Vdb Shipping: what changed
Two fiscal 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 Shipping
Largest movements
- Tangible fixed assets -€527,568
down €527,568 (-7.7%), from €6.9m to €6.4m
of which Furniture and vehicles: -€522,071
- Receivables within one year +€76,597
up €76,597 (+30.7%), from €249,864 to €326,460
of which Trade receivables: +€38,528
- Debts after one year -€306,250
down €306,250 (-7.0%), from €4.4m to €4.1m
- Profit (loss) carried forward -€274,035
down €274,035 (-125.0%), from -€219,207 to -€493,242
- Other debts +€192,404
up €192,404 (+7.5%), from €2.6m to €2.8m
- Depreciation +€120,316
up €120,316 (+29.5%), from €407,252 to €527,568
- Gross operating margin +€104,578
up €104,578 (+28.1%), from €371,611 to €476,189
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 | €7,170,681 | €6,778,107 | -€392,574 | -5.5% |
| Fixed assets | 21/28 | €6,884,072 | €6,356,505 | -€527,568 | -7.7% |
| Tangible fixed assets | 22/27 | €6,884,072 | €6,356,505 | -€527,568 | -7.7% |
| Furniture and vehicles | 24 | €6,861,770 | €6,339,699 | -€522,071 | -7.6% |
| Other tangible fixed assets | 26 | €22,302 | €16,806 | -€5,497 | -24.6% |
| Current assets | 29/58 | €286,609 | €421,602 | +€134,994 | +47.1% |
| Amounts receivable within one year | 40/41 | €249,864 | €326,460 | +€76,597 | +30.7% |
| Trade receivables | 40 | €215,772 | €254,299 | +€38,528 | +17.9% |
| Other amounts receivable | 41 | €34,092 | €72,161 | +€38,069 | +111.7% |
| Cash at bank and in hand | 54/58 | €29,865 | €89,254 | +€59,389 | +198.9% |
| Deferred charges and accrued income | 490/1 | €6,880 | €5,889 | -€992 | -14.4% |
| Total equity and liabilities | 10/49 | €7,170,681 | €6,778,107 | -€392,574 | -5.5% |
| Equity | 10/15 | -€89,062 | -€363,097 | -€274,035 | -307.7% |
| Contributions | 10/11 | €130,145 | €130,145 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Outside capital | 11 | €130,145 | - | -€130,145 | |
| Other | 1109/19 | €130,145 | - | -€130,145 | |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€219,207 | -€493,242 | -€274,035 | -125.0% |
| Amounts payable | 17/49 | €7,259,743 | €7,141,204 | -€118,540 | -1.6% |
| Amounts payable after more than one year | 17 | €4,383,438 | €4,077,188 | -€306,250 | -7.0% |
| Financial debts | 170/4 | €4,383,438 | €4,077,188 | -€306,250 | -7.0% |
| Amounts payable within one year | 42/48 | €2,876,306 | €3,064,016 | +€187,710 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €306,250 | €306,250 | = | 0.0% |
| Trade debts | 44 | €5,303 | €441 | -€4,862 | -91.7% |
| Suppliers | 440/4 | €5,303 | €441 | -€4,862 | -91.7% |
| Taxes, remuneration and social security | 45 | - | €169 | +€169 | |
| Taxes | 450/3 | - | €169 | +€169 | |
| Other amounts payable | 47/48 | €2,564,752 | €2,757,156 | +€192,404 | +7.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407,252 | €527,568 | +€120,316 | +29.5% |
| Other operating charges | 640/8 | €1,760 | €1,635 | -€126 | -7.1% |
| Gross operating margin | 9900 | €371,611 | €476,189 | +€104,578 | +28.1% |
| Operating profit (loss) | 9901 | -€37,401 | -€53,013 | -€15,612 | -41.7% |
| Financial income | 75/76B | €58 | €644 | +€586 | +1003.2% |
| Recurring financial income | 75 | €58 | €644 | +€586 | +1003.2% |
| Financial charges | 65/66B | €224,221 | €221,666 | -€2,556 | -1.1% |
| Recurring financial charges | 65 | €224,221 | €221,666 | -€2,556 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | -€261,563 | -€274,035 | -€12,471 | -4.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€261,563 | -€274,035 | -€12,471 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€261,563 | -€274,035 | -€12,471 | -4.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.