VDB TECHNICS: 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 TECHNICS
Largest movements
- Tangible fixed assets +€16,911
up €16,911 (+33.1%), from €51,122 to €68,034
- Receivables within one year +€9,446
up €9,446 (+44.3%), from €21,305 to €30,751
of which Trade receivables: +€8,510
- Cash -€8,095
down €8,095 (-13.9%), from €58,449 to €50,353
mainly Investment in fixed assets (net) (-€24,776) and Net result for the year (-€15,723)
- Debts after one year +€23,525
up €23,525 (+62.9%), from €37,419 to €60,943
- Reserves -€15,834
down €15,834 (-72.4%), from €21,860 to €6,026
- Current portion of long-term debt +€9,150
up €9,150 (+66.0%), from €13,868 to €23,018
- Gross operating margin -€19,948
down €19,948, from €19,602 to -€346
- Depreciation -€7,109
down €7,109 (-47.5%), from €14,973 to €7,864
- Financial income -€395
down €395 (-100.0%), from €395 to €0
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 | €133,569 | €151,989 | +€18,420 | +13.8% |
| Fixed assets | 21/28 | €51,167 | €68,079 | +€16,911 | +33.1% |
| Tangible fixed assets | 22/27 | €51,122 | €68,034 | +€16,911 | +33.1% |
| Furniture and vehicles | 24 | €51,122 | €68,034 | +€16,911 | +33.1% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €82,402 | €83,911 | +€1,509 | +1.8% |
| Amounts receivable within one year | 40/41 | €21,305 | €30,751 | +€9,446 | +44.3% |
| Trade receivables | 40 | €15,106 | €23,615 | +€8,510 | +56.3% |
| Other amounts receivable | 41 | €6,199 | €7,135 | +€936 | +15.1% |
| Cash at bank and in hand | 54/58 | €58,449 | €50,353 | -€8,095 | -13.9% |
| Deferred charges and accrued income | 490/1 | €2,648 | €2,807 | +€159 | +6.0% |
| Total equity and liabilities | 10/49 | €133,569 | €151,989 | +€18,420 | +13.8% |
| Equity | 10/15 | €28,748 | €13,026 | -€15,723 | -54.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €21,860 | €6,026 | -€15,834 | -72.4% |
| Distributable reserves | 133 | €21,860 | €6,026 | -€15,834 | -72.4% |
| Profit (loss) carried forward | 14 | -€112 | €0 | +€112 | |
| Amounts payable | 17/49 | €104,821 | €138,964 | +€34,143 | +32.6% |
| Amounts payable after more than one year | 17 | €37,419 | €60,943 | +€23,525 | +62.9% |
| Financial debts | 170/4 | €37,419 | €60,943 | +€23,525 | +62.9% |
| Amounts payable within one year | 42/48 | €67,402 | €78,021 | +€10,619 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €13,868 | €23,018 | +€9,150 | +66.0% |
| Trade debts | 44 | €6,198 | €6,540 | +€343 | +5.5% |
| Suppliers | 440/4 | €6,198 | €6,540 | +€343 | +5.5% |
| Taxes, remuneration and social security | 45 | €561 | €525 | -€36 | -6.4% |
| Taxes | 450/3 | €561 | €525 | -€36 | -6.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €46,776 | €47,937 | +€1,162 | +2.5% |
| Non-recurring operating income | 76A | €9,774 | €0 | -€9,774 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,973 | €7,864 | -€7,109 | -47.5% |
| Other operating charges | 640/8 | €2,121 | €1,947 | -€175 | -8.2% |
| Non-recurring operating charges | 66A | - | €2,249 | +€2,249 | |
| Gross operating margin | 9900 | €19,602 | -€346 | -€19,948 | |
| Operating profit (loss) | 9901 | €2,507 | -€12,406 | -€14,913 | |
| Financial income | 75/76B | €395 | €0 | -€395 | -100.0% |
| Recurring financial income | 75 | €395 | €0 | -€395 | -100.0% |
| Financial charges | 65/66B | €3,480 | €3,317 | -€163 | -4.7% |
| Recurring financial charges | 65 | €3,480 | €3,317 | -€163 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€578 | -€15,723 | -€15,145 | -2,620% |
| Income taxes | 67/77 | €142 | €0 | -€142 | -100% |
| Profit (loss) for the period | 9904 | -€720 | -€15,723 | -€15,003 | -2,084% |
| Profit (loss) for the period to be appropriated | 9905 | -€720 | -€15,723 | -€15,003 | -2,084% |
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 14 October 2026 via checked.be.