VDL-Tec: what changed
Two fiscal 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-Tec
Largest movements
- Receivables within one year -€26,388
down €26,388 (-35.4%), from €74,595 to €48,207
of which Other amounts receivable: -€30,225
- Tangible fixed assets -€14,427
down €14,427 (-23.6%), from €61,134 to €46,707
of which Furniture and vehicles: -€12,323
- Cash +€11,499
up €11,499 (+14.1%), from €81,838 to €93,337
mainly Receivables within one year (+€26,388) and Net result for the year (+€19,649)
- Other debts -€42,000
no longer reported in 2025 (was €42,000)
- Profit (loss) carried forward +€19,649
up €19,649 (+19.6%), from €100,280 to €119,929
- Tax, wage and social debts -€6,026
down €6,026 (-86.9%), from €6,930 to €904
- Gross operating margin +€3,280
up €3,280 (+7.6%), from €43,296 to €46,576
- Depreciation -€574
down €574 (-3.1%), from €18,516 to €17,942
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.
Cash bridge derived
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 | €219,456 | €190,222 | -€29,235 | -13.3% |
| Fixed assets | 21/28 | €61,134 | €46,707 | -€14,427 | -23.6% |
| Tangible fixed assets | 22/27 | €61,134 | €46,707 | -€14,427 | -23.6% |
| Land and buildings | 22 | €3,235 | €2,038 | -€1,197 | -37.0% |
| Plant, machinery and equipment | 23 | €522 | €52 | -€470 | -90.1% |
| Furniture and vehicles | 24 | €54,758 | €42,435 | -€12,323 | -22.5% |
| Other tangible fixed assets | 26 | €2,619 | €2,183 | -€437 | -16.7% |
| Current assets | 29/58 | €158,322 | €143,515 | -€14,808 | -9.4% |
| Amounts receivable within one year | 40/41 | €74,595 | €48,207 | -€26,388 | -35.4% |
| Trade receivables | 40 | €32,847 | €36,684 | +€3,837 | +11.7% |
| Other amounts receivable | 41 | €41,748 | €11,523 | -€30,225 | -72.4% |
| Cash at bank and in hand | 54/58 | €81,838 | €93,337 | +€11,499 | +14.1% |
| Deferred charges and accrued income | 490/1 | €1,889 | €1,971 | +€82 | +4.3% |
| Total equity and liabilities | 10/49 | €219,456 | €190,222 | -€29,235 | -13.3% |
| Equity | 10/15 | €158,840 | €178,489 | +€19,649 | +12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €52,360 | €52,360 | = | 0.0% |
| Distributable reserves | 133 | €52,360 | €52,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,280 | €119,929 | +€19,649 | +19.6% |
| Amounts payable | 17/49 | €60,617 | €11,733 | -€48,884 | -80.6% |
| Amounts payable within one year | 42/48 | €60,617 | €11,733 | -€48,884 | -80.6% |
| Current portion of amounts payable after more than one year | 42 | €5,500 | €5,500 | = | 0.0% |
| Trade debts | 44 | €6,187 | €5,328 | -€859 | -13.9% |
| Suppliers | 440/4 | €6,187 | €5,328 | -€859 | -13.9% |
| Taxes, remuneration and social security | 45 | €6,930 | €904 | -€6,026 | -86.9% |
| Taxes | 450/3 | €6,930 | €904 | -€6,026 | -86.9% |
| Other amounts payable | 47/48 | €42,000 | - | -€42,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,516 | €17,942 | -€574 | -3.1% |
| Other operating charges | 640/8 | €1,624 | €1,585 | -€39 | -2.4% |
| Gross operating margin | 9900 | €43,296 | €46,576 | +€3,280 | +7.6% |
| Operating profit (loss) | 9901 | €23,156 | €27,049 | +€3,893 | +16.8% |
| Financial charges | 65/66B | €450 | €495 | +€45 | +9.9% |
| Recurring financial charges | 65 | €450 | €495 | +€45 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €22,705 | €26,554 | +€3,849 | +16.9% |
| Income taxes | 67/77 | €6,668 | €6,904 | +€237 | +3.6% |
| Profit (loss) for the period | 9904 | €16,038 | €19,649 | +€3,612 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,038 | €19,649 | +€3,612 | +22.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.