VDB TRANSIT: 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 TRANSIT
Largest movements
- Tangible fixed assets +€97,026
up €97,026 (+513%), from €18,916 to €115,943
of which Other tangible fixed assets: +€56,253
- Receivables within one year +€71,422
up €71,422 (+37.8%), from €188,728 to €260,150
of which Trade receivables: +€71,422
- Current investments +€10,980
up €10,980 (+27.5%), from €39,916 to €50,896
- Intangible fixed assets -€6,750
down €6,750 (-20.0%), from €33,750 to €27,000
- Reserves +€150,039
up €150,039 (+125%), from €120,413 to €270,452
- Trade debts -€50,132
down €50,132 (-38.0%), from €132,081 to €81,949
- Tax, wage and social debts +€23,646
up €23,646 (+16.1%), from €146,741 to €170,387
of which Taxes: +€12,052
- Debts after one year +€21,472
new in 2025: €21,472
- Current portion of long-term debt +€15,432
up €15,432, from €0 to €15,432
- Gross operating margin +€222,853
up €222,853 (+47.2%), from €471,863 to €694,715
- Staff costs +€80,895
up €80,895 (+22.7%), from €356,441 to €437,336
- Taxes +€40,933
up €40,933 (+110%), from €37,067 to €78,000
- Depreciation +€9,888
up €9,888 (+78.1%), from €12,662 to €22,549
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.
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 | €417,987 | €592,567 | +€174,580 | +41.8% |
| Fixed assets | 21/28 | €62,666 | €152,943 | +€90,276 | +144% |
| Intangible fixed assets | 21 | €33,750 | €27,000 | -€6,750 | -20.0% |
| Tangible fixed assets | 22/27 | €18,916 | €115,943 | +€97,026 | +513% |
| Plant, machinery and equipment | 23 | €12,663 | €133 | -€12,531 | -99.0% |
| Furniture and vehicles | 24 | €6,253 | €59,558 | +€53,304 | +852% |
| Other tangible fixed assets | 26 | - | €56,253 | +€56,253 | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €355,320 | €439,624 | +€84,304 | +23.7% |
| Amounts receivable within one year | 40/41 | €188,728 | €260,150 | +€71,422 | +37.8% |
| Trade receivables | 40 | €171,843 | €243,264 | +€71,422 | +41.6% |
| Other amounts receivable | 41 | €16,885 | €16,885 | = | 0.0% |
| Current investments | 50/53 | €39,916 | €50,896 | +€10,980 | +27.5% |
| Cash at bank and in hand | 54/58 | €126,602 | €127,103 | +€501 | +0.4% |
| Deferred charges and accrued income | 490/1 | €74 | €1,475 | +€1,401 | +1,896% |
| Total equity and liabilities | 10/49 | €417,987 | €592,567 | +€174,580 | +41.8% |
| Equity | 10/15 | €139,013 | €289,052 | +€150,039 | +108% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,413 | €270,452 | +€150,039 | +125% |
| Distributable reserves | 133 | €120,413 | €270,452 | +€150,039 | +125% |
| Amounts payable | 17/49 | €278,974 | €303,515 | +€24,542 | +8.8% |
| Amounts payable after more than one year | 17 | - | €21,472 | +€21,472 | |
| Financial debts | 170/4 | - | €21,472 | +€21,472 | |
| Amounts payable within one year | 42/48 | €278,822 | €282,044 | +€3,221 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €15,432 | +€15,432 | |
| Financial debts | 43 | €0 | €10,129 | +€10,129 | |
| Credit institutions | 430/8 | €0 | €10,129 | +€10,129 | |
| Trade debts | 44 | €132,081 | €81,949 | -€50,132 | -38.0% |
| Suppliers | 440/4 | €132,081 | €81,949 | -€50,132 | -38.0% |
| Taxes, remuneration and social security | 45 | €146,741 | €170,387 | +€23,646 | +16.1% |
| Taxes | 450/3 | €105,968 | €118,020 | +€12,052 | +11.4% |
| Remuneration and social security | 454/9 | €40,773 | €52,367 | +€11,594 | +28.4% |
| Other amounts payable | 47/48 | - | €4,147 | +€4,147 | |
| Accrued charges and deferred income | 492/3 | €151 | €0 | -€151 | -100% |
| Remuneration, social security and pensions | 62 | €356,441 | €437,336 | +€80,895 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,662 | €22,549 | +€9,888 | +78.1% |
| Other operating charges | 640/8 | €1,905 | €3,420 | +€1,515 | +79.5% |
| Gross operating margin | 9900 | €471,863 | €694,715 | +€222,853 | +47.2% |
| Operating profit (loss) | 9901 | €100,855 | €231,410 | +€130,556 | +129% |
| Financial income | 75/76B | €1,461 | €6,116 | +€4,655 | +319% |
| Recurring financial income | 75 | €1,461 | €6,116 | +€4,655 | +319% |
| Financial charges | 65/66B | €6,239 | €9,488 | +€3,249 | +52.1% |
| Recurring financial charges | 65 | €6,239 | €9,488 | +€3,249 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €96,077 | €228,039 | +€131,962 | +137% |
| Income taxes | 67/77 | €37,067 | €78,000 | +€40,933 | +110% |
| Profit (loss) for the period | 9904 | €59,010 | €150,039 | +€91,029 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €59,010 | €150,039 | +€91,029 | +154% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.