VDC & BO: 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.
What changed
VDC & BO
NACE 46.350, Wholesale trade
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€118,972
2023 · -€201,095+€82,123
Equity
€163,552
2023 · €282,525-€118,972
Cash
€28,365
2023 · €223,554-€195,190
Balance sheet total
€10.2m
2023 · €10.8m-€573,512
Largest movements
Assets
- Receivables within one year -€335,887
down €335,887 (-5.1%), from €6.6m to €6.3m
of which Trade receivables: -€308,354
- Cash -€195,190
down €195,190 (-87.3%), from €223,554 to €28,365
mainly Short-term financial debts (-€463,340) and Debts after one year (-€240,000)
Equity and liabilities
- Short-term financial debts -€463,340
down €463,340 (-8.2%), from €5.6m to €5.2m
- Trade debts +€454,208
up €454,208 (+14.3%), from €3.2m to €3.6m
- Debts after one year -€240,000
down €240,000 (-20.2%), from €1.2m to €946,036
of which Trade debts: -€240,000
- Current portion of long-term debt -€170,472
no longer reported in 2024 (was €170,472)
- Reserves -€118,972
down €118,972 (-65.2%), from €182,525 to €63,552
of which Distributable reserves: -€118,972
Income statement
- Turnover -€20.9m
down €20.9m (-15.0%), from €139.5m to €118.6m
- Goods and materials -€20.7m
down €20.7m (-15.2%), from €136.3m to €115.6m
of which Purchases: -€19.7m
From the 2023 result to the 2024 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.
Result 2023
-€201,095
Turnover
-€20.9m
Other operating income
-€11,725
Goods and materials
+€20.7m
Services and other goods
+€222,634
Staff costs
+€117,077
Depreciation
+€5,481
Write-downs
-€274,406
Other operating charges
+€206,347
Other operating items
+€94,507
Financial income
-€13,703
Financial charges
-€82,389
Taxes
+€236
Result 2024
-€118,972
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€788,729
Investment
-€110,107
Financing
-€873,812
Cash 2023
€223,554
From operations (derived)
+€788,729
Net result for the year
-€118,972
Depreciation
+€111,812
Receivables after one year
+€95,982
Stocks and contracts
-€76,461
Receivables within one year
+€335,887
Deferred charges and accrued income
+€21,209
Trade debts
+€454,208
Tax, wage and social debts
-€18,649
Accrued charges and deferred income
-€16,287
Investment (derived)
-€110,107
Investment in fixed assets (net)
-€110,107
Financing
-€873,812
Debts after one year
-€240,000
Current portion of long-term debt
-€170,472
Short-term financial debts
-€463,340
Cash 2024
€28,365
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,769,959 | €10,196,446 | -€573,512 | -5.3% |
| Fixed assets | 21/28 | €824,227 | €822,521 | -€1,706 | -0.2% |
| Intangible fixed assets | 21 | €180,676 | €255,007 | +€74,330 | +41.1% |
| Tangible fixed assets | 22/27 | €634,342 | €558,306 | -€76,036 | -12.0% |
| Plant, machinery and equipment | 23 | €99,553 | €79,514 | -€20,039 | -20.1% |
| Furniture and vehicles | 24 | €32,730 | €22,091 | -€10,640 | -32.5% |
| Other tangible fixed assets | 26 | €502,059 | €456,701 | -€45,358 | -9.0% |
| Financial fixed assets | 28 | €9,208 | €9,208 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,208 | €9,208 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,208 | €9,208 | = | 0.0% |
| Current assets | 29/58 | €9,945,732 | €9,373,925 | -€571,806 | -5.7% |
| Amounts receivable after more than one year | 29 | €577,342 | €481,360 | -€95,982 | -16.6% |
| Trade receivables | 290 | €577,342 | €481,360 | -€95,982 | -16.6% |
| Stocks and contracts in progress | 3 | €2,460,929 | €2,537,390 | +€76,461 | +3.1% |
| Stocks | 30/36 | €2,460,929 | €2,537,390 | +€76,461 | +3.1% |
| Goods purchased for resale | 34 | €2,460,929 | €2,537,390 | +€76,461 | +3.1% |
| Amounts receivable within one year | 40/41 | €6,615,410 | €6,279,523 | -€335,887 | -5.1% |
| Trade receivables | 40 | €6,510,449 | €6,202,095 | -€308,354 | -4.7% |
| Other amounts receivable | 41 | €104,961 | €77,427 | -€27,533 | -26.2% |
| Cash at bank and in hand | 54/58 | €223,554 | €28,365 | -€195,190 | -87.3% |
