VDP Heating: what changed
Two fiscal 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.
VDP Heating
Largest movements
- Cash +€16,587
up €16,587 (+102.5%), from €16,188 to €32,775
mainly Net result for the year (+€14,174) and Receivables within one year (+€5,900)
- Receivables within one year -€5,900
down €5,900 (-66.3%), from €8,900 to €2,999
of which Other amounts receivable: -€2,973
- Tangible fixed assets -€3,907
down €3,907 (-21.1%), from €18,543 to €14,636
of which Furniture and vehicles: -€3,141
- Formation expenses -€604
no longer reported in 2024 (was €604)
- Reserves +€14,174
up €14,174 (+92.4%), from €15,340 to €29,513
- Debts after one year -€3,767
down €3,767 (-30.2%), from €12,492 to €8,725
- Tax, wage and social debts -€2,991
down €2,991 (-70.3%), from €4,257 to €1,266
- Other debts -€729
down €729 (-13.6%), from €5,370 to €4,641
- Depreciation +€2,914
up €2,914 (+182.5%), from €1,597 to €4,511
- Gross operating margin +€1,822
up €1,822 (+8.4%), from €21,724 to €23,546
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,762 | €52,520 | +€6,758 | +14.8% |
| Formation expenses | 20 | €604 | - | -€604 | |
| Fixed assets | 21/28 | €18,543 | €14,636 | -€3,907 | -21.1% |
| Tangible fixed assets | 22/27 | €18,543 | €14,636 | -€3,907 | -21.1% |
| Plant, machinery and equipment | 23 | €3,638 | €2,872 | -€767 | -21.1% |
| Furniture and vehicles | 24 | €14,905 | €11,765 | -€3,141 | -21.1% |
| Current assets | 29/58 | €26,615 | €37,884 | +€11,269 | +42.3% |
| Stocks and contracts in progress | 3 | - | €500 | +€500 | |
| Stocks | 30/36 | - | €500 | +€500 | |
| Amounts receivable within one year | 40/41 | €8,900 | €2,999 | -€5,900 | -66.3% |
| Trade receivables | 40 | €5,927 | €2,999 | -€2,928 | -49.4% |
| Other amounts receivable | 41 | €2,973 | - | -€2,973 | |
| Cash at bank and in hand | 54/58 | €16,188 | €32,775 | +€16,587 | +102.5% |
| Deferred charges and accrued income | 490/1 | €1,527 | €1,610 | +€83 | +5.5% |
| Total equity and liabilities | 10/49 | €45,762 | €52,520 | +€6,758 | +14.8% |
| Equity | 10/15 | €17,340 | €31,513 | +€14,174 | +81.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €15,340 | €29,513 | +€14,174 | +92.4% |
| Distributable reserves | 133 | €15,340 | €29,513 | +€14,174 | +92.4% |
| Amounts payable | 17/49 | €28,422 | €21,007 | -€7,415 | -26.1% |
| Amounts payable after more than one year | 17 | €12,492 | €8,725 | -€3,767 | -30.2% |
| Financial debts | 170/4 | €12,492 | €8,725 | -€3,767 | -30.2% |
| Amounts payable within one year | 42/48 | €15,930 | €12,282 | -€3,648 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €3,612 | €3,767 | +€155 | +4.3% |
| Trade debts | 44 | €2,691 | €2,608 | -€83 | -3.1% |
| Suppliers | 440/4 | €2,691 | €2,608 | -€83 | -3.1% |
| Taxes, remuneration and social security | 45 | €4,257 | €1,266 | -€2,991 | -70.3% |
| Taxes | 450/3 | €4,257 | €1,266 | -€2,991 | -70.3% |
| Other amounts payable | 47/48 | €5,370 | €4,641 | -€729 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,597 | €4,511 | +€2,914 | +182.5% |
| Other operating charges | 640/8 | €154 | €159 | +€5 | +3.1% |
| Gross operating margin | 9900 | €21,724 | €23,546 | +€1,822 | +8.4% |
| Operating profit (loss) | 9901 | €19,972 | €18,876 | -€1,096 | -5.5% |
| Financial charges | 65/66B | €462 | €645 | +€184 | +39.8% |
| Recurring financial charges | 65 | €462 | €645 | +€184 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €19,511 | €18,231 | -€1,280 | -6.6% |
| Income taxes | 67/77 | €4,171 | €4,057 | -€114 | -2.7% |
| Profit (loss) for the period | 9904 | €15,340 | €14,174 | -€1,166 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,340 | €14,174 | -€1,166 | -7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.