VDBS Projects: 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.
VDBS Projects
Largest movements
- Cash +€7,629
up €7,629 (+75.4%), from €10,123 to €17,752
mainly Net result for the year (+€7,115) and Accrued charges and deferred income (+€529)
- Stocks and contracts -€355
down €355 (-55.0%), from €645 to €290
- Receivables within one year -€301
down €301 (-34.4%), from €874 to €573
- Profit (loss) carried forward +€7,115
up €7,115 (+10311.6%), from €69 to €7,184
- Accrued charges and deferred income +€529
new in 2025: €529
- Other debts -€460
no longer reported in 2025 (was €460)
- Tax, wage and social debts -€340
down €340 (-13.3%), from €2,550 to €2,210
of which Remuneration and social security: -€510
- Gross operating margin +€14,668
up €14,668, from -€6,943 to €7,725
- Other operating charges +€259
up €259 (+168.2%), from €154 to €413
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 | €11,642 | €18,615 | +€6,973 | +59.9% |
| Current assets | 29/58 | €11,642 | €18,615 | +€6,973 | +59.9% |
| Stocks and contracts in progress | 3 | €645 | €290 | -€355 | -55.0% |
| Stocks | 30/36 | €645 | €290 | -€355 | -55.0% |
| Amounts receivable within one year | 40/41 | €874 | €573 | -€301 | -34.4% |
| Other amounts receivable | 41 | €874 | €573 | -€301 | -34.4% |
| Cash at bank and in hand | 54/58 | €10,123 | €17,752 | +€7,629 | +75.4% |
| Total equity and liabilities | 10/49 | €11,642 | €18,615 | +€6,973 | +59.9% |
| Equity | 10/15 | €8,124 | €15,239 | +€7,115 | +87.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69 | €7,184 | +€7,115 | +10311.6% |
| Amounts payable | 17/49 | €3,518 | €3,376 | -€142 | -4.0% |
| Amounts payable within one year | 42/48 | €3,518 | €2,847 | -€671 | -19.1% |
| Trade debts | 44 | €508 | €637 | +€129 | +25.4% |
| Suppliers | 440/4 | €508 | €637 | +€129 | +25.4% |
| Taxes, remuneration and social security | 45 | €2,550 | €2,210 | -€340 | -13.3% |
| Taxes | 450/3 | €1,050 | €1,220 | +€170 | +16.2% |
| Remuneration and social security | 454/9 | €1,500 | €990 | -€510 | -34.0% |
| Other amounts payable | 47/48 | €460 | - | -€460 | |
| Accrued charges and deferred income | 492/3 | - | €529 | +€529 | |
| Other operating charges | 640/8 | €154 | €413 | +€259 | +168.2% |
| Gross operating margin | 9900 | -€6,943 | €7,725 | +€14,668 | |
| Operating profit (loss) | 9901 | -€7,097 | €7,312 | +€14,409 | |
| Financial charges | 65/66B | €133 | €197 | +€64 | +48.1% |
| Recurring financial charges | 65 | €133 | €197 | +€64 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,230 | €7,115 | +€14,345 | |
| Profit (loss) for the period | 9904 | -€7,230 | €7,115 | +€14,345 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,230 | €7,115 | +€14,345 |
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 3 October 2026 via checked.be.