VDC Worx: 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 Worx
Largest movements
- Receivables within one year +€5,974
up €5,974 (+230%), from €2,598 to €8,572
of which Trade receivables: +€6,520
- Tangible fixed assets -€3,329
down €3,329 (-21.3%), from €15,645 to €12,316
of which Plant, machinery and equipment: -€2,729
- Deferred charges and accrued income -€3,175
down €3,175 (-100%), from €3,175 to €0
- Formation expenses -€450
down €450 (-20.0%), from €2,250 to €1,800
- Trade debts -€4,811
down €4,811 (-95.7%), from €5,029 to €218
- Other debts +€2,554
up €2,554 (+25.3%), from €10,112 to €12,666
- Reserves +€1,762
up €1,762 (+30.7%), from €5,736 to €7,497
- Financial charges +€4,340
up €4,340 (+216%), from €2,008 to €6,348
- Depreciation +€3,779
new in 2025: €3,779
- Gross operating margin +€3,244
up €3,244 (+31.7%), from €10,245 to €13,488
- Taxes -€940
down €940 (-62.6%), from €1,502 to €562
- Financial income -€175
down €175 (-100.0%), from €175 to €0
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 | €30,201 | €29,451 | -€751 | -2.5% |
| Formation expenses | 20 | €2,250 | €1,800 | -€450 | -20.0% |
| Fixed assets | 21/28 | €15,645 | €12,316 | -€3,329 | -21.3% |
| Tangible fixed assets | 22/27 | €15,645 | €12,316 | -€3,329 | -21.3% |
| Plant, machinery and equipment | 23 | €13,645 | €10,916 | -€2,729 | -20.0% |
| Furniture and vehicles | 24 | €2,000 | €1,400 | -€600 | -30.0% |
| Current assets | 29/58 | €12,306 | €15,335 | +€3,028 | +24.6% |
| Amounts receivable within one year | 40/41 | €2,598 | €8,572 | +€5,974 | +230% |
| Trade receivables | 40 | €1,898 | €8,419 | +€6,520 | +343% |
| Other amounts receivable | 41 | €700 | €153 | -€546 | -78.1% |
| Cash at bank and in hand | 54/58 | €6,533 | €6,763 | +€230 | +3.5% |
| Deferred charges and accrued income | 490/1 | €3,175 | €0 | -€3,175 | -100% |
| Total equity and liabilities | 10/49 | €30,201 | €29,451 | -€751 | -2.5% |
| Equity | 10/15 | €9,736 | €11,497 | +€1,762 | +18.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €5,736 | €7,497 | +€1,762 | +30.7% |
| Distributable reserves | 133 | €5,736 | €7,497 | +€1,762 | +30.7% |
| Amounts payable | 17/49 | €20,466 | €17,953 | -€2,512 | -12.3% |
| Amounts payable within one year | 42/48 | €20,466 | €17,953 | -€2,512 | -12.3% |
| Trade debts | 44 | €5,029 | €218 | -€4,811 | -95.7% |
| Suppliers | 440/4 | €5,029 | €218 | -€4,811 | -95.7% |
| Taxes, remuneration and social security | 45 | €5,325 | €5,069 | -€255 | -4.8% |
| Taxes | 450/3 | €5,325 | €5,069 | -€255 | -4.8% |
| Other amounts payable | 47/48 | €10,112 | €12,666 | +€2,554 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,779 | +€3,779 | |
| Other operating charges | 640/8 | €1,174 | €1,038 | -€137 | -11.6% |
| Gross operating margin | 9900 | €10,245 | €13,488 | +€3,244 | +31.7% |
| Operating profit (loss) | 9901 | €9,070 | €8,672 | -€399 | -4.4% |
| Financial income | 75/76B | €175 | €0 | -€175 | -100.0% |
| Recurring financial income | 75 | €175 | €0 | -€175 | -100.0% |
| Financial charges | 65/66B | €2,008 | €6,348 | +€4,340 | +216% |
| Recurring financial charges | 65 | €2,008 | €6,348 | +€4,340 | +216% |
| Profit (loss) for the period before taxes | 9903 | €7,238 | €2,324 | -€4,914 | -67.9% |
| Income taxes | 67/77 | €1,502 | €562 | -€940 | -62.6% |
| Profit (loss) for the period | 9904 | €5,736 | €1,762 | -€3,974 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,736 | €1,762 | -€3,974 | -69.3% |
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 25 October 2026 via checked.be.