Deferred charges and accrued income | 490/1 | €5 | €15 | +€10 | +186% |
| Total equity and liabilities | 10/49 | €2,251,454 | €2,171,170 | -€80,283 | -3.6% |
| Equity | 10/15 | €1,887,463 | €1,912,159 | +€24,695 | +1.3% |
| Contributions | 10/11 | €512,000 | €512,000 | = | 0.0% |
| Capital | 10 | €512,000 | €512,000 | = | 0.0% |
| Issued capital | 100 | €512,000 | €512,000 | = | 0.0% |
| Reserves | 13 | €1,375,463 | €1,400,159 | +€24,695 | +1.8% |
| Non-distributable reserves | 130/1 | €51,200 | €51,200 | = | 0.0% |
| Legal reserve | 130 | €51,200 | €51,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,019 | €2,019 | = | 0.0% |
| Distributable reserves | 133 | €1,322,245 | €1,346,940 | +€24,695 | +1.9% |
| Amounts payable | 17/49 | €363,990 | €259,012 | -€104,979 | -28.8% |
| Amounts payable after more than one year | 17 | €206,250 | €93,750 | -€112,500 | -54.5% |
| Financial debts | 170/4 | €206,250 | €93,750 | -€112,500 | -54.5% |
| Amounts payable within one year | 42/48 | €157,740 | €165,262 | +€7,521 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €112,500 | €112,500 | = | 0.0% |
| Trade debts | 44 | €12,656 | €9,617 | -€3,039 | -24.0% |
| Suppliers | 440/4 | €12,656 | €9,617 | -€3,039 | -24.0% |
| Taxes, remuneration and social security | 45 | €32,584 | €43,144 | +€10,560 | +32.4% |
| Taxes | 450/3 | €10,254 | €13,507 | +€3,253 | +31.7% |
| Remuneration and social security | 454/9 | €22,331 | €29,638 | +€7,307 | +32.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €130,744 | €170,444 | +€39,700 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,069 | €172,622 | -€447 | -0.3% |
| Other operating charges | 640/8 | €40,543 | €41,813 | +€1,270 | +3.1% |
| Gross operating margin | 9900 | €352,232 | €419,898 | +€67,666 | +19.2% |
| Operating profit (loss) | 9901 | €7,877 | €35,019 | +€27,142 | +345% |
| Financial income | 75/76B | - | €363 | +€363 | |
| Recurring financial income | 75 | - | €363 | +€363 | |
| Financial charges | 65/66B | €2,950 | €2,287 | -€663 | -22.5% |
| Recurring financial charges | 65 | €2,950 | €2,287 | -€663 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €4,927 | €33,095 | +€28,169 | +572% |
| Income taxes | 67/77 | -€391 | €8,400 | +€8,791 | |
| Profit (loss) for the period | 9904 | €5,318 | €24,695 | +€19,378 | +364% |
| Profit (loss) for the period to be appropriated | 9905 | €5,318 | €24,695 | +€19,378 | +364% |
Next steps
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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 6 November 2026 via checked.be.