VDB TRANS: 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 TRANS
Largest movements
- Tangible fixed assets +€192,936
up €192,936 (+20.8%), from €926,023 to €1.1m
of which Furniture and vehicles: +€166,347
- Stocks and contracts -€61,136
down €61,136 (-97.6%), from €62,636 to €1,500
- Cash -€55,742
down €55,742 (-24.8%), from €224,999 to €169,256
mainly Investment in fixed assets (net) (-€394,486) and Receivables within one year (-€52,068)
- Receivables within one year +€52,068
up €52,068 (+16.6%), from €314,144 to €366,212
of which Trade receivables: +€45,593
- Trade debts +€231,901
up €231,901 (+3075.8%), from €7,540 to €239,441
- Other debts -€51,783
down €51,783 (-59.7%), from €86,785 to €35,001
- Debts after one year -€34,448
down €34,448 (-6.2%), from €559,861 to €525,413
- Tax, wage and social debts -€20,760
down €20,760 (-27.7%), from €74,905 to €54,145
of which Taxes: -€21,546
- Gross operating margin -€91,467
down €91,467 (-9.4%), from €976,084 to €884,616
- Staff costs -€62,358
down €62,358 (-10.5%), from €591,745 to €529,387
- Depreciation +€33,324
up €33,324 (+19.8%), from €168,226 to €201,550
- Taxes -€20,168
down €20,168 (-93.8%), from €21,501 to €1,332
- Other operating charges +€13,751
up €13,751 (+12.1%), from €113,798 to €127,549
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 | €1,537,464 | €1,670,063 | +€132,599 | +8.6% |
| Fixed assets | 21/28 | €928,198 | €1,121,133 | +€192,936 | +20.8% |
| Tangible fixed assets | 22/27 | €926,023 | €1,118,958 | +€192,936 | +20.8% |
| Land and buildings | 22 | €541,442 | €575,932 | +€34,490 | +6.4% |
| Plant, machinery and equipment | 23 | €28,148 | €20,247 | -€7,901 | -28.1% |
| Furniture and vehicles | 24 | €356,432 | €522,779 | +€166,347 | +46.7% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €609,266 | €548,930 | -€60,337 | -9.9% |
| Stocks and contracts in progress | 3 | €62,636 | €1,500 | -€61,136 | -97.6% |
| Stocks | 30/36 | €62,636 | €1,500 | -€61,136 | -97.6% |
| Amounts receivable within one year | 40/41 | €314,144 | €366,212 | +€52,068 | +16.6% |
| Trade receivables | 40 | €251,494 | €297,087 | +€45,593 | +18.1% |
| Other amounts receivable | 41 | €62,650 | €69,125 | +€6,475 | +10.3% |
| Cash at bank and in hand | 54/58 | €224,999 | €169,256 | -€55,742 | -24.8% |
| Deferred charges and accrued income | 490/1 | €7,488 | €11,962 | +€4,474 | +59.8% |
| Total equity and liabilities | 10/49 | €1,537,464 | €1,670,063 | +€132,599 | +8.6% |
| Equity | 10/15 | €646,400 | €647,005 | +€605 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €364,342 | €364,342 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,680 | €108,680 | = | 0.0% |
| Distributable reserves | 133 | €255,662 | €255,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | €263,458 | €264,063 | +€605 | +0.2% |
| Amounts payable | 17/49 | €891,064 | €1,023,058 | +€131,994 | +14.8% |
| Amounts payable after more than one year | 17 | €559,861 | €525,413 | -€34,448 | -6.2% |
| Financial debts | 170/4 | €559,861 | €525,413 | -€34,448 | -6.2% |
| Amounts payable within one year | 42/48 | €331,203 | €497,645 | +€166,442 | +50.3% |
| Current portion of amounts payable after more than one year | 42 | €161,973 | €169,058 | +€7,085 | +4.4% |
| Trade debts | 44 | €7,540 | €239,441 | +€231,901 | +3075.8% |
| Suppliers | 440/4 | €7,540 | €239,441 | +€231,901 | +3075.8% |
| Taxes, remuneration and social security | 45 | €74,905 | €54,145 | -€20,760 | -27.7% |
| Taxes | 450/3 | €21,546 | - | -€21,546 | |
| Remuneration and social security | 454/9 | €53,360 | €54,145 | +€785 | +1.5% |
| Other amounts payable | 47/48 | €86,785 | €35,001 | -€51,783 | -59.7% |
| Remuneration, social security and pensions | 62 | €591,745 | €529,387 | -€62,358 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,226 | €201,550 | +€33,324 | +19.8% |
| Other operating charges | 640/8 | €113,798 | €127,549 | +€13,751 | +12.1% |
| Gross operating margin | 9900 | €976,084 | €884,616 | -€91,467 | -9.4% |
| Operating profit (loss) | 9901 | €102,314 | €26,130 | -€76,183 | -74.5% |
| Financial income | 75/76B | €96 | - | -€96 | |
| Recurring financial income | 75 | €96 | - | -€96 | |
| Financial charges | 65/66B | €27,652 | €24,193 | -€3,459 | -12.5% |
| Recurring financial charges | 65 | €27,652 | €24,193 | -€3,459 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €74,757 | €1,937 | -€72,820 | -97.4% |
| Income taxes | 67/77 | €21,501 | €1,332 | -€20,168 | -93.8% |
| Profit (loss) for the period | 9904 | €53,257 | €605 | -€52,651 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,257 | €605 | -€52,651 | -98.9% |
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 8 October 2026 via checked.be.