VDM Ventures: 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 Ventures
Largest movements
- Receivables within one year +€70,491
up €70,491 (+80.4%), from €87,700 to €158,191
of which Other amounts receivable: +€71,670
- Tangible fixed assets +€7,294
up €7,294 (+628%), from €1,161 to €8,455
of which Furniture and vehicles: +€5,335
- Cash +€3,552
up €3,552 (+26.7%), from €13,297 to €16,849
mainly Net result for the year (+€63,585) and Tax, wage and social debts (+€32,186)
- Reserves +€63,585
up €63,585 (+128%), from €49,696 to €113,281
- Tax, wage and social debts +€32,186
up €32,186 (+177%), from €18,205 to €50,391
- Advances received -€14,157
down €14,157 (-100%), from €14,157 to €0
- Trade debts +€13,042
up €13,042 (+165%), from €7,886 to €20,928
- Other debts -€12,262
down €12,262 (-100%), from €12,262 to €0
- Gross operating margin +€32,054
up €32,054 (+55.4%), from €57,873 to €89,927
- Taxes +€6,524
up €6,524 (+46.4%), from €14,062 to €20,585
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 | €103,205 | €185,600 | +€82,395 | +79.8% |
| Fixed assets | 21/28 | €1,161 | €8,455 | +€7,294 | +628% |
| Tangible fixed assets | 22/27 | €1,161 | €8,455 | +€7,294 | +628% |
| Plant, machinery and equipment | 23 | €275 | €2,234 | +€1,960 | +713% |
| Furniture and vehicles | 24 | €886 | €6,220 | +€5,335 | +602% |
| Current assets | 29/58 | €102,045 | €177,145 | +€75,101 | +73.6% |
| Amounts receivable within one year | 40/41 | €87,700 | €158,191 | +€70,491 | +80.4% |
| Trade receivables | 40 | €24,700 | €23,521 | -€1,179 | -4.8% |
| Other amounts receivable | 41 | €63,000 | €134,670 | +€71,670 | +114% |
| Cash at bank and in hand | 54/58 | €13,297 | €16,849 | +€3,552 | +26.7% |
| Deferred charges and accrued income | 490/1 | €1,047 | €2,106 | +€1,058 | +101% |
| Total equity and liabilities | 10/49 | €103,205 | €185,600 | +€82,395 | +79.8% |
| Equity | 10/15 | €50,696 | €114,281 | +€63,585 | +125% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €49,696 | €113,281 | +€63,585 | +128% |
| Distributable reserves | 133 | €49,696 | €113,281 | +€63,585 | +128% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €52,509 | €71,319 | +€18,809 | +35.8% |
| Amounts payable within one year | 42/48 | €52,509 | €71,319 | +€18,809 | +35.8% |
| Trade debts | 44 | €7,886 | €20,928 | +€13,042 | +165% |
| Suppliers | 440/4 | €7,886 | €20,928 | +€13,042 | +165% |
| Advances received on contracts in progress | 46 | €14,157 | €0 | -€14,157 | -100% |
| Taxes, remuneration and social security | 45 | €18,205 | €50,391 | +€32,186 | +177% |
| Taxes | 450/3 | €18,205 | €50,391 | +€32,186 | +177% |
| Other amounts payable | 47/48 | €12,262 | €0 | -€12,262 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,389 | €1,350 | -€39 | -2.8% |
| Other operating charges | 640/8 | €541 | €720 | +€179 | +33.1% |
| Gross operating margin | 9900 | €57,873 | €89,927 | +€32,054 | +55.4% |
| Operating profit (loss) | 9901 | €55,943 | €87,857 | +€31,915 | +57.0% |
| Financial income | 75/76B | €52 | €20 | -€32 | -61.9% |
| Recurring financial income | 75 | €52 | €20 | -€32 | -61.9% |
| Financial charges | 65/66B | €3,224 | €3,706 | +€482 | +15.0% |
| Recurring financial charges | 65 | €3,224 | €3,706 | +€482 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €52,770 | €84,171 | +€31,400 | +59.5% |
| Income taxes | 67/77 | €14,062 | €20,585 | +€6,524 | +46.4% |
| Profit (loss) for the period | 9904 | €38,709 | €63,585 | +€24,877 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,709 | €63,585 | +€24,877 | +64.3% |
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 31 October 2026 via checked.be.