VdEE: 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.
VdEE
Largest movements
- Current investments +€230,052
new in 2025: €230,052
- Cash -€43,022
down €43,022 (-65.7%), from €65,520 to €22,498
mainly Current investments (-€230,052) and Receivables within one year (-€40,845)
- Receivables within one year +€40,845
up €40,845 (+1935.4%), from €2,110 to €42,955
of which Trade receivables: +€42,072
- Reserves +€135,074
up €135,074 (+331.0%), from €40,813 to €175,887
- Tax, wage and social debts +€68,912
up €68,912 (+675.4%), from €10,203 to €79,116
- Other debts +€27,780
up €27,780 (+286.7%), from €9,689 to €37,469
- Gross operating margin +€128,434
up €128,434 (+242.5%), from €52,955 to €181,389
- Taxes +€34,821
up €34,821 (+341.3%), from €10,203 to €45,025
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 | €67,630 | €298,020 | +€230,390 | +340.7% |
| Fixed assets | 21/28 | - | €2,515 | +€2,515 | |
| Tangible fixed assets | 22/27 | - | €2,515 | +€2,515 | |
| Furniture and vehicles | 24 | - | €2,515 | +€2,515 | |
| Current assets | 29/58 | €67,630 | €295,505 | +€227,875 | +336.9% |
| Amounts receivable within one year | 40/41 | €2,110 | €42,955 | +€40,845 | +1935.4% |
| Trade receivables | 40 | €883 | €42,955 | +€42,072 | +4765.9% |
| Other amounts receivable | 41 | €1,228 | €0 | -€1,228 | -100.0% |
| Current investments | 50/53 | - | €230,052 | +€230,052 | |
| Cash at bank and in hand | 54/58 | €65,520 | €22,498 | -€43,022 | -65.7% |
| Total equity and liabilities | 10/49 | €67,630 | €298,020 | +€230,390 | +340.7% |
| Equity | 10/15 | €45,813 | €180,887 | +€135,074 | +294.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,813 | €175,887 | +€135,074 | +331.0% |
| Distributable reserves | 133 | €40,813 | €175,887 | +€135,074 | +331.0% |
| Amounts payable | 17/49 | €21,817 | €117,133 | +€95,316 | +436.9% |
| Amounts payable within one year | 42/48 | €21,817 | €117,133 | +€95,316 | +436.9% |
| Trade debts | 44 | €1,925 | €548 | -€1,377 | -71.5% |
| Suppliers | 440/4 | €1,925 | €548 | -€1,377 | -71.5% |
| Taxes, remuneration and social security | 45 | €10,203 | €79,116 | +€68,912 | +675.4% |
| Taxes | 450/3 | €10,203 | €79,116 | +€68,912 | +675.4% |
| Other amounts payable | 47/48 | €9,689 | €37,469 | +€27,780 | +286.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €485 | +€485 | |
| Other operating charges | 640/8 | €1,329 | €336 | -€993 | -74.7% |
| Gross operating margin | 9900 | €52,955 | €181,389 | +€128,434 | +242.5% |
| Operating profit (loss) | 9901 | €51,626 | €180,568 | +€128,942 | +249.8% |
| Financial income | 75/76B | - | €75 | +€75 | |
| Recurring financial income | 75 | - | €75 | +€75 | |
| Financial charges | 65/66B | €610 | €544 | -€65 | -10.7% |
| Recurring financial charges | 65 | €610 | €544 | -€65 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €51,017 | €180,098 | +€129,082 | +253.0% |
| Income taxes | 67/77 | €10,203 | €45,025 | +€34,821 | +341.3% |
| Profit (loss) for the period | 9904 | €40,813 | €135,074 | +€94,261 | +231.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,813 | €135,074 | +€94,261 | +231.0% |
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 6 October 2026 via checked.be.