vdcd: 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.
What changed
vdcd
NACE 66.220, Insurance agents and brokers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€679,849
2024 · €460,441+€219,408
Equity
€2.7m
2024 · €2.3m+€429,103
Cash
€165,819
2024 · €131,553+€34,266
Balance sheet total
€6.5m
2024 · €6.1m+€420,455
Largest movements
Assets
- Tangible fixed assets +€210,180
up €210,180 (+10.5%), from €2.0m to €2.2m
of which Land and buildings: +€207,610
- Deferred charges and accrued income +€149,689
up €149,689 (+81.8%), from €183,042 to €332,732
- Intangible fixed assets +€101,694
up €101,694 (+33.6%), from €302,934 to €404,628
- Current investments -€75,375
down €75,375 (-8.9%), from €842,614 to €767,239
Equity and liabilities
- Reserves +€429,103
up €429,103 (+19.0%), from €2.3m to €2.7m
of which Distributable reserves: +€429,103
- Debts after one year -€71,740
down €71,740 (-2.7%), from €2.6m to €2.6m
Income statement
- Financial income +€425,950
up €425,950 (+19921.7%), from €2,138 to €428,088
- Gross operating margin -€79,459
down €79,459 (-5.3%), from €1.5m to €1.4m
- Financial charges +€60,372
up €60,372 (+126.1%), from €47,864 to €108,236
- Staff costs +€49,978
up €49,978 (+9.5%), from €526,396 to €576,374
- Depreciation +€35,352
up €35,352 (+14.9%), from €237,978 to €273,330
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.
Result 2024
€460,441
Gross operating margin
-€79,459
Staff costs
-€49,978
Depreciation
-€35,352
Other operating charges
-€495
Financial income
+€425,950
Financial charges
-€60,372
Taxes
+€19,114
Result 2025
€679,849
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.
From operations
+€818,535
Investment
-€509,830
Financing
-€274,439
Cash 2024
€131,553
From operations (derived)
+€818,535
Net result for the year
+€679,849
Depreciation
+€273,330
Deferred charges and accrued income
-€149,689
Trade debts
-€43,714
Tax, wage and social debts
+€54,298
Advances received
-€3,611
Other debts
-€5,118
Accrued charges and deferred income
+€13,190
Investment (derived)
-€509,830
Investment in fixed assets (net)
-€585,205
Current investments
+€75,375
Financing
-€274,439
Debts after one year
-€71,740
Current portion of long-term debt
+€47,410
Short-term financial debts
+€637
Contributions, distributions and other
-€250,747
Cash 2025
€165,819
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,113,227 | €6,533,682 | +€420,455 | +6.9% |
| Fixed assets | 21/28 | €4,956,017 | €5,267,892 | +€311,875 | +6.3% |
| Intangible fixed assets | 21 | €302,934 | €404,628 | +€101,694 | +33.6% |
| Tangible fixed assets | 22/27 | €2,001,794 | €2,211,974 | +€210,180 | +10.5% |
| Land and buildings | 22 | €1,495,218 | €1,702,828 | +€207,610 | +13.9% |
| Plant, machinery and equipment | 23 | €54,482 | €56,654 | +€2,171 | +4.0% |
| Furniture and vehicles | 24 | €289,303 | €209,826 | -€79,477 | -27.5% |
| Other tangible fixed assets | 26 | €162,791 | €223,917 | +€61,126 | +37.5% |
| Assets under construction and advance payments | 27 | - | €18,750 | +€18,750 | |
| Financial fixed assets | 28 | €2,651,290 | €2,651,290 | = | 0.0% |
| Current assets | 29/58 | €1,157,210 | €1,265,790 | +€108,581 | +9.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €842,614 | €767,239 | -€75,375 | -8.9% |
| Cash at bank and in hand | 54/58 | €131,553 | €165,819 | +€34,266 | +26.0% |
| Deferred charges and accrued income | 490/1 | €183,042 | €332,732 | +€149,689 | +81.8% |
| Total equity and liabilities | 10/49 | €6,113,227 | €6,533,682 | +€420,455 | +6.9% |
| Equity | 10/15 | €2,261,096 | €2,690,199 | +€429,103 | +19.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €2,254,896 | €2,683,999 | +€429,103 | +19.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,236,146 | €2,665,249 | +€429,103 | +19.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,852,130 | €3,843,482 | -€8,648 | -0.2% |
| Amounts payable after more than one year | 17 | €2,628,318 | €2,556,578 | -€71,740 | -2.7% |
| Financial debts | 170/4 | €2,628,318 | €2,556,578 | -€71,740 | -2.7% |
| Amounts payable within one year | 42/48 | €1,216,218 | €1,266,120 | +€49,902 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €431,131 | €478,542 | +€47,410 | +11.0% |
| Financial debts | 43 | €2,424 | €3,061 | +€637 | +26.3% |
| Credit institutions | 430/8 | €2,424 | €3,061 | +€637 | +26.3% |
| Trade debts | 44 | €53,766 | €10,052 | -€43,714 | -81.3% |
| Suppliers | 440/4 | €53,766 | €10,052 | -€43,714 | -81.3% |
| Advances received on contracts in progress | 46 | €5,050 | €1,439 | -€3,611 | -71.5% |
| Taxes, remuneration and social security | 45 | €177,289 | €231,587 | +€54,298 | +30.6% |
| Taxes | 450/3 | €115,782 | €155,226 | +€39,444 | +34.1% |
| Remuneration and social security | 454/9 | €61,508 | €76,362 | +€14,854 | +24.1% |
| Other amounts payable | 47/48 | €546,557 | €541,439 | -€5,118 | -0.9% |
| Accrued charges and deferred income | 492/3 | €7,594 | €20,784 | +€13,190 | +173.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €526,396 | €576,374 | +€49,978 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,978 | €273,330 | +€35,352 | +14.9% |
| Other operating charges | 640/8 | €6,382 | €6,878 | +€495 | +7.8% |
| Gross operating margin | 9900 | €1,494,423 | €1,414,964 | -€79,459 | -5.3% |
| Operating profit (loss) | 9901 | €723,666 | €558,382 | -€165,284 | -22.8% |
| Financial income | 75/76B | €2,138 | €428,088 | +€425,950 | +19921.7% |
| Recurring financial income | 75 | €2,138 | €428,088 | +€425,950 | +19921.7% |
| Financial charges | 65/66B | €47,864 | €108,236 | +€60,372 | +126.1% |
| Recurring financial charges | 65 | €47,864 | €108,236 | +€60,372 | +126.1% |
| Profit (loss) for the period before taxes | 9903 | €677,940 | €878,234 | +€200,294 | +29.5% |
| Income taxes | 67/77 | €217,499 | €198,385 | -€19,114 | -8.8% |
| Profit (loss) for the period | 9904 | €460,441 | €679,849 | +€219,408 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €460,441 | €679,849 | +€219,408 | +47.7% |
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 8 October 2026 via checked.be.