VDLT: 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.
VDLT
Largest movements
- Current investments +€79,000
new in 2025: €79,000
- Cash -€25,791
down €25,791 (-83.1%), from €31,028 to €5,237
mainly Current investments (-€79,000) and Receivables within one year (-€4,619)
- Receivables within one year +€4,619
up €4,619 (+25.4%), from €18,188 to €22,807
of which Trade receivables: +€3,806
- Reserves +€56,323
up €56,323 (+161.1%), from €34,972 to €91,294
- Tax, wage and social debts +€3,346
up €3,346 (+38.6%), from €8,665 to €12,011
of which Taxes: +€3,346
- Other debts -€1,301
down €1,301 (-82.8%), from €1,572 to €271
- Gross operating margin +€25,365
up €25,365 (+55.1%), from €46,057 to €71,422
- Taxes +€5,026
up €5,026 (+53.8%), from €9,350 to €14,376
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 | €49,216 | €107,162 | +€57,946 | +117.7% |
| Current assets | 29/58 | €49,216 | €107,162 | +€57,946 | +117.7% |
| Amounts receivable within one year | 40/41 | €18,188 | €22,807 | +€4,619 | +25.4% |
| Trade receivables | 40 | €18,188 | €21,994 | +€3,806 | +20.9% |
| Other amounts receivable | 41 | - | €813 | +€813 | |
| Current investments | 50/53 | - | €79,000 | +€79,000 | |
| Cash at bank and in hand | 54/58 | €31,028 | €5,237 | -€25,791 | -83.1% |
| Deferred charges and accrued income | 490/1 | - | €118 | +€118 | |
| Total equity and liabilities | 10/49 | €49,216 | €107,162 | +€57,946 | +117.7% |
| Equity | 10/15 | €37,472 | €93,794 | +€56,323 | +150.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €34,972 | €91,294 | +€56,323 | +161.1% |
| Distributable reserves | 133 | €34,972 | €91,294 | +€56,323 | +161.1% |
| Amounts payable | 17/49 | €11,745 | €13,368 | +€1,623 | +13.8% |
| Amounts payable within one year | 42/48 | €11,745 | €13,368 | +€1,623 | +13.8% |
| Trade debts | 44 | €1,508 | €1,086 | -€422 | -28.0% |
| Suppliers | 440/4 | €1,508 | €1,086 | -€422 | -28.0% |
| Taxes, remuneration and social security | 45 | €8,665 | €12,011 | +€3,346 | +38.6% |
| Taxes | 450/3 | €6,665 | €10,011 | +€3,346 | +50.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €1,572 | €271 | -€1,301 | -82.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €605 | - | -€605 | |
| Other operating charges | 640/8 | €298 | €306 | +€8 | +2.5% |
| Gross operating margin | 9900 | €46,057 | €71,422 | +€25,365 | +55.1% |
| Operating profit (loss) | 9901 | €45,154 | €71,116 | +€25,963 | +57.5% |
| Financial income | 75/76B | - | €555 | +€555 | |
| Recurring financial income | 75 | - | €555 | +€555 | |
| Financial charges | 65/66B | €832 | €973 | +€141 | +17.0% |
| Recurring financial charges | 65 | €832 | €973 | +€141 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €44,322 | €70,699 | +€26,377 | +59.5% |
| Income taxes | 67/77 | €9,350 | €14,376 | +€5,026 | +53.8% |
| Profit (loss) for the period | 9904 | €34,972 | €56,323 | +€21,351 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,972 | €56,323 | +€21,351 | +61.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.