VDB KARWEIWERKEN: what changed
VDB KARWEIWERKEN
Largest movements
- Receivables within one year +€25,667
up €25,667 (+163%), from €15,716 to €41,382
of which Trade receivables: +€25,054
- Cash -€13,585
down €13,585 (-48.8%), from €27,867 to €14,282
mainly Contributions, distributions and other (-€26,350) and Receivables within one year (-€25,667)
- Tangible fixed assets -€4,884
down €4,884 (-35.2%), from €13,888 to €9,004
of which Furniture and vehicles: -€4,329
- Deferred charges and accrued income +€851
up €851 (+18.1%), from €4,706 to €5,558
- Other debts +€20,035
up €20,035 (+535%), from €3,744 to €23,779
- Profit (loss) carried forward -€19,408
down €19,408 (-100%), from €19,408 to €0
- Reserves +€6,866
up €6,866 (+46.7%), from €14,704 to €21,571
of which Distributable reserves: +€6,785
- Trade debts +€1,775
up €1,775 (+10.6%), from €16,719 to €18,494
- Tax, wage and social debts -€1,382
down €1,382 (-100%), from €1,382 to €0
of which Remuneration and social security: -€1,300
- Gross operating margin +€6,488
up €6,488 (+29.1%), from €22,316 to €28,804
- Taxes +€2,682
up €2,682 (+81.8%), from €3,280 to €5,962
- Financial charges +€1,345
up €1,345 (+1,689%), from €80 to €1,424
- Depreciation +€705
up €705 (+12.3%), from €5,725 to €6,430
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,177 | €70,226 | +€8,049 | +12.9% |
| Fixed assets | 21/28 | €13,888 | €9,004 | -€4,884 | -35.2% |
| Tangible fixed assets | 22/27 | €13,888 | €9,004 | -€4,884 | -35.2% |
| Plant, machinery and equipment | 23 | €5,241 | €4,686 | -€555 | -10.6% |
| Furniture and vehicles | 24 | €8,647 | €4,318 | -€4,329 | -50.1% |
| Current assets | 29/58 | €48,289 | €61,222 | +€12,933 | +26.8% |
| Amounts receivable within one year | 40/41 | €15,716 | €41,382 | +€25,667 | +163% |
| Trade receivables | 40 | €7,550 | €32,604 | +€25,054 | +332% |
| Other amounts receivable | 41 | €8,166 | €8,779 | +€613 | +7.5% |
| Cash at bank and in hand | 54/58 | €27,867 | €14,282 | -€13,585 | -48.8% |
| Deferred charges and accrued income | 490/1 | €4,706 | €5,558 | +€851 | +18.1% |
| Total equity and liabilities | 10/49 | €62,177 | €70,226 | +€8,049 | +12.9% |
| Equity | 10/15 | €40,312 | €27,771 | -€12,542 | -31.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,704 | €21,571 | +€6,866 | +46.7% |
| Non-distributable reserves | 130/1 | €0 | €81 | +€81 | |
| Reserves not available under the articles | 1311 | €0 | €81 | +€81 | |
| Distributable reserves | 133 | €14,704 | €21,490 | +€6,785 | +46.1% |
| Profit (loss) carried forward | 14 | €19,408 | €0 | -€19,408 | -100% |
| Amounts payable | 17/49 | €21,864 | €42,455 | +€20,591 | +94.2% |
| Amounts payable within one year | 42/48 | €21,864 | €42,455 | +€20,591 | +94.2% |
| Financial debts | 43 | €19 | €182 | +€163 | +860% |
| Credit institutions | 430/8 | €19 | €182 | +€163 | +860% |
| Trade debts | 44 | €16,719 | €18,494 | +€1,775 | +10.6% |
| Suppliers | 440/4 | €16,719 | €18,494 | +€1,775 | +10.6% |
| Taxes, remuneration and social security | 45 | €1,382 | €0 | -€1,382 | -100% |
| Taxes | 450/3 | €82 | €0 | -€82 | -100% |
| Remuneration and social security | 454/9 | €1,300 | €0 | -€1,300 | -100% |
| Other amounts payable | 47/48 | €3,744 | €23,779 | +€20,035 | +535% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,725 | €6,430 | +€705 | +12.3% |
| Other operating charges | 640/8 | €995 | €1,231 | +€236 | +23.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,316 | €28,804 | +€6,488 | +29.1% |
| Operating profit (loss) | 9901 | €15,597 | €21,143 | +€5,546 | +35.6% |
| Financial income | 75/76B | €8 | €52 | +€44 | +558% |
| Recurring financial income | 75 | €8 | €52 | +€44 | +558% |
| Financial charges | 65/66B | €80 | €1,424 | +€1,345 | +1,689% |
| Recurring financial charges | 65 | €80 | €1,424 | +€1,345 | +1,689% |
| Profit (loss) for the period before taxes | 9903 | €15,525 | €19,770 | +€4,245 | +27.3% |
| Income taxes | 67/77 | €3,280 | €5,962 | +€2,682 | +81.8% |
| Profit (loss) for the period | 9904 | €12,245 | €13,808 | +€1,563 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,245 | €13,808 | +€1,563 | +12.8% |
Next steps
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 2 November 2026 via checked.be.