VDMV: 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.
VDMV
Largest movements
- Cash -€22,241
down €22,241 (-7.8%), from €285,760 to €263,519
mainly Contributions, distributions and other (-€80,508) and Investment in fixed assets (net) (-€6,804)
- Tangible fixed assets +€4,971
up €4,971 (+127%), from €3,911 to €8,882
of which Other tangible fixed assets: +€5,793
- Reserves -€32,821
down €32,821 (-11.7%), from €281,416 to €248,594
- Tax, wage and social debts +€15,220
up €15,220 (+547%), from €2,783 to €18,004
- Taxes -€11,777
down €11,777 (-82.7%), from €14,247 to €2,470
- Gross operating margin +€2,298
up €2,298 (+4.7%), from €49,028 to €51,326
- Depreciation -€1,110
down €1,110 (-37.7%), from €2,943 to €1,834
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 | €293,464 | €274,837 | -€18,627 | -6.3% |
| Fixed assets | 21/28 | €3,911 | €8,882 | +€4,971 | +127% |
| Tangible fixed assets | 22/27 | €3,911 | €8,882 | +€4,971 | +127% |
| Furniture and vehicles | 24 | €1,351 | €529 | -€822 | -60.8% |
| Other tangible fixed assets | 26 | €2,560 | €8,353 | +€5,793 | +226% |
| Current assets | 29/58 | €289,553 | €265,955 | -€23,598 | -8.1% |
| Amounts receivable within one year | 40/41 | €3,794 | €2,436 | -€1,357 | -35.8% |
| Trade receivables | 40 | - | €258 | +€258 | |
| Other amounts receivable | 41 | €3,794 | €2,179 | -€1,615 | -42.6% |
| Cash at bank and in hand | 54/58 | €285,760 | €263,519 | -€22,241 | -7.8% |
| Total equity and liabilities | 10/49 | €293,464 | €274,837 | -€18,627 | -6.3% |
| Equity | 10/15 | €289,476 | €256,654 | -€32,821 | -11.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €281,416 | €248,594 | -€32,821 | -11.7% |
| Distributable reserves | 133 | €281,416 | €248,594 | -€32,821 | -11.7% |
| Amounts payable | 17/49 | €3,989 | €18,183 | +€14,194 | +356% |
| Amounts payable within one year | 42/48 | €3,989 | €18,183 | +€14,194 | +356% |
| Financial debts | 43 | - | €179 | +€179 | |
| Credit institutions | 430/8 | - | €179 | +€179 | |
| Trade debts | 44 | €1,206 | - | -€1,206 | |
| Suppliers | 440/4 | €1,206 | - | -€1,206 | |
| Taxes, remuneration and social security | 45 | €2,783 | €18,004 | +€15,220 | +547% |
| Taxes | 450/3 | €2,783 | €18,004 | +€15,220 | +547% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,943 | €1,834 | -€1,110 | -37.7% |
| Other operating charges | 640/8 | €1,208 | €1,699 | +€492 | +40.7% |
| Gross operating margin | 9900 | €49,028 | €51,326 | +€2,298 | +4.7% |
| Operating profit (loss) | 9901 | €44,877 | €47,794 | +€2,917 | +6.5% |
| Financial income | 75/76B | €2,342 | €2,824 | +€482 | +20.6% |
| Recurring financial income | 75 | €2,342 | €2,824 | +€482 | +20.6% |
| Financial charges | 65/66B | €483 | €460 | -€23 | -4.7% |
| Recurring financial charges | 65 | €483 | €460 | -€23 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €46,736 | €50,157 | +€3,421 | +7.3% |
| Income taxes | 67/77 | €14,247 | €2,470 | -€11,777 | -82.7% |
| Profit (loss) for the period | 9904 | €32,489 | €47,687 | +€15,198 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,489 | €47,687 | +€15,198 | +46.8% |
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 14 October 2026 via checked.be.