VDBK: 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.
VDBK
Largest movements
- Cash +€2.0m
up €2.0m (+481.0%), from €415,158 to €2.4m
mainly Current investments (+€1.6m) and Trade debts (+€647,507)
- Current investments -€1.6m
down €1.6m (-100.0%), from €1.6m to €0
- Receivables within one year +€621,859
up €621,859 (+53.0%), from €1.2m to €1.8m
of which Trade receivables: +€415,978
- Trade debts +€647,507
up €647,507 (+45.8%), from €1.4m to €2.1m
- Tax, wage and social debts +€250,921
up €250,921 (+262.1%), from €95,725 to €346,646
of which Taxes: +€167,795
- Other debts -€200,000
down €200,000 (-14.3%), from €1.4m to €1.2m
- Accrued charges and deferred income +€161,389
up €161,389 (+25.2%), from €639,779 to €801,168
- Profit (loss) carried forward +€110,581
up €110,581 (+20.3%), from -€545,599 to -€435,018
- Services and other goods -€5.3m
no longer reported in 2025 (was €5.3m)
- Turnover -€3.9m
no longer reported in 2025 (was €3.9m)
- Other operating income -€2.8m
no longer reported in 2025 (was €2.8m)
- Gross operating margin +€1.8m
new in 2025: €1.8m
- Staff costs +€515,060
up €515,060 (+93.0%), from €553,757 to €1.1m
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 | €3,203,542 | €4,261,359 | +€1.1m | +33.0% |
| Current assets | 29/58 | €3,203,542 | €4,261,359 | +€1.1m | +33.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,174,273 | €1,796,132 | +€621,859 | +53.0% |
| Trade receivables | 40 | €1,067,063 | €1,483,041 | +€415,978 | +39.0% |
| Other amounts receivable | 41 | €107,210 | €313,091 | +€205,881 | +192.0% |
| Current investments | 50/53 | €1,600,000 | €0 | -€1.6m | -100.0% |
| Other investments | 51/53 | €1,600,000 | - | -€1.6m | |
| Cash at bank and in hand | 54/58 | €415,158 | €2,412,201 | +€2.0m | +481.0% |
| Deferred charges and accrued income | 490/1 | €14,111 | €53,027 | +€38,916 | +275.8% |
| Total equity and liabilities | 10/49 | €3,203,542 | €4,261,359 | +€1.1m | +33.0% |
| Equity | 10/15 | -€345,599 | -€235,018 | +€110,581 | +32.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,599 | -€435,018 | +€110,581 | +20.3% |
| Provisions and deferred taxes | 16 | - | €87,420 | +€87,420 | |
| Provisions for liabilities and charges | 160/5 | - | €87,420 | +€87,420 | |
| Other liabilities and charges | 164/5 | - | €87,420 | +€87,420 | |
| Amounts payable | 17/49 | €3,549,141 | €4,408,958 | +€859,817 | +24.2% |
| Amounts payable within one year | 42/48 | €2,909,362 | €3,607,790 | +€698,428 | +24.0% |
| Trade debts | 44 | €1,413,637 | €2,061,144 | +€647,507 | +45.8% |
| Suppliers | 440/4 | €1,413,637 | €2,061,144 | +€647,507 | +45.8% |
| Taxes, remuneration and social security | 45 | €95,725 | €346,646 | +€250,921 | +262.1% |
| Taxes | 450/3 | €4,955 | €172,750 | +€167,795 | +3386.3% |
| Remuneration and social security | 454/9 | €90,770 | €173,895 | +€83,126 | +91.6% |
| Other amounts payable | 47/48 | €1,400,000 | €1,200,000 | -€200,000 | -14.3% |
| Accrued charges and deferred income | 492/3 | €639,779 | €801,168 | +€161,389 | +25.2% |
| Operating income | 70/76A | €6,652,790 | - | -€6.7m | |
| Turnover | 70 | €3,864,022 | - | -€3.9m | |
| Other operating income | 74 | €2,782,986 | - | -€2.8m | |
| Non-recurring operating income | 76A | €5,783 | €0 | -€5,783 | -100.0% |
| Operating charges | 60/66A | €5,922,549 | - | -€5.9m | |
| Goods for resale, raw materials and consumables | 60 | €159,816 | - | -€159,816 | |
| Purchases | 600/8 | €159,816 | - | -€159,816 | |
| Services and other goods | 61 | €5,256,898 | - | -€5.3m | |
| Remuneration, social security and pensions | 62 | €553,757 | €1,068,817 | +€515,060 | +93.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€47,928 | €363,861 | +€411,789 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €87,420 | +€87,420 | |
| Other operating charges | 640/8 | €4 | €6 | +€2 | +44.8% |
| Non-recurring operating charges | 66A | €1 | €16 | +€15 | +1990.9% |
| Gross operating margin | 9900 | - | €1,809,582 | +€1.8m | |
| Operating profit (loss) | 9901 | €730,242 | €289,462 | -€440,780 | -60.4% |
| Financial income | 75/76B | €10,372 | €10,239 | -€133 | -1.3% |
| Recurring financial income | 75 | €10,372 | €10,239 | -€133 | -1.3% |
| Income from current assets | 751 | €10,126 | - | -€10,126 | |
| Other financial income | 752/9 | €246 | - | -€246 | |
| Financial charges | 65/66B | €69,317 | €47,211 | -€22,106 | -31.9% |
| Recurring financial charges | 65 | €69,317 | €47,211 | -€22,106 | -31.9% |
| Debt charges | 650 | €64,446 | - | -€64,446 | |
| Other financial charges | 652/9 | €4,871 | - | -€4,871 | |
| Profit (loss) for the period before taxes | 9903 | €671,297 | €252,490 | -€418,807 | -62.4% |
| Income taxes | 67/77 | €1,694 | €141,909 | +€140,215 | +8277.7% |
| Taxes | 670/3 | €1,694 | - | -€1,694 | |
| Profit (loss) for the period | 9904 | €669,603 | €110,581 | -€559,022 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €669,603 | €110,581 | -€559,022 | -83.5% |
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 10 October 2026 via checked.be.