VDM Trailers: 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 Trailers
Largest movements
- Cash +€135,698
up €135,698 (+155.6%), from €87,196 to €222,894
mainly Trade debts (+€281,444) and Depreciation (+€196,744)
- Deferred charges and accrued income +€77,733
up €77,733 (+271.8%), from €28,602 to €106,335
- Tangible fixed assets -€35,849
down €35,849 (-6.2%), from €581,091 to €545,242
of which Leasing and similar rights: -€51,847
- Intangible fixed assets +€34,937
up €34,937 (+235.3%), from €14,848 to €49,785
- Receivables within one year +€31,397
up €31,397 (+13.9%), from €225,417 to €256,814
of which Other amounts receivable: +€20,212
- Trade debts +€281,444
up €281,444 (+26.4%), from €1.1m to €1.3m
- Debts after one year +€87,299
up €87,299 (+20.1%), from €434,009 to €521,309
- Reserves -€85,000
down €85,000 (-11.0%), from €775,000 to €690,000
- Advances received -€37,262
no longer reported in 2025 (was €37,262)
- Financial income -€49,428
down €49,428 (-78.0%), from €63,385 to €13,957
of which Non-recurring financial income: -€48,789
- Gross operating margin -€46,600
down €46,600 (-5.0%), from €924,489 to €877,890
- Depreciation +€43,643
up €43,643 (+28.5%), from €153,101 to €196,744
- Taxes -€23,373
down €23,373 (-98.2%), from €23,802 to €430
- Financial charges +€18,751
up €18,751 (+82.0%), from €22,872 to €41,623
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 | €2,711,689 | €2,974,642 | +€262,954 | +9.7% |
| Fixed assets | 21/28 | €598,100 | €597,268 | -€832 | -0.1% |
| Intangible fixed assets | 21 | €14,848 | €49,785 | +€34,937 | +235.3% |
| Tangible fixed assets | 22/27 | €581,091 | €545,242 | -€35,849 | -6.2% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €322,607 | €295,103 | -€27,504 | -8.5% |
| Furniture and vehicles | 24 | €67,694 | €114,029 | +€46,335 | +68.4% |
| Leasing and similar rights | 25 | €186,383 | €134,536 | -€51,847 | -27.8% |
| Other tangible fixed assets | 26 | €4,407 | €1,575 | -€2,833 | -64.3% |
| Financial fixed assets | 28 | €2,161 | €2,241 | +€80 | +3.7% |
| Current assets | 29/58 | €2,113,589 | €2,377,375 | +€263,786 | +12.5% |
| Stocks and contracts in progress | 3 | €1,772,374 | €1,791,332 | +€18,958 | +1.1% |
| Stocks | 30/36 | €1,772,374 | €1,791,332 | +€18,958 | +1.1% |
| Amounts receivable within one year | 40/41 | €225,417 | €256,814 | +€31,397 | +13.9% |
| Trade receivables | 40 | €104,374 | €115,560 | +€11,186 | +10.7% |
| Other amounts receivable | 41 | €121,043 | €141,254 | +€20,212 | +16.7% |
| Cash at bank and in hand | 54/58 | €87,196 | €222,894 | +€135,698 | +155.6% |
| Deferred charges and accrued income | 490/1 | €28,602 | €106,335 | +€77,733 | +271.8% |
| Total equity and liabilities | 10/49 | €2,711,689 | €2,974,642 | +€262,954 | +9.7% |
| Equity | 10/15 | €795,882 | €713,670 | -€82,213 | -10.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Revaluation surpluses | 12 | - | €3,135 | +€3,135 | |
| Reserves | 13 | €775,000 | €690,000 | -€85,000 | -11.0% |
| Distributable reserves | 133 | €775,000 | €690,000 | -€85,000 | -11.0% |
| Profit (loss) carried forward | 14 | €422 | €75 | -€347 | -82.2% |
| Amounts payable | 17/49 | €1,915,806 | €2,260,973 | +€345,166 | +18.0% |
| Amounts payable after more than one year | 17 | €434,009 | €521,309 | +€87,299 | +20.1% |
| Financial debts | 170/4 | €434,009 | €521,309 | +€87,299 | +20.1% |
| Amounts payable within one year | 42/48 | €1,478,662 | €1,739,664 | +€261,002 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €74,725 | €78,454 | +€3,729 | +5.0% |
| Financial debts | 43 | €211,939 | €226,049 | +€14,110 | +6.7% |
| Credit institutions | 430/8 | €211,939 | €226,049 | +€14,110 | +6.7% |
| Trade debts | 44 | €1,064,417 | €1,345,861 | +€281,444 | +26.4% |
| Suppliers | 440/4 | €1,064,417 | €1,345,861 | +€281,444 | +26.4% |
| Advances received on contracts in progress | 46 | €37,262 | - | -€37,262 | |
| Taxes, remuneration and social security | 45 | €90,320 | €89,300 | -€1,019 | -1.1% |
| Taxes | 450/3 | €23,100 | €23,505 | +€405 | +1.8% |
| Remuneration and social security | 454/9 | €67,220 | €65,795 | -€1,425 | -2.1% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €3,135 | €0 | -€3,135 | -100.0% |
| Non-recurring operating income | 76A | - | €2,999 | +€2,999 | |
| Remuneration, social security and pensions | 62 | €664,735 | €665,832 | +€1,097 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,101 | €196,744 | +€43,643 | +28.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,532 | +€16,532 | |
| Other operating charges | 640/8 | €33,050 | €46,735 | +€13,684 | +41.4% |
| Non-recurring operating charges | 66A | €15,356 | €9,298 | -€6,058 | -39.4% |
| Gross operating margin | 9900 | €924,489 | €877,890 | -€46,600 | -5.0% |
| Operating profit (loss) | 9901 | €58,247 | -€57,251 | -€115,498 | |
| Financial income | 75/76B | €63,385 | €13,957 | -€49,428 | -78.0% |
| Recurring financial income | 75 | €14,596 | €13,957 | -€639 | -4.4% |
| Non-recurring financial income | 76B | €48,789 | - | -€48,789 | |
| Financial charges | 65/66B | €22,872 | €41,623 | +€18,751 | +82.0% |
| Recurring financial charges | 65 | €22,872 | €41,623 | +€18,751 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | €98,760 | -€84,917 | -€183,677 | |
| Income taxes | 67/77 | €23,802 | €430 | -€23,373 | -98.2% |
| Profit (loss) for the period | 9904 | €74,957 | -€85,347 | -€160,304 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,957 | -€85,347 | -€160,304 |
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 8 October 2026 via checked.be.