VDH AGRI: 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.
VDH AGRI
Largest movements
- Tangible fixed assets +€230,084
up €230,084 (+17.6%), from €1.3m to €1.5m
of which Furniture and vehicles: +€256,929
- Cash -€115,926
down €115,926 (-73.7%), from €157,259 to €41,333
mainly Investment in fixed assets (net) (-€447,282) and Receivables within one year (-€115,644)
- Receivables within one year +€115,644
up €115,644 (+52.2%), from €221,418 to €337,062
of which Trade receivables: +€110,844
- Other debts +€96,299
up €96,299 (+237%), from €40,709 to €137,009
- Debts after one year +€58,771
up €58,771 (+8.8%), from €665,399 to €724,170
of which Financial debts: +€58,771
- Trade debts +€43,185
up €43,185 (+106%), from €40,582 to €83,767
- Current portion of long-term debt +€23,699
up €23,699 (+13.1%), from €180,620 to €204,319
- Gross operating margin -€174,220
down €174,220 (-41.0%), from €424,799 to €250,579
- Depreciation -€20,410
down €20,410 (-8.6%), from €236,463 to €216,053
- Taxes -€6,295
down €6,295 (-99.8%), from €6,309 to €14
- Financial income -€4,744
down €4,744 (-21.9%), from €21,673 to €16,930
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 | €1,702,957 | €1,931,540 | +€228,583 | +13.4% |
| Fixed assets | 21/28 | €1,309,566 | €1,540,795 | +€231,229 | +17.7% |
| Intangible fixed assets | 21 | - | €3,395 | +€3,395 | |
| Tangible fixed assets | 22/27 | €1,307,291 | €1,537,375 | +€230,084 | +17.6% |
| Land and buildings | 22 | €387,928 | €358,450 | -€29,478 | -7.6% |
| Plant, machinery and equipment | 23 | €3,958 | €6,639 | +€2,681 | +67.7% |
| Furniture and vehicles | 24 | €915,139 | €1,172,068 | +€256,929 | +28.1% |
| Other tangible fixed assets | 26 | €266 | €218 | -€48 | -18.1% |
| Financial fixed assets | 28 | €2,275 | €25 | -€2,250 | -98.9% |
| Current assets | 29/58 | €393,391 | €390,745 | -€2,646 | -0.7% |
| Stocks and contracts in progress | 3 | €7,560 | €5,951 | -€1,609 | -21.3% |
| Stocks | 30/36 | €7,560 | €5,951 | -€1,609 | -21.3% |
| Amounts receivable within one year | 40/41 | €221,418 | €337,062 | +€115,644 | +52.2% |
| Trade receivables | 40 | €221,418 | €332,262 | +€110,844 | +50.1% |
| Other amounts receivable | 41 | - | €4,800 | +€4,800 | |
| Cash at bank and in hand | 54/58 | €157,259 | €41,333 | -€115,926 | -73.7% |
| Deferred charges and accrued income | 490/1 | €7,154 | €6,399 | -€755 | -10.6% |
| Total equity and liabilities | 10/49 | €1,702,957 | €1,931,540 | +€228,583 | +13.4% |
| Equity | 10/15 | €712,263 | €718,738 | +€6,475 | +0.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €382,488 | €397,677 | +€15,189 | +4.0% |
| Tax-exempt reserves | 132 | €105,988 | €121,177 | +€15,189 | +14.3% |
| Distributable reserves | 133 | €276,500 | €276,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,961 | €192,198 | +€5,237 | +2.8% |
| Investment grants | 15 | €92,814 | €78,863 | -€13,952 | -15.0% |
| Provisions and deferred taxes | 16 | €35,329 | €40,392 | +€5,063 | +14.3% |
| Deferred taxes | 168 | €35,329 | €40,392 | +€5,063 | +14.3% |
| Amounts payable | 17/49 | €955,364 | €1,172,410 | +€217,046 | +22.7% |
| Amounts payable after more than one year | 17 | €665,399 | €724,170 | +€58,771 | +8.8% |
| Financial debts | 170/4 | €625,911 | €684,682 | +€58,771 | +9.4% |
| Other amounts payable | 178/9 | €39,488 | €39,488 | = | 0.0% |
| Amounts payable within one year | 42/48 | €281,200 | €435,217 | +€154,017 | +54.8% |
| Current portion of amounts payable after more than one year | 42 | €180,620 | €204,319 | +€23,699 | +13.1% |
| Trade debts | 44 | €40,582 | €83,767 | +€43,185 | +106% |
| Suppliers | 440/4 | €40,582 | €83,767 | +€43,185 | +106% |
| Taxes, remuneration and social security | 45 | €19,289 | €10,123 | -€9,166 | -47.5% |
| Taxes | 450/3 | €19,289 | €10,123 | -€9,166 | -47.5% |
| Other amounts payable | 47/48 | €40,709 | €137,009 | +€96,299 | +237% |
| Accrued charges and deferred income | 492/3 | €8,765 | €13,022 | +€4,257 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,463 | €216,053 | -€20,410 | -8.6% |
| Other operating charges | 640/8 | €7,883 | €7,603 | -€279 | -3.5% |
| Non-recurring operating charges | 66A | - | €153 | +€153 | |
| Gross operating margin | 9900 | €424,799 | €250,579 | -€174,220 | -41.0% |
| Operating profit (loss) | 9901 | €180,454 | €26,769 | -€153,685 | -85.2% |
| Financial income | 75/76B | €21,673 | €16,930 | -€4,744 | -21.9% |
| Recurring financial income | 75 | €21,673 | €16,930 | -€4,744 | -21.9% |
| Financial charges | 65/66B | €20,153 | €18,195 | -€1,957 | -9.7% |
| Recurring financial charges | 65 | €20,153 | €18,195 | -€1,957 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €181,974 | €25,503 | -€156,471 | -86.0% |
| Transfer from deferred taxes | 780 | €703 | €2,605 | +€1,902 | +271% |
| Transfer to deferred taxes | 680 | €30,375 | €7,668 | -€22,707 | -74.8% |
| Income taxes | 67/77 | €6,309 | €14 | -€6,295 | -99.8% |
| Profit (loss) for the period | 9904 | €145,993 | €20,426 | -€125,567 | -86.0% |
| Transfer from tax-exempt reserves | 789 | €2,108 | €7,815 | +€5,706 | +271% |
| Transfer to tax-exempt reserves | 689 | €91,125 | €23,004 | -€68,121 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,976 | €5,237 | -€51,739 | -90.8% |
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 24 October 2026 via checked.be.