VDM Capital Advisory: what changed
VDM Capital Advisory
Largest movements
- Receivables within one year +€69,490
up €69,490 (+203%), from €34,177 to €103,667
of which Other amounts receivable: +€63,818
- Cash +€12,719
up €12,719 (+58.7%), from €21,667 to €34,386
mainly Net result for the year (+€74,084) and Current portion of long-term debt (+€5,046)
- Tangible fixed assets +€2,362
up €2,362 (+57.5%), from €4,104 to €6,466
of which Furniture and vehicles: +€2,612
- Profit (loss) carried forward +€74,084
up €74,084 (+177%), from €41,739 to €115,823
- Current portion of long-term debt +€5,046
new in 2025: €5,046
- Trade debts +€4,941
up €4,941 (+420%), from €1,178 to €6,119
- Tax, wage and social debts -€3,932
down €3,932 (-21.9%), from €17,992 to €14,059
- Accrued charges and deferred income +€2,742
new in 2025: €2,742
- Gross operating margin +€40,674
up €40,674 (+76.8%), from €52,960 to €93,633
- Taxes +€8,786
up €8,786 (+82.1%), from €10,707 to €19,493
- Financial income +€3,525
up €3,525 (+6,931%), from €51 to €3,575
- Other operating charges +€1,535
up €1,535 (+2,602%), from €59 to €1,594
- Financial charges +€1,040
up €1,040 (+290%), from €359 to €1,399
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,909 | €147,400 | +€84,491 | +134% |
| Fixed assets | 21/28 | €4,104 | €6,466 | +€2,362 | +57.5% |
| Tangible fixed assets | 22/27 | €4,104 | €6,466 | +€2,362 | +57.5% |
| Plant, machinery and equipment | 23 | €604 | €354 | -€250 | -41.4% |
| Furniture and vehicles | 24 | - | €2,612 | +€2,612 | |
| Other tangible fixed assets | 26 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €58,805 | €140,934 | +€82,130 | +140% |
| Amounts receivable within one year | 40/41 | €34,177 | €103,667 | +€69,490 | +203% |
| Trade receivables | 40 | €1,419 | €7,091 | +€5,672 | +400% |
| Other amounts receivable | 41 | €32,758 | €96,575 | +€63,818 | +195% |
| Cash at bank and in hand | 54/58 | €21,667 | €34,386 | +€12,719 | +58.7% |
| Deferred charges and accrued income | 490/1 | €2,961 | €2,882 | -€79 | -2.7% |
| Total equity and liabilities | 10/49 | €62,909 | €147,400 | +€84,491 | +134% |
| Equity | 10/15 | €43,739 | €117,823 | +€74,084 | +169% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,739 | €115,823 | +€74,084 | +177% |
| Amounts payable | 17/49 | €19,169 | €29,577 | +€10,407 | +54.3% |
| Amounts payable within one year | 42/48 | €19,169 | €26,835 | +€7,666 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,046 | +€5,046 | |
| Trade debts | 44 | €1,178 | €6,119 | +€4,941 | +420% |
| Suppliers | 440/4 | €1,178 | €6,119 | +€4,941 | +420% |
| Advances received on contracts in progress | 46 | - | €115 | +€115 | |
| Taxes, remuneration and social security | 45 | €17,992 | €14,059 | -€3,932 | -21.9% |
| Taxes | 450/3 | €17,992 | €14,059 | -€3,932 | -21.9% |
| Other amounts payable | 47/48 | - | €1,497 | +€1,497 | |
| Accrued charges and deferred income | 492/3 | - | €2,742 | +€2,742 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146 | €638 | +€493 | +338% |
| Other operating charges | 640/8 | €59 | €1,594 | +€1,535 | +2,602% |
| Gross operating margin | 9900 | €52,960 | €93,633 | +€40,674 | +76.8% |
| Operating profit (loss) | 9901 | €52,755 | €91,401 | +€38,646 | +73.3% |
| Financial income | 75/76B | €51 | €3,575 | +€3,525 | +6,931% |
| Recurring financial income | 75 | €51 | €3,575 | +€3,525 | +6,931% |
| Financial charges | 65/66B | €359 | €1,399 | +€1,040 | +290% |
| Recurring financial charges | 65 | €359 | €1,399 | +€1,040 | +290% |
| Profit (loss) for the period before taxes | 9903 | €52,447 | €93,577 | +€41,131 | +78.4% |
| Income taxes | 67/77 | €10,707 | €19,493 | +€8,786 | +82.1% |
| Profit (loss) for the period | 9904 | €41,739 | €74,084 | +€32,344 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,739 | €74,084 | +€32,344 | +77.5% |
Next steps
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 7 November 2026 via checked.be.