VDB TELECOMS: 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 TELECOMS
Largest movements
- Cash -€71,615
down €71,615 (-84.0%), from €85,227 to €13,612
mainly Net result for the year (-€75,601) and Deferred charges and accrued income (-€23,442)
- Receivables within one year -€37,559
down €37,559 (-38.8%), from €96,744 to €59,185
of which Trade receivables: -€67,641
- Deferred charges and accrued income +€23,442
up €23,442 (+288.0%), from €8,140 to €31,582
- Tangible fixed assets -€4,647
down €4,647 (-20.2%), from €22,971 to €18,323
of which Furniture and vehicles: -€4,361
- Profit (loss) carried forward -€75,601
down €75,601 (-54.6%), from €138,461 to €62,860
- Tax, wage and social debts -€19,326
down €19,326 (-54.0%), from €35,784 to €16,459
- Other debts +€5,724
new in 2025: €5,724
- Gross operating margin -€207,141
down €207,141 (-55.4%), from €373,818 to €166,678
- Staff costs -€89,416
down €89,416 (-28.2%), from €316,814 to €227,398
- Taxes -€10,733
down €10,733 (-90.1%), from €11,909 to €1,176
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 | €213,082 | €122,702 | -€90,380 | -42.4% |
| Fixed assets | 21/28 | €22,971 | €18,323 | -€4,647 | -20.2% |
| Tangible fixed assets | 22/27 | €22,971 | €18,323 | -€4,647 | -20.2% |
| Plant, machinery and equipment | 23 | €5,828 | €5,541 | -€287 | -4.9% |
| Furniture and vehicles | 24 | €17,143 | €12,782 | -€4,361 | -25.4% |
| Current assets | 29/58 | €190,111 | €104,379 | -€85,732 | -45.1% |
| Amounts receivable within one year | 40/41 | €96,744 | €59,185 | -€37,559 | -38.8% |
| Trade receivables | 40 | €86,119 | €18,478 | -€67,641 | -78.5% |
| Other amounts receivable | 41 | €10,624 | €40,707 | +€30,082 | +283.1% |
| Cash at bank and in hand | 54/58 | €85,227 | €13,612 | -€71,615 | -84.0% |
| Deferred charges and accrued income | 490/1 | €8,140 | €31,582 | +€23,442 | +288.0% |
| Total equity and liabilities | 10/49 | €213,082 | €122,702 | -€90,380 | -42.4% |
| Equity | 10/15 | €158,921 | €83,320 | -€75,601 | -47.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,461 | €62,860 | -€75,601 | -54.6% |
| Amounts payable | 17/49 | €54,161 | €39,382 | -€14,779 | -27.3% |
| Amounts payable within one year | 42/48 | €54,161 | €39,382 | -€14,779 | -27.3% |
| Trade debts | 44 | €18,377 | €17,200 | -€1,177 | -6.4% |
| Suppliers | 440/4 | €18,377 | €17,200 | -€1,177 | -6.4% |
| Taxes, remuneration and social security | 45 | €35,784 | €16,459 | -€19,326 | -54.0% |
| Remuneration and social security | 454/9 | €35,784 | €16,459 | -€19,326 | -54.0% |
| Other amounts payable | 47/48 | - | €5,724 | +€5,724 | |
| Remuneration, social security and pensions | 62 | €316,814 | €227,398 | -€89,416 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,340 | €13,175 | +€1,835 | +16.2% |
| Other operating charges | 640/8 | €1,394 | €923 | -€471 | -33.8% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €373,818 | €166,678 | -€207,141 | -55.4% |
| Operating profit (loss) | 9901 | €44,020 | -€74,818 | -€118,839 | |
| Financial income | 75/76B | - | €510 | +€510 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Non-recurring financial income | 76B | - | €494 | +€494 | |
| Financial charges | 65/66B | €155 | €116 | -€38 | -24.9% |
| Recurring financial charges | 65 | €155 | €116 | -€38 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €43,865 | -€74,425 | -€118,290 | |
| Income taxes | 67/77 | €11,909 | €1,176 | -€10,733 | -90.1% |
| Profit (loss) for the period | 9904 | €31,956 | -€75,601 | -€107,557 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,956 | -€75,601 | -€107,557 |
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.