VDM Engineering Support: 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 Support
Largest movements
- Cash +€19,593
up €19,593 (+153.5%), from €12,761 to €32,354
mainly Depreciation (+€11,485) and Receivables within one year (+€5,556)
- Tangible fixed assets -€7,325
down €7,325 (-46.3%), from €15,807 to €8,482
of which Furniture and vehicles: -€4,858
- Intangible fixed assets -€5,888
down €5,888 (-16.3%), from €36,052 to €30,164
- Receivables within one year -€5,556
down €5,556 (-5.1%), from €108,672 to €103,116
of which Trade receivables: -€15,823
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€16,643
down €16,643 (-45.1%), from €36,877 to €20,234
- Write-downs -€15,572
no longer reported in 2025 (was €15,572)
- Financial charges -€1,387
down €1,387 (-54.7%), from €2,539 to €1,151
- Other operating charges -€853
down €853 (-28.3%), from €3,018 to €2,165
- Taxes -€802
down €802 (-26.9%), from €2,980 to €2,178
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 | €345,069 | €345,832 | +€763 | +0.2% |
| Fixed assets | 21/28 | €53,483 | €38,645 | -€14,837 | -27.7% |
| Intangible fixed assets | 21 | €36,052 | €30,164 | -€5,888 | -16.3% |
| Tangible fixed assets | 22/27 | €15,807 | €8,482 | -€7,325 | -46.3% |
| Plant, machinery and equipment | 23 | €6,894 | €4,427 | -€2,467 | -35.8% |
| Furniture and vehicles | 24 | €8,913 | €4,055 | -€4,858 | -54.5% |
| Financial fixed assets | 28 | €1,624 | - | -€1,624 | |
| Current assets | 29/58 | €291,586 | €307,187 | +€15,601 | +5.4% |
| Amounts receivable after more than one year | 29 | €166,313 | €166,313 | = | 0.0% |
| Trade receivables | 290 | €166,313 | €166,313 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €1,667 | +€1,667 | |
| Stocks | 30/36 | - | €1,667 | +€1,667 | |
| Amounts receivable within one year | 40/41 | €108,672 | €103,116 | -€5,556 | -5.1% |
| Trade receivables | 40 | €88,781 | €72,958 | -€15,823 | -17.8% |
| Other amounts receivable | 41 | €19,892 | €30,158 | +€10,266 | +51.6% |
| Cash at bank and in hand | 54/58 | €12,761 | €32,354 | +€19,593 | +153.5% |
| Deferred charges and accrued income | 490/1 | €3,839 | €3,737 | -€103 | -2.7% |
| Total equity and liabilities | 10/49 | €345,069 | €345,832 | +€763 | +0.2% |
| Equity | 10/15 | €329,875 | €329,906 | +€31 | 0.0% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €309,424 | €309,455 | +€31 | 0.0% |
| Distributable reserves | 133 | €309,424 | €309,455 | +€31 | 0.0% |
| Amounts payable | 17/49 | €15,194 | €15,926 | +€733 | +4.8% |
| Amounts payable within one year | 42/48 | €13,194 | €13,926 | +€733 | +5.6% |
| Trade debts | 44 | €935 | €1,273 | +€338 | +36.2% |
| Suppliers | 440/4 | €935 | €1,273 | +€338 | +36.2% |
| Taxes, remuneration and social security | 45 | €11,259 | €11,653 | +€394 | +3.5% |
| Taxes | 450/3 | €11,259 | €11,653 | +€394 | +3.5% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,972 | €11,485 | -€487 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,572 | - | -€15,572 | |
| Other operating charges | 640/8 | €3,018 | €2,165 | -€853 | -28.3% |
| Non-recurring operating charges | 66A | - | €3,227 | +€3,227 | |
| Gross operating margin | 9900 | €36,877 | €20,234 | -€16,643 | -45.1% |
| Operating profit (loss) | 9901 | €6,316 | €3,356 | -€2,960 | -46.9% |
| Financial income | 75/76B | €1 | €3 | +€3 | +315.0% |
| Recurring financial income | 75 | €1 | €3 | +€3 | +315.0% |
| Financial charges | 65/66B | €2,539 | €1,151 | -€1,387 | -54.7% |
| Recurring financial charges | 65 | €2,539 | €1,151 | -€1,387 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €3,778 | €2,209 | -€1,570 | -41.5% |
| Income taxes | 67/77 | €2,980 | €2,178 | -€802 | -26.9% |
| Profit (loss) for the period | 9904 | €798 | €31 | -€767 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €798 | €31 | -€767 | -96.1% |
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 30 September 2026 via checked.be.