VDG Logies: 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.
VDG Logies
Largest movements
- Tangible fixed assets -€699,368
down €699,368 (-92.2%), from €758,544 to €59,176
of which Land and buildings: -€694,196
- Receivables after one year +€254,540
new in 2025: €254,540
- Receivables within one year +€192,638
up €192,638 (+36.0%), from €534,624 to €727,262
of which Trade receivables: +€204,507
- Cash +€14,258
up €14,258 (+53.8%), from €26,508 to €40,766
mainly Investment in fixed assets (net) (+€694,138) and Advances received (+€254,596)
- Debts after one year -€575,385
down €575,385 (-96.8%), from €594,189 to €18,804
- Advances received +€254,596
up €254,596 (+1,021%), from €24,941 to €279,537
- Reserves +€254,417
up €254,417 (+92.2%), from €275,796 to €530,212
of which Distributable reserves: +€254,417
- Other debts -€141,573
no longer reported in 2025 (was €141,573)
- Tax, wage and social debts +€66,609
up €66,609 (+80.8%), from €82,424 to €149,032
of which Taxes: +€69,939
- Gross operating margin +€149,080
up €149,080 (+36.2%), from €412,024 to €561,104
- Taxes +€76,582
up €76,582 (+152%), from €50,398 to €126,980
- Depreciation -€50,347
down €50,347 (-90.1%), from €55,898 to €5,551
- Financial charges -€32,286
down €32,286 (-47.8%), from €67,552 to €35,266
of which Financial charges: -€25,160
- Staff costs +€12,288
up €12,288 (+11.5%), from €106,466 to €118,754
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 | €1,331,387 | €1,092,496 | -€238,891 | -17.9% |
| Fixed assets | 21/28 | €765,584 | €65,896 | -€699,688 | -91.4% |
| Tangible fixed assets | 22/27 | €758,544 | €59,176 | -€699,368 | -92.2% |
| Land and buildings | 22 | €723,818 | €29,622 | -€694,196 | -95.9% |
| Plant, machinery and equipment | 23 | €34,726 | €29,554 | -€5,173 | -14.9% |
| Financial fixed assets | 28 | €7,040 | €6,720 | -€320 | -4.5% |
| Current assets | 29/58 | €565,803 | €1,026,600 | +€460,797 | +81.4% |
| Amounts receivable after more than one year | 29 | - | €254,540 | +€254,540 | |
| Other amounts receivable | 291 | - | €254,540 | +€254,540 | |
| Amounts receivable within one year | 40/41 | €534,624 | €727,262 | +€192,638 | +36.0% |
| Trade receivables | 40 | €38,912 | €243,419 | +€204,507 | +526% |
| Other amounts receivable | 41 | €495,712 | €483,842 | -€11,869 | -2.4% |
| Cash at bank and in hand | 54/58 | €26,508 | €40,766 | +€14,258 | +53.8% |
| Deferred charges and accrued income | 490/1 | €4,670 | €4,032 | -€638 | -13.7% |
| Total equity and liabilities | 10/49 | €1,331,387 | €1,092,496 | -€238,891 | -17.9% |
| Equity | 10/15 | €332,404 | €586,820 | +€254,417 | +76.5% |
| Contributions | 10/11 | €30,060 | €30,060 | = | 0.0% |
| Reserves | 13 | €275,796 | €530,212 | +€254,417 | +92.2% |
| Non-distributable reserves | 130/1 | €3,006 | €3,006 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,006 | €3,006 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,016 | €2,016 | = | 0.0% |
| Distributable reserves | 133 | €270,774 | €525,191 | +€254,417 | +94.0% |
| Profit (loss) carried forward | 14 | €26,548 | €26,548 | = | 0.0% |
| Amounts payable | 17/49 | €998,983 | €505,675 | -€493,308 | -49.4% |
| Amounts payable after more than one year | 17 | €594,189 | €18,804 | -€575,385 | -96.8% |
| Financial debts | 170/4 | €594,189 | €18,804 | -€575,385 | -96.8% |
| Amounts payable within one year | 42/48 | €404,794 | €486,859 | +€82,065 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €38,279 | €6,968 | -€31,310 | -81.8% |
| Trade debts | 44 | €117,578 | €51,322 | -€66,256 | -56.4% |
| Suppliers | 440/4 | €117,578 | €51,322 | -€66,256 | -56.4% |
| Advances received on contracts in progress | 46 | €24,941 | €279,537 | +€254,596 | +1,021% |
| Taxes, remuneration and social security | 45 | €82,424 | €149,032 | +€66,609 | +80.8% |
| Taxes | 450/3 | €68,999 | €138,937 | +€69,939 | +101% |
| Remuneration and social security | 454/9 | €13,425 | €10,095 | -€3,330 | -24.8% |
| Other amounts payable | 47/48 | €141,573 | - | -€141,573 | |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €106,466 | €118,754 | +€12,288 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,898 | €5,551 | -€50,347 | -90.1% |
| Other operating charges | 640/8 | €35,188 | €28,794 | -€6,394 | -18.2% |
| Gross operating margin | 9900 | €412,024 | €561,104 | +€149,080 | +36.2% |
| Operating profit (loss) | 9901 | €214,472 | €408,005 | +€193,533 | +90.2% |
| Financial income | 75/76B | €161 | €8,658 | +€8,497 | +5,291% |
| Recurring financial income | 75 | €161 | €8,658 | +€8,497 | +5,291% |
| Financial charges | 65/66B | €67,552 | €35,266 | -€32,286 | -47.8% |
| Recurring financial charges | 65 | €56,029 | €30,868 | -€25,160 | -44.9% |
| Non-recurring financial charges | 66B | €11,523 | €4,398 | -€7,126 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | €147,081 | €381,397 | +€234,316 | +159% |
| Income taxes | 67/77 | €50,398 | €126,980 | +€76,582 | +152% |
| Profit (loss) for the period | 9904 | €96,683 | €254,417 | +€157,734 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €96,683 | €254,417 | +€157,734 | +163% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.