VDK CONSOL: 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.
VDK CONSOL
Largest movements
- Cash +€44,254
up €44,254 (+104%), from €42,668 to €86,922
mainly Other debts (+€76,088) and Net result for the year (+€55,093)
- Current investments +€25,448
up €25,448 (+24.1%), from €105,594 to €131,042
- Tangible fixed assets -€14,967
down €14,967 (-5.9%), from €254,763 to €239,796
of which Land and buildings: -€14,368
- Other debts +€76,088
new in 2025: €76,088
- Tax, wage and social debts -€45,686
down €45,686 (-72.8%), from €62,732 to €17,046
of which Remuneration and social security: -€53,278
- Reserves +€38,027
up €38,027 (+23.8%), from €160,083 to €198,110
of which Distributable reserves: +€38,027
- Debts after one year -€12,922
down €12,922 (-13.6%), from €94,923 to €82,001
- Gross operating margin +€22,100
up €22,100 (+34.6%), from €63,917 to €86,017
- Taxes -€16,647
down €16,647 (-71.4%), from €23,314 to €6,667
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 | €426,344 | €481,704 | +€55,360 | +13.0% |
| Fixed assets | 21/28 | €254,763 | €239,796 | -€14,967 | -5.9% |
| Tangible fixed assets | 22/27 | €254,763 | €239,796 | -€14,967 | -5.9% |
| Land and buildings | 22 | €253,408 | €239,039 | -€14,368 | -5.7% |
| Plant, machinery and equipment | 23 | €1,355 | €757 | -€599 | -44.2% |
| Current assets | 29/58 | €171,581 | €241,908 | +€70,327 | +41.0% |
| Amounts receivable within one year | 40/41 | €23,319 | €23,943 | +€624 | +2.7% |
| Trade receivables | 40 | €13,613 | €14,054 | +€441 | +3.2% |
| Other amounts receivable | 41 | €9,706 | €9,889 | +€183 | +1.9% |
| Current investments | 50/53 | €105,594 | €131,042 | +€25,448 | +24.1% |
| Cash at bank and in hand | 54/58 | €42,668 | €86,922 | +€44,254 | +104% |
| Total equity and liabilities | 10/49 | €426,344 | €481,704 | +€55,360 | +13.0% |
| Equity | 10/15 | €254,926 | €292,953 | +€38,027 | +14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,083 | €198,110 | +€38,027 | +23.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €158,223 | €196,250 | +€38,027 | +24.0% |
| Profit (loss) carried forward | 14 | €76,243 | €76,243 | = | 0.0% |
| Amounts payable | 17/49 | €171,418 | €188,751 | +€17,333 | +10.1% |
| Amounts payable after more than one year | 17 | €94,923 | €82,001 | -€12,922 | -13.6% |
| Financial debts | 170/4 | €94,923 | €82,001 | -€12,922 | -13.6% |
| Amounts payable within one year | 42/48 | €76,495 | €106,750 | +€30,255 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €12,497 | €12,922 | +€426 | +3.4% |
| Trade debts | 44 | €1,266 | €694 | -€572 | -45.2% |
| Suppliers | 440/4 | €1,266 | €694 | -€572 | -45.2% |
| Taxes, remuneration and social security | 45 | €62,732 | €17,046 | -€45,686 | -72.8% |
| Taxes | 450/3 | €6,157 | €13,749 | +€7,592 | +123% |
| Remuneration and social security | 454/9 | €56,576 | €3,297 | -€53,278 | -94.2% |
| Other amounts payable | 47/48 | - | €76,088 | +€76,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,967 | €14,967 | = | 0.0% |
| Other operating charges | 640/8 | €1,158 | €1,315 | +€157 | +13.6% |
| Gross operating margin | 9900 | €63,917 | €86,017 | +€22,100 | +34.6% |
| Operating profit (loss) | 9901 | €47,793 | €69,735 | +€21,942 | +45.9% |
| Financial income | 75/76B | €610 | €629 | +€19 | +3.1% |
| Recurring financial income | 75 | €610 | €629 | +€19 | +3.1% |
| Financial charges | 65/66B | €9,145 | €8,604 | -€541 | -5.9% |
| Recurring financial charges | 65 | €9,145 | €8,604 | -€541 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €39,258 | €61,760 | +€22,502 | +57.3% |
| Income taxes | 67/77 | €23,314 | €6,667 | -€16,647 | -71.4% |
| Profit (loss) for the period | 9904 | €15,944 | €55,093 | +€39,149 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €15,944 | €55,093 | +€39,149 | +246% |
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.