VDM SERVICES: 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 SERVICES
Largest movements
- Tangible fixed assets -€550,400
down €550,400 (-23.9%), from €2.3m to €1.7m
of which Land and buildings: -€497,608
- Cash +€497,706
up €497,706 (+1,308%), from €38,049 to €535,756
mainly Investment in fixed assets (net) (+€469,496) and Other debts (+€185,065)
- Other debts +€185,065
up €185,065 (+592%), from €31,264 to €216,329
- Debts after one year -€132,231
down €132,231 (-8.6%), from €1.5m to €1.4m
- Trade debts -€52,073
down €52,073 (-72.1%), from €72,245 to €20,172
- Tax, wage and social debts -€32,542
down €32,542 (-96.3%), from €33,778 to €1,236
- Gross operating margin -€27,365
down €27,365 (-13.3%), from €205,020 to €177,655
- Depreciation -€26,085
down €26,085 (-24.4%), from €106,989 to €80,904
- Financial charges -€6,504
down €6,504 (-8.1%), from €80,675 to €74,171
- Taxes +€3,367
up €3,367 (+1,203%), from €280 to €3,646
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 | €2,392,254 | €2,352,655 | -€39,599 | -1.7% |
| Fixed assets | 21/28 | €2,299,443 | €1,749,043 | -€550,400 | -23.9% |
| Tangible fixed assets | 22/27 | €2,299,443 | €1,749,043 | -€550,400 | -23.9% |
| Land and buildings | 22 | €2,022,461 | €1,524,853 | -€497,608 | -24.6% |
| Furniture and vehicles | 24 | €71,833 | €47,582 | -€24,251 | -33.8% |
| Leasing and similar rights | 25 | €205,148 | €176,607 | -€28,541 | -13.9% |
| Current assets | 29/58 | €92,811 | €603,612 | +€510,801 | +550% |
| Amounts receivable within one year | 40/41 | €50,598 | €64,284 | +€13,686 | +27.0% |
| Trade receivables | 40 | - | €45,925 | +€45,925 | |
| Other amounts receivable | 41 | €50,598 | €18,359 | -€32,239 | -63.7% |
| Cash at bank and in hand | 54/58 | €38,049 | €535,756 | +€497,706 | +1,308% |
| Deferred charges and accrued income | 490/1 | €4,164 | €3,572 | -€591 | -14.2% |
| Total equity and liabilities | 10/49 | €2,392,254 | €2,352,655 | -€39,599 | -1.7% |
| Equity | 10/15 | €362,647 | €371,306 | +€8,659 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,047 | €352,706 | +€8,659 | +2.5% |
| Distributable reserves | 133 | €344,047 | €352,706 | +€8,659 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,029,607 | €1,981,348 | -€48,258 | -2.4% |
| Amounts payable after more than one year | 17 | €1,535,478 | €1,403,247 | -€132,231 | -8.6% |
| Financial debts | 170/4 | €1,535,478 | €1,403,247 | -€132,231 | -8.6% |
| Amounts payable within one year | 42/48 | €488,629 | €578,101 | +€89,472 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €142,854 | €140,365 | -€2,490 | -1.7% |
| Financial debts | 43 | €208,488 | €200,000 | -€8,488 | -4.1% |
| Credit institutions | 430/8 | €208,488 | €200,000 | -€8,488 | -4.1% |
| Trade debts | 44 | €72,245 | €20,172 | -€52,073 | -72.1% |
| Suppliers | 440/4 | €72,245 | €20,172 | -€52,073 | -72.1% |
| Taxes, remuneration and social security | 45 | €33,778 | €1,236 | -€32,542 | -96.3% |
| Taxes | 450/3 | €33,778 | €1,236 | -€32,542 | -96.3% |
| Other amounts payable | 47/48 | €31,264 | €216,329 | +€185,065 | +592% |
| Accrued charges and deferred income | 492/3 | €5,500 | - | -€5,500 | |
| Non-recurring operating income | 76A | - | €44,480 | +€44,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,989 | €80,904 | -€26,085 | -24.4% |
| Other operating charges | 640/8 | €11,923 | €10,282 | -€1,641 | -13.8% |
| Non-recurring operating charges | 66A | €11,899 | - | -€11,899 | |
| Gross operating margin | 9900 | €205,020 | €177,655 | -€27,365 | -13.3% |
| Operating profit (loss) | 9901 | €74,209 | €86,469 | +€12,259 | +16.5% |
| Financial income | 75/76B | €1,947 | €7 | -€1,939 | -99.6% |
| Recurring financial income | 75 | €1,947 | €7 | -€1,939 | -99.6% |
| Financial charges | 65/66B | €80,675 | €74,171 | -€6,504 | -8.1% |
| Recurring financial charges | 65 | €80,675 | €74,171 | -€6,504 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,519 | €12,306 | +€16,824 | |
| Income taxes | 67/77 | €280 | €3,646 | +€3,367 | +1,203% |
| Profit (loss) for the period | 9904 | -€4,799 | €8,659 | +€13,458 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,799 | €8,659 | +€13,458 |
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 17 October 2026 via checked.be.