VDP-LM: 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.
What changed
VDP-LM
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€27,468
2024 · €377,596-€350,128
Equity
€1.8m
2024 · €1.8m+€27,468
Cash
€26,204
2024 · €6,232+€19,972
Balance sheet total
€4.4m
2024 · €4.5m-€68,925
Largest movements
Assets
- Tangible fixed assets -€114,539
down €114,539 (-3.3%), from €3.5m to €3.4m
of which Land and buildings: -€110,369
Equity and liabilities
- Debts after one year -€88,315
down €88,315 (-6.9%), from €1.3m to €1.2m
Income statement
- Financial income -€381,314
down €381,314 (-92.6%), from €411,702 to €30,388
of which Non-recurring financial income: -€402,535
- Gross operating margin +€22,320
up €22,320 (+17.4%), from €128,004 to €150,325
- Depreciation -€7,395
down €7,395 (-6.1%), from €121,934 to €114,539
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.
Result 2024
€377,596
Gross operating margin
+€22,320
Depreciation
+€7,395
Other operating charges
+€124
Financial income
-€381,314
Financial charges
+€1,359
Taxes
-€12
Result 2025
€27,468
raises the resultlowers the result
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.
From operations
+€106,906
Investment
€0
Financing
-€86,934
Cash 2024
€6,232
From operations (derived)
+€106,906
Net result for the year
+€27,468
Depreciation
+€114,539
Receivables after one year
+€5,000
Deferred charges and accrued income
-€30,641
Trade debts
-€1,704
Tax, wage and social debts
+€570
Other debts
-€8,152
Accrued charges and deferred income
-€173
Financing
-€86,934
Debts after one year
-€88,315
Current portion of long-term debt
+€1,381
Cash 2025
€26,204
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,504,739 | €4,435,814 | -€68,925 | -1.5% |
| Fixed assets | 21/28 | €3,503,100 | €3,388,561 | -€114,539 | -3.3% |
| Tangible fixed assets | 22/27 | €3,503,100 | €3,388,561 | -€114,539 | -3.3% |
| Land and buildings | 22 | €3,489,261 | €3,378,891 | -€110,369 | -3.2% |
| Plant, machinery and equipment | 23 | €13,839 | €9,670 | -€4,169 | -30.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,001,640 | €1,047,253 | +€45,613 | +4.6% |
| Amounts receivable after more than one year | 29 | €932,617 | €927,617 | -€5,000 | -0.5% |
| Other amounts receivable | 291 | €932,617 | €927,617 | -€5,000 | -0.5% |
| Amounts receivable within one year | 40/41 | €15,269 | €15,269 | = | 0.0% |
| Other amounts receivable | 41 | €15,269 | €15,269 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,232 | €26,204 | +€19,972 | +321% |
| Deferred charges and accrued income | 490/1 | €47,523 | €78,163 | +€30,641 | +64.5% |
| Total equity and liabilities | 10/49 | €4,504,739 | €4,435,814 | -€68,925 | -1.5% |
| Equity | 10/15 | €1,792,093 | €1,819,561 | +€27,468 | +1.5% |
| Contributions | 10/11 | €1,543,000 | €1,543,000 | = | 0.0% |
| Reserves | 13 | €16,869 | €16,869 | = | 0.0% |
| Distributable reserves | 133 | €16,869 | €16,869 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,224 | €259,692 | +€27,468 | +11.8% |
| Amounts payable | 17/49 | €2,712,646 | €2,616,253 | -€96,393 | -3.6% |
| Amounts payable after more than one year | 17 | €1,271,147 | €1,182,833 | -€88,315 | -6.9% |
| Financial debts | 170/4 | €1,271,147 | €1,182,833 | -€88,315 | -6.9% |
| Amounts payable within one year | 42/48 | €1,437,458 | €1,429,552 | -€7,905 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €86,934 | €88,315 | +€1,381 | +1.6% |
| Trade debts | 44 | €26,845 | €25,141 | -€1,704 | -6.3% |
| Suppliers | 440/4 | €26,845 | €25,141 | -€1,704 | -6.3% |
| Taxes, remuneration and social security | 45 | €558 | €1,127 | +€570 | +102% |
| Taxes | 450/3 | €558 | €1,127 | +€570 | +102% |
| Other amounts payable | 47/48 | €1,323,122 | €1,314,969 | -€8,152 | -0.6% |
| Accrued charges and deferred income | 492/3 | €4,041 | €3,868 | -€173 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,934 | €114,539 | -€7,395 | -6.1% |
| Other operating charges | 640/8 | €16,627 | €16,503 | -€124 | -0.7% |
| Gross operating margin | 9900 | €128,004 | €150,325 | +€22,320 | +17.4% |
| Operating profit (loss) | 9901 | -€10,557 | €19,283 | +€29,840 | |
| Financial income | 75/76B | €411,702 | €30,388 | -€381,314 | -92.6% |
| Recurring financial income | 75 | €9,167 | €30,388 | +€21,221 | +232% |
| Non-recurring financial income | 76B | €402,535 | €0 | -€402,535 | -100% |
| Financial charges | 65/66B | €22,992 | €21,633 | -€1,359 | -5.9% |
| Recurring financial charges | 65 | €22,992 | €21,633 | -€1,359 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €378,153 | €28,038 | -€350,116 | -92.6% |
| Income taxes | 67/77 | €558 | €570 | +€12 | +2.2% |
| Profit (loss) for the period | 9904 | €377,596 | €27,468 | -€350,128 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €377,596 | €27,468 | -€350,128 | -92.7% |
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 17 October 2026 via checked.be.