VDC: 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.
VDC
Largest movements
- Receivables within one year +€21,495
up €21,495 (+2062.3%), from €1,042 to €22,537
of which Trade receivables: +€21,669
- Cash +€14,723
new in 2025: €14,723
mainly Net result for the year (+€34,076) and Short-term financial debts (+€4,417)
- Tangible fixed assets +€5,485
up €5,485 (+497.2%), from €1,103 to €6,588
- Profit (loss) carried forward +€34,076
up €34,076, from -€32,968 to €1,109
- Short-term financial debts +€4,417
up €4,417 (+23.8%), from €18,585 to €23,001
- Other debts -€2,615
down €2,615 (-21.9%), from €11,917 to €9,301
- Trade debts +€2,593
up €2,593 (+44.7%), from €5,802 to €8,395
- Tax, wage and social debts +€2,367
up €2,367 (+305.8%), from €774 to €3,141
- Gross operating margin +€61,123
up €61,123, from -€13,894 to €47,230
- Taxes +€3,018
up €3,018 (+2449.7%), from €123 to €3,141
- Other operating charges +€1,613
up €1,613 (+47.4%), from €3,407 to €5,020
- Depreciation +€1,083
up €1,083 (+112.8%), from €960 to €2,043
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 | €29,109 | €69,948 | +€40,839 | +140.3% |
| Formation expenses | 20 | €1,269 | €852 | -€417 | -32.8% |
| Fixed assets | 21/28 | €1,103 | €6,588 | +€5,485 | +497.2% |
| Tangible fixed assets | 22/27 | €1,103 | €6,588 | +€5,485 | +497.2% |
| Furniture and vehicles | 24 | €1,103 | €6,588 | +€5,485 | +497.2% |
| Current assets | 29/58 | €26,737 | €62,507 | +€35,771 | +133.8% |
| Stocks and contracts in progress | 3 | €24,250 | €23,900 | -€350 | -1.4% |
| Stocks | 30/36 | €24,250 | €23,900 | -€350 | -1.4% |
| Amounts receivable within one year | 40/41 | €1,042 | €22,537 | +€21,495 | +2062.3% |
| Trade receivables | 40 | - | €21,669 | +€21,669 | |
| Other amounts receivable | 41 | €1,042 | €868 | -€174 | -16.7% |
| Cash at bank and in hand | 54/58 | - | €14,723 | +€14,723 | |
| Deferred charges and accrued income | 490/1 | €1,445 | €1,347 | -€98 | -6.8% |
| Total equity and liabilities | 10/49 | €29,109 | €69,948 | +€40,839 | +140.3% |
| Equity | 10/15 | -€7,968 | €26,109 | +€34,076 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,968 | €1,109 | +€34,076 | |
| Amounts payable | 17/49 | €37,077 | €43,839 | +€6,762 | +18.2% |
| Amounts payable within one year | 42/48 | €37,077 | €43,839 | +€6,762 | +18.2% |
| Financial debts | 43 | €18,585 | €23,001 | +€4,417 | +23.8% |
| Credit institutions | 430/8 | €18,585 | €23,001 | +€4,417 | +23.8% |
| Trade debts | 44 | €5,802 | €8,395 | +€2,593 | +44.7% |
| Suppliers | 440/4 | €5,802 | €8,395 | +€2,593 | +44.7% |
| Taxes, remuneration and social security | 45 | €774 | €3,141 | +€2,367 | +305.8% |
| Taxes | 450/3 | €774 | €3,141 | +€2,367 | +305.8% |
| Other amounts payable | 47/48 | €11,917 | €9,301 | -€2,615 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €960 | €2,043 | +€1,083 | +112.8% |
| Other operating charges | 640/8 | €3,407 | €5,020 | +€1,613 | +47.4% |
| Gross operating margin | 9900 | -€13,894 | €47,230 | +€61,123 | |
| Operating profit (loss) | 9901 | -€18,260 | €40,167 | +€58,427 | |
| Financial income | 75/76B | €1 | €14 | +€14 | +1570.9% |
| Recurring financial income | 75 | €1 | €14 | +€14 | +1570.9% |
| Financial charges | 65/66B | €2,757 | €2,964 | +€207 | +7.5% |
| Recurring financial charges | 65 | €2,757 | €2,964 | +€207 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,016 | €37,218 | +€58,234 | |
| Income taxes | 67/77 | €123 | €3,141 | +€3,018 | +2449.7% |
| Profit (loss) for the period | 9904 | -€21,140 | €34,076 | +€55,216 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,140 | €34,076 | +€55,216 |
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 11 October 2026 via checked.be.