VDPACKING: 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.
VDPACKING
Largest movements
- Cash +€65,240
up €65,240 (+67.9%), from €96,106 to €161,345
mainly Net result for the year (+€87,461) and Other debts (+€18,031)
- Current investments +€30,000
up €30,000 (+20.0%), from €150,000 to €180,000
- Reserves +€78,295
up €78,295 (+18.0%), from €435,042 to €513,337
of which Distributable reserves: +€78,295
- Other debts +€18,031
up €18,031 (+28.7%), from €62,868 to €80,899
- Tax, wage and social debts +€10,250
up €10,250 (+382%), from €2,682 to €12,932
of which Taxes: +€11,090
- Gross operating margin +€38,015
up €38,015 (+63.3%), from €60,085 to €98,100
- Financial income +€22,177
up €22,177 (+741%), from €2,994 to €25,171
- Taxes +€11,600
up €11,600 (+75.2%), from €15,430 to €27,030
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 | €515,992 | €620,885 | +€104,893 | +20.3% |
| Fixed assets | 21/28 | €139,574 | €145,277 | +€5,703 | +4.1% |
| Tangible fixed assets | 22/27 | €3,634 | €9,337 | +€5,703 | +157% |
| Plant, machinery and equipment | 23 | €138 | €0 | -€138 | -100% |
| Furniture and vehicles | 24 | €722 | €7,205 | +€6,483 | +898% |
| Other tangible fixed assets | 26 | €2,774 | €2,132 | -€643 | -23.2% |
| Financial fixed assets | 28 | €135,941 | €135,941 | = | 0.0% |
| Current assets | 29/58 | €376,417 | €475,607 | +€99,190 | +26.4% |
| Amounts receivable within one year | 40/41 | €129,955 | €131,828 | +€1,873 | +1.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €129,955 | €131,828 | +€1,873 | +1.4% |
| Current investments | 50/53 | €150,000 | €180,000 | +€30,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €96,106 | €161,345 | +€65,240 | +67.9% |
| Deferred charges and accrued income | 490/1 | €357 | €2,434 | +€2,077 | +583% |
| Total equity and liabilities | 10/49 | €515,992 | €620,885 | +€104,893 | +20.3% |
| Equity | 10/15 | €441,242 | €519,537 | +€78,295 | +17.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €435,042 | €513,337 | +€78,295 | +18.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €6,840 | €6,840 | = | 0.0% |
| Distributable reserves | 133 | €428,202 | €506,497 | +€78,295 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,750 | €101,348 | +€26,598 | +35.6% |
| Amounts payable within one year | 42/48 | €70,151 | €97,041 | +€26,890 | +38.3% |
| Trade debts | 44 | €4,602 | €3,211 | -€1,391 | -30.2% |
| Suppliers | 440/4 | €4,602 | €3,211 | -€1,391 | -30.2% |
| Taxes, remuneration and social security | 45 | €2,682 | €12,932 | +€10,250 | +382% |
| Taxes | 450/3 | €1,842 | €12,932 | +€11,090 | +602% |
| Remuneration and social security | 454/9 | €840 | €0 | -€840 | -100% |
| Other amounts payable | 47/48 | €62,868 | €80,899 | +€18,031 | +28.7% |
| Accrued charges and deferred income | 492/3 | €4,598 | €4,306 | -€292 | -6.3% |
| Non-recurring operating income | 76A | - | €28,835 | +€28,835 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,336 | €1,590 | +€254 | +19.0% |
| Other operating charges | 640/8 | €1,865 | €1,878 | +€13 | +0.7% |
| Gross operating margin | 9900 | €60,085 | €98,100 | +€38,015 | +63.3% |
| Operating profit (loss) | 9901 | €56,884 | €94,632 | +€37,748 | +66.4% |
| Financial income | 75/76B | €2,994 | €25,171 | +€22,177 | +741% |
| Recurring financial income | 75 | €2,994 | €25,171 | +€22,177 | +741% |
| Financial charges | 65/66B | €5,129 | €5,313 | +€185 | +3.6% |
| Recurring financial charges | 65 | €5,129 | €5,313 | +€185 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €54,750 | €114,490 | +€59,741 | +109% |
| Income taxes | 67/77 | €15,430 | €27,030 | +€11,600 | +75.2% |
| Profit (loss) for the period | 9904 | €39,320 | €87,461 | +€48,141 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €39,320 | €87,461 | +€48,141 | +122% |
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 29 October 2026 via checked.be.