VDB OG: 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 OG
Largest movements
- Stocks and contracts +€77,998
up €77,998 (+6.2%), from €1.3m to €1.3m
- Receivables within one year -€60,181
down €60,181 (-53.9%), from €111,719 to €51,538
of which Other amounts receivable: -€60,181
- Profit (loss) carried forward -€76,563
down €76,563 (-36.3%), from -€211,093 to -€287,657
- Short-term financial debts +€63,325
up €63,325 (+5.9%), from €1.1m to €1.1m
- Other debts +€38,753
up €38,753 (+118%), from €32,797 to €71,550
- Other operating charges -€22,198
down €22,198 (-98.7%), from €22,486 to €289
- Financial charges +€9,202
up €9,202 (+14.5%), from €63,658 to €72,860
- Gross operating margin +€2,710
up €2,710 (+44.2%), from -€6,125 to -€3,415
- Financial income -€138
no longer reported in 2025 (was €138)
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 | €1,367,213 | €1,384,939 | +€17,725 | +1.3% |
| Current assets | 29/58 | €1,367,213 | €1,384,939 | +€17,725 | +1.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,254,509 | €1,332,507 | +€77,998 | +6.2% |
| Stocks | 30/36 | €1,254,509 | €1,332,507 | +€77,998 | +6.2% |
| Amounts receivable within one year | 40/41 | €111,719 | €51,538 | -€60,181 | -53.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €111,719 | €51,538 | -€60,181 | -53.9% |
| Cash at bank and in hand | 54/58 | €764 | €894 | +€130 | +16.9% |
| Deferred charges and accrued income | 490/1 | €221 | - | -€221 | |
| Total equity and liabilities | 10/49 | €1,367,213 | €1,384,939 | +€17,725 | +1.3% |
| Equity | 10/15 | -€53,038 | -€129,602 | -€76,563 | -144% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €138,055 | €138,055 | = | 0.0% |
| Distributable reserves | 133 | €138,055 | €138,055 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,093 | -€287,657 | -€76,563 | -36.3% |
| Amounts payable | 17/49 | €1,420,252 | €1,514,540 | +€94,289 | +6.6% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,120,252 | €1,214,540 | +€94,289 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €494 | - | -€494 | |
| Financial debts | 43 | €1,077,000 | €1,140,325 | +€63,325 | +5.9% |
| Credit institutions | 430/8 | €1,077,000 | €1,140,325 | +€63,325 | +5.9% |
| Trade debts | 44 | €9,960 | €2,666 | -€7,294 | -73.2% |
| Suppliers | 440/4 | €9,960 | €2,666 | -€7,294 | -73.2% |
| Other amounts payable | 47/48 | €32,797 | €71,550 | +€38,753 | +118% |
| Other operating charges | 640/8 | €22,486 | €289 | -€22,198 | -98.7% |
| Gross operating margin | 9900 | -€6,125 | -€3,415 | +€2,710 | +44.2% |
| Operating profit (loss) | 9901 | -€28,611 | -€3,703 | +€24,907 | +87.1% |
| Financial income | 75/76B | €138 | - | -€138 | |
| Recurring financial income | 75 | €138 | - | -€138 | |
| Financial charges | 65/66B | €63,658 | €72,860 | +€9,202 | +14.5% |
| Recurring financial charges | 65 | €63,658 | €72,860 | +€9,202 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€92,131 | -€76,563 | +€15,567 | +16.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€92,131 | -€76,563 | +€15,567 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,131 | -€76,563 | +€15,567 | +16.9% |
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 15 October 2026 via checked.be.