VDB Projectontwikkeling: 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 Projectontwikkeling
Largest movements
- Stocks and contracts +€856,114
up €856,114 (+123%), from €697,403 to €1.6m
- Cash +€193,157
up €193,157 (+18,218%), from €1,060 to €194,217
mainly Other debts (+€711,620) and Short-term financial debts (+€496,932)
- Receivables within one year +€36,460
up €36,460 (+17.3%), from €210,926 to €247,387
of which Trade receivables: +€235,047
- Other debts +€711,620
up €711,620 (+558%), from €127,480 to €839,100
- Short-term financial debts +€496,932
up €496,932 (+149%), from €333,068 to €830,000
- Debts after one year -€75,000
down €75,000 (-27.3%), from €275,000 to €200,000
- Provisions -€71,874
down €71,874 (-100%), from €71,874 to €0
- Trade debts +€45,935
up €45,935 (+169%), from €27,236 to €73,171
- Financial charges +€230,829
up €230,829, from -€210,978 to €19,851
- Provisions -€143,749
down €143,749, from €71,874 to -€71,874
- Gross operating margin -€62,415
down €62,415 (-568%), from -€10,990 to -€73,404
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 | €909,389 | €1,995,121 | +€1.1m | +119% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €909,389 | €1,995,121 | +€1.1m | +119% |
| Stocks and contracts in progress | 3 | €697,403 | €1,553,517 | +€856,114 | +123% |
| Stocks | 30/36 | €697,403 | €1,553,517 | +€856,114 | +123% |
| Amounts receivable within one year | 40/41 | €210,926 | €247,387 | +€36,460 | +17.3% |
| Trade receivables | 40 | - | €235,047 | +€235,047 | |
| Other amounts receivable | 41 | €210,926 | €12,340 | -€198,586 | -94.1% |
| Cash at bank and in hand | 54/58 | €1,060 | €194,217 | +€193,157 | +18,218% |
| Total equity and liabilities | 10/49 | €909,389 | €1,995,121 | +€1.1m | +119% |
| Equity | 10/15 | €74,731 | €52,850 | -€21,881 | -29.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €235,011 | €235,011 | = | 0.0% |
| Distributable reserves | 133 | €235,011 | €235,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€210,280 | -€232,161 | -€21,881 | -10.4% |
| Provisions and deferred taxes | 16 | €71,874 | €0 | -€71,874 | -100% |
| Provisions for liabilities and charges | 160/5 | €71,874 | €0 | -€71,874 | -100% |
| Other liabilities and charges | 164/5 | €71,874 | €0 | -€71,874 | -100% |
| Amounts payable | 17/49 | €762,784 | €1,942,271 | +€1.2m | +155% |
| Amounts payable after more than one year | 17 | €275,000 | €200,000 | -€75,000 | -27.3% |
| Financial debts | 170/4 | €275,000 | €200,000 | -€75,000 | -27.3% |
| Amounts payable within one year | 42/48 | €487,784 | €1,742,271 | +€1.3m | +257% |
| Financial debts | 43 | €333,068 | €830,000 | +€496,932 | +149% |
| Credit institutions | 430/8 | €333,068 | €830,000 | +€496,932 | +149% |
| Trade debts | 44 | €27,236 | €73,171 | +€45,935 | +169% |
| Suppliers | 440/4 | €27,236 | €73,171 | +€45,935 | +169% |
| Other amounts payable | 47/48 | €127,480 | €839,100 | +€711,620 | +558% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €71,874 | -€71,874 | -€143,749 | |
| Other operating charges | 640/8 | €100 | €500 | +€400 | +400% |
| Gross operating margin | 9900 | -€10,990 | -€73,404 | -€62,415 | -568% |
| Operating profit (loss) | 9901 | -€82,964 | -€2,030 | +€80,934 | +97.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | -€210,978 | €19,851 | +€230,829 | |
| Recurring financial charges | 65 | -€210,978 | €19,851 | +€230,829 | |
| Profit (loss) for the period before taxes | 9903 | €128,014 | -€21,881 | -€149,895 | |
| Profit (loss) for the period | 9904 | €128,014 | -€21,881 | -€149,895 | |
| Profit (loss) for the period to be appropriated | 9905 | €128,014 | -€21,881 | -€149,895 |
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 13 October 2026 via checked.be.