VDCL: 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.
VDCL
Largest movements
- Cash +€105,080
up €105,080 (+102.9%), from €102,084 to €207,164
mainly Other debts (+€104,840) and Net result for the year (+€57,257)
- Receivables within one year -€43,768
down €43,768 (-71.9%), from €60,878 to €17,110
- Other debts +€104,840
up €104,840 (+1727.5%), from €6,069 to €110,909
- Profit (loss) carried forward -€58,166
no longer reported in 2025 (was €58,166)
- Tax, wage and social debts +€14,649
up €14,649 (+61.8%), from €23,694 to €38,343
of which Taxes: +€12,219
- Gross operating margin -€1,807
down €1,807 (-2.4%), from €76,584 to €74,777
- Taxes -€1,145
down €1,145 (-6.8%), from €16,847 to €15,701
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 | €169,664 | €230,949 | +€61,285 | +36.1% |
| Fixed assets | 21/28 | €3,870 | €3,767 | -€103 | -2.7% |
| Tangible fixed assets | 22/27 | €3,870 | €3,767 | -€103 | -2.7% |
| Furniture and vehicles | 24 | €3,870 | €3,767 | -€103 | -2.7% |
| Current assets | 29/58 | €165,795 | €227,182 | +€61,388 | +37.0% |
| Amounts receivable within one year | 40/41 | €60,878 | €17,110 | -€43,768 | -71.9% |
| Trade receivables | 40 | €60,878 | €17,110 | -€43,768 | -71.9% |
| Cash at bank and in hand | 54/58 | €102,084 | €207,164 | +€105,080 | +102.9% |
| Deferred charges and accrued income | 490/1 | €2,833 | €2,908 | +€75 | +2.7% |
| Total equity and liabilities | 10/49 | €169,664 | €230,949 | +€61,285 | +36.1% |
| Equity | 10/15 | €139,188 | €81,022 | -€58,166 | -41.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €79,522 | €79,522 | = | 0.0% |
| Distributable reserves | 133 | €79,522 | €79,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,166 | - | -€58,166 | |
| Amounts payable | 17/49 | €30,476 | €149,927 | +€119,451 | +392.0% |
| Amounts payable within one year | 42/48 | €30,172 | €149,927 | +€119,755 | +396.9% |
| Trade debts | 44 | €410 | €675 | +€265 | +64.8% |
| Suppliers | 440/4 | €410 | €675 | +€265 | +64.8% |
| Taxes, remuneration and social security | 45 | €23,694 | €38,343 | +€14,649 | +61.8% |
| Taxes | 450/3 | €23,694 | €35,913 | +€12,219 | +51.6% |
| Remuneration and social security | 454/9 | - | €2,430 | +€2,430 | |
| Other amounts payable | 47/48 | €6,069 | €110,909 | +€104,840 | +1727.5% |
| Accrued charges and deferred income | 492/3 | €304 | - | -€304 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,023 | €1,267 | +€243 | +23.8% |
| Other operating charges | 640/8 | €127 | €465 | +€339 | +266.8% |
| Gross operating margin | 9900 | €76,584 | €74,777 | -€1,807 | -2.4% |
| Operating profit (loss) | 9901 | €75,434 | €73,045 | -€2,389 | -3.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €421 | €87 | -€334 | -79.4% |
| Recurring financial charges | 65 | €421 | €87 | -€334 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €75,013 | €72,958 | -€2,055 | -2.7% |
| Income taxes | 67/77 | €16,847 | €15,701 | -€1,145 | -6.8% |
| Profit (loss) for the period | 9904 | €58,166 | €57,257 | -€910 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,166 | €57,257 | -€910 | -1.6% |
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 9 October 2026 via checked.be.