VDL TOITURES: what changed
What changed
VDL TOITURES
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€53,788
2024 · €176,546-€122,758
Equity
€661,891
2024 · €608,103+€53,788
Cash
€49,441
2024 · €37,733+€11,708
Balance sheet total
€1.2m
2024 · €1.2m+€1,110
Largest movements
Assets
- Receivables within one year -€18,687
down €18,687 (-43.8%), from €42,619 to €23,931
- Cash +€11,708
up €11,708 (+31.0%), from €37,733 to €49,441
mainly Net result for the year (+€53,788) and Depreciation (+€29,118)
Equity and liabilities
- Profit (loss) carried forward +€53,788
up €53,788 (+13.1%), from €411,103 to €464,891
- Debts after one year -€29,539
down €29,539 (-8.6%), from €342,348 to €312,808
- Tax, wage and social debts +€27,608
up €27,608 (+99.1%), from €27,860 to €55,467
of which Taxes: +€21,985
- Advances received -€27,368
no longer reported in 2025 (was €27,368)
- Current portion of long-term debt -€23,459
down €23,459 (-44.3%), from €52,998 to €29,539
Income statement
- Financial income -€119,951
down €119,951 (-100.0%), from €120,001 to €49
- Gross operating margin +€8,541
up €8,541 (+5.6%), from €151,813 to €160,354
- Staff costs +€8,519
up €8,519 (+24.4%), from €34,979 to €43,498
- Depreciation +€2,337
up €2,337 (+8.7%), from €26,781 to €29,118
- Other operating charges +€2,078
up €2,078 (+84.8%), from €2,450 to €4,528
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
€176,546
Gross operating margin
+€8,541
Staff costs
-€8,519
Depreciation
-€2,337
Other operating charges
-€2,078
Financial income
-€119,951
Financial charges
+€993
Taxes
+€593
Result 2025
€53,788
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
+€93,965
Investment
-€29,259
Financing
-€52,998
Cash 2024
€37,733
From operations (derived)
+€93,965
Net result for the year
+€53,788
Depreciation
+€29,118
Stocks and contracts
-€1,369
Receivables within one year
+€18,687
Deferred charges and accrued income
-€6,579
Trade debts
+€6,416
Tax, wage and social debts
+€27,608
Advances received
-€27,368
Other debts
-€6,336
Investment (derived)
-€29,259
Investment in fixed assets (net)
-€29,259
Financing
-€52,998
Debts after one year
-€29,539
Current portion of long-term debt
-€23,459
Cash 2025
€49,441
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,152,765 | €1,153,875 | +€1,110 | +0.1% |
| Fixed assets | 21/28 | €1,062,815 | €1,062,956 | +€141 | 0.0% |
| Tangible fixed assets | 22/27 | €480,965 | €481,106 | +€141 | 0.0% |
| Land and buildings | 22 | €462,834 | €438,888 | -€23,946 | -5.2% |
| Furniture and vehicles | 24 | €2,679 | €9,586 | +€6,907 | +258% |
| Other tangible fixed assets | 26 | €15,452 | €32,631 | +€17,179 | +111% |
| Financial fixed assets | 28 | €581,850 | €581,850 | = | 0.0% |
| Current assets | 29/58 | €89,950 | €90,918 | +€969 | +1.1% |
| Stocks and contracts in progress | 3 | €9,598 | €10,967 | +€1,369 | +14.3% |
| Stocks | 30/36 | €9,598 | €10,967 | +€1,369 | +14.3% |
| Amounts receivable within one year | 40/41 | €42,619 | €23,931 | -€18,687 | -43.8% |
| Trade receivables | 40 | €42,619 | €23,931 | -€18,687 | -43.8% |
| Cash at bank and in hand | 54/58 | €37,733 | €49,441 | +€11,708 | +31.0% |
| Deferred charges and accrued income | 490/1 | - | €6,579 | +€6,579 | |
| Total equity and liabilities | 10/49 | €1,152,765 | €1,153,875 | +€1,110 | +0.1% |
| Equity | 10/15 | €608,103 | €661,891 | +€53,788 | +8.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €177,000 | €177,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €411,103 | €464,891 | +€53,788 | +13.1% |
| Amounts payable | 17/49 | €544,662 | €491,983 | -€52,678 | -9.7% |
| Amounts payable after more than one year | 17 | €342,348 | €312,808 | -€29,539 | -8.6% |
| Financial debts | 170/4 | €342,348 | €312,808 | -€29,539 | -8.6% |
| Amounts payable within one year | 42/48 | €202,314 | €179,175 | -€23,139 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €52,998 | €29,539 | -€23,459 | -44.3% |
| Trade debts | 44 | €2,377 | €8,793 | +€6,416 | +270% |
| Suppliers | 440/4 | €2,377 | €8,793 | +€6,416 | +270% |
| Advances received on contracts in progress | 46 | €27,368 | - | -€27,368 | |
| Taxes, remuneration and social security | 45 | €27,860 | €55,467 | +€27,608 | +99.1% |
| Taxes | 450/3 | €21,793 | €43,778 | +€21,985 | +101% |
| Remuneration and social security | 454/9 | €6,066 | €11,689 | +€5,623 | +92.7% |
| Other amounts payable | 47/48 | €91,710 | €85,375 | -€6,336 | -6.9% |
| Remuneration, social security and pensions | 62 | €34,979 | €43,498 | +€8,519 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,781 | €29,118 | +€2,337 | +8.7% |
| Other operating charges | 640/8 | €2,450 | €4,528 | +€2,078 | +84.8% |
| Gross operating margin | 9900 | €151,813 | €160,354 | +€8,541 | +5.6% |
| Operating profit (loss) | 9901 | €87,602 | €83,210 | -€4,393 | -5.0% |
| Financial income | 75/76B | €120,001 | €49 | -€119,951 | -100.0% |
| Recurring financial income | 75 | €120,001 | €49 | -€119,951 | -100.0% |
| Financial charges | 65/66B | €7,215 | €6,222 | -€993 | -13.8% |
| Recurring financial charges | 65 | €7,215 | €6,222 | -€993 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €200,388 | €77,037 | -€123,351 | -61.6% |
| Income taxes | 67/77 | €23,842 | €23,249 | -€593 | -2.5% |
| Profit (loss) for the period | 9904 | €176,546 | €53,788 | -€122,758 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €176,546 | €53,788 | -€122,758 | -69.5% |
Next steps
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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 8 November 2026 via checked.be.