VDH Law: 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 Law
Largest movements
- Receivables within one year -€61,449
down €61,449 (-85.3%), from €72,061 to €10,613
of which Other amounts receivable: -€43,801
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Tangible fixed assets +€17,443
up €17,443 (+71.6%), from €24,367 to €41,810
of which Furniture and vehicles: +€18,043
- Cash +€8,480
up €8,480 (+22.0%), from €38,562 to €47,042
mainly Net result for the year (+€81,001) and Receivables within one year (+€61,449)
- Other debts -€60,000
down €60,000 (-42.9%), from €140,000 to €80,000
- Tax, wage and social debts +€3,676
up €3,676 (+46.5%), from €7,913 to €11,590
of which Remuneration and social security: +€4,176
- Gross operating margin +€18,902
up €18,902 (+19.0%), from €99,472 to €118,374
- Taxes +€4,997
up €4,997 (+25.0%), from €19,993 to €24,991
- Depreciation +€2,557
up €2,557 (+26.4%), from €9,687 to €12,244
- Financial income -€1,896
down €1,896 (-77.7%), from €2,440 to €544
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 | €155,646 | €100,146 | -€55,501 | -35.7% |
| Fixed assets | 21/28 | €24,367 | €41,810 | +€17,443 | +71.6% |
| Tangible fixed assets | 22/27 | €24,367 | €41,810 | +€17,443 | +71.6% |
| Furniture and vehicles | 24 | €21,619 | €39,663 | +€18,043 | +83.5% |
| Other tangible fixed assets | 26 | €2,747 | €2,147 | -€600 | -21.8% |
| Current assets | 29/58 | €131,279 | €58,336 | -€72,944 | -55.6% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 291 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €72,061 | €10,613 | -€61,449 | -85.3% |
| Trade receivables | 40 | €18,473 | €824 | -€17,648 | -95.5% |
| Other amounts receivable | 41 | €53,589 | €9,788 | -€43,801 | -81.7% |
| Cash at bank and in hand | 54/58 | €38,562 | €47,042 | +€8,480 | +22.0% |
| Deferred charges and accrued income | 490/1 | €656 | €681 | +€25 | +3.8% |
| Total equity and liabilities | 10/49 | €155,646 | €100,146 | -€55,501 | -35.7% |
| Equity | 10/15 | €7,346 | €8,347 | +€1,001 | +13.6% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €2,846 | €3,847 | +€1,001 | +35.2% |
| Distributable reserves | 133 | €2,846 | €3,847 | +€1,001 | +35.2% |
| Amounts payable | 17/49 | €148,301 | €91,799 | -€56,502 | -38.1% |
| Amounts payable within one year | 42/48 | €147,913 | €91,799 | -€56,114 | -37.9% |
| Trade debts | 44 | - | €209 | +€209 | |
| Suppliers | 440/4 | - | €209 | +€209 | |
| Taxes, remuneration and social security | 45 | €7,913 | €11,590 | +€3,676 | +46.5% |
| Taxes | 450/3 | €7,913 | €7,413 | -€500 | -6.3% |
| Remuneration and social security | 454/9 | - | €4,176 | +€4,176 | |
| Other amounts payable | 47/48 | €140,000 | €80,000 | -€60,000 | -42.9% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,687 | €12,244 | +€2,557 | +26.4% |
| Other operating charges | 640/8 | €387 | €399 | +€12 | +3.1% |
| Gross operating margin | 9900 | €99,472 | €118,374 | +€18,902 | +19.0% |
| Operating profit (loss) | 9901 | €89,398 | €105,731 | +€16,333 | +18.3% |
| Financial income | 75/76B | €2,440 | €544 | -€1,896 | -77.7% |
| Recurring financial income | 75 | €2,440 | €544 | -€1,896 | -77.7% |
| Financial charges | 65/66B | €445 | €283 | -€161 | -36.3% |
| Recurring financial charges | 65 | €445 | €283 | -€161 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €91,394 | €105,992 | +€14,598 | +16.0% |
| Income taxes | 67/77 | €19,993 | €24,991 | +€4,997 | +25.0% |
| Profit (loss) for the period | 9904 | €71,400 | €81,001 | +€9,601 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,400 | €81,001 | +€9,601 | +13.4% |
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 26 October 2026 via checked.be.