VDP ICECUBES: 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.
VDP ICECUBES
Largest movements
- Intangible fixed assets -€31,500
down €31,500 (-12.5%), from €252,000 to €220,500
- Receivables within one year +€27,767
up €27,767 (+17.2%), from €161,879 to €189,646
of which Trade receivables: +€29,195
- Cash +€26,630
up €26,630 (+22.4%), from €118,858 to €145,489
mainly Depreciation (+€104,469) and Trade debts (+€44,507)
- Debts after one year -€46,302
down €46,302 (-14.1%), from €329,318 to €283,016
- Trade debts +€44,507
up €44,507 (+38.4%), from €115,894 to €160,401
- Current portion of long-term debt +€19,319
up €19,319 (+24.1%), from €80,310 to €99,629
- Reserves +€16,000
up €16,000 (+19.5%), from €82,000 to €98,000
of which Distributable reserves: +€15,000
- Tax, wage and social debts -€14,621
down €14,621 (-29.4%), from €49,719 to €35,097
of which Taxes: -€10,985
- Staff costs +€37,858
up €37,858 (+22.7%), from €167,005 to €204,863
- Gross operating margin +€34,268
up €34,268 (+10.9%), from €314,142 to €348,410
- Depreciation +€17,099
up €17,099 (+19.6%), from €87,370 to €104,469
- Write-downs -€12,701
no longer reported in 2025 (was €12,701)
- Financial income -€11,501
down €11,501 (-52.5%), from €21,888 to €10,387
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 | €866,041 | €885,518 | +€19,477 | +2.2% |
| Fixed assets | 21/28 | €548,876 | €512,425 | -€36,451 | -6.6% |
| Intangible fixed assets | 21 | €252,000 | €220,500 | -€31,500 | -12.5% |
| Tangible fixed assets | 22/27 | €293,876 | €288,925 | -€4,951 | -1.7% |
| Plant, machinery and equipment | 23 | €105,121 | €92,081 | -€13,040 | -12.4% |
| Furniture and vehicles | 24 | €188,755 | €196,844 | +€8,089 | +4.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €317,165 | €373,093 | +€55,928 | +17.6% |
| Stocks and contracts in progress | 3 | €36,428 | €37,958 | +€1,531 | +4.2% |
| Stocks | 30/36 | €36,428 | €37,958 | +€1,531 | +4.2% |
| Amounts receivable within one year | 40/41 | €161,879 | €189,646 | +€27,767 | +17.2% |
| Trade receivables | 40 | €154,464 | €183,658 | +€29,195 | +18.9% |
| Other amounts receivable | 41 | €7,415 | €5,988 | -€1,427 | -19.2% |
| Cash at bank and in hand | 54/58 | €118,858 | €145,489 | +€26,630 | +22.4% |
| Total equity and liabilities | 10/49 | €866,041 | €885,518 | +€19,477 | +2.2% |
| Equity | 10/15 | €286,055 | €302,630 | +€16,575 | +5.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €82,000 | €98,000 | +€16,000 | +19.5% |
| Non-distributable reserves | 130/1 | €7,000 | €8,000 | +€1,000 | +14.3% |
| Legal reserve | 130 | €7,000 | €8,000 | +€1,000 | +14.3% |
| Distributable reserves | 133 | €75,000 | €90,000 | +€15,000 | +20.0% |
| Profit (loss) carried forward | 14 | €4,055 | €4,630 | +€575 | +14.2% |
| Amounts payable | 17/49 | €579,987 | €582,888 | +€2,902 | +0.5% |
| Amounts payable after more than one year | 17 | €329,318 | €283,016 | -€46,302 | -14.1% |
| Financial debts | 170/4 | €329,318 | €283,016 | -€46,302 | -14.1% |
| Amounts payable within one year | 42/48 | €245,923 | €295,127 | +€49,204 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €80,310 | €99,629 | +€19,319 | +24.1% |
| Trade debts | 44 | €115,894 | €160,401 | +€44,507 | +38.4% |
| Suppliers | 440/4 | €115,894 | €160,401 | +€44,507 | +38.4% |
| Taxes, remuneration and social security | 45 | €49,719 | €35,097 | -€14,621 | -29.4% |
| Taxes | 450/3 | €30,733 | €19,748 | -€10,985 | -35.7% |
| Remuneration and social security | 454/9 | €18,985 | €15,349 | -€3,637 | -19.2% |
| Accrued charges and deferred income | 492/3 | €4,746 | €4,746 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €167,005 | €204,863 | +€37,858 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,370 | €104,469 | +€17,099 | +19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,701 | - | -€12,701 | |
| Other operating charges | 640/8 | €10,415 | €7,340 | -€3,075 | -29.5% |
| Gross operating margin | 9900 | €314,142 | €348,410 | +€34,268 | +10.9% |
| Operating profit (loss) | 9901 | €36,651 | €31,739 | -€4,912 | -13.4% |
| Financial income | 75/76B | €21,888 | €10,387 | -€11,501 | -52.5% |
| Recurring financial income | 75 | €21,888 | €10,387 | -€11,501 | -52.5% |
| Financial charges | 65/66B | €16,697 | €17,105 | +€408 | +2.4% |
| Recurring financial charges | 65 | €16,697 | €17,105 | +€408 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €41,842 | €25,021 | -€16,820 | -40.2% |
| Income taxes | 67/77 | €11,302 | €8,446 | -€2,856 | -25.3% |
| Profit (loss) for the period | 9904 | €30,540 | €16,575 | -€13,965 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,540 | €16,575 | -€13,965 | -45.7% |
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.