VDB Nova: 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 Nova
Largest movements
- Receivables within one year +€23,984
up €23,984 (+50.5%), from €47,537 to €71,521
of which Trade receivables: +€22,645
- Cash +€15,133
up €15,133 (+636.1%), from €2,379 to €17,512
mainly Net result for the year (+€18,572) and Other debts (+€9,553)
- Profit (loss) carried forward +€18,572
up €18,572 (+149.5%), from €12,420 to €30,991
- Other debts +€9,553
up €9,553 (+31.5%), from €30,282 to €39,835
- Tax, wage and social debts +€6,790
up €6,790 (+218.7%), from €3,105 to €9,895
- Trade debts +€5,011
up €5,011 (+237.6%), from €2,109 to €7,120
- Gross operating margin +€9,571
up €9,571 (+57.8%), from €16,551 to €26,122
- Taxes +€3,484
up €3,484 (+112.2%), from €3,105 to €6,589
- Other operating charges -€292
down €292 (-32.1%), from €912 to €620
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 | €49,916 | €89,842 | +€39,927 | +80.0% |
| Fixed assets | 21/28 | - | €810 | +€810 | |
| Tangible fixed assets | 22/27 | - | €810 | +€810 | |
| Plant, machinery and equipment | 23 | - | €810 | +€810 | |
| Current assets | 29/58 | €49,916 | €89,033 | +€39,117 | +78.4% |
| Amounts receivable within one year | 40/41 | €47,537 | €71,521 | +€23,984 | +50.5% |
| Trade receivables | 40 | €47,400 | €70,045 | +€22,645 | +47.8% |
| Other amounts receivable | 41 | €137 | €1,476 | +€1,340 | +980.5% |
| Cash at bank and in hand | 54/58 | €2,379 | €17,512 | +€15,133 | +636.1% |
| Total equity and liabilities | 10/49 | €49,916 | €89,842 | +€39,927 | +80.0% |
| Equity | 10/15 | €14,420 | €32,991 | +€18,572 | +128.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,420 | €30,991 | +€18,572 | +149.5% |
| Amounts payable | 17/49 | €35,496 | €56,851 | +€21,355 | +60.2% |
| Amounts payable within one year | 42/48 | €35,496 | €56,851 | +€21,355 | +60.2% |
| Trade debts | 44 | €2,109 | €7,120 | +€5,011 | +237.6% |
| Suppliers | 440/4 | €2,109 | €7,120 | +€5,011 | +237.6% |
| Taxes, remuneration and social security | 45 | €3,105 | €9,895 | +€6,790 | +218.7% |
| Taxes | 450/3 | €3,105 | €9,895 | +€6,790 | +218.7% |
| Other amounts payable | 47/48 | €30,282 | €39,835 | +€9,553 | +31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €206 | +€206 | |
| Other operating charges | 640/8 | €912 | €620 | -€292 | -32.1% |
| Gross operating margin | 9900 | €16,551 | €26,122 | +€9,571 | +57.8% |
| Operating profit (loss) | 9901 | €15,638 | €25,296 | +€9,658 | +61.8% |
| Financial charges | 65/66B | €114 | €135 | +€22 | +19.2% |
| Recurring financial charges | 65 | €114 | €135 | +€22 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €15,525 | €25,161 | +€9,636 | +62.1% |
| Income taxes | 67/77 | €3,105 | €6,589 | +€3,484 | +112.2% |
| Profit (loss) for the period | 9904 | €12,420 | €18,572 | +€6,152 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,420 | €18,572 | +€6,152 | +49.5% |
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 11 October 2026 via checked.be.