VDP & PARTNERS: what changed
Two fiscal 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 & PARTNERS
Largest movements
- Cash -€90,379
down €90,379 (-23.3%), from €387,826 to €297,446
mainly Receivables within one year (-€59,360) and Debts after one year (-€29,977)
- Receivables within one year +€59,360
up €59,360 (+9275.0%), from €640 to €60,000
of which Other amounts receivable: +€59,360
- Debts after one year -€29,977
down €29,977 (-7.2%), from €416,509 to €386,532
- Gross operating margin +€522
up €522 (+13.3%), from -€3,924 to -€3,402
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 | €441,710 | €407,194 | -€34,517 | -7.8% |
| Fixed assets | 21/28 | €261 | €0 | -€261 | -100.0% |
| Tangible fixed assets | 22/27 | €261 | €0 | -€261 | -100.0% |
| Other tangible fixed assets | 26 | €261 | €0 | -€261 | -100.0% |
| Current assets | 29/58 | €441,449 | €407,194 | -€34,255 | -7.8% |
| Stocks and contracts in progress | 3 | €52,983 | €49,747 | -€3,236 | -6.1% |
| Stocks | 30/36 | €52,983 | €49,747 | -€3,236 | -6.1% |
| Amounts receivable within one year | 40/41 | €640 | €60,000 | +€59,360 | +9275.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €640 | €60,000 | +€59,360 | +9275.0% |
| Cash at bank and in hand | 54/58 | €387,826 | €297,446 | -€90,379 | -23.3% |
| Total equity and liabilities | 10/49 | €441,710 | €407,194 | -€34,517 | -7.8% |
| Equity | 10/15 | €24,587 | €20,661 | -€3,926 | -16.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €21,121 | €21,121 | = | 0.0% |
| 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 | €19,121 | €19,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,534 | -€20,460 | -€3,926 | -23.7% |
| Amounts payable | 17/49 | €417,123 | €386,532 | -€30,591 | -7.3% |
| Amounts payable after more than one year | 17 | €416,509 | €386,532 | -€29,977 | -7.2% |
| Financial debts | 170/4 | €416,509 | €386,532 | -€29,977 | -7.2% |
| Amounts payable within one year | 42/48 | €614 | €0 | -€614 | -100.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €614 | €0 | -€614 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300 | €261 | -€39 | -12.8% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | -€3,924 | -€3,402 | +€522 | +13.3% |
| Operating profit (loss) | 9901 | -€4,364 | -€3,807 | +€557 | +12.8% |
| Financial charges | 65/66B | €113 | €119 | +€6 | +5.3% |
| Recurring financial charges | 65 | €113 | €119 | +€6 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,477 | -€3,926 | +€551 | +12.3% |
| Profit (loss) for the period | 9904 | -€4,477 | -€3,926 | +€551 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,477 | -€3,926 | +€551 | +12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.