VDESIGNS: 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.
VDESIGNS
Largest movements
- Receivables within one year -€35,963
down €35,963 (-26.2%), from €137,260 to €101,296
of which Other amounts receivable: -€55,389
- Stocks and contracts -€11,510
down €11,510 (-90.9%), from €12,656 to €1,146
- Tangible fixed assets -€6,708
down €6,708 (-2.2%), from €301,078 to €294,370
of which Land and buildings: -€9,036
- Cash +€6,618
up €6,618 (+510%), from €1,299 to €7,917
mainly Receivables within one year (+€35,963) and Other debts (+€23,254)
- Trade debts -€32,930
down €32,930 (-65.4%), from €50,337 to €17,407
- Other debts +€23,254
up €23,254 (+42.1%), from €55,180 to €78,434
- Debts after one year -€22,992
down €22,992 (-9.3%), from €245,983 to €222,991
- Advances received -€15,269
no longer reported in 2025 (was €15,269)
- Accrued charges and deferred income -€13,420
down €13,420 (-82.3%), from €16,310 to €2,890
- Gross operating margin +€16,200
up €16,200 (+70.6%), from €22,933 to €39,133
- Financial charges +€2,799
up €2,799 (+55.2%), from €5,073 to €7,873
- Other operating charges +€1,611
up €1,611 (+43.3%), from €3,719 to €5,330
- Taxes +€1,299
up €1,299 (+488%), from €266 to €1,565
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 | €454,522 | €407,735 | -€46,787 | -10.3% |
| Fixed assets | 21/28 | €301,078 | €294,370 | -€6,708 | -2.2% |
| Tangible fixed assets | 22/27 | €301,078 | €294,370 | -€6,708 | -2.2% |
| Land and buildings | 22 | €282,072 | €273,035 | -€9,036 | -3.2% |
| Plant, machinery and equipment | 23 | €18,436 | €15,956 | -€2,480 | -13.5% |
| Furniture and vehicles | 24 | €570 | €5,378 | +€4,809 | +844% |
| Current assets | 29/58 | €153,444 | €113,365 | -€40,079 | -26.1% |
| Stocks and contracts in progress | 3 | €12,656 | €1,146 | -€11,510 | -90.9% |
| Stocks | 30/36 | €12,656 | €1,146 | -€11,510 | -90.9% |
| Amounts receivable within one year | 40/41 | €137,260 | €101,296 | -€35,963 | -26.2% |
| Trade receivables | 40 | €79,773 | €99,199 | +€19,426 | +24.4% |
| Other amounts receivable | 41 | €57,486 | €2,098 | -€55,389 | -96.4% |
| Cash at bank and in hand | 54/58 | €1,299 | €7,917 | +€6,618 | +510% |
| Deferred charges and accrued income | 490/1 | €2,230 | €3,006 | +€776 | +34.8% |
| Total equity and liabilities | 10/49 | €454,522 | €407,735 | -€46,787 | -10.3% |
| Equity | 10/15 | €48,882 | €59,137 | +€10,255 | +21.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €42,682 | €52,937 | +€10,255 | +24.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,822 | €51,077 | +€10,255 | +25.1% |
| Amounts payable | 17/49 | €405,640 | €348,598 | -€57,042 | -14.1% |
| Amounts payable after more than one year | 17 | €245,983 | €222,991 | -€22,992 | -9.3% |
| Financial debts | 170/4 | €245,983 | €222,991 | -€22,992 | -9.3% |
| Amounts payable within one year | 42/48 | €143,347 | €122,717 | -€20,630 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €22,562 | €22,992 | +€430 | +1.9% |
| Financial debts | 43 | - | €151 | +€151 | |
| Credit institutions | 430/8 | - | €151 | +€151 | |
| Trade debts | 44 | €50,337 | €17,407 | -€32,930 | -65.4% |
| Suppliers | 440/4 | €50,337 | €17,407 | -€32,930 | -65.4% |
| Advances received on contracts in progress | 46 | €15,269 | - | -€15,269 | |
| Taxes, remuneration and social security | 45 | - | €3,733 | +€3,733 | |
| Taxes | 450/3 | - | €3,733 | +€3,733 | |
| Other amounts payable | 47/48 | €55,180 | €78,434 | +€23,254 | +42.1% |
| Accrued charges and deferred income | 492/3 | €16,310 | €2,890 | -€13,420 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,856 | €14,110 | +€254 | +1.8% |
| Other operating charges | 640/8 | €3,719 | €5,330 | +€1,611 | +43.3% |
| Gross operating margin | 9900 | €22,933 | €39,133 | +€16,200 | +70.6% |
| Operating profit (loss) | 9901 | €5,358 | €19,693 | +€14,334 | +268% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €5,073 | €7,873 | +€2,799 | +55.2% |
| Recurring financial charges | 65 | €5,073 | €7,873 | +€2,799 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | €285 | €11,820 | +€11,535 | +4,048% |
| Income taxes | 67/77 | €266 | €1,565 | +€1,299 | +488% |
| Profit (loss) for the period | 9904 | €19 | €10,255 | +€10,236 | +55,093% |
| Profit (loss) for the period to be appropriated | 9905 | €19 | €10,255 | +€10,236 | +55,093% |
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 13 October 2026 via checked.be.