VDD Law: 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.
VDD Law
Largest movements
- Receivables within one year -€7,957
down €7,957 (-60.4%), from €13,172 to €5,215
of which Trade receivables: -€7,952
- Cash +€7,573
up €7,573 (+209.8%), from €3,610 to €11,184
mainly Net result for the year (+€9,120) and Receivables within one year (+€7,957)
- Receivables after one year +€3,000
new in 2025: €3,000
- Tangible fixed assets +€412
up €412 (+7.2%), from €5,724 to €6,136
- Profit (loss) carried forward +€8,287
up €8,287 (+126.9%), from €6,528 to €14,815
- Tax, wage and social debts -€2,821
down €2,821 (-35.8%), from €7,874 to €5,053
- Other debts -€2,537
down €2,537 (-58.5%), from €4,340 to €1,802
- Trade debts -€466
down €466 (-23.6%), from €1,979 to €1,513
- Accrued charges and deferred income +€400
new in 2025: €400
- Gross operating margin +€4,255
up €4,255 (+35.7%), from €11,933 to €16,189
- Depreciation +€1,578
up €1,578 (+324.9%), from €486 to €2,064
- Taxes +€743
up €743 (+32.5%), from €2,285 to €3,028
- Financial charges +€165
up €165 (+91.5%), from €180 to €346
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 | €23,220 | €26,082 | +€2,862 | +12.3% |
| Fixed assets | 21/28 | €6,084 | €6,496 | +€412 | +6.8% |
| Tangible fixed assets | 22/27 | €5,724 | €6,136 | +€412 | +7.2% |
| Furniture and vehicles | 24 | €5,724 | €6,136 | +€412 | +7.2% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €17,136 | €19,586 | +€2,450 | +14.3% |
| Amounts receivable after more than one year | 29 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 291 | - | €3,000 | +€3,000 | |
| Amounts receivable within one year | 40/41 | €13,172 | €5,215 | -€7,957 | -60.4% |
| Trade receivables | 40 | €7,952 | €0 | -€7,952 | -100.0% |
| Other amounts receivable | 41 | €5,220 | €5,215 | -€5 | -0.1% |
| Cash at bank and in hand | 54/58 | €3,610 | €11,184 | +€7,573 | +209.8% |
| Deferred charges and accrued income | 490/1 | €354 | €188 | -€166 | -47.0% |
| Total equity and liabilities | 10/49 | €23,220 | €26,082 | +€2,862 | +12.3% |
| Equity | 10/15 | €9,028 | €17,315 | +€8,287 | +91.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,528 | €14,815 | +€8,287 | +126.9% |
| Amounts payable | 17/49 | €14,192 | €8,768 | -€5,425 | -38.2% |
| Amounts payable within one year | 42/48 | €14,192 | €8,368 | -€5,825 | -41.0% |
| Trade debts | 44 | €1,979 | €1,513 | -€466 | -23.6% |
| Suppliers | 440/4 | €1,979 | €1,513 | -€466 | -23.6% |
| Taxes, remuneration and social security | 45 | €7,874 | €5,053 | -€2,821 | -35.8% |
| Taxes | 450/3 | €7,874 | €5,053 | -€2,821 | -35.8% |
| Other amounts payable | 47/48 | €4,340 | €1,802 | -€2,537 | -58.5% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | €2,064 | +€1,578 | +324.9% |
| Other operating charges | 640/8 | €1,622 | €1,706 | +€84 | +5.2% |
| Gross operating margin | 9900 | €11,933 | €16,189 | +€4,255 | +35.7% |
| Operating profit (loss) | 9901 | €9,826 | €12,418 | +€2,593 | +26.4% |
| Financial income | 75/76B | €0 | €75 | +€75 | +16566.7% |
| Recurring financial income | 75 | €0 | €75 | +€75 | +16566.7% |
| Financial charges | 65/66B | €180 | €346 | +€165 | +91.5% |
| Recurring financial charges | 65 | €180 | €346 | +€165 | +91.5% |
| Profit (loss) for the period before taxes | 9903 | €9,646 | €12,148 | +€2,502 | +25.9% |
| Income taxes | 67/77 | €2,285 | €3,028 | +€743 | +32.5% |
| Profit (loss) for the period | 9904 | €7,361 | €9,120 | +€1,759 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,361 | €9,120 | +€1,759 | +23.9% |
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 7 October 2026 via checked.be.