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
- Receivables within one year -€19,391
down €19,391 (-63.3%), from €30,642 to €11,251
of which Trade receivables: -€13,062
- Stocks and contracts -€2,260
down €2,260 (-69.9%), from €3,235 to €974
- Deferred charges and accrued income +€1,600
up €1,600 (+123%), from €1,296 to €2,896
- Cash -€1,311
down €1,311 (-11.0%), from €11,967 to €10,656
mainly Contributions, distributions and other (-€17,647) and Trade debts (-€12,505)
- Tangible fixed assets -€1,030
down €1,030 (-6.2%), from €16,705 to €15,675
of which Leasing and similar rights: -€2,250
- Trade debts -€12,505
down €12,505 (-90.2%), from €13,863 to €1,358
- Reserves -€4,954
down €4,954 (-17.9%), from €27,643 to €22,690
- Current portion of long-term debt -€4,630
down €4,630 (-100%), from €4,630 to €0
- Short-term financial debts -€2,019
down €2,019 (-45.6%), from €4,423 to €2,404
- Other debts +€1,540
up €1,540 (+12.9%), from €11,910 to €13,450
- Gross operating margin +€9,321
up €9,321 (+75.1%), from €12,410 to €21,731
- Taxes +€2,360
up €2,360 (+209%), from €1,129 to €3,489
- Depreciation -€1,606
down €1,606 (-26.4%), from €6,090 to €4,484
- Financial charges -€334
down €334 (-51.5%), from €649 to €315
- Other operating charges -€278
down €278 (-25.1%), from €1,108 to €830
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 | €64,020 | €41,453 | -€22,567 | -35.3% |
| Fixed assets | 21/28 | €16,880 | €15,675 | -€1,205 | -7.1% |
| Tangible fixed assets | 22/27 | €16,705 | €15,675 | -€1,030 | -6.2% |
| Land and buildings | 22 | €13,319 | €14,404 | +€1,085 | +8.1% |
| Plant, machinery and equipment | 23 | €741 | €1,034 | +€293 | +39.5% |
| Furniture and vehicles | 24 | €394 | €237 | -€157 | -39.8% |
| Leasing and similar rights | 25 | €2,250 | €0 | -€2,250 | -100% |
| Financial fixed assets | 28 | €176 | €0 | -€176 | -100% |
| Current assets | 29/58 | €47,140 | €25,778 | -€21,362 | -45.3% |
| Stocks and contracts in progress | 3 | €3,235 | €974 | -€2,260 | -69.9% |
| Stocks | 30/36 | €3,235 | €974 | -€2,260 | -69.9% |
| Amounts receivable within one year | 40/41 | €30,642 | €11,251 | -€19,391 | -63.3% |
| Trade receivables | 40 | €20,066 | €7,004 | -€13,062 | -65.1% |
| Other amounts receivable | 41 | €10,575 | €4,247 | -€6,329 | -59.8% |
| Cash at bank and in hand | 54/58 | €11,967 | €10,656 | -€1,311 | -11.0% |
| Deferred charges and accrued income | 490/1 | €1,296 | €2,896 | +€1,600 | +123% |
| Total equity and liabilities | 10/49 | €64,020 | €41,453 | -€22,567 | -35.3% |
| Equity | 10/15 | €28,643 | €23,690 | -€4,954 | -17.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €27,643 | €22,690 | -€4,954 | -17.9% |
| Distributable reserves | 133 | €27,643 | €22,690 | -€4,954 | -17.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €35,377 | €17,763 | -€17,614 | -49.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €35,377 | €17,763 | -€17,614 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | €4,630 | €0 | -€4,630 | -100% |
| Financial debts | 43 | €4,423 | €2,404 | -€2,019 | -45.6% |
| Credit institutions | 430/8 | €4,423 | €2,404 | -€2,019 | -45.6% |
| Trade debts | 44 | €13,863 | €1,358 | -€12,505 | -90.2% |
| Suppliers | 440/4 | €13,863 | €1,358 | -€12,505 | -90.2% |
| Taxes, remuneration and social security | 45 | €551 | €551 | = | 0.0% |
| Taxes | 450/3 | €551 | €551 | = | 0.0% |
| Other amounts payable | 47/48 | €11,910 | €13,450 | +€1,540 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,090 | €4,484 | -€1,606 | -26.4% |
| Other operating charges | 640/8 | €1,108 | €830 | -€278 | -25.1% |
| Gross operating margin | 9900 | €12,410 | €21,731 | +€9,321 | +75.1% |
| Operating profit (loss) | 9901 | €5,212 | €16,418 | +€11,206 | +215% |
| Financial income | 75/76B | €279 | €80 | -€199 | -71.5% |
| Recurring financial income | 75 | €279 | €80 | -€199 | -71.5% |
| Financial charges | 65/66B | €649 | €315 | -€334 | -51.5% |
| Recurring financial charges | 65 | €649 | €315 | -€334 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €4,842 | €16,182 | +€11,340 | +234% |
| Income taxes | 67/77 | €1,129 | €3,489 | +€2,360 | +209% |
| Profit (loss) for the period | 9904 | €3,713 | €12,693 | +€8,980 | +242% |
| Profit (loss) for the period to be appropriated | 9905 | €3,713 | €12,693 | +€8,980 | +242% |
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 29 October 2026 via checked.be.