VDE Build: 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.
VDE Build
Largest movements
- Cash +€10,418
up €10,418 (+456%), from €2,285 to €12,703
mainly Depreciation (+€11,586) and Other debts (+€11,204)
- Tangible fixed assets -€9,166
down €9,166 (-37.1%), from €24,714 to €15,548
of which Furniture and vehicles: -€8,788
- Receivables within one year -€554
down €554 (-6.5%), from €8,547 to €7,993
of which Other amounts receivable: -€7,473
- Other debts +€11,204
up €11,204 (+162%), from €6,919 to €18,123
- Trade debts -€9,885
down €9,885 (-82.4%), from €12,000 to €2,116
- Tax, wage and social debts -€825
down €825 (-54.0%), from €1,528 to €703
- Reserves +€514
up €514 (+2.3%), from €21,889 to €22,403
- Gross operating margin -€3,955
down €3,955 (-25.8%), from €15,318 to €11,363
- Financial income +€2,260
up €2,260 (+4,808%), from €47 to €2,307
- Depreciation +€1,734
up €1,734 (+17.6%), from €9,852 to €11,586
- Taxes -€826
down €826 (-54.0%), from €1,529 to €703
- Other operating charges -€345
down €345 (-39.1%), from €883 to €538
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 | €47,646 | €48,344 | +€698 | +1.5% |
| Fixed assets | 21/28 | €24,714 | €15,548 | -€9,166 | -37.1% |
| Tangible fixed assets | 22/27 | €24,714 | €15,548 | -€9,166 | -37.1% |
| Plant, machinery and equipment | 23 | €1,074 | €696 | -€378 | -35.2% |
| Furniture and vehicles | 24 | €23,640 | €14,852 | -€8,788 | -37.2% |
| Current assets | 29/58 | €22,932 | €32,796 | +€9,864 | +43.0% |
| Amounts receivable within one year | 40/41 | €8,547 | €7,993 | -€554 | -6.5% |
| Trade receivables | 40 | - | €6,918 | +€6,918 | |
| Other amounts receivable | 41 | €8,547 | €1,074 | -€7,473 | -87.4% |
| Current investments | 50/53 | €12,100 | €12,100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,285 | €12,703 | +€10,418 | +456% |
| Total equity and liabilities | 10/49 | €47,646 | €48,344 | +€698 | +1.5% |
| Equity | 10/15 | €26,889 | €27,403 | +€514 | +1.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,889 | €22,403 | +€514 | +2.3% |
| Distributable reserves | 133 | €21,889 | €22,403 | +€514 | +2.3% |
| Amounts payable | 17/49 | €20,757 | €20,941 | +€184 | +0.9% |
| Amounts payable within one year | 42/48 | €20,447 | €20,941 | +€494 | +2.4% |
| Trade debts | 44 | €12,000 | €2,116 | -€9,885 | -82.4% |
| Suppliers | 440/4 | €12,000 | €2,116 | -€9,885 | -82.4% |
| Taxes, remuneration and social security | 45 | €1,528 | €703 | -€825 | -54.0% |
| Taxes | 450/3 | €1,528 | €703 | -€825 | -54.0% |
| Other amounts payable | 47/48 | €6,919 | €18,123 | +€11,204 | +162% |
| Accrued charges and deferred income | 492/3 | €310 | €0 | -€310 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,852 | €11,586 | +€1,734 | +17.6% |
| Other operating charges | 640/8 | €883 | €538 | -€345 | -39.1% |
| Gross operating margin | 9900 | €15,318 | €11,363 | -€3,955 | -25.8% |
| Operating profit (loss) | 9901 | €4,583 | -€761 | -€5,344 | |
| Financial income | 75/76B | €47 | €2,307 | +€2,260 | +4,808% |
| Recurring financial income | 75 | €47 | €2,307 | +€2,260 | +4,808% |
| Financial charges | 65/66B | €220 | €329 | +€109 | +49.4% |
| Recurring financial charges | 65 | €220 | €329 | +€109 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €4,410 | €1,217 | -€3,193 | -72.4% |
| Income taxes | 67/77 | €1,529 | €703 | -€826 | -54.0% |
| Profit (loss) for the period | 9904 | €2,881 | €514 | -€2,367 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,881 | €514 | -€2,367 | -82.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.