VDD MC: 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 MC
Largest movements
- Receivables within one year +€33,422
up €33,422 (+396.2%), from €8,436 to €41,858
of which Other amounts receivable: +€20,567
- Cash -€31,088
down €31,088 (-24.4%), from €127,229 to €96,141
mainly Contributions, distributions and other (-€189,571) and Receivables within one year (-€33,422)
- Tangible fixed assets +€25,601
up €25,601 (+140.8%), from €18,178 to €43,778
of which Other tangible fixed assets: +€24,534
- Financial fixed assets -€3,600
no longer reported in 2025 (was €3,600)
- Reserves -€62,819
down €62,819 (-60.1%), from €104,571 to €41,752
- Other debts +€60,500
up €60,500 (+246.9%), from €24,500 to €85,000
- Tax, wage and social debts +€29,221
up €29,221 (+159.1%), from €18,365 to €47,586
- Trade debts -€4,541
down €4,541 (-77.7%), from €5,845 to €1,304
- Accrued charges and deferred income +€3,000
new in 2025: €3,000
- Gross operating margin +€44,185
up €44,185 (+31.8%), from €138,878 to €183,063
- Taxes +€10,497
up €10,497 (+35.9%), from €29,199 to €39,696
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 | €158,280 | €183,641 | +€25,361 | +16.0% |
| Fixed assets | 21/28 | €21,778 | €43,778 | +€22,001 | +101.0% |
| Tangible fixed assets | 22/27 | €18,178 | €43,778 | +€25,601 | +140.8% |
| Plant, machinery and equipment | 23 | €2,281 | - | -€2,281 | |
| Furniture and vehicles | 24 | €439 | €3,787 | +€3,348 | +762.9% |
| Other tangible fixed assets | 26 | €15,458 | €39,991 | +€24,534 | +158.7% |
| Financial fixed assets | 28 | €3,600 | - | -€3,600 | |
| Current assets | 29/58 | €136,502 | €139,863 | +€3,361 | +2.5% |
| Amounts receivable within one year | 40/41 | €8,436 | €41,858 | +€33,422 | +396.2% |
| Trade receivables | 40 | €5,635 | €18,489 | +€12,855 | +228.1% |
| Other amounts receivable | 41 | €2,801 | €23,369 | +€20,567 | +734.2% |
| Cash at bank and in hand | 54/58 | €127,229 | €96,141 | -€31,088 | -24.4% |
| Deferred charges and accrued income | 490/1 | €838 | €1,865 | +€1,027 | +122.6% |
| Total equity and liabilities | 10/49 | €158,280 | €183,641 | +€25,361 | +16.0% |
| Equity | 10/15 | €109,571 | €46,752 | -€62,819 | -57.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €104,571 | €41,752 | -€62,819 | -60.1% |
| Distributable reserves | 133 | €104,571 | €41,752 | -€62,819 | -60.1% |
| Amounts payable | 17/49 | €48,709 | €136,890 | +€88,181 | +181.0% |
| Amounts payable within one year | 42/48 | €48,709 | €133,890 | +€85,181 | +174.9% |
| Trade debts | 44 | €5,845 | €1,304 | -€4,541 | -77.7% |
| Suppliers | 440/4 | €5,845 | €1,304 | -€4,541 | -77.7% |
| Taxes, remuneration and social security | 45 | €18,365 | €47,586 | +€29,221 | +159.1% |
| Taxes | 450/3 | €18,365 | €47,586 | +€29,221 | +159.1% |
| Other amounts payable | 47/48 | €24,500 | €85,000 | +€60,500 | +246.9% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,789 | €4,953 | +€164 | +3.4% |
| Other operating charges | 640/8 | €552 | €1,991 | +€1,439 | +260.7% |
| Non-recurring operating charges | 66A | - | €5,048 | +€5,048 | |
| Gross operating margin | 9900 | €138,878 | €183,063 | +€44,185 | +31.8% |
| Operating profit (loss) | 9901 | €133,537 | €171,071 | +€37,534 | +28.1% |
| Financial income | 75/76B | - | €56 | +€56 | |
| Recurring financial income | 75 | - | €56 | +€56 | |
| Financial charges | 65/66B | €3,460 | €4,680 | +€1,220 | +35.3% |
| Recurring financial charges | 65 | €3,460 | €4,680 | +€1,220 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €130,077 | €166,447 | +€36,370 | +28.0% |
| Income taxes | 67/77 | €29,199 | €39,696 | +€10,497 | +35.9% |
| Profit (loss) for the period | 9904 | €100,878 | €126,752 | +€25,874 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,878 | €126,752 | +€25,874 | +25.6% |
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.