VDM SERVICE: 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 SERVICE
Largest movements
- Tangible fixed assets +€90,922
up €90,922 (+3,017%), from €3,014 to €93,935
of which Furniture and vehicles: +€86,701
- Current investments -€15,000
no longer reported in 2025 (was €15,000)
- Receivables within one year +€8,500
up €8,500 (+16.1%), from €52,956 to €61,456
of which Trade receivables: +€4,559
- Cash -€2,493
down €2,493 (-16.5%), from €15,140 to €12,647
mainly Investment in fixed assets (net) (-€100,283) and Contributions, distributions and other (-€16,250)
- Debts after one year +€62,529
new in 2025: €62,529
- Other debts +€17,885
up €17,885 (+887%), from €2,016 to €19,901
- Current portion of long-term debt +€16,829
new in 2025: €16,829
- Reserves -€8,746
down €8,746 (-14.9%), from €58,624 to €49,878
- Tax, wage and social debts -€5,335
down €5,335 (-40.4%), from €13,217 to €7,882
of which Taxes: -€5,406
- Depreciation +€7,323
up €7,323 (+359%), from €2,039 to €9,362
- Gross operating margin +€1,478
up €1,478 (+4.2%), from €35,291 to €36,769
- Financial charges +€1,395
up €1,395 (+143%), from €974 to €2,368
- Taxes -€1,275
down €1,275 (-21.2%), from €6,024 to €4,749
- Staff costs +€539
up €539 (+4.5%), from €11,950 to €12,490
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 | €96,609 | €179,248 | +€82,639 | +85.5% |
| Fixed assets | 21/28 | €3,014 | €93,935 | +€90,922 | +3,017% |
| Tangible fixed assets | 22/27 | €3,014 | €93,935 | +€90,922 | +3,017% |
| Furniture and vehicles | 24 | €1,723 | €88,425 | +€86,701 | +5,031% |
| Other tangible fixed assets | 26 | €1,290 | €5,511 | +€4,220 | +327% |
| Current assets | 29/58 | €93,596 | €85,313 | -€8,283 | -8.8% |
| Stocks and contracts in progress | 3 | €8,122 | €7,778 | -€344 | -4.2% |
| Stocks | 30/36 | €8,122 | €7,778 | -€344 | -4.2% |
| Amounts receivable within one year | 40/41 | €52,956 | €61,456 | +€8,500 | +16.1% |
| Trade receivables | 40 | €45,671 | €50,229 | +€4,559 | +10.0% |
| Other amounts receivable | 41 | €7,285 | €11,226 | +€3,941 | +54.1% |
| Current investments | 50/53 | €15,000 | - | -€15,000 | |
| Cash at bank and in hand | 54/58 | €15,140 | €12,647 | -€2,493 | -16.5% |
| Deferred charges and accrued income | 490/1 | €2,377 | €3,432 | +€1,055 | +44.4% |
| Total equity and liabilities | 10/49 | €96,609 | €179,248 | +€82,639 | +85.5% |
| Equity | 10/15 | €71,124 | €62,378 | -€8,746 | -12.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €58,624 | €49,878 | -€8,746 | -14.9% |
| Distributable reserves | 133 | €58,624 | €49,878 | -€8,746 | -14.9% |
| Amounts payable | 17/49 | €25,486 | €116,870 | +€91,384 | +359% |
| Amounts payable after more than one year | 17 | - | €62,529 | +€62,529 | |
| Financial debts | 170/4 | - | €62,529 | +€62,529 | |
| Amounts payable within one year | 42/48 | €25,015 | €53,942 | +€28,927 | +116% |
| Current portion of amounts payable after more than one year | 42 | - | €16,829 | +€16,829 | |
| Trade debts | 44 | €9,781 | €9,330 | -€452 | -4.6% |
| Suppliers | 440/4 | €9,781 | €9,330 | -€452 | -4.6% |
| Taxes, remuneration and social security | 45 | €13,217 | €7,882 | -€5,335 | -40.4% |
| Taxes | 450/3 | €11,385 | €5,979 | -€5,406 | -47.5% |
| Remuneration and social security | 454/9 | €1,832 | €1,904 | +€72 | +3.9% |
| Other amounts payable | 47/48 | €2,016 | €19,901 | +€17,885 | +887% |
| Accrued charges and deferred income | 492/3 | €471 | €399 | -€72 | -15.2% |
| Remuneration, social security and pensions | 62 | €11,950 | €12,490 | +€539 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,039 | €9,362 | +€7,323 | +359% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €35,291 | €36,769 | +€1,478 | +4.2% |
| Operating profit (loss) | 9901 | €20,773 | €14,373 | -€6,400 | -30.8% |
| Financial income | 75/76B | €140 | €249 | +€109 | +77.8% |
| Recurring financial income | 75 | €140 | €249 | +€109 | +77.8% |
| Financial charges | 65/66B | €974 | €2,368 | +€1,395 | +143% |
| Recurring financial charges | 65 | €974 | €2,368 | +€1,395 | +143% |
| Profit (loss) for the period before taxes | 9903 | €19,940 | €12,254 | -€7,686 | -38.5% |
| Income taxes | 67/77 | €6,024 | €4,749 | -€1,275 | -21.2% |
| Profit (loss) for the period | 9904 | €13,916 | €7,505 | -€6,411 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,916 | €7,505 | -€6,411 | -46.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.