vdh.gent: 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.gent
Largest movements
- Cash -€32,439
down €32,439 (-63.7%), from €50,908 to €18,469
mainly Tax, wage and social debts (-€15,042) and Receivables within one year (-€13,739)
- Receivables within one year +€13,739
up €13,739 (+131%), from €10,469 to €24,209
of which Trade receivables: +€7,750
- Tangible fixed assets -€3,555
down €3,555 (-40.0%), from €8,883 to €5,328
of which Furniture and vehicles: -€2,523
- Tax, wage and social debts -€15,042
down €15,042 (-64.5%), from €23,325 to €8,283
- Profit (loss) carried forward -€5,701
down €5,701 (-104%), from -€5,477 to -€11,178
- Trade debts -€1,715
down €1,715 (-76.7%), from €2,236 to €521
- Gross operating margin +€1,495
up €1,495 (+61.1%), from €2,445 to €3,939
- Depreciation +€1,006
up €1,006 (+27.8%), from €3,618 to €4,624
- Other operating charges +€510
up €510 (+75.3%), from €677 to €1,186
- Taxes +€389
up €389, from €0 to €389
- Financial charges -€271
down €271 (-7.3%), from €3,712 to €3,441
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 | €72,419 | €50,384 | -€22,035 | -30.4% |
| Fixed assets | 21/28 | €9,358 | €5,803 | -€3,555 | -38.0% |
| Tangible fixed assets | 22/27 | €8,883 | €5,328 | -€3,555 | -40.0% |
| Plant, machinery and equipment | 23 | €1,868 | €837 | -€1,032 | -55.2% |
| Furniture and vehicles | 24 | €7,015 | €4,492 | -€2,523 | -36.0% |
| Financial fixed assets | 28 | €475 | €475 | = | 0.0% |
| Current assets | 29/58 | €63,060 | €44,580 | -€18,480 | -29.3% |
| Amounts receivable within one year | 40/41 | €10,469 | €24,209 | +€13,739 | +131% |
| Trade receivables | 40 | €10,469 | €18,220 | +€7,750 | +74.0% |
| Other amounts receivable | 41 | €0 | €5,989 | +€5,989 | |
| Cash at bank and in hand | 54/58 | €50,908 | €18,469 | -€32,439 | -63.7% |
| Deferred charges and accrued income | 490/1 | €1,683 | €1,902 | +€220 | +13.0% |
| Total equity and liabilities | 10/49 | €72,419 | €50,384 | -€22,035 | -30.4% |
| Equity | 10/15 | €38,723 | €33,022 | -€5,701 | -14.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €40,200 | €40,200 | = | 0.0% |
| Distributable reserves | 133 | €40,200 | €40,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,477 | -€11,178 | -€5,701 | -104% |
| Amounts payable | 17/49 | €33,695 | €17,361 | -€16,334 | -48.5% |
| Amounts payable within one year | 42/48 | €33,660 | €17,361 | -€16,299 | -48.4% |
| Trade debts | 44 | €2,236 | €521 | -€1,715 | -76.7% |
| Suppliers | 440/4 | €2,236 | €521 | -€1,715 | -76.7% |
| Taxes, remuneration and social security | 45 | €23,325 | €8,283 | -€15,042 | -64.5% |
| Taxes | 450/3 | €23,325 | €8,283 | -€15,042 | -64.5% |
| Other amounts payable | 47/48 | €8,099 | €8,558 | +€458 | +5.7% |
| Accrued charges and deferred income | 492/3 | €35 | €0 | -€35 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,618 | €4,624 | +€1,006 | +27.8% |
| Other operating charges | 640/8 | €677 | €1,186 | +€510 | +75.3% |
| Gross operating margin | 9900 | €2,445 | €3,939 | +€1,495 | +61.1% |
| Operating profit (loss) | 9901 | -€1,850 | -€1,871 | -€21 | -1.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,712 | €3,441 | -€271 | -7.3% |
| Recurring financial charges | 65 | €3,712 | €3,441 | -€271 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,562 | -€5,312 | +€251 | +4.5% |
| Income taxes | 67/77 | €0 | €389 | +€389 | |
| Profit (loss) for the period | 9904 | -€5,562 | -€5,701 | -€139 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,562 | -€5,701 | -€139 | -2.5% |
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 19 October 2026 via checked.be.