VDMProjects: 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.
VDMProjects
Largest movements
- Cash -€7,832
down €7,832 (-50.9%), from €15,383 to €7,551
mainly Trade debts (-€9,013) and Tax, wage and social debts (-€6,906)
- Receivables within one year -€5,004
down €5,004 (-51.2%), from €9,781 to €4,777
of which Trade receivables: -€9,500
- Deferred charges and accrued income -€624
down €624 (-41.1%), from €1,520 to €896
- Trade debts -€9,013
down €9,013 (-84.4%), from €10,678 to €1,665
- Tax, wage and social debts -€6,906
down €6,906 (-58.6%), from €11,790 to €4,884
- Reserves +€2,242
up €2,242 (+7.8%), from €28,924 to €31,166
- Gross operating margin -€32,700
down €32,700 (-80.0%), from €40,884 to €8,184
- Taxes -€6,625
down €6,625 (-71.8%), from €9,227 to €2,602
- Depreciation +€783
up €783 (+27.9%), from €2,810 to €3,594
- Financial income +€517
up €517 (+154%), from €335 to €852
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 | €53,528 | €39,735 | -€13,793 | -25.8% |
| Fixed assets | 21/28 | €12,844 | €12,511 | -€333 | -2.6% |
| Tangible fixed assets | 22/27 | €12,144 | €11,811 | -€333 | -2.7% |
| Plant, machinery and equipment | 23 | €7,355 | €8,053 | +€698 | +9.5% |
| Furniture and vehicles | 24 | €4,789 | €3,758 | -€1,031 | -21.5% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €40,684 | €27,224 | -€13,460 | -33.1% |
| Amounts receivable after more than one year | 29 | €14,000 | €14,000 | = | 0.0% |
| Other amounts receivable | 291 | €14,000 | €14,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,781 | €4,777 | -€5,004 | -51.2% |
| Trade receivables | 40 | €9,500 | €0 | -€9,500 | -100% |
| Other amounts receivable | 41 | €281 | €4,777 | +€4,496 | +1,601% |
| Cash at bank and in hand | 54/58 | €15,383 | €7,551 | -€7,832 | -50.9% |
| Deferred charges and accrued income | 490/1 | €1,520 | €896 | -€624 | -41.1% |
| Total equity and liabilities | 10/49 | €53,528 | €39,735 | -€13,793 | -25.8% |
| Equity | 10/15 | €30,944 | €33,186 | +€2,242 | +7.2% |
| Contributions | 10/11 | €2,020 | €2,020 | = | 0.0% |
| Reserves | 13 | €28,924 | €31,166 | +€2,242 | +7.8% |
| Distributable reserves | 133 | €28,924 | €31,166 | +€2,242 | +7.8% |
| Amounts payable | 17/49 | €22,584 | €6,549 | -€16,035 | -71.0% |
| Amounts payable within one year | 42/48 | €22,584 | €6,549 | -€16,035 | -71.0% |
| Trade debts | 44 | €10,678 | €1,665 | -€9,013 | -84.4% |
| Suppliers | 440/4 | €10,678 | €1,665 | -€9,013 | -84.4% |
| Taxes, remuneration and social security | 45 | €11,790 | €4,884 | -€6,906 | -58.6% |
| Taxes | 450/3 | €11,790 | €4,884 | -€6,906 | -58.6% |
| Other amounts payable | 47/48 | €116 | €0 | -€116 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,810 | €3,594 | +€783 | +27.9% |
| Other operating charges | 640/8 | €174 | €172 | -€2 | -1.2% |
| Gross operating margin | 9900 | €40,884 | €8,184 | -€32,700 | -80.0% |
| Operating profit (loss) | 9901 | €37,900 | €4,418 | -€33,482 | -88.3% |
| Financial income | 75/76B | €335 | €852 | +€517 | +154% |
| Recurring financial income | 75 | €335 | €852 | +€517 | +154% |
| Financial charges | 65/66B | €84 | €427 | +€343 | +410% |
| Recurring financial charges | 65 | €84 | €427 | +€343 | +410% |
| Profit (loss) for the period before taxes | 9903 | €38,151 | €4,844 | -€33,308 | -87.3% |
| Income taxes | 67/77 | €9,227 | €2,602 | -€6,625 | -71.8% |
| Profit (loss) for the period | 9904 | €28,924 | €2,242 | -€26,682 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,924 | €2,242 | -€26,682 | -92.2% |
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.