VDE WORX: 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 WORX
Largest movements
- Stocks and contracts +€15,000
new in 2025: €15,000
- Tangible fixed assets -€8,583
down €8,583 (-20.9%), from €41,079 to €32,496
of which Leasing and similar rights: -€8,340
- Cash -€7,787
down €7,787 (-58.7%), from €13,260 to €5,473
mainly Stocks and contracts (-€15,000) and Net result for the year (-€13,960)
- Receivables within one year -€7,098
down €7,098 (-60.9%), from €11,658 to €4,560
of which Trade receivables: -€8,947
- Trade debts +€18,935
up €18,935 (+4336.9%), from €437 to €19,372
- Profit (loss) carried forward -€13,960
down €13,960, from €12,392 to -€1,569
- Debts after one year -€12,391
down €12,391 (-53.2%), from €23,283 to €10,892
- Tax, wage and social debts -€1,934
down €1,934 (-24.9%), from €7,776 to €5,842
of which Taxes: -€1,934
- Current portion of long-term debt +€701
up €701 (+6.0%), from €11,690 to €12,391
- Gross operating margin -€20,536
down €20,536, from €17,027 to -€3,509
- Depreciation +€6,745
up €6,745 (+366.9%), from €1,838 to €8,583
- Taxes -€2,242
down €2,242 (-100.0%), from €2,242 to €0
- Financial charges +€1,633
up €1,633 (+6894.0%), from €24 to €1,657
- Other operating charges -€322
down €322 (-60.4%), from €534 to €211
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 | €67,397 | €58,929 | -€8,468 | -12.6% |
| Fixed assets | 21/28 | €42,479 | €33,896 | -€8,583 | -20.2% |
| Tangible fixed assets | 22/27 | €41,079 | €32,496 | -€8,583 | -20.9% |
| Plant, machinery and equipment | 23 | €1,174 | €931 | -€243 | -20.7% |
| Leasing and similar rights | 25 | €39,905 | €31,565 | -€8,340 | -20.9% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €24,918 | €25,033 | +€115 | +0.5% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Contracts in progress | 37 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €11,658 | €4,560 | -€7,098 | -60.9% |
| Trade receivables | 40 | €11,658 | €2,711 | -€8,947 | -76.7% |
| Other amounts receivable | 41 | €0 | €1,849 | +€1,849 | |
| Cash at bank and in hand | 54/58 | €13,260 | €5,473 | -€7,787 | -58.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €67,397 | €58,929 | -€8,468 | -12.6% |
| Equity | 10/15 | €14,392 | €432 | -€13,960 | -97.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,392 | -€1,569 | -€13,960 | |
| Amounts payable | 17/49 | €53,005 | €58,497 | +€5,492 | +10.4% |
| Amounts payable after more than one year | 17 | €23,283 | €10,892 | -€12,391 | -53.2% |
| Financial debts | 170/4 | €23,283 | €10,892 | -€12,391 | -53.2% |
| Amounts payable within one year | 42/48 | €29,722 | €47,605 | +€17,883 | +60.2% |
| Current portion of amounts payable after more than one year | 42 | €11,690 | €12,391 | +€701 | +6.0% |
| Trade debts | 44 | €437 | €19,372 | +€18,935 | +4336.9% |
| Suppliers | 440/4 | €437 | €19,372 | +€18,935 | +4336.9% |
| Taxes, remuneration and social security | 45 | €7,776 | €5,842 | -€1,934 | -24.9% |
| Taxes | 450/3 | €7,776 | €5,842 | -€1,934 | -24.9% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €9,820 | €10,000 | +€180 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,838 | €8,583 | +€6,745 | +366.9% |
| Other operating charges | 640/8 | €534 | €211 | -€322 | -60.4% |
| Gross operating margin | 9900 | €17,027 | -€3,509 | -€20,536 | |
| Operating profit (loss) | 9901 | €14,655 | -€12,304 | -€26,959 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €24 | €1,657 | +€1,633 | +6894.0% |
| Recurring financial charges | 65 | €24 | €1,657 | +€1,633 | +6894.0% |
| Profit (loss) for the period before taxes | 9903 | €14,634 | -€13,960 | -€28,595 | |
| Income taxes | 67/77 | €2,242 | €0 | -€2,242 | -100.0% |
| Profit (loss) for the period | 9904 | €12,392 | -€13,960 | -€26,352 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,392 | -€13,960 | -€26,352 |
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 11 October 2026 via checked.be.