VDMTrading: 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.
VDMTrading
Largest movements
- Receivables within one year +€35,614
up €35,614 (+273%), from €13,047 to €48,660
of which Trade receivables: +€20,031
- Stocks and contracts +€25,120
new in 2025: €25,120
- Tangible fixed assets -€7,548
down €7,548 (-12.6%), from €59,855 to €52,307
of which Furniture and vehicles: -€12,817
- Cash -€5,920
down €5,920 (-13.8%), from €43,001 to €37,082
mainly Receivables within one year (-€35,614) and Stocks and contracts (-€25,120)
- Financial fixed assets +€4,500
new in 2025: €4,500
- Trade debts +€64,132
up €64,132 (+3,950%), from €1,624 to €65,756
- Reserves +€12,550
up €12,550 (+34.9%), from €36,000 to €48,550
- Debts after one year -€11,415
down €11,415 (-26.4%), from €43,296 to €31,881
- Tax, wage and social debts -€11,225
down €11,225 (-50.7%), from €22,150 to €10,925
of which Taxes: -€14,224
- Gross operating margin -€24,652
down €24,652 (-44.4%), from €55,461 to €30,809
- Taxes -€9,979
down €9,979 (-68.8%), from €14,500 to €4,521
- Depreciation +€7,189
up €7,189 (+119%), from €6,030 to €13,218
- Financial charges +€1,400
up €1,400 (+172%), from €816 to €2,215
- Other operating charges +€927
up €927 (+227%), from €409 to €1,336
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 | €116,916 | €171,473 | +€54,558 | +46.7% |
| Fixed assets | 21/28 | €59,855 | €56,807 | -€3,048 | -5.1% |
| Tangible fixed assets | 22/27 | €59,855 | €52,307 | -€7,548 | -12.6% |
| Plant, machinery and equipment | 23 | €1,564 | €6,833 | +€5,269 | +337% |
| Furniture and vehicles | 24 | €58,291 | €45,474 | -€12,817 | -22.0% |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €57,061 | €114,667 | +€57,606 | +101% |
| Stocks and contracts in progress | 3 | - | €25,120 | +€25,120 | |
| Stocks | 30/36 | - | €25,120 | +€25,120 | |
| Amounts receivable within one year | 40/41 | €13,047 | €48,660 | +€35,614 | +273% |
| Trade receivables | 40 | €9,640 | €29,672 | +€20,031 | +208% |
| Other amounts receivable | 41 | €3,406 | €18,989 | +€15,583 | +457% |
| Cash at bank and in hand | 54/58 | €43,001 | €37,082 | -€5,920 | -13.8% |
| Deferred charges and accrued income | 490/1 | €1,013 | €3,804 | +€2,791 | +276% |
| Total equity and liabilities | 10/49 | €116,916 | €171,473 | +€54,558 | +46.7% |
| Equity | 10/15 | €39,045 | €51,629 | +€12,584 | +32.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,000 | €48,550 | +€12,550 | +34.9% |
| Distributable reserves | 133 | €36,000 | €48,550 | +€12,550 | +34.9% |
| Profit (loss) carried forward | 14 | €45 | €79 | +€34 | +74.7% |
| Amounts payable | 17/49 | €77,870 | €119,844 | +€41,974 | +53.9% |
| Amounts payable after more than one year | 17 | €43,296 | €31,881 | -€11,415 | -26.4% |
| Financial debts | 170/4 | €43,296 | €31,881 | -€11,415 | -26.4% |
| Amounts payable within one year | 42/48 | €34,574 | €87,963 | +€53,389 | +154% |
| Current portion of amounts payable after more than one year | 42 | €10,800 | €11,282 | +€482 | +4.5% |
| Trade debts | 44 | €1,624 | €65,756 | +€64,132 | +3,950% |
| Suppliers | 440/4 | €1,624 | €65,756 | +€64,132 | +3,950% |
| Taxes, remuneration and social security | 45 | €22,150 | €10,925 | -€11,225 | -50.7% |
| Taxes | 450/3 | €22,150 | €7,926 | -€14,224 | -64.2% |
| Remuneration and social security | 454/9 | - | €2,999 | +€2,999 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,030 | €13,218 | +€7,189 | +119% |
| Other operating charges | 640/8 | €409 | €1,336 | +€927 | +227% |
| Gross operating margin | 9900 | €55,461 | €30,809 | -€24,652 | -44.4% |
| Operating profit (loss) | 9901 | €49,022 | €16,254 | -€32,768 | -66.8% |
| Financial income | 75/76B | €2,339 | €3,066 | +€727 | +31.1% |
| Recurring financial income | 75 | €2,339 | €3,066 | +€727 | +31.1% |
| Financial charges | 65/66B | €816 | €2,215 | +€1,400 | +172% |
| Recurring financial charges | 65 | €816 | €2,215 | +€1,400 | +172% |
| Profit (loss) for the period before taxes | 9903 | €50,545 | €17,105 | -€33,441 | -66.2% |
| Income taxes | 67/77 | €14,500 | €4,521 | -€9,979 | -68.8% |
| Profit (loss) for the period | 9904 | €36,045 | €12,584 | -€23,461 | -65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,045 | €12,584 | -€23,461 | -65.1% |
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 27 October 2026 via checked.be.