VDLV: 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.
VDLV
Largest movements
- Cash +€25,597
up €25,597 (+52.6%), from €48,621 to €74,217
mainly Net result for the year (+€17,864) and Receivables within one year (+€10,079)
- Receivables within one year -€10,079
down €10,079 (-51.7%), from €19,479 to €9,401
of which Trade receivables: -€10,298
- Profit (loss) carried forward +€17,864
up €17,864 (+39.6%), from €45,060 to €62,924
- Tax, wage and social debts -€2,497
down €2,497 (-33.1%), from €7,547 to €5,050
- Gross operating margin -€7,007
down €7,007 (-20.5%), from €34,209 to €27,203
- Other operating charges +€416
up €416 (+47.4%), from €878 to €1,294
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 | €68,860 | €84,184 | +€15,324 | +22.3% |
| Fixed assets | 21/28 | €570 | €363 | -€207 | -36.3% |
| Tangible fixed assets | 22/27 | €207 | - | -€207 | |
| Furniture and vehicles | 24 | €207 | - | -€207 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €68,289 | €83,821 | +€15,531 | +22.7% |
| Amounts receivable within one year | 40/41 | €19,479 | €9,401 | -€10,079 | -51.7% |
| Trade receivables | 40 | €19,479 | €9,181 | -€10,298 | -52.9% |
| Other amounts receivable | 41 | €0 | €220 | +€220 | +313871.4% |
| Cash at bank and in hand | 54/58 | €48,621 | €74,217 | +€25,597 | +52.6% |
| Deferred charges and accrued income | 490/1 | €189 | €203 | +€13 | +7.0% |
| Total equity and liabilities | 10/49 | €68,860 | €84,184 | +€15,324 | +22.3% |
| Equity | 10/15 | €60,060 | €77,924 | +€17,864 | +29.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,060 | €62,924 | +€17,864 | +39.6% |
| Amounts payable | 17/49 | €8,799 | €6,260 | -€2,540 | -28.9% |
| Amounts payable within one year | 42/48 | €8,734 | €6,193 | -€2,541 | -29.1% |
| Trade debts | 44 | €1,187 | €1,143 | -€44 | -3.7% |
| Suppliers | 440/4 | €1,187 | €1,143 | -€44 | -3.7% |
| Taxes, remuneration and social security | 45 | €7,547 | €5,050 | -€2,497 | -33.1% |
| Taxes | 450/3 | €7,547 | €5,050 | -€2,497 | -33.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €226 | €207 | -€19 | -8.3% |
| Other operating charges | 640/8 | €878 | €1,294 | +€416 | +47.4% |
| Gross operating margin | 9900 | €34,209 | €27,203 | -€7,007 | -20.5% |
| Operating profit (loss) | 9901 | €33,105 | €25,701 | -€7,404 | -22.4% |
| Financial charges | 65/66B | €1,490 | €1,153 | -€337 | -22.6% |
| Recurring financial charges | 65 | €1,490 | €1,153 | -€337 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €31,615 | €24,548 | -€7,067 | -22.4% |
| Income taxes | 67/77 | €6,888 | €6,684 | -€203 | -2.9% |
| Profit (loss) for the period | 9904 | €24,727 | €17,864 | -€6,864 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,727 | €17,864 | -€6,864 | -27.8% |
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 4 October 2026 via checked.be.