VdM Developments: 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.
VdM Developments
Largest movements
- Receivables within one year -€3,844
down €3,844 (-8.7%), from €43,960 to €40,116
of which Trade receivables: -€3,960
- Reserves -€2,295
down €2,295 (-3.7%), from €62,528 to €60,234
- Financial income +€476
up €476 (+87.9%), from €542 to €1,018
- Financial charges -€177
down €177 (-81.3%), from €218 to €41
- Other operating charges +€161
up €161 (+36.2%), from €445 to €605
- Gross operating margin -€146
down €146 (-5.9%), from -€2,477 to -€2,623
- Taxes +€55
up €55, from -€13 to €43
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 | €67,691 | €64,593 | -€3,097 | -4.6% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €67,691 | €64,593 | -€3,097 | -4.6% |
| Amounts receivable within one year | 40/41 | €43,960 | €40,116 | -€3,844 | -8.7% |
| Trade receivables | 40 | €3,960 | €0 | -€3,960 | -100.0% |
| Other amounts receivable | 41 | €40,000 | €40,116 | +€116 | +0.3% |
| Cash at bank and in hand | 54/58 | €23,395 | €23,800 | +€405 | +1.7% |
| Deferred charges and accrued income | 490/1 | €336 | €678 | +€342 | +101.7% |
| Total equity and liabilities | 10/49 | €67,691 | €64,593 | -€3,097 | -4.6% |
| Equity | 10/15 | €65,028 | €62,734 | -€2,295 | -3.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €62,528 | €60,234 | -€2,295 | -3.7% |
| Distributable reserves | 133 | €62,528 | €60,234 | -€2,295 | -3.7% |
| Amounts payable | 17/49 | €2,663 | €1,860 | -€803 | -30.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,663 | €1,860 | -€803 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €377 | €228 | -€150 | -39.7% |
| Suppliers | 440/4 | €377 | €228 | -€150 | -39.7% |
| Taxes, remuneration and social security | 45 | €653 | €0 | -€653 | -100.0% |
| Taxes | 450/3 | €653 | €0 | -€653 | -100.0% |
| Other amounts payable | 47/48 | €1,632 | €1,632 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €445 | €605 | +€161 | +36.2% |
| Non-recurring operating charges | 66A | €3,670 | €0 | -€3,670 | -100.0% |
| Gross operating margin | 9900 | -€2,477 | -€2,623 | -€146 | -5.9% |
| Operating profit (loss) | 9901 | -€6,591 | -€3,229 | +€3,363 | +51.0% |
| Financial income | 75/76B | €542 | €1,018 | +€476 | +87.9% |
| Recurring financial income | 75 | €542 | €1,018 | +€476 | +87.9% |
| Financial charges | 65/66B | €218 | €41 | -€177 | -81.3% |
| Recurring financial charges | 65 | €218 | €41 | -€177 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,268 | -€2,252 | +€4,016 | +64.1% |
| Income taxes | 67/77 | -€13 | €43 | +€55 | |
| Profit (loss) for the period | 9904 | -€6,255 | -€2,295 | +€3,961 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,255 | -€2,295 | +€3,961 | +63.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.