VDC Global: 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 Global
Largest movements
- Receivables within one year +€35,174
new in 2025: €35,174
of which Trade receivables: +€35,090
- Current investments +€19,000
new in 2025: €19,000
- Cash +€10,595
up €10,595 (+82.4%), from €12,852 to €23,446
mainly Net result for the year (+€52,008) and Tax, wage and social debts (+€11,526)
- Tangible fixed assets -€2,943
down €2,943 (-36.1%), from €8,155 to €5,212
- Reserves +€50,316
up €50,316 (+690%), from €7,291 to €57,607
- Tax, wage and social debts +€11,526
up €11,526 (+169%), from €6,840 to €18,366
of which Taxes: +€12,716
- Other debts +€2,080
new in 2025: €2,080
- Trade debts -€1,474
down €1,474 (-78.6%), from €1,875 to €401
of which Bills of exchange payable: -€1,000
- Gross operating margin +€58,069
up €58,069 (+474%), from €12,246 to €70,316
- Taxes +€11,712
up €11,712 (+437%), from €2,680 to €14,392
- Depreciation +€2,269
up €2,269 (+337%), from €674 to €2,943
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.
Derived cash bridge
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 | €21,006 | €83,454 | +€62,447 | +297% |
| Fixed assets | 21/28 | €8,155 | €5,212 | -€2,943 | -36.1% |
| Tangible fixed assets | 22/27 | €8,155 | €5,212 | -€2,943 | -36.1% |
| Furniture and vehicles | 24 | €8,155 | €5,212 | -€2,943 | -36.1% |
| Current assets | 29/58 | €12,852 | €78,242 | +€65,390 | +509% |
| Amounts receivable within one year | 40/41 | - | €35,174 | +€35,174 | |
| Trade receivables | 40 | - | €35,090 | +€35,090 | |
| Other amounts receivable | 41 | - | €84 | +€84 | |
| Current investments | 50/53 | - | €19,000 | +€19,000 | |
| Cash at bank and in hand | 54/58 | €12,852 | €23,446 | +€10,595 | +82.4% |
| Deferred charges and accrued income | 490/1 | - | €621 | +€621 | |
| Total equity and liabilities | 10/49 | €21,006 | €83,454 | +€62,447 | +297% |
| Equity | 10/15 | €12,291 | €62,607 | +€50,316 | +409% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €7,291 | €57,607 | +€50,316 | +690% |
| Distributable reserves | 133 | €7,291 | €57,607 | +€50,316 | +690% |
| Amounts payable | 17/49 | €8,715 | €20,847 | +€12,132 | +139% |
| Amounts payable within one year | 42/48 | €8,715 | €20,847 | +€12,132 | +139% |
| Trade debts | 44 | €1,875 | €401 | -€1,474 | -78.6% |
| Suppliers | 440/4 | €875 | €401 | -€474 | -54.1% |
| Bills of exchange payable | 441 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €6,840 | €18,366 | +€11,526 | +169% |
| Taxes | 450/3 | €5,650 | €18,366 | +€12,716 | +225% |
| Remuneration and social security | 454/9 | €1,190 | - | -€1,190 | |
| Other amounts payable | 47/48 | - | €2,080 | +€2,080 | |
| Remuneration, social security and pensions | 62 | €440 | - | -€440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €674 | €2,943 | +€2,269 | +337% |
| Other operating charges | 640/8 | €1,161 | €909 | -€252 | -21.7% |
| Gross operating margin | 9900 | €12,246 | €70,316 | +€58,069 | +474% |
| Operating profit (loss) | 9901 | €9,971 | €66,464 | +€56,493 | +567% |
| Financial charges | 65/66B | - | €64 | +€64 | |
| Recurring financial charges | 65 | - | €64 | +€64 | |
| Profit (loss) for the period before taxes | 9903 | €9,971 | €66,399 | +€56,428 | +566% |
| Income taxes | 67/77 | €2,680 | €14,392 | +€11,712 | +437% |
| Profit (loss) for the period | 9904 | €7,291 | €52,008 | +€44,716 | +613% |
| Profit (loss) for the period to be appropriated | 9905 | €7,291 | €52,008 | +€44,716 | +613% |
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 15 October 2026 via checked.be.