VDM ENGINEERING: 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 ENGINEERING
Largest movements
- Receivables within one year +€127,303
up €127,303 (+66.0%), from €192,902 to €320,205
of which Trade receivables: +€82,112
- Short-term financial debts +€201,125
up €201,125 (+80.4%), from €250,300 to €451,425
- Debts after one year -€197,759
down €197,759 (-35.2%), from €561,297 to €363,539
- Profit (loss) carried forward +€75,742
up €75,742, from -€51,921 to €23,821
- Tax, wage and social debts +€58,409
up €58,409 (+317.3%), from €18,409 to €76,817
- Current portion of long-term debt -€22,478
down €22,478 (-9.8%), from €229,043 to €206,565
- Taxes +€17,639
up €17,639 (+78.9%), from €22,361 to €40,000
- Financial charges -€12,867
down €12,867 (-23.2%), from €55,529 to €42,662
- Gross operating margin +€9,191
up €9,191 (+3.2%), from €289,630 to €298,821
- Other operating charges -€9,039
down €9,039 (-18.3%), from €49,367 to €40,329
- Financial income +€4,711
up €4,711 (+132.1%), from €3,565 to €8,276
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,633,723 | €1,747,682 | +€113,959 | +7.0% |
| Fixed assets | 21/28 | €1,435,440 | €1,426,308 | -€9,132 | -0.6% |
| Tangible fixed assets | 22/27 | €1,435,440 | €1,426,308 | -€9,132 | -0.6% |
| Land and buildings | 22 | €1,432,539 | €1,344,942 | -€87,598 | -6.1% |
| Furniture and vehicles | 24 | - | €81,366 | +€81,366 | |
| Leasing and similar rights | 25 | €2,900 | - | -€2,900 | |
| Current assets | 29/58 | €198,283 | €321,374 | +€123,091 | +62.1% |
| Amounts receivable within one year | 40/41 | €192,902 | €320,205 | +€127,303 | +66.0% |
| Trade receivables | 40 | €50,253 | €132,365 | +€82,112 | +163.4% |
| Other amounts receivable | 41 | €142,649 | €187,840 | +€45,192 | +31.7% |
| Cash at bank and in hand | 54/58 | €2,629 | - | -€2,629 | |
| Deferred charges and accrued income | 490/1 | €2,752 | €1,169 | -€1,583 | -57.5% |
| Total equity and liabilities | 10/49 | €1,633,723 | €1,747,682 | +€113,959 | +7.0% |
| Equity | 10/15 | €568,662 | €644,404 | +€75,742 | +13.3% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €220,583 | €220,583 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €137 | €137 | = | 0.0% |
| Distributable reserves | 133 | €210,446 | €210,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,921 | €23,821 | +€75,742 | |
| Amounts payable | 17/49 | €1,065,061 | €1,103,278 | +€38,217 | +3.6% |
| Amounts payable after more than one year | 17 | €561,297 | €363,539 | -€197,759 | -35.2% |
| Financial debts | 170/4 | €561,297 | €363,539 | -€197,759 | -35.2% |
| Amounts payable within one year | 42/48 | €502,761 | €739,739 | +€236,978 | +47.1% |
| Current portion of amounts payable after more than one year | 42 | €229,043 | €206,565 | -€22,478 | -9.8% |
| Financial debts | 43 | €250,300 | €451,425 | +€201,125 | +80.4% |
| Credit institutions | 430/8 | €250,300 | €451,425 | +€201,125 | +80.4% |
| Trade debts | 44 | €3,291 | €4,099 | +€808 | +24.5% |
| Suppliers | 440/4 | €3,291 | €4,099 | +€808 | +24.5% |
| Taxes, remuneration and social security | 45 | €18,409 | €76,817 | +€58,409 | +317.3% |
| Taxes | 450/3 | €18,409 | €76,817 | +€58,409 | +317.3% |
| Other amounts payable | 47/48 | €1,718 | €833 | -€885 | -51.5% |
| Accrued charges and deferred income | 492/3 | €1,003 | - | -€1,003 | |
| Remuneration, social security and pensions | 62 | - | €1,534 | +€1,534 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,464 | €105,996 | +€3,532 | +3.4% |
| Other operating charges | 640/8 | €49,367 | €40,329 | -€9,039 | -18.3% |
| Gross operating margin | 9900 | €289,630 | €298,821 | +€9,191 | +3.2% |
| Operating profit (loss) | 9901 | €137,798 | €150,962 | +€13,163 | +9.6% |
| Financial income | 75/76B | €3,565 | €8,276 | +€4,711 | +132.1% |
| Recurring financial income | 75 | €3,565 | €8,276 | +€4,711 | +132.1% |
| Financial charges | 65/66B | €55,529 | €42,662 | -€12,867 | -23.2% |
| Recurring financial charges | 65 | €55,529 | €42,662 | -€12,867 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €85,834 | €116,575 | +€30,741 | +35.8% |
| Income taxes | 67/77 | €22,361 | €40,000 | +€17,639 | +78.9% |
| Profit (loss) for the period | 9904 | €63,474 | €76,575 | +€13,102 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,474 | €76,575 | +€13,102 | +20.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.