VDG MEDICAL: 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 MEDICAL
Largest movements
- Tangible fixed assets +€395,614
up €395,614 (+1,085%), from €36,474 to €432,087
of which Land and buildings: +€408,918
- Deferred charges and accrued income +€14,834
new in 2025: €14,834
- Receivables within one year -€10,142
down €10,142 (-21.4%), from €47,393 to €37,251
of which Trade receivables: -€17,750
- Cash -€8,882
down €8,882 (-41.7%), from €21,278 to €12,396
mainly Investment in fixed assets (net) (-€420,394) and Deferred charges and accrued income (-€14,834)
- Debts after one year +€316,269
up €316,269 (+1,407%), from €22,481 to €338,750
- Profit (loss) carried forward +€51,395
up €51,395 (+99.8%), from €51,476 to €102,871
- Current portion of long-term debt +€19,460
up €19,460 (+231%), from €8,418 to €27,878
- Tax, wage and social debts +€5,297
up €5,297 (+31.4%), from €16,872 to €22,170
of which Taxes: +€8,798
- Gross operating margin +€10,643
up €10,643 (+12.1%), from €87,844 to €98,487
- Depreciation +€8,208
up €8,208 (+49.5%), from €16,573 to €24,781
- Financial charges +€6,627
up €6,627 (+315%), from €2,106 to €8,734
- Other operating charges -€2,203
down €2,203 (-78.0%), from €2,822 to €620
- Staff costs -€1,520
no longer reported in 2025 (was €1,520)
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 | €105,145 | €496,568 | +€391,423 | +372% |
| Fixed assets | 21/28 | €36,474 | €432,087 | +€395,614 | +1,085% |
| Tangible fixed assets | 22/27 | €36,474 | €432,087 | +€395,614 | +1,085% |
| Land and buildings | 22 | - | €408,918 | +€408,918 | |
| Furniture and vehicles | 24 | €30,389 | €23,170 | -€7,219 | -23.8% |
| Other tangible fixed assets | 26 | €6,085 | - | -€6,085 | |
| Current assets | 29/58 | €68,671 | €64,481 | -€4,190 | -6.1% |
| Amounts receivable within one year | 40/41 | €47,393 | €37,251 | -€10,142 | -21.4% |
| Trade receivables | 40 | €17,750 | - | -€17,750 | |
| Other amounts receivable | 41 | €29,643 | €37,251 | +€7,608 | +25.7% |
| Cash at bank and in hand | 54/58 | €21,278 | €12,396 | -€8,882 | -41.7% |
| Deferred charges and accrued income | 490/1 | - | €14,834 | +€14,834 | |
| Total equity and liabilities | 10/49 | €105,145 | €496,568 | +€391,423 | +372% |
| Equity | 10/15 | €55,476 | €106,871 | +€51,395 | +92.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,476 | €102,871 | +€51,395 | +99.8% |
| Amounts payable | 17/49 | €49,669 | €389,697 | +€340,028 | +685% |
| Amounts payable after more than one year | 17 | €22,481 | €338,750 | +€316,269 | +1,407% |
| Financial debts | 170/4 | €22,481 | €338,750 | +€316,269 | +1,407% |
| Amounts payable within one year | 42/48 | €27,188 | €50,947 | +€23,759 | +87.4% |
| Current portion of amounts payable after more than one year | 42 | €8,418 | €27,878 | +€19,460 | +231% |
| Trade debts | 44 | €1,898 | €900 | -€998 | -52.6% |
| Suppliers | 440/4 | €1,898 | €900 | -€998 | -52.6% |
| Taxes, remuneration and social security | 45 | €16,872 | €22,170 | +€5,297 | +31.4% |
| Taxes | 450/3 | €13,372 | €22,170 | +€8,798 | +65.8% |
| Remuneration and social security | 454/9 | €3,501 | - | -€3,501 | |
| Remuneration, social security and pensions | 62 | €1,520 | - | -€1,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,573 | €24,781 | +€8,208 | +49.5% |
| Other operating charges | 640/8 | €2,822 | €620 | -€2,203 | -78.0% |
| Gross operating margin | 9900 | €87,844 | €98,487 | +€10,643 | +12.1% |
| Operating profit (loss) | 9901 | €66,928 | €73,086 | +€6,158 | +9.2% |
| Financial income | 75/76B | €25 | - | -€25 | |
| Recurring financial income | 75 | €25 | - | -€25 | |
| Financial charges | 65/66B | €2,106 | €8,734 | +€6,627 | +315% |
| Recurring financial charges | 65 | €2,106 | €8,734 | +€6,627 | +315% |
| Profit (loss) for the period before taxes | 9903 | €64,847 | €64,353 | -€494 | -0.8% |
| Income taxes | 67/77 | €13,372 | €12,957 | -€414 | -3.1% |
| Profit (loss) for the period | 9904 | €51,476 | €51,395 | -€80 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,476 | €51,395 | -€80 | -0.2% |
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 31 October 2026 via checked.be.