VDLC: 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.
VDLC
Largest movements
- Tangible fixed assets -€9,094
down €9,094 (-28.5%), from €31,859 to €22,765
- Receivables within one year -€3,276
down €3,276 (-60.2%), from €5,442 to €2,166
of which Trade receivables: -€2,390
- Profit (loss) carried forward -€10,863
down €10,863 (-92.1%), from -€11,799 to -€22,663
- Debts after one year -€4,436
down €4,436 (-41.2%), from €10,773 to €6,337
- Trade debts +€2,096
up €2,096 (+81.1%), from €2,584 to €4,681
- Other debts +€1,041
up €1,041 (+3.5%), from €29,703 to €30,743
- Gross operating margin -€2,857
down €2,857, from €2,289 to -€569
- Depreciation +€2,220
up €2,220 (+32.3%), from €6,874 to €9,094
- Financial charges -€638
down €638 (-44.6%), from €1,431 to €793
- Other operating charges -€118
down €118 (-70.2%), from €168 to €50
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 | €38,245 | €26,356 | -€11,888 | -31.1% |
| Fixed assets | 21/28 | €31,859 | €22,765 | -€9,094 | -28.5% |
| Tangible fixed assets | 22/27 | €31,859 | €22,765 | -€9,094 | -28.5% |
| Plant, machinery and equipment | 23 | €1,251 | €654 | -€597 | -47.7% |
| Furniture and vehicles | 24 | €16,131 | €11,914 | -€4,217 | -26.1% |
| Leasing and similar rights | 25 | €14,477 | €10,197 | -€4,280 | -29.6% |
| Current assets | 29/58 | €6,386 | €3,592 | -€2,794 | -43.8% |
| Amounts receivable within one year | 40/41 | €5,442 | €2,166 | -€3,276 | -60.2% |
| Trade receivables | 40 | €4,191 | €1,800 | -€2,390 | -57.0% |
| Other amounts receivable | 41 | €1,251 | €366 | -€885 | -70.8% |
| Cash at bank and in hand | 54/58 | €740 | €864 | +€124 | +16.8% |
| Deferred charges and accrued income | 490/1 | €204 | €561 | +€357 | +174.9% |
| Total equity and liabilities | 10/49 | €38,245 | €26,356 | -€11,888 | -31.1% |
| Equity | 10/15 | -€9,799 | -€20,663 | -€10,863 | -110.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,799 | -€22,663 | -€10,863 | -92.1% |
| Amounts payable | 17/49 | €48,044 | €47,019 | -€1,025 | -2.1% |
| Amounts payable after more than one year | 17 | €10,773 | €6,337 | -€4,436 | -41.2% |
| Financial debts | 170/4 | €10,773 | €6,337 | -€4,436 | -41.2% |
| Amounts payable within one year | 42/48 | €37,271 | €40,682 | +€3,411 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €4,182 | €4,436 | +€254 | +6.1% |
| Trade debts | 44 | €2,584 | €4,681 | +€2,096 | +81.1% |
| Suppliers | 440/4 | €2,584 | €4,681 | +€2,096 | +81.1% |
| Taxes, remuneration and social security | 45 | €802 | €822 | +€20 | +2.5% |
| Taxes | 450/3 | €802 | €822 | +€20 | +2.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €29,703 | €30,743 | +€1,041 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,874 | €9,094 | +€2,220 | +32.3% |
| Other operating charges | 640/8 | €168 | €50 | -€118 | -70.2% |
| Gross operating margin | 9900 | €2,289 | -€569 | -€2,857 | |
| Operating profit (loss) | 9901 | -€4,753 | -€9,713 | -€4,959 | -104.3% |
| Financial income | 75/76B | €12 | €6 | -€6 | -50.7% |
| Recurring financial income | 75 | €12 | €6 | -€6 | -50.7% |
| Financial charges | 65/66B | €1,431 | €793 | -€638 | -44.6% |
| Recurring financial charges | 65 | €1,431 | €793 | -€638 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,173 | -€10,500 | -€4,327 | -70.1% |
| Income taxes | 67/77 | €373 | €363 | -€10 | -2.6% |
| Profit (loss) for the period | 9904 | -€6,546 | -€10,863 | -€4,318 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,546 | -€10,863 | -€4,318 | -66.0% |
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 29 September 2026 via checked.be.