VDH BOOKS: 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 BOOKS
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Receivables within one year -€60,622
down €60,622 (-96.3%), from €62,921 to €2,299
of which Other amounts receivable: -€62,704
- Stocks and contracts -€35,790
down €35,790 (-47.3%), from €75,619 to €39,829
- Deferred charges and accrued income -€3,116
no longer reported in 2025 (was €3,116)
- Profit (loss) carried forward -€36,543
down €36,543 (-17.3%), from -€211,821 to -€248,364
- Other debts +€5,602
up €5,602 (+280%), from €2,000 to €7,602
- Write-downs +€35,000
new in 2025: €35,000
- Gross operating margin -€21,284
down €21,284, from €20,187 to -€1,097
- Financial income -€3,116
no longer reported in 2025 (was €3,116)
- Other operating charges -€1,096
down €1,096 (-79.6%), from €1,377 to €281
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 | €141,777 | €112,133 | -€29,644 | -20.9% |
| Current assets | 29/58 | €141,777 | €112,133 | -€29,644 | -20.9% |
| Stocks and contracts in progress | 3 | €75,619 | €39,829 | -€35,790 | -47.3% |
| Stocks | 30/36 | €75,619 | €39,829 | -€35,790 | -47.3% |
| Amounts receivable within one year | 40/41 | €62,921 | €2,299 | -€60,622 | -96.3% |
| Trade receivables | 40 | €70 | €2,152 | +€2,082 | +2,962% |
| Other amounts receivable | 41 | €62,851 | €146 | -€62,704 | -99.8% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €121 | €6 | -€115 | -95.4% |
| Deferred charges and accrued income | 490/1 | €3,116 | - | -€3,116 | |
| Total equity and liabilities | 10/49 | €141,777 | €112,133 | -€29,644 | -20.9% |
| Equity | 10/15 | €138,179 | €101,636 | -€36,543 | -26.4% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,821 | -€248,364 | -€36,543 | -17.3% |
| Amounts payable | 17/49 | €3,598 | €10,498 | +€6,899 | +192% |
| Amounts payable within one year | 42/48 | €3,598 | €10,498 | +€6,899 | +192% |
| Trade debts | 44 | €1,598 | €2,896 | +€1,298 | +81.2% |
| Suppliers | 440/4 | €1,598 | €2,896 | +€1,298 | +81.2% |
| Other amounts payable | 47/48 | €2,000 | €7,602 | +€5,602 | +280% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,000 | +€35,000 | |
| Other operating charges | 640/8 | €1,377 | €281 | -€1,096 | -79.6% |
| Gross operating margin | 9900 | €20,187 | -€1,097 | -€21,284 | |
| Operating profit (loss) | 9901 | €18,810 | -€36,378 | -€55,188 | |
| Financial income | 75/76B | €3,116 | - | -€3,116 | |
| Recurring financial income | 75 | €3,116 | - | -€3,116 | |
| Financial charges | 65/66B | €150 | €165 | +€15 | +10.0% |
| Recurring financial charges | 65 | €150 | €165 | +€15 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €21,776 | -€36,543 | -€58,319 | |
| Profit (loss) for the period | 9904 | €21,776 | -€36,543 | -€58,319 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,776 | -€36,543 | -€58,319 |
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 20 October 2026 via checked.be.