VDC Technics: what changed
Two fiscal 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 Technics
Largest movements
- Receivables within one year +€176,468
up €176,468 (+37.7%), from €467,824 to €644,292
of which Other amounts receivable: +€313,167
- Stocks and contracts -€143,330
down €143,330 (-29.9%), from €480,116 to €336,786
- Cash +€84,984
up €84,984 (+98.2%), from €86,582 to €171,567
mainly Stocks and contracts (+€143,330) and Depreciation (+€83,446)
- Tangible fixed assets -€80,314
down €80,314 (-5.3%), from €1.5m to €1.4m
of which Land and buildings: -€45,571
- Debts after one year +€46,408
up €46,408 (+6.8%), from €682,186 to €728,594
of which Other amounts payable: +€80,015
- Write-downs -€36,972
new in 2025: -€36,972
- Gross operating margin +€13,035
up €13,035 (+20.6%), from €63,227 to €76,262
- Financial income +€11,227
up €11,227 (+459.7%), from €2,442 to €13,669
- Depreciation +€7,172
up €7,172 (+9.4%), from €76,273 to €83,446
- Financial charges +€5,710
up €5,710 (+39.4%), from €14,481 to €20,191
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 | €2,609,784 | €2,648,051 | +€38,267 | +1.5% |
| Fixed assets | 21/28 | €1,572,731 | €1,492,417 | -€80,314 | -5.1% |
| Tangible fixed assets | 22/27 | €1,510,731 | €1,430,417 | -€80,314 | -5.3% |
| Land and buildings | 22 | €1,421,870 | €1,376,299 | -€45,571 | -3.2% |
| Plant, machinery and equipment | 23 | €44,743 | €28,602 | -€16,141 | -36.1% |
| Furniture and vehicles | 24 | €9,895 | €5,149 | -€4,746 | -48.0% |
| Leasing and similar rights | 25 | €34,223 | €20,367 | -€13,856 | -40.5% |
| Financial fixed assets | 28 | €62,000 | €62,000 | = | 0.0% |
| Current assets | 29/58 | €1,037,053 | €1,155,634 | +€118,581 | +11.4% |
| Stocks and contracts in progress | 3 | €480,116 | €336,786 | -€143,330 | -29.9% |
| Stocks | 30/36 | €480,116 | €336,786 | -€143,330 | -29.9% |
| Amounts receivable within one year | 40/41 | €467,824 | €644,292 | +€176,468 | +37.7% |
| Trade receivables | 40 | €163,078 | €26,379 | -€136,699 | -83.8% |
| Other amounts receivable | 41 | €304,746 | €617,913 | +€313,167 | +102.8% |
| Cash at bank and in hand | 54/58 | €86,582 | €171,567 | +€84,984 | +98.2% |
| Deferred charges and accrued income | 490/1 | €2,531 | €2,990 | +€459 | +18.1% |
| Total equity and liabilities | 10/49 | €2,609,784 | €2,648,051 | +€38,267 | +1.5% |
| Equity | 10/15 | €1,599,195 | €1,617,875 | +€18,680 | +1.2% |
| Contributions | 10/11 | €1,041,200 | €1,041,200 | = | 0.0% |
| Capital | 10 | €1,041,200 | €1,041,200 | = | 0.0% |
| Issued capital | 100 | €1,041,200 | €1,041,200 | = | 0.0% |
| Reserves | 13 | €320,771 | €321,705 | +€934 | +0.3% |
| Non-distributable reserves | 130/1 | €67,574 | €68,508 | +€934 | +1.4% |
| Legal reserve | 130 | €67,574 | €68,508 | +€934 | +1.4% |
| Tax-exempt reserves | 132 | €3,198 | €3,198 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,224 | €254,969 | +€17,746 | +7.5% |
| Amounts payable | 17/49 | €1,010,589 | €1,030,176 | +€19,587 | +1.9% |
| Amounts payable after more than one year | 17 | €682,186 | €728,594 | +€46,408 | +6.8% |
| Financial debts | 170/4 | €41,101 | €7,494 | -€33,607 | -81.8% |
| Other amounts payable | 178/9 | €641,084 | €721,100 | +€80,015 | +12.5% |
| Amounts payable within one year | 42/48 | €325,716 | €291,725 | -€33,991 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €33,076 | €33,607 | +€531 | +1.6% |
| Trade debts | 44 | €1,493 | €1,357 | -€137 | -9.1% |
| Suppliers | 440/4 | €1,493 | €1,357 | -€137 | -9.1% |
| Advances received on contracts in progress | 46 | €11,172 | - | -€11,172 | |
| Taxes, remuneration and social security | 45 | €415 | €491 | +€76 | +18.4% |
| Taxes | 450/3 | €415 | €491 | +€76 | +18.4% |
| Other amounts payable | 47/48 | €279,560 | €256,270 | -€23,290 | -8.3% |
| Accrued charges and deferred income | 492/3 | €2,687 | €9,858 | +€7,170 | +266.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,273 | €83,446 | +€7,172 | +9.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€36,972 | -€36,972 | |
| Other operating charges | 640/8 | €6,251 | €4,586 | -€1,665 | -26.6% |
| Gross operating margin | 9900 | €63,227 | €76,262 | +€13,035 | +20.6% |
| Operating profit (loss) | 9901 | -€19,298 | €25,202 | +€44,499 | |
| Financial income | 75/76B | €2,442 | €13,669 | +€11,227 | +459.7% |
| Recurring financial income | 75 | €2,442 | €13,669 | +€11,227 | +459.7% |
| Financial charges | 65/66B | €14,481 | €20,191 | +€5,710 | +39.4% |
| Recurring financial charges | 65 | €14,481 | €20,191 | +€5,710 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,336 | €18,680 | +€50,016 | |
| Income taxes | 67/77 | €12 | - | -€12 | |
| Profit (loss) for the period | 9904 | -€31,349 | €18,680 | +€50,028 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,349 | €18,680 | +€50,028 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.