VDM & CO: 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.
VDM & CO
Largest movements
- Cash +€31,478
up €31,478 (+107%), from €29,383 to €60,860
mainly Depreciation (+€15,542) and Receivables within one year (+€8,349)
- Tangible fixed assets -€15,542
down €15,542 (-25.0%), from €62,169 to €46,627
- Receivables within one year -€8,349
no longer reported in 2025 (was €8,349)
- Profit (loss) carried forward +€4,526
up €4,526, from -€1,414 to €3,112
- Other debts +€2,927
up €2,927 (+3.9%), from €74,680 to €77,607
- Trade debts -€2,051
down €2,051 (-97.5%), from €2,102 to €52
- Accrued charges and deferred income +€1,238
new in 2025: €1,238
- Gross operating margin -€17,573
down €17,573 (-44.2%), from €39,781 to €22,208
- Financial charges -€4,661
down €4,661 (-99.0%), from €4,706 to €45
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.
Derived cash bridge
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 | €101,315 | €108,044 | +€6,729 | +6.6% |
| Fixed assets | 21/28 | €62,726 | €47,184 | -€15,542 | -24.8% |
| Tangible fixed assets | 22/27 | €62,169 | €46,627 | -€15,542 | -25.0% |
| Land and buildings | 22 | €62,169 | €46,627 | -€15,542 | -25.0% |
| Financial fixed assets | 28 | €557 | €557 | = | 0.0% |
| Current assets | 29/58 | €38,589 | €60,860 | +€22,271 | +57.7% |
| Amounts receivable within one year | 40/41 | €8,349 | - | -€8,349 | |
| Trade receivables | 40 | €8,349 | - | -€8,349 | |
| Cash at bank and in hand | 54/58 | €29,383 | €60,860 | +€31,478 | +107% |
| Deferred charges and accrued income | 490/1 | €857 | - | -€857 | |
| Total equity and liabilities | 10/49 | €101,315 | €108,044 | +€6,729 | +6.6% |
| Equity | 10/15 | €23,786 | €28,312 | +€4,526 | +19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,600 | €6,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,414 | €3,112 | +€4,526 | |
| Amounts payable | 17/49 | €77,529 | €79,732 | +€2,203 | +2.8% |
| Amounts payable within one year | 42/48 | €77,529 | €78,494 | +€966 | +1.2% |
| Trade debts | 44 | €2,102 | €52 | -€2,051 | -97.5% |
| Suppliers | 440/4 | €2,102 | €52 | -€2,051 | -97.5% |
| Taxes, remuneration and social security | 45 | €747 | €836 | +€89 | +11.9% |
| Taxes | 450/3 | €747 | €836 | +€89 | +11.9% |
| Other amounts payable | 47/48 | €74,680 | €77,607 | +€2,927 | +3.9% |
| Accrued charges and deferred income | 492/3 | - | €1,238 | +€1,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,542 | €15,542 | = | 0.0% |
| Other operating charges | 640/8 | €2,024 | €2,095 | +€71 | +3.5% |
| Gross operating margin | 9900 | €39,781 | €22,208 | -€17,573 | -44.2% |
| Operating profit (loss) | 9901 | €22,215 | €4,571 | -€17,644 | -79.4% |
| Financial charges | 65/66B | €4,706 | €45 | -€4,661 | -99.0% |
| Recurring financial charges | 65 | €4,706 | €45 | -€4,661 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €17,509 | €4,526 | -€12,983 | -74.2% |
| Profit (loss) for the period | 9904 | €17,509 | €4,526 | -€12,983 | -74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,509 | €4,526 | -€12,983 | -74.2% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.