VDP MEKA: 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 MEKA
Largest movements
- Receivables within one year +€259,605
up €259,605 (+224.4%), from €115,710 to €375,315
of which Trade receivables: +€253,215
- Stocks and contracts +€114,521
up €114,521 (+73.0%), from €156,832 to €271,353
- Cash -€23,743
down €23,743 (-14.5%), from €163,754 to €140,010
mainly Receivables within one year (-€259,605) and Stocks and contracts (-€114,521)
- Trade debts +€199,833
up €199,833 (+204.7%), from €97,620 to €297,453
- Current portion of long-term debt +€151,459
up €151,459 (+68.5%), from €221,204 to €372,663
- Debts after one year -€20,457
down €20,457 (-36.4%), from €56,222 to €35,766
- Profit (loss) carried forward +€13,357
new in 2025: €13,357
- Tax, wage and social debts +€12,245
up €12,245 (+21.9%), from €55,828 to €68,074
of which Taxes: +€11,591
- Gross operating margin -€26,591
down €26,591 (-11.1%), from €239,796 to €213,204
- Taxes -€10,367
down €10,367 (-74.2%), from €13,977 to €3,610
- Staff costs +€4,585
up €4,585 (+3.9%), from €118,433 to €123,018
- Depreciation +€2,728
up €2,728 (+5.0%), from €54,086 to €56,814
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 | €635,624 | €985,893 | +€350,269 | +55.1% |
| Fixed assets | 21/28 | €196,680 | €196,268 | -€412 | -0.2% |
| Intangible fixed assets | 21 | €602 | - | -€602 | |
| Tangible fixed assets | 22/27 | €194,875 | €195,065 | +€189 | +0.1% |
| Plant, machinery and equipment | 23 | €34,379 | €25,846 | -€8,533 | -24.8% |
| Furniture and vehicles | 24 | €88,834 | €115,512 | +€26,678 | +30.0% |
| Leasing and similar rights | 25 | €22,511 | €16,146 | -€6,364 | -28.3% |
| Other tangible fixed assets | 26 | €49,152 | €37,561 | -€11,591 | -23.6% |
| Financial fixed assets | 28 | €1,203 | €1,203 | = | 0.0% |
| Current assets | 29/58 | €438,945 | €789,626 | +€350,681 | +79.9% |
| Stocks and contracts in progress | 3 | €156,832 | €271,353 | +€114,521 | +73.0% |
| Stocks | 30/36 | €156,832 | €271,353 | +€114,521 | +73.0% |
| Amounts receivable within one year | 40/41 | €115,710 | €375,315 | +€259,605 | +224.4% |
| Trade receivables | 40 | €115,710 | €368,925 | +€253,215 | +218.8% |
| Other amounts receivable | 41 | - | €6,390 | +€6,390 | |
| Cash at bank and in hand | 54/58 | €163,754 | €140,010 | -€23,743 | -14.5% |
| Deferred charges and accrued income | 490/1 | €2,648 | €2,947 | +€299 | +11.3% |
| Total equity and liabilities | 10/49 | €635,624 | €985,893 | +€350,269 | +55.1% |
| Equity | 10/15 | €10,000 | €23,357 | +€13,357 | +133.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €13,357 | +€13,357 | |
| Amounts payable | 17/49 | €625,624 | €962,537 | +€336,912 | +53.9% |
| Amounts payable after more than one year | 17 | €56,222 | €35,766 | -€20,457 | -36.4% |
| Financial debts | 170/4 | €56,222 | €35,766 | -€20,457 | -36.4% |
| Amounts payable within one year | 42/48 | €569,402 | €926,771 | +€357,369 | +62.8% |
| Current portion of amounts payable after more than one year | 42 | €221,204 | €372,663 | +€151,459 | +68.5% |
| Trade debts | 44 | €97,620 | €297,453 | +€199,833 | +204.7% |
| Suppliers | 440/4 | €97,620 | €297,453 | +€199,833 | +204.7% |
| Taxes, remuneration and social security | 45 | €55,828 | €68,074 | +€12,245 | +21.9% |
| Taxes | 450/3 | €32,685 | €44,276 | +€11,591 | +35.5% |
| Remuneration and social security | 454/9 | €23,143 | €23,798 | +€655 | +2.8% |
| Other amounts payable | 47/48 | €194,750 | €188,582 | -€6,168 | -3.2% |
| Remuneration, social security and pensions | 62 | €118,433 | €123,018 | +€4,585 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,086 | €56,814 | +€2,728 | +5.0% |
| Other operating charges | 640/8 | €1,175 | €962 | -€213 | -18.1% |
| Non-recurring operating charges | 66A | €80 | - | -€80 | |
| Gross operating margin | 9900 | €239,796 | €213,204 | -€26,591 | -11.1% |
| Operating profit (loss) | 9901 | €66,022 | €32,411 | -€33,612 | -50.9% |
| Financial income | 75/76B | €2 | €0 | -€2 | -82.8% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -82.8% |
| Financial charges | 65/66B | €17,345 | €15,445 | -€1,901 | -11.0% |
| Recurring financial charges | 65 | €17,345 | €15,445 | -€1,901 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €48,679 | €16,966 | -€31,713 | -65.1% |
| Income taxes | 67/77 | €13,977 | €3,610 | -€10,367 | -74.2% |
| Profit (loss) for the period | 9904 | €34,702 | €13,357 | -€21,346 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,702 | €13,357 | -€21,346 | -61.5% |
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 12 October 2026 via checked.be.