VDBM: 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.
VDBM
Largest movements
- Cash -€187,745
down €187,745 (-51.5%), from €364,393 to €176,647
mainly Current investments (-€180,000) and Contributions, distributions and other (-€53,204)
- Current investments +€180,000
up €180,000 (+67.6%), from €266,115 to €446,115
- Reserves -€25,842
down €25,842 (-4.7%), from €548,804 to €522,963
- Other debts +€10,862
up €10,862 (+1002.3%), from €1,084 to €11,946
- Financial income -€25,706
down €25,706 (-90.4%), from €28,434 to €2,728
- Taxes -€7,934
down €7,934 (-34.3%), from €23,112 to €15,177
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 | €723,875 | €708,520 | -€15,355 | -2.1% |
| Fixed assets | 21/28 | €2,444 | €1,885 | -€559 | -22.9% |
| Tangible fixed assets | 22/27 | €2,444 | €1,885 | -€559 | -22.9% |
| Furniture and vehicles | 24 | €2,444 | €1,885 | -€559 | -22.9% |
| Current assets | 29/58 | €721,430 | €706,635 | -€14,795 | -2.1% |
| Amounts receivable after more than one year | 29 | €70,164 | €70,164 | = | 0.0% |
| Other amounts receivable | 291 | €70,164 | €70,164 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,495 | - | -€5,495 | |
| Other amounts receivable | 41 | €5,495 | - | -€5,495 | |
| Current investments | 50/53 | €266,115 | €446,115 | +€180,000 | +67.6% |
| Cash at bank and in hand | 54/58 | €364,393 | €176,647 | -€187,745 | -51.5% |
| Deferred charges and accrued income | 490/1 | €15,264 | €13,709 | -€1,555 | -10.2% |
| Total equity and liabilities | 10/49 | €723,875 | €708,520 | -€15,355 | -2.1% |
| Equity | 10/15 | €718,804 | €692,963 | -€25,842 | -3.6% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €548,804 | €522,963 | -€25,842 | -4.7% |
| Distributable reserves | 133 | €548,804 | €522,963 | -€25,842 | -4.7% |
| Amounts payable | 17/49 | €5,070 | €15,557 | +€10,487 | +206.8% |
| Amounts payable within one year | 42/48 | €4,974 | €15,437 | +€10,464 | +210.4% |
| Trade debts | 44 | €1,809 | €1,574 | -€235 | -13.0% |
| Suppliers | 440/4 | €1,809 | €1,574 | -€235 | -13.0% |
| Taxes, remuneration and social security | 45 | €2,081 | €1,917 | -€164 | -7.9% |
| Taxes | 450/3 | €2,081 | €1,917 | -€164 | -7.9% |
| Other amounts payable | 47/48 | €1,084 | €11,946 | +€10,862 | +1002.3% |
| Accrued charges and deferred income | 492/3 | €97 | €120 | +€23 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €559 | +€207 | +58.7% |
| Other operating charges | 640/8 | €3,016 | €3,064 | +€47 | +1.6% |
| Gross operating margin | 9900 | €44,054 | €44,031 | -€23 | -0.1% |
| Operating profit (loss) | 9901 | €40,685 | €40,408 | -€278 | -0.7% |
| Financial income | 75/76B | €28,434 | €2,728 | -€25,706 | -90.4% |
| Recurring financial income | 75 | €28,434 | €2,728 | -€25,706 | -90.4% |
| Financial charges | 65/66B | €605 | €596 | -€9 | -1.5% |
| Recurring financial charges | 65 | €605 | €596 | -€9 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €68,515 | €42,540 | -€25,975 | -37.9% |
| Income taxes | 67/77 | €23,112 | €15,177 | -€7,934 | -34.3% |
| Profit (loss) for the period | 9904 | €45,403 | €27,362 | -€18,041 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,403 | €27,362 | -€18,041 | -39.7% |
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 1 October 2026 via checked.be.