VDC MILIEU: 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 MILIEU
Largest movements
- Receivables within one year +€67,763
up €67,763 (+23.4%), from €289,572 to €357,335
of which Trade receivables: +€63,403
- Stocks and contracts -€34,702
down €34,702 (-50.0%), from €69,386 to €34,684
- Tangible fixed assets +€26,298
up €26,298 (+5.9%), from €447,658 to €473,956
of which Furniture and vehicles: +€26,722
- Profit (loss) carried forward +€81,950
up €81,950 (+31.6%), from -€258,953 to -€177,003
- Other debts -€64,581
down €64,581 (-24.0%), from €269,349 to €204,769
- Tax, wage and social debts +€27,581
up €27,581 (+82.5%), from €33,438 to €61,019
of which Remuneration and social security: +€16,204
- Short-term financial debts +€23,795
up €23,795 (+15.4%), from €154,830 to €178,625
- Trade debts -€15,535
down €15,535 (-19.7%), from €78,662 to €63,127
- Staff costs +€69,913
up €69,913 (+35.9%), from €194,962 to €264,875
- Financial charges -€31,042
down €31,042 (-70.3%), from €44,136 to €13,094
of which Financial charges: -€16,051
- Gross operating margin +€25,027
up €25,027 (+6.8%), from €370,561 to €395,588
- Other operating charges -€12,795
down €12,795 (-90.8%), from €14,098 to €1,303
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 | €864,326 | €917,536 | +€53,210 | +6.2% |
| Fixed assets | 21/28 | €489,846 | €516,144 | +€26,298 | +5.4% |
| Tangible fixed assets | 22/27 | €447,658 | €473,956 | +€26,298 | +5.9% |
| Land and buildings | 22 | €84,373 | €65,272 | -€19,102 | -22.6% |
| Plant, machinery and equipment | 23 | €34,912 | €53,589 | +€18,677 | +53.5% |
| Furniture and vehicles | 24 | €243,262 | €269,984 | +€26,722 | +11.0% |
| Leasing and similar rights | 25 | €85,111 | €85,111 | = | 0.0% |
| Financial fixed assets | 28 | €42,188 | €42,188 | = | 0.0% |
| Current assets | 29/58 | €374,480 | €401,392 | +€26,912 | +7.2% |
| Stocks and contracts in progress | 3 | €69,386 | €34,684 | -€34,702 | -50.0% |
| Stocks | 30/36 | €69,386 | €34,684 | -€34,702 | -50.0% |
| Amounts receivable within one year | 40/41 | €289,572 | €357,335 | +€67,763 | +23.4% |
| Trade receivables | 40 | €289,104 | €352,508 | +€63,403 | +21.9% |
| Other amounts receivable | 41 | €467 | €4,827 | +€4,360 | +933% |
| Cash at bank and in hand | 54/58 | €8,140 | €3,324 | -€4,816 | -59.2% |
| Deferred charges and accrued income | 490/1 | €7,382 | €6,049 | -€1,334 | -18.1% |
| Total equity and liabilities | 10/49 | €864,326 | €917,536 | +€53,210 | +6.2% |
| Equity | 10/15 | €88,047 | €169,997 | +€81,950 | +93.1% |
| Contributions | 10/11 | €345,000 | €345,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€258,953 | -€177,003 | +€81,950 | +31.6% |
| Amounts payable | 17/49 | €776,279 | €747,539 | -€28,740 | -3.7% |
| Amounts payable after more than one year | 17 | €240,000 | €240,000 | = | 0.0% |
| Financial debts | 170/4 | €240,000 | €240,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €536,279 | €507,539 | -€28,740 | -5.4% |
| Financial debts | 43 | €154,830 | €178,625 | +€23,795 | +15.4% |
| Credit institutions | 430/8 | €154,830 | €178,625 | +€23,795 | +15.4% |
| Trade debts | 44 | €78,662 | €63,127 | -€15,535 | -19.7% |
| Suppliers | 440/4 | €78,662 | €63,127 | -€15,535 | -19.7% |
| Taxes, remuneration and social security | 45 | €33,438 | €61,019 | +€27,581 | +82.5% |
| Taxes | 450/3 | €9,643 | €21,020 | +€11,377 | +118% |
| Remuneration and social security | 454/9 | €23,795 | €39,998 | +€16,204 | +68.1% |
| Other amounts payable | 47/48 | €269,349 | €204,769 | -€64,581 | -24.0% |
| Remuneration, social security and pensions | 62 | €194,962 | €264,875 | +€69,913 | +35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,571 | €34,394 | +€2,823 | +8.9% |
| Other operating charges | 640/8 | €14,098 | €1,303 | -€12,795 | -90.8% |
| Gross operating margin | 9900 | €370,561 | €395,588 | +€25,027 | +6.8% |
| Operating profit (loss) | 9901 | €129,929 | €95,015 | -€34,914 | -26.9% |
| Financial income | 75/76B | €1,571 | €29 | -€1,542 | -98.2% |
| Recurring financial income | 75 | €1,571 | €29 | -€1,542 | -98.2% |
| Financial charges | 65/66B | €44,136 | €13,094 | -€31,042 | -70.3% |
| Recurring financial charges | 65 | €29,145 | €13,094 | -€16,051 | -55.1% |
| Non-recurring financial charges | 66B | €14,990 | - | -€14,990 | |
| Profit (loss) for the period before taxes | 9903 | €87,365 | €81,950 | -€5,415 | -6.2% |
| Income taxes | 67/77 | €172 | - | -€172 | |
| Profit (loss) for the period | 9904 | €87,193 | €81,950 | -€5,243 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,193 | €81,950 | -€5,243 | -6.0% |
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 20 October 2026 via checked.be.