VDO: 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.
VDO
Largest movements
- Receivables within one year -€37,089
down €37,089 (-78.8%), from €47,089 to €10,000
- Cash +€30,963
up €30,963 (+23.2%), from €133,178 to €164,141
mainly Receivables within one year (+€37,089) and Depreciation (+€25,003)
- Tangible fixed assets -€17,404
down €17,404 (-21.4%), from €81,449 to €64,045
of which Furniture and vehicles: -€23,869
- Deferred charges and accrued income -€6,636
down €6,636 (-5.5%), from €121,468 to €114,832
- Other debts -€19,486
down €19,486 (-95.4%), from €20,416 to €930
- Trade debts -€17,726
down €17,726 (-69.6%), from €25,477 to €7,751
- Taxes +€23,702
up €23,702 (+334.4%), from €7,087 to €30,789
- Gross operating margin +€23,358
up €23,358 (+68.1%), from €34,277 to €57,635
- Financial income -€1,873
no longer reported in 2025 (was €1,873)
- Financial charges -€1,142
down €1,142 (-88.2%), from €1,295 to €153
- Depreciation +€778
up €778 (+3.2%), from €24,225 to €25,003
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 | €383,184 | €353,018 | -€30,166 | -7.9% |
| Fixed assets | 21/28 | €81,449 | €64,045 | -€17,404 | -21.4% |
| Tangible fixed assets | 22/27 | €81,449 | €64,045 | -€17,404 | -21.4% |
| Plant, machinery and equipment | 23 | €3,685 | €2,550 | -€1,135 | -30.8% |
| Furniture and vehicles | 24 | €77,764 | €53,895 | -€23,869 | -30.7% |
| Assets under construction and advance payments | 27 | - | €7,600 | +€7,600 | |
| Current assets | 29/58 | €301,735 | €288,973 | -€12,762 | -4.2% |
| Amounts receivable within one year | 40/41 | €47,089 | €10,000 | -€37,089 | -78.8% |
| Other amounts receivable | 41 | €47,089 | €10,000 | -€37,089 | -78.8% |
| Cash at bank and in hand | 54/58 | €133,178 | €164,141 | +€30,963 | +23.2% |
| Deferred charges and accrued income | 490/1 | €121,468 | €114,832 | -€6,636 | -5.5% |
| Total equity and liabilities | 10/49 | €383,184 | €353,018 | -€30,166 | -7.9% |
| Equity | 10/15 | €336,241 | €337,345 | +€1,104 | +0.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €277,712 | €277,712 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,994 | €3,994 | = | 0.0% |
| Distributable reserves | 133 | €273,718 | €273,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,129 | €47,233 | +€1,104 | +2.4% |
| Amounts payable | 17/49 | €46,943 | €15,673 | -€31,270 | -66.6% |
| Amounts payable within one year | 42/48 | €46,943 | €15,673 | -€31,270 | -66.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,295 | +€3,295 | |
| Trade debts | 44 | €25,477 | €7,751 | -€17,726 | -69.6% |
| Suppliers | 440/4 | €25,477 | €7,751 | -€17,726 | -69.6% |
| Taxes, remuneration and social security | 45 | €1,050 | €3,697 | +€2,647 | +252.1% |
| Taxes | 450/3 | €1,050 | €3,697 | +€2,647 | +252.1% |
| Other amounts payable | 47/48 | €20,416 | €930 | -€19,486 | -95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,225 | €25,003 | +€778 | +3.2% |
| Other operating charges | 640/8 | €1,282 | €586 | -€696 | -54.3% |
| Gross operating margin | 9900 | €34,277 | €57,635 | +€23,358 | +68.1% |
| Operating profit (loss) | 9901 | €8,770 | €32,046 | +€23,276 | +265.4% |
| Financial income | 75/76B | €1,873 | - | -€1,873 | |
| Recurring financial income | 75 | €1,873 | - | -€1,873 | |
| Financial charges | 65/66B | €1,295 | €153 | -€1,142 | -88.2% |
| Recurring financial charges | 65 | €1,295 | €153 | -€1,142 | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €9,348 | €31,893 | +€22,545 | +241.2% |
| Income taxes | 67/77 | €7,087 | €30,789 | +€23,702 | +334.4% |
| Profit (loss) for the period | 9904 | €2,261 | €1,104 | -€1,157 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,261 | €1,104 | -€1,157 | -51.2% |
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 9 October 2026 via checked.be.