VDD Management: 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 Management
Largest movements
- Current investments +€676,801
up €676,801 (+1230.5%), from €55,000 to €731,801
- Cash -€346,868
down €346,868 (-67.2%), from €516,249 to €169,381
mainly Current investments (-€676,801) and Net result for the year (-€71,688)
- Receivables within one year -€287,553
down €287,553 (-55.8%), from €515,333 to €227,780
of which Trade receivables: -€294,873
- Other debts +€168,922
up €168,922 (+165.3%), from €102,168 to €271,090
- Profit (loss) carried forward -€71,688
down €71,688 (-10.0%), from €713,378 to €641,691
- Trade debts -€52,511
down €52,511 (-98.1%), from €53,523 to €1,012
- Gross operating margin -€307,381
down €307,381 (-77.2%), from €398,065 to €90,684
- Financial charges +€153,154
up €153,154 (+1716.2%), from €8,924 to €162,078
- Taxes -€92,644
down €92,644 (-99.6%), from €93,030 to €386
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 | €1,088,206 | €1,130,392 | +€42,185 | +3.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,625 | €1,430 | -€195 | -12.0% |
| Tangible fixed assets | 22/27 | €1,625 | €1,430 | -€195 | -12.0% |
| Other tangible fixed assets | 26 | €1,625 | €1,430 | -€195 | -12.0% |
| Current assets | 29/58 | €1,086,582 | €1,128,962 | +€42,380 | +3.9% |
| Amounts receivable within one year | 40/41 | €515,333 | €227,780 | -€287,553 | -55.8% |
| Trade receivables | 40 | €515,292 | €220,419 | -€294,873 | -57.2% |
| Other amounts receivable | 41 | €41 | €7,361 | +€7,320 | +17823.0% |
| Current investments | 50/53 | €55,000 | €731,801 | +€676,801 | +1230.5% |
| Cash at bank and in hand | 54/58 | €516,249 | €169,381 | -€346,868 | -67.2% |
| Total equity and liabilities | 10/49 | €1,088,206 | €1,130,392 | +€42,185 | +3.9% |
| Equity | 10/15 | €842,678 | €770,991 | -€71,688 | -8.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €126,300 | €126,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €713,378 | €641,691 | -€71,688 | -10.0% |
| Amounts payable | 17/49 | €245,528 | €359,401 | +€113,873 | +46.4% |
| Amounts payable within one year | 42/48 | €245,528 | €359,401 | +€113,873 | +46.4% |
| Trade debts | 44 | €53,523 | €1,012 | -€52,511 | -98.1% |
| Suppliers | 440/4 | €53,523 | €1,012 | -€52,511 | -98.1% |
| Taxes, remuneration and social security | 45 | €89,837 | €87,299 | -€2,538 | -2.8% |
| Taxes | 450/3 | €89,837 | €87,299 | -€2,538 | -2.8% |
| Other amounts payable | 47/48 | €102,168 | €271,090 | +€168,922 | +165.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195 | €195 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +157.8% |
| Gross operating margin | 9900 | €398,065 | €90,684 | -€307,381 | -77.2% |
| Operating profit (loss) | 9901 | €397,483 | €89,490 | -€307,993 | -77.5% |
| Financial income | 75/76B | €3,711 | €1,285 | -€2,426 | -65.4% |
| Recurring financial income | 75 | €3,711 | €1,285 | -€2,426 | -65.4% |
| Financial charges | 65/66B | €8,924 | €162,078 | +€153,154 | +1716.2% |
| Recurring financial charges | 65 | €8,924 | €162,078 | +€153,154 | +1716.2% |
| Profit (loss) for the period before taxes | 9903 | €392,270 | -€71,302 | -€463,572 | |
| Income taxes | 67/77 | €93,030 | €386 | -€92,644 | -99.6% |
| Profit (loss) for the period | 9904 | €299,240 | -€71,688 | -€370,928 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | - | -€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €172,940 | -€71,688 | -€244,628 |
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 3 October 2026 via checked.be.