VDH Strategies: 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 Strategies
Largest movements
- Cash +€58,522
up €58,522 (+286%), from €20,492 to €79,014
mainly Net result for the year (+€55,255) and Tax, wage and social debts (+€13,633)
- Receivables within one year +€7,790
up €7,790 (+198%), from €3,935 to €11,724
of which Trade receivables: +€5,818
- Deferred charges and accrued income -€1,669
down €1,669 (-52.6%), from €3,173 to €1,503
- Reserves +€55,255
up €55,255 (+384%), from €14,398 to €69,653
- Tax, wage and social debts +€13,633
up €13,633 (+141%), from €9,681 to €23,315
- Other debts -€4,906
no longer reported in 2025 (was €4,906)
- Gross operating margin +€52,089
up €52,089 (+280%), from €18,576 to €70,665
- Taxes +€10,980
up €10,980 (+296%), from €3,713 to €14,693
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 | €30,140 | €94,520 | +€64,381 | +214% |
| Fixed assets | 21/28 | €2,541 | €2,279 | -€262 | -10.3% |
| Tangible fixed assets | 22/27 | €2,541 | €2,279 | -€262 | -10.3% |
| Plant, machinery and equipment | 23 | €2,541 | €2,279 | -€262 | -10.3% |
| Current assets | 29/58 | €27,599 | €92,241 | +€64,642 | +234% |
| Amounts receivable within one year | 40/41 | €3,935 | €11,724 | +€7,790 | +198% |
| Trade receivables | 40 | €3,933 | €9,750 | +€5,818 | +148% |
| Other amounts receivable | 41 | €2 | €1,974 | +€1,972 | +94,357% |
| Cash at bank and in hand | 54/58 | €20,492 | €79,014 | +€58,522 | +286% |
| Deferred charges and accrued income | 490/1 | €3,173 | €1,503 | -€1,669 | -52.6% |
| Total equity and liabilities | 10/49 | €30,140 | €94,520 | +€64,381 | +214% |
| Equity | 10/15 | €14,898 | €70,153 | +€55,255 | +371% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €14,398 | €69,653 | +€55,255 | +384% |
| Distributable reserves | 133 | €14,398 | €69,653 | +€55,255 | +384% |
| Amounts payable | 17/49 | €15,242 | €24,367 | +€9,125 | +59.9% |
| Amounts payable within one year | 42/48 | €15,242 | €24,367 | +€9,125 | +59.9% |
| Trade debts | 44 | €654 | €1,053 | +€398 | +60.8% |
| Suppliers | 440/4 | €654 | €1,053 | +€398 | +60.8% |
| Taxes, remuneration and social security | 45 | €9,681 | €23,315 | +€13,633 | +141% |
| Taxes | 450/3 | €9,681 | €23,315 | +€13,633 | +141% |
| Other amounts payable | 47/48 | €4,906 | - | -€4,906 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75 | €262 | +€187 | +251% |
| Other operating charges | 640/8 | €392 | €400 | +€8 | +1.9% |
| Gross operating margin | 9900 | €18,576 | €70,665 | +€52,089 | +280% |
| Operating profit (loss) | 9901 | €18,110 | €70,004 | +€51,894 | +287% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | -€1 | €55 | +€57 | |
| Recurring financial charges | 65 | -€1 | €55 | +€57 | |
| Profit (loss) for the period before taxes | 9903 | €18,111 | €69,948 | +€51,838 | +286% |
| Income taxes | 67/77 | €3,713 | €14,693 | +€10,980 | +296% |
| Profit (loss) for the period | 9904 | €14,398 | €55,255 | +€40,858 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €14,398 | €55,255 | +€40,858 | +284% |
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 31 October 2026 via checked.be.