VDL TAX: what changed
What changed
VDL TAX
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€47,336
2024 · €41,406+€5,929
Equity
€227,366
2024 · €280,030-€52,664
Cash
€89,843
2024 · €61,231+€28,612
Balance sheet total
€414,676
2024 · €423,955-€9,279
Largest movements
Assets
- Current investments -€36,223
down €36,223 (-22.6%), from €160,346 to €124,124
- Cash +€28,612
up €28,612 (+46.7%), from €61,231 to €89,843
mainly Other debts (+€47,646) and Net result for the year (+€47,336)
- Tangible fixed assets -€6,970
down €6,970 (-6.9%), from €101,279 to €94,308
of which Land and buildings: -€7,775
Equity and liabilities
- Reserves -€50,000
down €50,000 (-19.4%), from €258,278 to €208,278
- Other debts +€47,646
up €47,646 (+90.9%), from €52,388 to €100,034
- Tax, wage and social debts -€9,187
down €9,187 (-51.2%), from €17,956 to €8,769
of which Taxes: -€9,187
- Trade debts +€7,034
up €7,034 (+57.7%), from €12,191 to €19,225
- Debts after one year -€4,397
down €4,397 (-7.7%), from €56,883 to €52,487
Income statement
- Gross operating margin +€10,262
up €10,262 (+15.9%), from €64,426 to €74,688
- Taxes +€1,793
up €1,793 (+15.1%), from €11,836 to €13,629
- Write-downs +€1,192
new in 2025: €1,192
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€41,406
Gross operating margin
+€10,262
Staff costs
+€375
Depreciation
-€576
Write-downs
-€1,192
Other operating charges
+€27
Financial income
-€596
Financial charges
-€578
Taxes
-€1,793
Result 2025
€47,336
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€96,629
Investment
+€34,154
Financing
-€102,170
Cash 2024
€61,231
From operations (derived)
+€96,629
Net result for the year
+€47,336
Depreciation
+€9,039
Receivables within one year
-€3,645
Deferred charges and accrued income
-€1,657
Trade debts
+€7,034
Tax, wage and social debts
-€9,187
Advances received
+€63
Other debts
+€47,646
Investment (derived)
+€34,154
Investment in fixed assets (net)
-€2,069
Current investments
+€36,223
Financing
-€102,170
Debts after one year
-€4,397
Current portion of long-term debt
+€59
Short-term financial debts
+€2,167
Contributions, distributions and other
-€100,000
Cash 2025
€89,843
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,955 | €414,676 | -€9,279 | -2.2% |
| Fixed assets | 21/28 | €101,279 | €94,308 | -€6,970 | -6.9% |
| Tangible fixed assets | 22/27 | €101,279 | €94,308 | -€6,970 | -6.9% |
| Land and buildings | 22 | €98,740 | €90,966 | -€7,775 | -7.9% |
| Furniture and vehicles | 24 | €2,539 | €3,343 | +€804 | +31.7% |
| Current assets | 29/58 | €322,677 | €320,368 | -€2,309 | -0.7% |
| Amounts receivable within one year | 40/41 | €93,809 | €97,454 | +€3,645 | +3.9% |
| Trade receivables | 40 | €92,943 | €96,588 | +€3,645 | +3.9% |
| Other amounts receivable | 41 | €865 | €865 | = | 0.0% |
| Current investments | 50/53 | €160,346 | €124,124 | -€36,223 | -22.6% |
| Cash at bank and in hand | 54/58 | €61,231 | €89,843 | +€28,612 | +46.7% |
| Deferred charges and accrued income | 490/1 | €7,291 | €8,947 | +€1,657 | +22.7% |
| Total equity and liabilities | 10/49 | €423,955 | €414,676 | -€9,279 | -2.2% |
| Equity | 10/15 | €280,030 | €227,366 | -€52,664 | -18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €258,278 | €208,278 | -€50,000 | -19.4% |
| Distributable reserves | 133 | €258,278 | €208,278 | -€50,000 | -19.4% |
| Profit (loss) carried forward | 14 | €3,152 | €488 | -€2,664 | -84.5% |
| Amounts payable | 17/49 | €143,925 | €187,310 | +€43,385 | +30.1% |
| Amounts payable after more than one year | 17 | €56,883 | €52,487 | -€4,397 | -7.7% |
| Financial debts | 170/4 | €56,883 | €52,487 | -€4,397 | -7.7% |
| Amounts payable within one year | 42/48 | €87,042 | €134,824 | +€47,782 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €4,338 | €4,397 | +€59 | +1.4% |
| Financial debts | 43 | €169 | €2,336 | +€2,167 | +1,286% |
| Other loans | 439 | €169 | €2,336 | +€2,167 | +1,286% |
| Trade debts | 44 | €12,191 | €19,225 | +€7,034 | +57.7% |
| Suppliers | 440/4 | €12,191 | €19,225 | +€7,034 | +57.7% |
| Advances received on contracts in progress | 46 | - | €63 | +€63 | |
| Taxes, remuneration and social security | 45 | €17,956 | €8,769 | -€9,187 | -51.2% |
| Taxes | 450/3 | €15,956 | €6,769 | -€9,187 | -57.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €52,388 | €100,034 | +€47,646 | +90.9% |
| Remuneration, social security and pensions | 62 | €375 | - | -€375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,463 | €9,039 | +€576 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,192 | +€1,192 | |
| Other operating charges | 640/8 | €3,039 | €3,012 | -€27 | -0.9% |
| Gross operating margin | 9900 | €64,426 | €74,688 | +€10,262 | +15.9% |
| Operating profit (loss) | 9901 | €52,548 | €61,444 | +€8,896 | +16.9% |
| Financial income | 75/76B | €3,777 | €3,181 | -€596 | -15.8% |
| Recurring financial income | 75 | €3,777 | €3,181 | -€596 | -15.8% |
| Financial charges | 65/66B | €3,083 | €3,661 | +€578 | +18.7% |
| Recurring financial charges | 65 | €3,083 | €3,661 | +€578 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €53,243 | €60,965 | +€7,722 | +14.5% |
| Income taxes | 67/77 | €11,836 | €13,629 | +€1,793 | +15.1% |
| Profit (loss) for the period | 9904 | €41,406 | €47,336 | +€5,929 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,406 | €47,336 | +€5,929 | +14.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.