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 +€8,367
up €8,367 (+22.6%), from €37,036 to €45,403
of which Trade receivables: +€10,151
- Deferred charges and accrued income -€6,135
down €6,135 (-82.2%), from €7,468 to €1,333
- Cash -€5,376
down €5,376 (-56.0%), from €9,605 to €4,230
mainly Other debts (-€13,550) and Receivables within one year (-€8,367)
- Tangible fixed assets +€4,492
up €4,492 (+88.4%), from €5,082 to €9,575
of which Furniture and vehicles: +€4,426
- Stocks and contracts -€3,794
down €3,794 (-42.1%), from €9,013 to €5,220
- Other debts -€13,550
no longer reported in 2025 (was €13,550)
- Trade debts +€10,411
up €10,411 (+263.9%), from €3,945 to €14,357
- Profit (loss) carried forward +€1,080
up €1,080, from -€97 to €983
- Gross operating margin -€15,764
down €15,764 (-66.4%), from €23,748 to €7,985
- Taxes -€2,975
down €2,975 (-70.4%), from €4,228 to €1,253
- Depreciation +€1,368
up €1,368 (+113.0%), from €1,210 to €2,577
- Financial charges +€1,139
up €1,139 (+137.6%), from €828 to €1,967
- Other operating charges +€663
up €663 (+146.5%), from €453 to €1,116
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 | €68,965 | €66,719 | -€2,246 | -3.3% |
| Fixed assets | 21/28 | €5,842 | €10,534 | +€4,692 | +80.3% |
| Tangible fixed assets | 22/27 | €5,082 | €9,575 | +€4,492 | +88.4% |
| Plant, machinery and equipment | 23 | €2,059 | €2,125 | +€67 | +3.2% |
| Furniture and vehicles | 24 | €3,024 | €7,449 | +€4,426 | +146.4% |
| Financial fixed assets | 28 | €760 | €959 | +€200 | +26.3% |
| Current assets | 29/58 | €63,123 | €56,185 | -€6,938 | -11.0% |
| Stocks and contracts in progress | 3 | €9,013 | €5,220 | -€3,794 | -42.1% |
| Stocks | 30/36 | €9,013 | €5,220 | -€3,794 | -42.1% |
| Amounts receivable within one year | 40/41 | €37,036 | €45,403 | +€8,367 | +22.6% |
| Trade receivables | 40 | €31,207 | €41,357 | +€10,151 | +32.5% |
| Other amounts receivable | 41 | €5,829 | €4,045 | -€1,784 | -30.6% |
| Cash at bank and in hand | 54/58 | €9,605 | €4,230 | -€5,376 | -56.0% |
| Deferred charges and accrued income | 490/1 | €7,468 | €1,333 | -€6,135 | -82.2% |
| Total equity and liabilities | 10/49 | €68,965 | €66,719 | -€2,246 | -3.3% |
| Equity | 10/15 | €41,463 | €42,543 | +€1,080 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,360 | €35,360 | = | 0.0% |
| Distributable reserves | 133 | €35,360 | €35,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97 | €983 | +€1,080 | |
| Amounts payable | 17/49 | €27,502 | €24,176 | -€3,326 | -12.1% |
| Amounts payable within one year | 42/48 | €27,502 | €24,176 | -€3,326 | -12.1% |
| Financial debts | 43 | €176 | - | -€176 | |
| Credit institutions | 430/8 | €176 | - | -€176 | |
| Trade debts | 44 | €3,945 | €14,357 | +€10,411 | +263.9% |
| Suppliers | 440/4 | €3,945 | €14,357 | +€10,411 | +263.9% |
| Taxes, remuneration and social security | 45 | €9,830 | €9,819 | -€11 | -0.1% |
| Taxes | 450/3 | €7,305 | €7,294 | -€11 | -0.1% |
| Remuneration and social security | 454/9 | €2,525 | €2,525 | = | 0.0% |
| Other amounts payable | 47/48 | €13,550 | - | -€13,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,210 | €2,577 | +€1,368 | +113.0% |
| Other operating charges | 640/8 | €453 | €1,116 | +€663 | +146.5% |
| Gross operating margin | 9900 | €23,748 | €7,985 | -€15,764 | -66.4% |
| Operating profit (loss) | 9901 | €22,085 | €4,291 | -€17,794 | -80.6% |
| Financial income | 75/76B | €6 | €9 | +€4 | +64.2% |
| Recurring financial income | 75 | €6 | €9 | +€4 | +64.2% |
| Financial charges | 65/66B | €828 | €1,967 | +€1,139 | +137.6% |
| Recurring financial charges | 65 | €828 | €1,967 | +€1,139 | +137.6% |
| Profit (loss) for the period before taxes | 9903 | €21,263 | €2,333 | -€18,930 | -89.0% |
| Income taxes | 67/77 | €4,228 | €1,253 | -€2,975 | -70.4% |
| Profit (loss) for the period | 9904 | €17,035 | €1,080 | -€15,955 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,035 | €1,080 | -€15,955 | -93.7% |
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 11 October 2026 via checked.be.