VDD HVH: 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.
VDD HVH
Largest movements
- Deferred charges and accrued income +€395,000
new in 2025: €395,000
- Accrued charges and deferred income +€397,377
up €397,377 (+1,322%), from €30,061 to €427,438
- Financial income +€354,665
up €354,665 (+86.4%), from €410,335 to €765,000
- Financial charges +€327,203
up €327,203 (+74.8%), from €437,508 to €764,710
- Gross operating margin +€2,896
up €2,896 (+28.4%), from -€10,183 to -€7,287
- Taxes -€461
down €461 (-100%), from €461 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 | €8,563,250 | €8,913,680 | +€350,430 | +4.1% |
| Current assets | 29/58 | €8,563,250 | €8,913,680 | +€350,430 | +4.1% |
| Amounts receivable after more than one year | 29 | €8,500,000 | €8,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €8,500,000 | €8,500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45 | €1,176 | +€1,131 | +2,528% |
| Trade receivables | 40 | €45 | €1,176 | +€1,131 | +2,528% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €63,206 | €17,504 | -€45,701 | -72.3% |
| Deferred charges and accrued income | 490/1 | - | €395,000 | +€395,000 | |
| Total equity and liabilities | 10/49 | €8,563,250 | €8,913,680 | +€350,430 | +4.1% |
| Equity | 10/15 | -€21,856 | -€29,981 | -€8,124 | -37.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,856 | -€30,981 | -€8,124 | -35.5% |
| Amounts payable | 17/49 | €8,585,107 | €8,943,661 | +€358,554 | +4.2% |
| Amounts payable after more than one year | 17 | €8,500,000 | €8,500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €8,500,000 | €8,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,046 | €16,223 | -€38,823 | -70.5% |
| Trade debts | 44 | €0 | €128 | +€128 | |
| Suppliers | 440/4 | €0 | €128 | +€128 | |
| Taxes, remuneration and social security | 45 | €52,451 | €13,500 | -€38,951 | -74.3% |
| Taxes | 450/3 | €52,451 | €13,500 | -€38,951 | -74.3% |
| Other amounts payable | 47/48 | €2,595 | €2,595 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30,061 | €427,438 | +€397,377 | +1,322% |
| Other operating charges | 640/8 | €1,037 | €1,126 | +€90 | +8.6% |
| Gross operating margin | 9900 | -€10,183 | -€7,287 | +€2,896 | +28.4% |
| Operating profit (loss) | 9901 | -€11,220 | -€8,414 | +€2,806 | +25.0% |
| Financial income | 75/76B | €410,335 | €765,000 | +€354,665 | +86.4% |
| Recurring financial income | 75 | €410,335 | €765,000 | +€354,665 | +86.4% |
| Financial charges | 65/66B | €437,508 | €764,710 | +€327,203 | +74.8% |
| Recurring financial charges | 65 | €437,508 | €764,710 | +€327,203 | +74.8% |
| Profit (loss) for the period before taxes | 9903 | -€38,392 | -€8,124 | +€30,268 | +78.8% |
| Income taxes | 67/77 | €461 | €0 | -€461 | -100% |
| Profit (loss) for the period | 9904 | -€38,853 | -€8,124 | +€30,729 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,853 | -€8,124 | +€30,729 | +79.1% |
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 13 October 2026 via checked.be.