VDNA: 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.
VDNA
Largest movements
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
- Cash -€18,502
down €18,502 (-26.3%), from €70,385 to €51,883
mainly Contributions, distributions and other (-€225,833) and Tax, wage and social debts (-€15,675)
- Receivables within one year +€15,311
up €15,311 (+301%), from €5,082 to €20,393
of which Trade receivables: +€10,890
- Reserves -€164,723
down €164,723 (-72.1%), from €228,413 to €63,690
- Tax, wage and social debts -€15,675
down €15,675 (-65.4%), from €23,953 to €8,278
of which Taxes: -€15,711
- Gross operating margin -€2,410
down €2,410 (-3.0%), from €80,931 to €78,521
- Financial income +€969
up €969 (+61.8%), from €1,569 to €2,538
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 | €259,384 | €78,888 | -€180,496 | -69.6% |
| Formation expenses | 20 | €423 | €183 | -€240 | -56.7% |
| Fixed assets | 21/28 | €6,744 | €6,064 | -€680 | -10.1% |
| Tangible fixed assets | 22/27 | €6,744 | €6,064 | -€680 | -10.1% |
| Furniture and vehicles | 24 | €6,744 | €6,064 | -€680 | -10.1% |
| Current assets | 29/58 | €252,216 | €72,641 | -€179,575 | -71.2% |
| Amounts receivable within one year | 40/41 | €5,082 | €20,393 | +€15,311 | +301% |
| Trade receivables | 40 | €5,082 | €15,972 | +€10,890 | +214% |
| Other amounts receivable | 41 | - | €4,421 | +€4,421 | |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €70,385 | €51,883 | -€18,502 | -26.3% |
| Deferred charges and accrued income | 490/1 | €1,749 | €364 | -€1,385 | -79.2% |
| Total equity and liabilities | 10/49 | €259,384 | €78,888 | -€180,496 | -69.6% |
| Equity | 10/15 | €233,413 | €68,690 | -€164,723 | -70.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €228,413 | €63,690 | -€164,723 | -72.1% |
| Distributable reserves | 133 | €228,413 | €63,690 | -€164,723 | -72.1% |
| Amounts payable | 17/49 | €25,971 | €10,198 | -€15,773 | -60.7% |
| Amounts payable within one year | 42/48 | €25,556 | €10,166 | -€15,390 | -60.2% |
| Trade debts | 44 | €649 | €935 | +€285 | +44.0% |
| Suppliers | 440/4 | €649 | €935 | +€285 | +44.0% |
| Taxes, remuneration and social security | 45 | €23,953 | €8,278 | -€15,675 | -65.4% |
| Taxes | 450/3 | €21,741 | €6,030 | -€15,711 | -72.3% |
| Remuneration and social security | 454/9 | €2,212 | €2,247 | +€36 | +1.6% |
| Other amounts payable | 47/48 | €953 | €953 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €415 | €32 | -€383 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,931 | €2,330 | +€399 | +20.7% |
| Other operating charges | 640/8 | €1,205 | €1,163 | -€41 | -3.4% |
| Gross operating margin | 9900 | €80,931 | €78,521 | -€2,410 | -3.0% |
| Operating profit (loss) | 9901 | €77,795 | €75,028 | -€2,768 | -3.6% |
| Financial income | 75/76B | €1,569 | €2,538 | +€969 | +61.8% |
| Recurring financial income | 75 | €1,569 | €2,538 | +€969 | +61.8% |
| Financial charges | 65/66B | €35 | €116 | +€80 | +226% |
| Recurring financial charges | 65 | €35 | €116 | +€80 | +226% |
| Profit (loss) for the period before taxes | 9903 | €79,329 | €77,450 | -€1,879 | -2.4% |
| Income taxes | 67/77 | €16,364 | €16,340 | -€24 | -0.1% |
| Profit (loss) for the period | 9904 | €62,965 | €61,110 | -€1,855 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,965 | €61,110 | -€1,855 | -2.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.