VDH Solutions: 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 Solutions
Largest movements
- Receivables within one year -€101,802
down €101,802 (-46.5%), from €218,735 to €116,934
of which Trade receivables: -€128,397
- Cash -€2,698
down €2,698 (-9.1%), from €29,749 to €27,051
mainly Trade debts (-€82,831) and Contributions, distributions and other (-€33,141)
- Trade debts -€82,831
down €82,831 (-78.6%), from €105,423 to €22,592
- Other debts +€33,141
up €33,141, from €0 to €33,141
- Tax, wage and social debts -€29,758
down €29,758 (-53.8%), from €55,311 to €25,553
of which Taxes: -€29,927
- Reserves -€21,860
down €21,860 (-26.7%), from €81,968 to €60,108
- Gross operating margin -€42,629
down €42,629 (-26.0%), from €164,083 to €121,454
- Taxes -€12,836
down €12,836 (-67.7%), from €18,948 to €6,112
- Staff costs +€9,749
up €9,749 (+11.0%), from €88,976 to €98,725
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 | €254,065 | €151,576 | -€102,489 | -40.3% |
| Formation expenses | 20 | €388 | €0 | -€388 | -100% |
| Fixed assets | 21/28 | €3,901 | €4,660 | +€758 | +19.4% |
| Tangible fixed assets | 22/27 | €3,582 | €4,341 | +€758 | +21.2% |
| Plant, machinery and equipment | 23 | - | €2,077 | +€2,077 | |
| Furniture and vehicles | 24 | €1,596 | €583 | -€1,013 | -63.5% |
| Other tangible fixed assets | 26 | €1,987 | €1,681 | -€306 | -15.4% |
| Financial fixed assets | 28 | €319 | €319 | = | 0.0% |
| Current assets | 29/58 | €249,776 | €146,916 | -€102,859 | -41.2% |
| Amounts receivable within one year | 40/41 | €218,735 | €116,934 | -€101,802 | -46.5% |
| Trade receivables | 40 | €209,473 | €81,075 | -€128,397 | -61.3% |
| Other amounts receivable | 41 | €9,263 | €35,858 | +€26,595 | +287% |
| Cash at bank and in hand | 54/58 | €29,749 | €27,051 | -€2,698 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,292 | €2,932 | +€1,640 | +127% |
| Total equity and liabilities | 10/49 | €254,065 | €151,576 | -€102,489 | -40.3% |
| Equity | 10/15 | €91,968 | €70,108 | -€21,860 | -23.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €81,968 | €60,108 | -€21,860 | -26.7% |
| Distributable reserves | 133 | €81,968 | €60,108 | -€21,860 | -26.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €162,097 | €81,468 | -€80,629 | -49.7% |
| Amounts payable within one year | 42/48 | €160,734 | €81,285 | -€79,448 | -49.4% |
| Trade debts | 44 | €105,423 | €22,592 | -€82,831 | -78.6% |
| Suppliers | 440/4 | €105,423 | €22,592 | -€82,831 | -78.6% |
| Taxes, remuneration and social security | 45 | €55,311 | €25,553 | -€29,758 | -53.8% |
| Taxes | 450/3 | €47,797 | €17,869 | -€29,927 | -62.6% |
| Remuneration and social security | 454/9 | €7,514 | €7,683 | +€169 | +2.3% |
| Other amounts payable | 47/48 | €0 | €33,141 | +€33,141 | |
| Accrued charges and deferred income | 492/3 | €1,363 | €182 | -€1,181 | -86.6% |
| Remuneration, social security and pensions | 62 | €88,976 | €98,725 | +€9,749 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,910 | €2,420 | +€510 | +26.7% |
| Other operating charges | 640/8 | €2,503 | €1,555 | -€948 | -37.9% |
| Gross operating margin | 9900 | €164,083 | €121,454 | -€42,629 | -26.0% |
| Operating profit (loss) | 9901 | €70,694 | €18,754 | -€51,941 | -73.5% |
| Financial income | 75/76B | €0 | €20 | +€20 | |
| Recurring financial income | 75 | €0 | €20 | +€20 | |
| Financial charges | 65/66B | €886 | €1,380 | +€494 | +55.8% |
| Recurring financial charges | 65 | €886 | €1,380 | +€494 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | €69,808 | €17,393 | -€52,415 | -75.1% |
| Income taxes | 67/77 | €18,948 | €6,112 | -€12,836 | -67.7% |
| Profit (loss) for the period | 9904 | €50,860 | €11,281 | -€39,578 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,860 | €11,281 | -€39,578 | -77.8% |
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 29 October 2026 via checked.be.