VdB-IT: 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-IT
Largest movements
- Deferred charges and accrued income -€116,044
down €116,044 (-99.5%), from €116,625 to €580
- Current investments +€49,210
up €49,210 (+32.8%), from €149,866 to €199,076
- Cash +€41,837
up €41,837 (+48.8%), from €85,785 to €127,622
mainly Deferred charges and accrued income (+€116,044) and Net result for the year (+€73,473)
- Receivables within one year +€18,971
up €18,971 (+119.4%), from €15,884 to €34,855
of which Trade receivables: +€19,375
- Reserves +€56,421
up €56,421 (+18.5%), from €305,137 to €361,559
- Debts after one year -€41,853
down €41,853 (-100.0%), from €41,853 to €0
- Current portion of long-term debt -€14,584
down €14,584 (-100.0%), from €14,584 to €0
- Tax, wage and social debts -€9,353
down €9,353 (-49.6%), from €18,854 to €9,501
- Gross operating margin -€15,453
down €15,453 (-11.3%), from €136,579 to €121,126
- Taxes -€5,505
down €5,505 (-13.3%), from €41,370 to €35,865
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.
Cash bridge derived
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 | €382,122 | €373,007 | -€9,115 | -2.4% |
| Fixed assets | 21/28 | €13,963 | €10,873 | -€3,090 | -22.1% |
| Tangible fixed assets | 22/27 | €13,963 | €10,873 | -€3,090 | -22.1% |
| Plant, machinery and equipment | 23 | €9,916 | €7,263 | -€2,654 | -26.8% |
| Furniture and vehicles | 24 | €4,047 | €3,610 | -€436 | -10.8% |
| Current assets | 29/58 | €368,159 | €362,134 | -€6,025 | -1.6% |
| Amounts receivable within one year | 40/41 | €15,884 | €34,855 | +€18,971 | +119.4% |
| Trade receivables | 40 | €15,428 | €34,803 | +€19,375 | +125.6% |
| Other amounts receivable | 41 | €457 | €53 | -€404 | -88.4% |
| Current investments | 50/53 | €149,866 | €199,076 | +€49,210 | +32.8% |
| Cash at bank and in hand | 54/58 | €85,785 | €127,622 | +€41,837 | +48.8% |
| Deferred charges and accrued income | 490/1 | €116,625 | €580 | -€116,044 | -99.5% |
| Total equity and liabilities | 10/49 | €382,122 | €373,007 | -€9,115 | -2.4% |
| Equity | 10/15 | €305,137 | €361,559 | +€56,421 | +18.5% |
| Reserves | 13 | €305,137 | €361,559 | +€56,421 | +18.5% |
| Distributable reserves | 133 | €305,137 | €361,559 | +€56,421 | +18.5% |
| Amounts payable | 17/49 | €76,985 | €11,448 | -€65,537 | -85.1% |
| Amounts payable after more than one year | 17 | €41,853 | €0 | -€41,853 | -100.0% |
| Financial debts | 170/4 | €41,853 | €0 | -€41,853 | -100.0% |
| Amounts payable within one year | 42/48 | €35,132 | €11,448 | -€23,684 | -67.4% |
| Current portion of amounts payable after more than one year | 42 | €14,584 | €0 | -€14,584 | -100.0% |
| Trade debts | 44 | €834 | €1,211 | +€376 | +45.1% |
| Suppliers | 440/4 | €834 | €1,211 | +€376 | +45.1% |
| Taxes, remuneration and social security | 45 | €18,854 | €9,501 | -€9,353 | -49.6% |
| Taxes | 450/3 | €18,854 | €9,501 | -€9,353 | -49.6% |
| Other amounts payable | 47/48 | €859 | €736 | -€123 | -14.3% |
| Non-recurring operating income | 76A | €6,938 | - | -€6,938 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,638 | €7,601 | +€963 | +14.5% |
| Other operating charges | 640/8 | €859 | €360 | -€500 | -58.2% |
| Gross operating margin | 9900 | €136,579 | €121,126 | -€15,453 | -11.3% |
| Operating profit (loss) | 9901 | €129,082 | €113,166 | -€15,916 | -12.3% |
| Financial income | 75/76B | €1,075 | - | -€1,075 | |
| Recurring financial income | 75 | €1,075 | - | -€1,075 | |
| Financial charges | 65/66B | €2,678 | €3,828 | +€1,150 | +43.0% |
| Recurring financial charges | 65 | €2,678 | €3,828 | +€1,150 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €127,479 | €109,338 | -€18,141 | -14.2% |
| Income taxes | 67/77 | €41,370 | €35,865 | -€5,505 | -13.3% |
| Profit (loss) for the period | 9904 | €86,109 | €73,473 | -€12,636 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,109 | €73,473 | -€12,636 | -14.7% |
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 9 October 2026 via checked.be.