VDMF Poolprojects: 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.
VDMF Poolprojects
Largest movements
- Cash +€31,613
up €31,613 (+457.5%), from €6,910 to €38,523
mainly Depreciation (+€32,279) and Receivables within one year (+€11,542)
- Receivables within one year -€11,542
down €11,542 (-17.0%), from €67,930 to €56,389
of which Trade receivables: -€21,538
- Tangible fixed assets -€4,284
down €4,284 (-5.9%), from €72,387 to €68,103
of which Leasing and similar rights: -€9,919
- Debts after one year +€5,573
up €5,573 (+22.8%), from €24,483 to €30,056
- Current portion of long-term debt +€4,489
up €4,489 (+40.6%), from €11,055 to €15,544
- Reserves +€3,828
up €3,828 (+4.6%), from €84,045 to €87,872
- Gross operating margin -€4,512
down €4,512 (-9.3%), from €48,591 to €44,080
- Taxes -€3,419
down €3,419 (-75.4%), from €4,534 to €1,115
- Other operating charges +€2,985
up €2,985 (+462.5%), from €645 to €3,630
- Depreciation +€1,867
up €1,867 (+6.1%), from €30,412 to €32,279
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 | €150,974 | €165,511 | +€14,536 | +9.6% |
| Fixed assets | 21/28 | €74,609 | €69,901 | -€4,707 | -6.3% |
| Intangible fixed assets | 21 | €1,022 | €598 | -€424 | -41.5% |
| Tangible fixed assets | 22/27 | €72,387 | €68,103 | -€4,284 | -5.9% |
| Land and buildings | 22 | €9,992 | €11,461 | +€1,469 | +14.7% |
| Plant, machinery and equipment | 23 | €3,256 | €2,392 | -€863 | -26.5% |
| Furniture and vehicles | 24 | €44,669 | €49,699 | +€5,030 | +11.3% |
| Leasing and similar rights | 25 | €14,470 | €4,551 | -€9,919 | -68.5% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €76,365 | €95,609 | +€19,244 | +25.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €67,930 | €56,389 | -€11,542 | -17.0% |
| Trade receivables | 40 | €53,799 | €32,261 | -€21,538 | -40.0% |
| Other amounts receivable | 41 | €14,131 | €24,127 | +€9,996 | +70.7% |
| Cash at bank and in hand | 54/58 | €6,910 | €38,523 | +€31,613 | +457.5% |
| Deferred charges and accrued income | 490/1 | €1,525 | €697 | -€828 | -54.3% |
| Total equity and liabilities | 10/49 | €150,974 | €165,511 | +€14,536 | +9.6% |
| Equity | 10/15 | €90,045 | €93,872 | +€3,828 | +4.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €84,045 | €87,872 | +€3,828 | +4.6% |
| Distributable reserves | 133 | €84,045 | €87,872 | +€3,828 | +4.6% |
| Amounts payable | 17/49 | €60,929 | €71,638 | +€10,709 | +17.6% |
| Amounts payable after more than one year | 17 | €24,483 | €30,056 | +€5,573 | +22.8% |
| Financial debts | 170/4 | €24,483 | €30,056 | +€5,573 | +22.8% |
| Amounts payable within one year | 42/48 | €36,446 | €41,582 | +€5,136 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €11,055 | €15,544 | +€4,489 | +40.6% |
| Trade debts | 44 | €19,289 | €19,701 | +€412 | +2.1% |
| Suppliers | 440/4 | €19,289 | €19,701 | +€412 | +2.1% |
| Taxes, remuneration and social security | 45 | €6,102 | €6,337 | +€236 | +3.9% |
| Taxes | 450/3 | €6,102 | €6,337 | +€236 | +3.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,412 | €32,279 | +€1,867 | +6.1% |
| Other operating charges | 640/8 | €645 | €3,630 | +€2,985 | +462.5% |
| Non-recurring operating charges | 66A | - | €1,650 | +€1,650 | |
| Gross operating margin | 9900 | €48,591 | €44,080 | -€4,512 | -9.3% |
| Operating profit (loss) | 9901 | €17,534 | €6,520 | -€11,013 | -62.8% |
| Financial income | 75/76B | €568 | €965 | +€397 | +69.8% |
| Recurring financial income | 75 | €568 | €965 | +€397 | +69.8% |
| Financial charges | 65/66B | €2,533 | €2,543 | +€10 | +0.4% |
| Recurring financial charges | 65 | €2,533 | €2,543 | +€10 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €15,569 | €4,942 | -€10,627 | -68.3% |
| Income taxes | 67/77 | €4,534 | €1,115 | -€3,419 | -75.4% |
| Profit (loss) for the period | 9904 | €11,035 | €3,828 | -€7,208 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,035 | €3,828 | -€7,208 | -65.3% |
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 2 October 2026 via checked.be.