VDH & CO: 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.
VDH & CO
Largest movements
- Receivables within one year -€58,806
down €58,806 (-96.4%), from €60,984 to €2,178
- Tangible fixed assets -€6,017
down €6,017 (-3.9%), from €156,067 to €150,050
of which Land and buildings: -€5,667
- Other debts -€73,287
down €73,287 (-75.2%), from €97,491 to €24,204
- Profit (loss) carried forward +€17,841
up €17,841 (+7.8%), from -€227,534 to -€209,693
- Tax, wage and social debts -€10,206
down €10,206 (-96.4%), from €10,584 to €378
- Gross operating margin -€30,734
down €30,734 (-52.3%), from €58,716 to €27,982
- Other operating charges +€3,902
up €3,902 (+2167.7%), from €180 to €4,082
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 | €217,874 | €152,228 | -€65,646 | -30.1% |
| Fixed assets | 21/28 | €156,067 | €150,050 | -€6,017 | -3.9% |
| Tangible fixed assets | 22/27 | €156,067 | €150,050 | -€6,017 | -3.9% |
| Land and buildings | 22 | €154,667 | €149,000 | -€5,667 | -3.7% |
| Other tangible fixed assets | 26 | €1,400 | €1,050 | -€350 | -25.0% |
| Current assets | 29/58 | €61,807 | €2,178 | -€59,629 | -96.5% |
| Amounts receivable within one year | 40/41 | €60,984 | €2,178 | -€58,806 | -96.4% |
| Trade receivables | 40 | €60,984 | €2,178 | -€58,806 | -96.4% |
| Cash at bank and in hand | 54/58 | €823 | - | -€823 | |
| Total equity and liabilities | 10/49 | €217,874 | €152,228 | -€65,646 | -30.1% |
| Equity | 10/15 | €109,799 | €127,640 | +€17,841 | +16.2% |
| Contributions | 10/11 | €227,016 | €227,016 | = | 0.0% |
| Capital | 10 | €227,016 | €227,016 | = | 0.0% |
| Issued capital | 100 | €227,016 | €227,016 | = | 0.0% |
| Reserves | 13 | €110,317 | €110,317 | = | 0.0% |
| Non-distributable reserves | 130/1 | €110,317 | €110,317 | = | 0.0% |
| Legal reserve | 130 | €110,317 | €110,317 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,534 | -€209,693 | +€17,841 | +7.8% |
| Amounts payable | 17/49 | €108,075 | €24,588 | -€83,487 | -77.2% |
| Amounts payable within one year | 42/48 | €108,075 | €24,588 | -€83,487 | -77.2% |
| Financial debts | 43 | - | €7 | +€7 | |
| Credit institutions | 430/8 | - | €7 | +€7 | |
| Taxes, remuneration and social security | 45 | €10,584 | €378 | -€10,206 | -96.4% |
| Taxes | 450/3 | €10,584 | €378 | -€10,206 | -96.4% |
| Other amounts payable | 47/48 | €97,491 | €24,204 | -€73,287 | -75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,017 | €6,017 | = | 0.0% |
| Other operating charges | 640/8 | €180 | €4,082 | +€3,902 | +2167.7% |
| Gross operating margin | 9900 | €58,716 | €27,982 | -€30,734 | -52.3% |
| Operating profit (loss) | 9901 | €52,519 | €17,883 | -€34,636 | -65.9% |
| Financial charges | 65/66B | €27 | €42 | +€15 | +56.2% |
| Recurring financial charges | 65 | €27 | €42 | +€15 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €52,492 | €17,841 | -€34,651 | -66.0% |
| Profit (loss) for the period | 9904 | €52,492 | €17,841 | -€34,651 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,492 | €17,841 | -€34,651 | -66.0% |
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 4 October 2026 via checked.be.