VDL PROJECT MANAGEMENT: 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.
VDL PROJECT MANAGEMENT
Largest movements
- Stocks and contracts -€36,365
down €36,365 (-66.1%), from €55,000 to €18,635
- Cash +€14,889
up €14,889 (+322%), from €4,620 to €19,508
mainly Net result for the year (+€133,873) and Stocks and contracts (+€36,365)
- Tangible fixed assets -€13,388
down €13,388 (-24.3%), from €55,057 to €41,669
of which Plant, machinery and equipment: -€11,078
- Receivables within one year +€7,991
up €7,991 (+18.7%), from €42,731 to €50,722
of which Other amounts receivable: +€13,532
- Deferred charges and accrued income +€2,819
up €2,819 (+488%), from €578 to €3,397
- Other debts -€142,950
down €142,950 (-50.2%), from €284,693 to €141,743
- Profit (loss) carried forward +€133,873
up €133,873 (+43.0%), from -€311,290 to -€177,417
- Trade debts -€38,141
down €38,141 (-91.9%), from €41,505 to €3,365
- Tax, wage and social debts +€20,912
up €20,912 (+2,251%), from €929 to €21,841
- Gross operating margin +€232,372
up €232,372, from -€79,552 to €152,820
- Depreciation +€2,043
up €2,043 (+13.5%), from €15,187 to €17,230
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,607 | €156,931 | -€26,677 | -14.5% |
| Fixed assets | 21/28 | €80,679 | €64,669 | -€16,010 | -19.8% |
| Intangible fixed assets | 21 | €25,622 | €23,000 | -€2,622 | -10.2% |
| Tangible fixed assets | 22/27 | €55,057 | €41,669 | -€13,388 | -24.3% |
| Plant, machinery and equipment | 23 | €44,301 | €33,223 | -€11,078 | -25.0% |
| Furniture and vehicles | 24 | €10,756 | €8,446 | -€2,310 | -21.5% |
| Current assets | 29/58 | €102,928 | €92,262 | -€10,667 | -10.4% |
| Stocks and contracts in progress | 3 | €55,000 | €18,635 | -€36,365 | -66.1% |
| Stocks | 30/36 | €55,000 | €18,635 | -€36,365 | -66.1% |
| Amounts receivable within one year | 40/41 | €42,731 | €50,722 | +€7,991 | +18.7% |
| Trade receivables | 40 | €38,627 | €33,086 | -€5,541 | -14.3% |
| Other amounts receivable | 41 | €4,104 | €17,635 | +€13,532 | +330% |
| Cash at bank and in hand | 54/58 | €4,620 | €19,508 | +€14,889 | +322% |
| Deferred charges and accrued income | 490/1 | €578 | €3,397 | +€2,819 | +488% |
| Total equity and liabilities | 10/49 | €183,607 | €156,931 | -€26,677 | -14.5% |
| Equity | 10/15 | -€298,890 | -€165,017 | +€133,873 | +44.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€311,290 | -€177,417 | +€133,873 | +43.0% |
| Amounts payable | 17/49 | €482,498 | €321,948 | -€160,549 | -33.3% |
| Amounts payable after more than one year | 17 | €155,000 | €155,000 | = | 0.0% |
| Financial debts | 170/4 | €155,000 | €155,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €327,127 | €166,948 | -€160,179 | -49.0% |
| Trade debts | 44 | €41,505 | €3,365 | -€38,141 | -91.9% |
| Suppliers | 440/4 | €41,505 | €3,365 | -€38,141 | -91.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €929 | €21,841 | +€20,912 | +2,251% |
| Taxes | 450/3 | €929 | €21,841 | +€20,912 | +2,251% |
| Other amounts payable | 47/48 | €284,693 | €141,743 | -€142,950 | -50.2% |
| Accrued charges and deferred income | 492/3 | €371 | - | -€371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,187 | €17,230 | +€2,043 | +13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €0 | €778 | +€778 | |
| Gross operating margin | 9900 | -€79,552 | €152,820 | +€232,372 | |
| Operating profit (loss) | 9901 | -€94,739 | €134,813 | +€229,552 | |
| Financial income | 75/76B | €0 | €22 | +€22 | +10,980% |
| Recurring financial income | 75 | €0 | €22 | +€22 | +10,980% |
| Financial charges | 65/66B | €152 | €962 | +€811 | +535% |
| Recurring financial charges | 65 | €152 | €962 | +€811 | +535% |
| Profit (loss) for the period before taxes | 9903 | -€94,890 | €133,873 | +€228,763 | |
| Profit (loss) for the period | 9904 | -€94,890 | €133,873 | +€228,763 | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,890 | €133,873 | +€228,763 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.