VdB Montage: 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 Montage
Largest movements
- Receivables after one year +€30,000
up €30,000 (+42.9%), from €70,000 to €100,000
- Cash +€3,555
up €3,555, from €0 to €3,555
mainly Current portion of long-term debt (+€21,461) and Net result for the year (+€15,186)
- Receivables within one year -€3,509
down €3,509 (-38.1%), from €9,198 to €5,690
of which Trade receivables: -€4,520
- Tangible fixed assets -€1,316
down €1,316 (-11.2%), from €11,736 to €10,420
- Current portion of long-term debt +€21,461
up €21,461 (+477%), from €4,495 to €25,956
- Reserves +€15,186
up €15,186 (+34.3%), from €44,269 to €59,454
- Debts after one year -€4,224
down €4,224 (-48.6%), from €8,694 to €4,470
- Trade debts -€4,166
down €4,166 (-41.2%), from €10,111 to €5,946
- Short-term financial debts -€1,899
down €1,899 (-100%), from €1,899 to €0
- Gross operating margin +€16,671
up €16,671 (+391%), from €4,262 to €20,933
- Taxes +€3,965
up €3,965 (+486%), from €816 to €4,781
- Financial income +€1,001
up €1,001 (+66.7%), from €1,500 to €2,501
- Financial charges +€784
up €784 (+60.7%), from €1,291 to €2,075
- Other operating charges -€285
down €285 (-78.9%), from €361 to €76
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 | €90,934 | €119,665 | +€28,730 | +31.6% |
| Fixed assets | 21/28 | €11,736 | €10,420 | -€1,316 | -11.2% |
| Tangible fixed assets | 22/27 | €11,736 | €10,420 | -€1,316 | -11.2% |
| Furniture and vehicles | 24 | €11,736 | €10,420 | -€1,316 | -11.2% |
| Current assets | 29/58 | €79,198 | €109,245 | +€30,047 | +37.9% |
| Amounts receivable after more than one year | 29 | €70,000 | €100,000 | +€30,000 | +42.9% |
| Other amounts receivable | 291 | €70,000 | €100,000 | +€30,000 | +42.9% |
| Amounts receivable within one year | 40/41 | €9,198 | €5,690 | -€3,509 | -38.1% |
| Trade receivables | 40 | €8,762 | €4,242 | -€4,520 | -51.6% |
| Other amounts receivable | 41 | €436 | €1,448 | +€1,012 | +232% |
| Cash at bank and in hand | 54/58 | €0 | €3,555 | +€3,555 | |
| Total equity and liabilities | 10/49 | €90,934 | €119,665 | +€28,730 | +31.6% |
| Equity | 10/15 | €46,769 | €61,954 | +€15,186 | +32.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €44,269 | €59,454 | +€15,186 | +34.3% |
| Distributable reserves | 133 | €44,269 | €59,454 | +€15,186 | +34.3% |
| Amounts payable | 17/49 | €44,166 | €57,711 | +€13,545 | +30.7% |
| Amounts payable after more than one year | 17 | €8,694 | €4,470 | -€4,224 | -48.6% |
| Financial debts | 170/4 | €8,694 | €4,470 | -€4,224 | -48.6% |
| Amounts payable within one year | 42/48 | €35,472 | €53,240 | +€17,769 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €4,495 | €25,956 | +€21,461 | +477% |
| Financial debts | 43 | €1,899 | €0 | -€1,899 | -100% |
| Credit institutions | 430/8 | €1,899 | €0 | -€1,899 | -100% |
| Trade debts | 44 | €10,111 | €5,946 | -€4,166 | -41.2% |
| Suppliers | 440/4 | €10,111 | €5,946 | -€4,166 | -41.2% |
| Taxes, remuneration and social security | 45 | €16,033 | €16,927 | +€894 | +5.6% |
| Taxes | 450/3 | €16,033 | €16,927 | +€894 | +5.6% |
| Other amounts payable | 47/48 | €2,934 | €4,412 | +€1,478 | +50.4% |
| Non-recurring operating income | 76A | - | €30,653 | +€30,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,316 | €1,316 | = | 0.0% |
| Other operating charges | 640/8 | €361 | €76 | -€285 | -78.9% |
| Gross operating margin | 9900 | €4,262 | €20,933 | +€16,671 | +391% |
| Operating profit (loss) | 9901 | €2,585 | €19,541 | +€16,956 | +656% |
| Financial income | 75/76B | €1,500 | €2,501 | +€1,001 | +66.7% |
| Recurring financial income | 75 | €1,500 | €2,501 | +€1,001 | +66.7% |
| Financial charges | 65/66B | €1,291 | €2,075 | +€784 | +60.7% |
| Recurring financial charges | 65 | €1,291 | €2,075 | +€784 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €2,794 | €19,966 | +€17,173 | +615% |
| Income taxes | 67/77 | €816 | €4,781 | +€3,965 | +486% |
| Profit (loss) for the period | 9904 | €1,978 | €15,186 | +€13,208 | +668% |
| Profit (loss) for the period to be appropriated | 9905 | €1,978 | €15,186 | +€13,208 | +668% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.