VDG PHARMA: 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 PHARMA
Largest movements
- Intangible fixed assets -€14,486
down €14,486 (-20.0%), from €72,431 to €57,945
- Debts after one year -€68,760
down €68,760 (-26.9%), from €255,629 to €186,869
- Profit (loss) carried forward +€42,205
up €42,205 (+21.3%), from €198,561 to €240,767
- Other debts +€16,665
up €16,665 (+26.4%), from €63,064 to €79,729
- Tax, wage and social debts -€8,873
down €8,873 (-48.3%), from €18,371 to €9,498
- Gross operating margin -€7,622
down €7,622 (-8.8%), from €87,113 to €79,490
- Taxes -€1,784
down €1,784 (-8.6%), from €20,681 to €18,897
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 | €663,594 | €644,872 | -€18,721 | -2.8% |
| Fixed assets | 21/28 | €657,547 | €643,061 | -€14,486 | -2.2% |
| Intangible fixed assets | 21 | €72,431 | €57,945 | -€14,486 | -20.0% |
| Financial fixed assets | 28 | €585,116 | €585,116 | = | 0.0% |
| Current assets | 29/58 | €6,047 | €1,812 | -€4,235 | -70.0% |
| Cash at bank and in hand | 54/58 | €6,047 | €1,812 | -€4,235 | -70.0% |
| Total equity and liabilities | 10/49 | €663,594 | €644,872 | -€18,721 | -2.8% |
| Equity | 10/15 | €253,561 | €295,767 | +€42,205 | +16.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,561 | €240,767 | +€42,205 | +21.3% |
| Amounts payable | 17/49 | €410,032 | €349,106 | -€60,926 | -14.9% |
| Amounts payable after more than one year | 17 | €255,629 | €186,869 | -€68,760 | -26.9% |
| Financial debts | 170/4 | €255,629 | €186,869 | -€68,760 | -26.9% |
| Amounts payable within one year | 42/48 | €153,238 | €162,236 | +€8,998 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €71,803 | €73,010 | +€1,206 | +1.7% |
| Taxes, remuneration and social security | 45 | €18,371 | €9,498 | -€8,873 | -48.3% |
| Taxes | 450/3 | €18,371 | €9,498 | -€8,873 | -48.3% |
| Other amounts payable | 47/48 | €63,064 | €79,729 | +€16,665 | +26.4% |
| Accrued charges and deferred income | 492/3 | €1,165 | - | -€1,165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,486 | €14,486 | = | 0.0% |
| Other operating charges | 640/8 | €182 | €208 | +€26 | +14.2% |
| Gross operating margin | 9900 | €87,113 | €79,490 | -€7,622 | -8.8% |
| Operating profit (loss) | 9901 | €72,445 | €64,796 | -€7,648 | -10.6% |
| Financial charges | 65/66B | €4,433 | €3,694 | -€739 | -16.7% |
| Recurring financial charges | 65 | €4,433 | €3,694 | -€739 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €68,012 | €61,103 | -€6,909 | -10.2% |
| Income taxes | 67/77 | €20,681 | €18,897 | -€1,784 | -8.6% |
| Profit (loss) for the period | 9904 | €47,331 | €42,205 | -€5,126 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,331 | €42,205 | -€5,126 | -10.8% |
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 10 October 2026 via checked.be.