| Deferred charges and accrued income | 490/1 | €68,497 | €47,287 | -€21,209 | -31.0% |
| Total equity and liabilities | 10/49 | €10,769,959 | €10,196,446 | -€573,512 | -5.3% |
| Equity | 10/15 | €282,525 | €163,552 | -€118,972 | -42.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €182,525 | €63,552 | -€118,972 | -65.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €172,525 | €53,552 | -€118,972 | -69.0% |
| Amounts payable | 17/49 | €10,487,434 | €10,032,894 | -€454,540 | -4.3% |
| Amounts payable after more than one year | 17 | €1,186,036 | €946,036 | -€240,000 | -20.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Credit institutions | 173 | €0 | - | = | |
| Trade debts | 175 | €1,186,036 | €946,036 | -€240,000 | -20.2% |
| Suppliers | 1750 | €1,186,036 | €946,036 | -€240,000 | -20.2% |
| Amounts payable within one year | 42/48 | €9,278,487 | €9,080,234 | -€198,253 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €170,472 | - | -€170,472 | |
| Financial debts | 43 | €5,628,802 | €5,165,463 | -€463,340 | -8.2% |
| Credit institutions | 430/8 | €5,628,802 | €5,165,463 | -€463,340 | -8.2% |
| Trade debts | 44 | €3,171,378 | €3,625,586 | +€454,208 | +14.3% |
| Suppliers | 440/4 | €3,171,378 | €3,625,586 | +€454,208 | +14.3% |
| Taxes, remuneration and social security | 45 | €307,834 | €289,185 | -€18,649 | -6.1% |
| Taxes | 450/3 | €15,587 | €9,511 | -€6,076 | -39.0% |
| Remuneration and social security | 454/9 | €292,247 | €279,674 | -€12,573 | -4.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €22,911 | €6,624 | -€16,287 | -71.1% |
| Operating income | 70/76A | €139,859,847 | €119,031,681 | -€20.8m | -14.9% |
| Turnover | 70 | €139,480,072 | €118,600,521 | -€20.9m | -15.0% |
| Own construction capitalised | 72 | - | €74,036 | +€74,036 | |
| Other operating income | 74 | €344,692 | €332,966 | -€11,725 | -3.4% |
| Non-recurring operating income | 76A | €35,083 | €24,157 | -€10,926 | -31.1% |
| Operating charges | 60/66A | €139,799,092 | €118,792,948 | -€21.0m | -15.0% |
| Goods for resale, raw materials and consumables | 60 | €136,289,198 | €115,591,585 | -€20.7m | -15.2% |
| Purchases | 600/8 | €135,394,012 | €115,668,046 | -€19.7m | -14.6% |
| Change in stocks: decrease (increase) | 609 | €895,186 | -€76,461 | -€971,648 | |
| Services and other goods | 61 | €1,315,271 | €1,092,637 | -€222,634 | -16.9% |
| Remuneration, social security and pensions | 62 | €2,019,186 | €1,902,109 | -€117,077 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,293 | €111,812 | -€5,481 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€190,052 | €84,354 | +€274,406 | |
| Other operating charges | 640/8 | €213,196 | €6,849 | -€206,347 | -96.8% |
| Non-recurring operating charges | 66A | €35,000 | €3,602 | -€31,398 | -89.7% |
| Operating profit (loss) | 9901 | €60,755 | €238,733 | +€177,978 | +293% |
| Financial income | 75/76B | €46,080 | €32,378 | -€13,703 | -29.7% |
| Recurring financial income | 75 | €46,080 | €32,378 | -€13,703 | -29.7% |
| Income from current assets | 751 | €1,795 | €4,259 | +€2,465 | +137% |
| Other financial income | 752/9 | €44,286 | €28,118 | -€16,167 | -36.5% |
| Financial charges | 65/66B | €303,807 | €386,196 | +€82,389 | +27.1% |
| Recurring financial charges | 65 | €303,807 | €386,196 | +€82,389 | +27.1% |
| Debt charges | 650 | €251,235 | €329,029 | +€77,794 | +31.0% |
| Other financial charges | 652/9 | €52,572 | €57,167 | +€4,594 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | -€196,972 | -€115,085 | +€81,887 | +41.6% |
| Income taxes | 67/77 | €4,124 | €3,887 | -€236 | -5.7% |
| Taxes | 670/3 | €12,130 | €3,887 | -€8,242 | -68.0% |
| Tax adjustments and reversals of tax provisions | 77 | €8,006 | - | -€8,006 | |
| Profit (loss) for the period | 9904 | -€201,095 | -€118,972 | +€82,123 | +40.8% |
| Transfer from tax-exempt reserves | 789 | €252,600 | - | -€252,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,505 | -€118,972 | -€170,477 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.