VDMatics: 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.
VDMatics
Largest movements
- Receivables within one year +€41,915
up €41,915 (+144.1%), from €29,083 to €70,999
of which Trade receivables: +€41,990
- Cash +€13,799
up €13,799 (+98.7%), from €13,974 to €27,773
mainly Net result for the year (+€93,784) and Tax, wage and social debts (+€23,916)
- Reserves +€93,750
up €93,750 (+200.5%), from €46,750 to €140,500
- Debts after one year -€86,477
down €86,477 (-18.3%), from €473,241 to €386,763
- Tax, wage and social debts +€23,916
up €23,916 (+74.6%), from €32,048 to €55,964
of which Taxes: +€21,416
- Trade debts +€21,791
up €21,791 (+1346.6%), from €1,618 to €23,410
- Gross operating margin +€71,570
up €71,570 (+84.3%), from €84,854 to €156,424
- Taxes +€20,416
up €20,416 (+84.8%), from €24,075 to €44,491
- Financial charges +€4,564
up €4,564 (+29.9%), from €15,257 to €19,821
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 | €644,583 | €702,536 | +€57,953 | +9.0% |
| Fixed assets | 21/28 | €601,484 | €603,716 | +€2,232 | +0.4% |
| Tangible fixed assets | 22/27 | €1,484 | €3,716 | +€2,232 | +150.5% |
| Plant, machinery and equipment | 23 | €1,484 | €1,147 | -€337 | -22.7% |
| Furniture and vehicles | 24 | - | €2,569 | +€2,569 | |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €43,099 | €98,820 | +€55,721 | +129.3% |
| Amounts receivable within one year | 40/41 | €29,083 | €70,999 | +€41,915 | +144.1% |
| Trade receivables | 40 | €22,990 | €64,980 | +€41,990 | +182.6% |
| Other amounts receivable | 41 | €6,093 | €6,019 | -€75 | -1.2% |
| Cash at bank and in hand | 54/58 | €13,974 | €27,773 | +€13,799 | +98.7% |
| Deferred charges and accrued income | 490/1 | €42 | €49 | +€7 | +16.6% |
| Total equity and liabilities | 10/49 | €644,583 | €702,536 | +€57,953 | +9.0% |
| Equity | 10/15 | €49,801 | €143,584 | +€93,784 | +188.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €46,750 | €140,500 | +€93,750 | +200.5% |
| Distributable reserves | 133 | €46,750 | €140,500 | +€93,750 | +200.5% |
| Profit (loss) carried forward | 14 | €51 | €84 | +€34 | +66.4% |
| Amounts payable | 17/49 | €594,782 | €558,952 | -€35,830 | -6.0% |
| Amounts payable after more than one year | 17 | €473,241 | €386,763 | -€86,477 | -18.3% |
| Financial debts | 170/4 | €473,241 | €386,763 | -€86,477 | -18.3% |
| Amounts payable within one year | 42/48 | €118,917 | €167,689 | +€48,772 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €85,250 | €88,315 | +€3,064 | +3.6% |
| Trade debts | 44 | €1,618 | €23,410 | +€21,791 | +1346.6% |
| Suppliers | 440/4 | €1,618 | €23,410 | +€21,791 | +1346.6% |
| Taxes, remuneration and social security | 45 | €32,048 | €55,964 | +€23,916 | +74.6% |
| Taxes | 450/3 | €32,048 | €53,464 | +€21,416 | +66.8% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Accrued charges and deferred income | 492/3 | €2,625 | €4,500 | +€1,875 | +71.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200 | €685 | +€486 | +243.4% |
| Other operating charges | 640/8 | €402 | €313 | -€89 | -22.2% |
| Gross operating margin | 9900 | €84,854 | €156,424 | +€71,570 | +84.3% |
| Operating profit (loss) | 9901 | €84,252 | €155,426 | +€71,174 | +84.5% |
| Financial income | 75/76B | €1,880 | €2,670 | +€790 | +42.0% |
| Recurring financial income | 75 | €1,880 | €2,670 | +€790 | +42.0% |
| Financial charges | 65/66B | €15,257 | €19,821 | +€4,564 | +29.9% |
| Recurring financial charges | 65 | €15,257 | €19,821 | +€4,564 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €70,876 | €138,275 | +€67,399 | +95.1% |
| Income taxes | 67/77 | €24,075 | €44,491 | +€20,416 | +84.8% |
| Profit (loss) for the period | 9904 | €46,801 | €93,784 | +€46,983 | +100.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,801 | €93,784 | +€46,983 | +100.4% |
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 12 October 2026 via checked.be.