VDC RENOVATION: 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 RENOVATION
Largest movements
- Receivables within one year +€34,049
up €34,049 (+63.8%), from €53,405 to €87,455
of which Trade receivables: +€28,919
- Receivables after one year +€17,000
new in 2025: €17,000
- Cash -€16,131
down €16,131 (-72.6%), from €22,233 to €6,102
mainly Receivables within one year (-€34,049) and Receivables after one year (-€17,000)
- Tangible fixed assets -€8,607
down €8,607 (-29.2%), from €29,477 to €20,870
of which Leasing and similar rights: -€8,250
- Trade debts +€45,599
up €45,599 (+191%), from €23,849 to €69,448
- Profit (loss) carried forward -€11,252
down €11,252 (-49.0%), from €22,944 to €11,692
- Debts after one year -€6,596
down €6,596 (-68.0%), from €9,700 to €3,104
- Other debts -€1,419
down €1,419 (-6.8%), from €20,848 to €19,429
- Gross operating margin -€36,339
down €36,339 (-85.0%), from €42,740 to €6,401
- Taxes -€6,274
no longer reported in 2025 (was €6,274)
- Other operating charges +€5,519
up €5,519 (+1,232%), from €448 to €5,968
- Financial charges -€2,247
down €2,247 (-68.6%), from €3,276 to €1,029
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 | €105,115 | €132,004 | +€26,888 | +25.6% |
| Fixed assets | 21/28 | €29,477 | €20,870 | -€8,607 | -29.2% |
| Tangible fixed assets | 22/27 | €29,477 | €20,870 | -€8,607 | -29.2% |
| Plant, machinery and equipment | 23 | €10,227 | €8,557 | -€1,669 | -16.3% |
| Furniture and vehicles | 24 | - | €1,313 | +€1,313 | |
| Leasing and similar rights | 25 | €19,250 | €11,000 | -€8,250 | -42.9% |
| Current assets | 29/58 | €75,639 | €111,134 | +€35,495 | +46.9% |
| Amounts receivable after more than one year | 29 | - | €17,000 | +€17,000 | |
| Other amounts receivable | 291 | - | €17,000 | +€17,000 | |
| Amounts receivable within one year | 40/41 | €53,405 | €87,455 | +€34,049 | +63.8% |
| Trade receivables | 40 | €46,340 | €75,259 | +€28,919 | +62.4% |
| Other amounts receivable | 41 | €7,065 | €12,195 | +€5,130 | +72.6% |
| Cash at bank and in hand | 54/58 | €22,233 | €6,102 | -€16,131 | -72.6% |
| Deferred charges and accrued income | 490/1 | - | €577 | +€577 | |
| Total equity and liabilities | 10/49 | €105,115 | €132,004 | +€26,888 | +25.6% |
| Equity | 10/15 | €27,944 | €16,692 | -€11,252 | -40.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,944 | €11,692 | -€11,252 | -49.0% |
| Amounts payable | 17/49 | €77,171 | €115,312 | +€38,140 | +49.4% |
| Amounts payable after more than one year | 17 | €9,700 | €3,104 | -€6,596 | -68.0% |
| Financial debts | 170/4 | €9,700 | €3,104 | -€6,596 | -68.0% |
| Amounts payable within one year | 42/48 | €67,471 | €112,208 | +€44,737 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €6,338 | €6,596 | +€258 | +4.1% |
| Trade debts | 44 | €23,849 | €69,448 | +€45,599 | +191% |
| Suppliers | 440/4 | €23,849 | €69,448 | +€45,599 | +191% |
| Taxes, remuneration and social security | 45 | €16,436 | €16,734 | +€298 | +1.8% |
| Taxes | 450/3 | €16,436 | €16,734 | +€298 | +1.8% |
| Other amounts payable | 47/48 | €20,848 | €19,429 | -€1,419 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,530 | €10,666 | +€136 | +1.3% |
| Other operating charges | 640/8 | €448 | €5,968 | +€5,519 | +1,232% |
| Non-recurring operating charges | 66A | €310 | - | -€310 | |
| Gross operating margin | 9900 | €42,740 | €6,401 | -€36,339 | -85.0% |
| Operating profit (loss) | 9901 | €31,452 | -€10,232 | -€41,684 | |
| Financial income | 75/76B | €235 | €10 | -€225 | -95.9% |
| Recurring financial income | 75 | €235 | €10 | -€225 | -95.9% |
| Financial charges | 65/66B | €3,276 | €1,029 | -€2,247 | -68.6% |
| Recurring financial charges | 65 | €3,276 | €1,029 | -€2,247 | -68.6% |
| Profit (loss) for the period before taxes | 9903 | €28,410 | -€11,252 | -€39,662 | |
| Income taxes | 67/77 | €6,274 | - | -€6,274 | |
| Profit (loss) for the period | 9904 | €22,136 | -€11,252 | -€33,387 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,136 | -€11,252 | -€33,387 |
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 24 October 2026 via checked.be.