VDHOUT: 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.
VDHOUT
Largest movements
- Receivables within one year -€20,372
down €20,372 (-52.2%), from €39,006 to €18,634
of which Trade receivables: -€20,261
- Stocks and contracts -€4,491
down €4,491 (-46.5%), from €9,666 to €5,175
- Deferred charges and accrued income -€3,716
down €3,716 (-100%), from €3,716 to €0
- Cash -€3,642
down €3,642 (-11.3%), from €32,109 to €28,467
mainly Trade debts (-€20,310) and Contributions, distributions and other (-€14,118)
- Tangible fixed assets -€1,566
down €1,566 (-65.6%), from €2,388 to €822
of which Furniture and vehicles: -€1,281
- Trade debts -€20,310
down €20,310 (-88.9%), from €22,846 to €2,536
- Other debts -€8,232
down €8,232 (-25.7%), from €32,064 to €23,832
- Current portion of long-term debt -€2,671
down €2,671 (-100%), from €2,671 to €0
- Reserves -€2,420
down €2,420 (-11.6%), from €20,934 to €18,514
- Depreciation -€4,135
down €4,135 (-72.5%), from €5,701 to €1,566
- Taxes +€2,934
up €2,934 (+258%), from €1,136 to €4,071
- Financial charges -€982
down €982 (-32.5%), from €3,017 to €2,035
of which Financial charges: -€982
- Other operating charges +€622
up €622 (+107%), from €579 to €1,201
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 | €86,884 | €53,098 | -€33,787 | -38.9% |
| Fixed assets | 21/28 | €2,388 | €822 | -€1,566 | -65.6% |
| Tangible fixed assets | 22/27 | €2,388 | €822 | -€1,566 | -65.6% |
| Plant, machinery and equipment | 23 | €1,107 | €822 | -€286 | -25.8% |
| Furniture and vehicles | 24 | €1,281 | €0 | -€1,281 | -100% |
| Current assets | 29/58 | €84,496 | €52,276 | -€32,220 | -38.1% |
| Stocks and contracts in progress | 3 | €9,666 | €5,175 | -€4,491 | -46.5% |
| Stocks | 30/36 | €9,666 | €5,175 | -€4,491 | -46.5% |
| Amounts receivable within one year | 40/41 | €39,006 | €18,634 | -€20,372 | -52.2% |
| Trade receivables | 40 | €37,719 | €17,458 | -€20,261 | -53.7% |
| Other amounts receivable | 41 | €1,286 | €1,176 | -€111 | -8.6% |
| Cash at bank and in hand | 54/58 | €32,109 | €28,467 | -€3,642 | -11.3% |
| Deferred charges and accrued income | 490/1 | €3,716 | €0 | -€3,716 | -100% |
| Total equity and liabilities | 10/49 | €86,884 | €53,098 | -€33,787 | -38.9% |
| Equity | 10/15 | €25,934 | €23,514 | -€2,420 | -9.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €20,934 | €18,514 | -€2,420 | -11.6% |
| Distributable reserves | 133 | €20,934 | €18,514 | -€2,420 | -11.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €60,950 | €29,583 | -€31,367 | -51.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €58,717 | €27,747 | -€30,970 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €2,671 | €0 | -€2,671 | -100% |
| Trade debts | 44 | €22,846 | €2,536 | -€20,310 | -88.9% |
| Suppliers | 440/4 | €22,846 | €2,536 | -€20,310 | -88.9% |
| Taxes, remuneration and social security | 45 | €1,136 | €1,379 | +€242 | +21.3% |
| Taxes | 450/3 | €1,136 | €1,379 | +€242 | +21.3% |
| Other amounts payable | 47/48 | €32,064 | €23,832 | -€8,232 | -25.7% |
| Accrued charges and deferred income | 492/3 | €2,233 | €1,836 | -€397 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,701 | €1,566 | -€4,135 | -72.5% |
| Other operating charges | 640/8 | €579 | €1,201 | +€622 | +107% |
| Gross operating margin | 9900 | €20,441 | €20,570 | +€130 | +0.6% |
| Operating profit (loss) | 9901 | €14,160 | €17,803 | +€3,643 | +25.7% |
| Financial income | 75/76B | €10 | €0 | -€10 | -97.8% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -97.8% |
| Financial charges | 65/66B | €3,017 | €2,035 | -€982 | -32.5% |
| Recurring financial charges | 65 | €3,017 | €2,035 | -€982 | -32.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €11,154 | €15,768 | +€4,614 | +41.4% |
| Income taxes | 67/77 | €1,136 | €4,071 | +€2,934 | +258% |
| Profit (loss) for the period | 9904 | €10,018 | €11,698 | +€1,680 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,018 | €11,698 | +€1,680 | +16.8% |
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 16 October 2026 via checked.be.