VDP Management: 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 Management
Largest movements
- Current investments -€40,000
down €40,000 (-28.6%), from €140,000 to €100,000
- Cash +€32,210
up €32,210 (+51.6%), from €62,449 to €94,659
mainly Net result for the year (+€191,950) and Current investments (+€40,000)
- Receivables within one year +€2,299
up €2,299 (+10.4%), from €22,059 to €24,358
of which Other amounts receivable: +€1,300
- Other debts -€6,870
down €6,870 (-3.5%), from €198,820 to €191,950
- Gross operating margin -€37,647
down €37,647 (-13.9%), from €271,408 to €233,760
- Staff costs -€32,329
down €32,329 (-99.6%), from €32,446 to €118
- Financial income -€3,831
down €3,831 (-21.8%), from €17,574 to €13,743
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 | €228,683 | €221,983 | -€6,700 | -2.9% |
| Fixed assets | 21/28 | €2,495 | €2,495 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €2,495 | €2,495 | = | 0.0% |
| Current assets | 29/58 | €226,188 | €219,488 | -€6,700 | -3.0% |
| Amounts receivable within one year | 40/41 | €22,059 | €24,358 | +€2,299 | +10.4% |
| Trade receivables | 40 | €22,059 | €23,058 | +€999 | +4.5% |
| Other amounts receivable | 41 | - | €1,300 | +€1,300 | |
| Current investments | 50/53 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Cash at bank and in hand | 54/58 | €62,449 | €94,659 | +€32,210 | +51.6% |
| Deferred charges and accrued income | 490/1 | €1,680 | €471 | -€1,209 | -71.9% |
| Total equity and liabilities | 10/49 | €228,683 | €221,983 | -€6,700 | -2.9% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €210,083 | €203,383 | -€6,700 | -3.2% |
| Amounts payable within one year | 42/48 | €209,792 | €203,383 | -€6,410 | -3.1% |
| Trade debts | 44 | €211 | €201 | -€10 | -4.7% |
| Suppliers | 440/4 | €211 | €201 | -€10 | -4.7% |
| Taxes, remuneration and social security | 45 | €10,762 | €11,232 | +€470 | +4.4% |
| Taxes | 450/3 | €10,762 | €11,232 | +€470 | +4.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €198,820 | €191,950 | -€6,870 | -3.5% |
| Accrued charges and deferred income | 492/3 | €291 | €0 | -€291 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €32,446 | €118 | -€32,329 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275 | €0 | -€275 | -100.0% |
| Other operating charges | 640/8 | €893 | €462 | -€431 | -48.3% |
| Gross operating margin | 9900 | €271,408 | €233,760 | -€37,647 | -13.9% |
| Operating profit (loss) | 9901 | €237,793 | €233,180 | -€4,612 | -1.9% |
| Financial income | 75/76B | €17,574 | €13,743 | -€3,831 | -21.8% |
| Recurring financial income | 75 | €17,574 | €13,743 | -€3,831 | -21.8% |
| Financial charges | 65/66B | €885 | €745 | -€140 | -15.8% |
| Recurring financial charges | 65 | €885 | €745 | -€140 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €254,482 | €246,178 | -€8,304 | -3.3% |
| Income taxes | 67/77 | €55,794 | €54,228 | -€1,566 | -2.8% |
| Profit (loss) for the period | 9904 | €198,688 | €191,950 | -€6,738 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €198,688 | €191,950 | -€6,738 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.