Vdp Law: 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 Law
Largest movements
- Cash +€60,978
up €60,978 (+83.8%), from €72,774 to €133,752
mainly Net result for the year (+€56,828) and Receivables within one year (+€4,229)
- Receivables within one year -€4,229
down €4,229 (-12.0%), from €35,156 to €30,927
- Profit (loss) carried forward +€56,828
up €56,828 (+56.8%), from €100,023 to €156,851
- Gross operating margin -€8,467
down €8,467 (-10.5%), from €80,286 to €71,819
- Taxes -€1,792
down €1,792 (-10.8%), from €16,629 to €14,837
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 | €108,295 | €165,060 | +€56,765 | +52.4% |
| Current assets | 29/58 | €108,295 | €165,060 | +€56,765 | +52.4% |
| Amounts receivable within one year | 40/41 | €35,156 | €30,927 | -€4,229 | -12.0% |
| Trade receivables | 40 | €35,156 | €30,927 | -€4,229 | -12.0% |
| Cash at bank and in hand | 54/58 | €72,774 | €133,752 | +€60,978 | +83.8% |
| Deferred charges and accrued income | 490/1 | €365 | €381 | +€16 | +4.4% |
| Total equity and liabilities | 10/49 | €108,295 | €165,060 | +€56,765 | +52.4% |
| Equity | 10/15 | €100,024 | €156,852 | +€56,828 | +56.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,023 | €156,851 | +€56,828 | +56.8% |
| Amounts payable | 17/49 | €8,271 | €8,208 | -€63 | -0.8% |
| Amounts payable within one year | 42/48 | €8,271 | €8,208 | -€63 | -0.8% |
| Trade debts | 44 | €383 | €344 | -€39 | -10.2% |
| Suppliers | 440/4 | €383 | €344 | -€39 | -10.2% |
| Taxes, remuneration and social security | 45 | €7,053 | €7,864 | +€811 | +11.5% |
| Taxes | 450/3 | €7,053 | €7,864 | +€811 | +11.5% |
| Other amounts payable | 47/48 | €835 | - | -€835 | |
| Other operating charges | 640/8 | €591 | €611 | +€20 | +3.4% |
| Gross operating margin | 9900 | €80,286 | €71,819 | -€8,467 | -10.5% |
| Operating profit (loss) | 9901 | €79,695 | €71,208 | -€8,487 | -10.6% |
| Financial income | 75/76B | €299 | €500 | +€201 | +67.2% |
| Recurring financial income | 75 | €299 | €500 | +€201 | +67.2% |
| Financial charges | 65/66B | €22 | €43 | +€21 | +95.5% |
| Recurring financial charges | 65 | €22 | €43 | +€21 | +95.5% |
| Profit (loss) for the period before taxes | 9903 | €79,972 | €71,665 | -€8,307 | -10.4% |
| Income taxes | 67/77 | €16,629 | €14,837 | -€1,792 | -10.8% |
| Profit (loss) for the period | 9904 | €63,343 | €56,828 | -€6,515 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,343 | €56,828 | -€6,515 | -10.3% |
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 11 October 2026 via checked.be.