VDMR: 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.
VDMR
Largest movements
- Cash -€77,117
down €77,117 (-85.4%), from €90,345 to €13,229
mainly Other debts (-€61,000) and Contributions, distributions and other (-€16,471)
- Receivables within one year +€5,318
up €5,318 (+22.2%), from €23,962 to €29,280
of which Other amounts receivable: +€7,450
- Other debts -€61,000
down €61,000 (-81.3%), from €75,000 to €14,000
- Tax, wage and social debts -€10,835
down €10,835 (-61.6%), from €17,586 to €6,750
- Trade debts -€1,691
no longer reported in 2025 (was €1,691)
- Gross operating margin -€4,081
down €4,081 (-15.0%), from €27,123 to €23,042
- Taxes -€1,212
down €1,212 (-18.0%), from €6,719 to €5,507
- Financial income +€297
up €297 (+187.4%), from €158 to €455
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 | €115,981 | €42,963 | -€73,017 | -63.0% |
| Fixed assets | 21/28 | €1,264 | €455 | -€809 | -64.0% |
| Tangible fixed assets | 22/27 | €1,264 | €455 | -€809 | -64.0% |
| Plant, machinery and equipment | 23 | €1,264 | €455 | -€809 | -64.0% |
| Current assets | 29/58 | €114,717 | €42,508 | -€72,208 | -62.9% |
| Amounts receivable within one year | 40/41 | €23,962 | €29,280 | +€5,318 | +22.2% |
| Trade receivables | 40 | €16,591 | €14,458 | -€2,132 | -12.9% |
| Other amounts receivable | 41 | €7,371 | €14,821 | +€7,450 | +101.1% |
| Cash at bank and in hand | 54/58 | €90,345 | €13,229 | -€77,117 | -85.4% |
| Deferred charges and accrued income | 490/1 | €410 | - | -€410 | |
| Total equity and liabilities | 10/49 | €115,981 | €42,963 | -€73,017 | -63.0% |
| Equity | 10/15 | €21,704 | €22,213 | +€509 | +2.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €20,704 | €21,213 | +€509 | +2.5% |
| Distributable reserves | 133 | €20,704 | €21,213 | +€509 | +2.5% |
| Amounts payable | 17/49 | €94,277 | €20,750 | -€73,526 | -78.0% |
| Amounts payable within one year | 42/48 | €94,277 | €20,750 | -€73,526 | -78.0% |
| Trade debts | 44 | €1,691 | - | -€1,691 | |
| Suppliers | 440/4 | €1,691 | - | -€1,691 | |
| Taxes, remuneration and social security | 45 | €17,586 | €6,750 | -€10,835 | -61.6% |
| Taxes | 450/3 | €17,586 | €6,750 | -€10,835 | -61.6% |
| Other amounts payable | 47/48 | €75,000 | €14,000 | -€61,000 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804 | €809 | +€5 | +0.7% |
| Other operating charges | 640/8 | €148 | €150 | +€2 | +1.4% |
| Gross operating margin | 9900 | €27,123 | €23,042 | -€4,081 | -15.0% |
| Operating profit (loss) | 9901 | €26,171 | €22,083 | -€4,088 | -15.6% |
| Financial income | 75/76B | €158 | €455 | +€297 | +187.4% |
| Recurring financial income | 75 | €158 | €455 | +€297 | +187.4% |
| Financial charges | 65/66B | €136 | €52 | -€84 | -61.7% |
| Recurring financial charges | 65 | €136 | €52 | -€84 | -61.7% |
| Profit (loss) for the period before taxes | 9903 | €26,194 | €22,487 | -€3,707 | -14.2% |
| Income taxes | 67/77 | €6,719 | €5,507 | -€1,212 | -18.0% |
| Profit (loss) for the period | 9904 | €19,475 | €16,980 | -€2,496 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,475 | €16,980 | -€2,496 | -12.8% |
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.