VDG TECHNICS: 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.
VDG TECHNICS
Largest movements
- Receivables within one year -€37,314
down €37,314 (-27.6%), from €135,184 to €97,870
of which Other amounts receivable: -€44,995
- Financial fixed assets +€20,000
up €20,000 (+40000.0%), from €50 to €20,050
- Cash -€17,280
down €17,280 (-18.3%), from €94,544 to €77,264
mainly Investment in fixed assets (net) (-€27,777) and Debts after one year (-€18,352)
- Deferred charges and accrued income +€14,097
up €14,097 (+267.7%), from €5,266 to €19,363
- Tangible fixed assets -€12,940
down €12,940 (-17.2%), from €75,107 to €62,167
of which Furniture and vehicles: -€12,181
- Debts after one year -€18,352
down €18,352 (-33.7%), from €54,512 to €36,160
- Other debts -€6,489
down €6,489 (-5.8%), from €110,972 to €104,483
- Tax, wage and social debts -€4,670
down €4,670 (-26.5%), from €17,625 to €12,955
of which Taxes: -€7,070
- Gross operating margin -€73,949
down €73,949 (-67.6%), from €109,428 to €35,479
- Taxes -€13,621
down €13,621 (-78.2%), from €17,416 to €3,795
- Other operating charges -€4,943
down €4,943 (-78.2%), from €6,322 to €1,379
- Depreciation -€2,062
down €2,062 (-9.1%), from €22,779 to €20,717
- Financial charges -€2,006
down €2,006 (-60.8%), from €3,301 to €1,295
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 | €310,151 | €276,714 | -€33,437 | -10.8% |
| Fixed assets | 21/28 | €75,157 | €82,217 | +€7,060 | +9.4% |
| Tangible fixed assets | 22/27 | €75,107 | €62,167 | -€12,940 | -17.2% |
| Furniture and vehicles | 24 | €74,349 | €62,167 | -€12,181 | -16.4% |
| Leasing and similar rights | 25 | €759 | €0 | -€759 | -100.0% |
| Financial fixed assets | 28 | €50 | €20,050 | +€20,000 | +40000.0% |
| Current assets | 29/58 | €234,994 | €194,496 | -€40,497 | -17.2% |
| Amounts receivable within one year | 40/41 | €135,184 | €97,870 | -€37,314 | -27.6% |
| Trade receivables | 40 | €12,099 | €19,780 | +€7,681 | +63.5% |
| Other amounts receivable | 41 | €123,084 | €78,089 | -€44,995 | -36.6% |
| Cash at bank and in hand | 54/58 | €94,544 | €77,264 | -€17,280 | -18.3% |
| Deferred charges and accrued income | 490/1 | €5,266 | €19,363 | +€14,097 | +267.7% |
| Total equity and liabilities | 10/49 | €310,151 | €276,714 | -€33,437 | -10.8% |
| Equity | 10/15 | €102,841 | €99,834 | -€3,007 | -2.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,600 | €93,600 | = | 0.0% |
| Distributable reserves | 133 | €93,600 | €93,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,041 | €34 | -€3,007 | -98.9% |
| Amounts payable | 17/49 | €207,310 | €176,880 | -€30,430 | -14.7% |
| Amounts payable after more than one year | 17 | €54,512 | €36,160 | -€18,352 | -33.7% |
| Financial debts | 170/4 | €54,512 | €36,160 | -€18,352 | -33.7% |
| Amounts payable within one year | 42/48 | €152,798 | €139,440 | -€13,358 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €17,787 | €16,970 | -€817 | -4.6% |
| Trade debts | 44 | €6,414 | €5,031 | -€1,383 | -21.6% |
| Suppliers | 440/4 | €6,414 | €5,031 | -€1,383 | -21.6% |
| Taxes, remuneration and social security | 45 | €17,625 | €12,955 | -€4,670 | -26.5% |
| Taxes | 450/3 | €15,775 | €8,705 | -€7,070 | -44.8% |
| Remuneration and social security | 454/9 | €1,850 | €4,250 | +€2,400 | +129.7% |
| Other amounts payable | 47/48 | €110,972 | €104,483 | -€6,489 | -5.8% |
| Accrued charges and deferred income | 492/3 | - | €1,280 | +€1,280 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,779 | €20,717 | -€2,062 | -9.1% |
| Other operating charges | 640/8 | €6,322 | €1,379 | -€4,943 | -78.2% |
| Gross operating margin | 9900 | €109,428 | €35,479 | -€73,949 | -67.6% |
| Operating profit (loss) | 9901 | €80,327 | €13,383 | -€66,944 | -83.3% |
| Financial charges | 65/66B | €3,301 | €1,295 | -€2,006 | -60.8% |
| Recurring financial charges | 65 | €3,301 | €1,295 | -€2,006 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €77,026 | €12,088 | -€64,938 | -84.3% |
| Income taxes | 67/77 | €17,416 | €3,795 | -€13,621 | -78.2% |
| Profit (loss) for the period | 9904 | €59,610 | €8,293 | -€51,317 | -86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,610 | €8,293 | -€51,317 | -86.1% |
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 2 October 2026 via checked.be.