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
- Cash -€175,699
down €175,699 (-77.6%), from €226,411 to €50,711
mainly Other debts (-€165,968) and Debts after one year (-€141,869)
- Receivables after one year -€59,250
down €59,250 (-100%), from €59,250 to €0
- Tangible fixed assets -€51,285
down €51,285 (-6.7%), from €769,358 to €718,073
of which Land and buildings: -€44,225
- Receivables within one year +€50,679
up €50,679 (+47.8%), from €106,121 to €156,800
of which Other amounts receivable: +€120,732
- Other debts -€165,968
down €165,968 (-99.1%), from €167,468 to €1,500
- Debts after one year -€141,869
down €141,869 (-22.0%), from €645,372 to €503,503
- Reserves +€52,975
up €52,975 (+62.8%), from €84,416 to €137,391
of which Distributable reserves: +€52,975
- Trade debts -€34,991
down €34,991 (-92.1%), from €38,004 to €3,014
- Tax, wage and social debts +€28,622
up €28,622 (+147%), from €19,532 to €48,155
of which Taxes: +€26,273
- Gross operating margin +€12,575
up €12,575 (+8.4%), from €148,930 to €161,505
- Depreciation -€10,351
down €10,351 (-14.8%), from €70,074 to €59,723
- Other operating charges -€7,723
down €7,723 (-51.6%), from €14,977 to €7,255
- Taxes +€7,295
up €7,295 (+43.9%), from €16,612 to €23,906
- Financial charges +€4,133
up €4,133 (+30.6%), from €13,513 to €17,646
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 | €1,167,778 | €928,392 | -€239,386 | -20.5% |
| Fixed assets | 21/28 | €769,358 | €718,073 | -€51,285 | -6.7% |
| Tangible fixed assets | 22/27 | €769,358 | €718,073 | -€51,285 | -6.7% |
| Land and buildings | 22 | €745,895 | €701,670 | -€44,225 | -5.9% |
| Plant, machinery and equipment | 23 | €5,772 | €3,362 | -€2,411 | -41.8% |
| Furniture and vehicles | 24 | €17,691 | €13,042 | -€4,649 | -26.3% |
| Current assets | 29/58 | €398,419 | €210,319 | -€188,100 | -47.2% |
| Amounts receivable after more than one year | 29 | €59,250 | €0 | -€59,250 | -100% |
| Trade receivables | 290 | €59,250 | €0 | -€59,250 | -100% |
| Amounts receivable within one year | 40/41 | €106,121 | €156,800 | +€50,679 | +47.8% |
| Trade receivables | 40 | €83,684 | €13,631 | -€70,053 | -83.7% |
| Other amounts receivable | 41 | €22,437 | €143,169 | +€120,732 | +538% |
| Cash at bank and in hand | 54/58 | €226,411 | €50,711 | -€175,699 | -77.6% |
| Deferred charges and accrued income | 490/1 | €6,638 | €2,808 | -€3,830 | -57.7% |
| Total equity and liabilities | 10/49 | €1,167,778 | €928,392 | -€239,386 | -20.5% |
| Equity | 10/15 | €193,962 | €246,937 | +€52,975 | +27.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €84,416 | €137,391 | +€52,975 | +62.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €82,416 | €135,391 | +€52,975 | +64.3% |
| Profit (loss) carried forward | 14 | €97,046 | €97,046 | = | 0.0% |
| Amounts payable | 17/49 | €973,815 | €681,455 | -€292,360 | -30.0% |
| Amounts payable after more than one year | 17 | €645,372 | €503,503 | -€141,869 | -22.0% |
| Financial debts | 170/4 | €645,372 | €503,503 | -€141,869 | -22.0% |
| Amounts payable within one year | 42/48 | €265,000 | €114,109 | -€150,892 | -56.9% |
| Current portion of amounts payable after more than one year | 42 | €39,996 | €61,440 | +€21,444 | +53.6% |
| Trade debts | 44 | €38,004 | €3,014 | -€34,991 | -92.1% |
| Suppliers | 440/4 | €38,004 | €3,014 | -€34,991 | -92.1% |
| Taxes, remuneration and social security | 45 | €19,532 | €48,155 | +€28,622 | +147% |
| Taxes | 450/3 | €17,069 | €43,342 | +€26,273 | +154% |
| Remuneration and social security | 454/9 | €2,464 | €4,813 | +€2,350 | +95.4% |
| Other amounts payable | 47/48 | €167,468 | €1,500 | -€165,968 | -99.1% |
| Accrued charges and deferred income | 492/3 | €63,443 | €63,843 | +€400 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,074 | €59,723 | -€10,351 | -14.8% |
| Other operating charges | 640/8 | €14,977 | €7,255 | -€7,723 | -51.6% |
| Gross operating margin | 9900 | €148,930 | €161,505 | +€12,575 | +8.4% |
| Operating profit (loss) | 9901 | €63,879 | €94,527 | +€30,648 | +48.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.0% |
| Financial charges | 65/66B | €13,513 | €17,646 | +€4,133 | +30.6% |
| Recurring financial charges | 65 | €13,513 | €17,646 | +€4,133 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €50,366 | €76,881 | +€26,515 | +52.6% |
| Income taxes | 67/77 | €16,612 | €23,906 | +€7,295 | +43.9% |
| Profit (loss) for the period | 9904 | €33,755 | €52,975 | +€19,220 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,755 | €52,975 | +€19,220 | +56.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.