VDPK: 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.
VDPK
Largest movements
- Receivables within one year +€41,090
up €41,090 (+74.2%), from €55,388 to €96,478
of which Other amounts receivable: +€30,319
- Tangible fixed assets -€12,056
down €12,056 (-6.1%), from €197,203 to €185,146
of which Furniture and vehicles: -€30,014
- Stocks and contracts +€4,270
up €4,270 (+136.5%), from €3,128 to €7,397
- Reserves +€14,449
up €14,449 (+15.6%), from €92,653 to €107,102
of which Distributable reserves: +€14,449
- Debts after one year +€11,317
up €11,317 (+7.3%), from €155,621 to €166,938
- Trade debts -€10,890
down €10,890 (-22.2%), from €49,164 to €38,274
- Other debts +€7,273
up €7,273 (+33.8%), from €21,518 to €28,791
- Current portion of long-term debt +€5,817
up €5,817 (+17.7%), from €32,866 to €38,683
- Staff costs -€39,762
down €39,762 (-17.9%), from €222,094 to €182,333
- Gross operating margin -€34,037
down €34,037 (-11.6%), from €294,581 to €260,544
- Depreciation +€6,768
up €6,768 (+17.5%), from €38,690 to €45,457
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 | €374,874 | €405,542 | +€30,668 | +8.2% |
| Fixed assets | 21/28 | €209,693 | €197,636 | -€12,056 | -5.7% |
| Tangible fixed assets | 22/27 | €197,203 | €185,146 | -€12,056 | -6.1% |
| Land and buildings | 22 | €108,653 | €98,695 | -€9,958 | -9.2% |
| Plant, machinery and equipment | 23 | €7,445 | €35,361 | +€27,916 | +374.9% |
| Furniture and vehicles | 24 | €81,105 | €51,090 | -€30,014 | -37.0% |
| Financial fixed assets | 28 | €12,490 | €12,490 | = | 0.0% |
| Current assets | 29/58 | €165,181 | €207,906 | +€42,724 | +25.9% |
| Stocks and contracts in progress | 3 | €3,128 | €7,397 | +€4,270 | +136.5% |
| Stocks | 30/36 | €3,128 | €7,397 | +€4,270 | +136.5% |
| Amounts receivable within one year | 40/41 | €55,388 | €96,478 | +€41,090 | +74.2% |
| Trade receivables | 40 | €53,310 | €64,081 | +€10,771 | +20.2% |
| Other amounts receivable | 41 | €2,078 | €32,397 | +€30,319 | +1459.2% |
| Cash at bank and in hand | 54/58 | €105,569 | €103,168 | -€2,401 | -2.3% |
| Deferred charges and accrued income | 490/1 | €1,097 | €863 | -€235 | -21.4% |
| Total equity and liabilities | 10/49 | €374,874 | €405,542 | +€30,668 | +8.2% |
| Equity | 10/15 | €110,853 | €125,302 | +€14,449 | +13.0% |
| Contributions | 10/11 | €18,200 | €18,200 | = | 0.0% |
| Reserves | 13 | €92,653 | €107,102 | +€14,449 | +15.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €92,653 | €107,102 | +€14,449 | +15.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €264,021 | €280,240 | +€16,219 | +6.1% |
| Amounts payable after more than one year | 17 | €155,621 | €166,938 | +€11,317 | +7.3% |
| Financial debts | 170/4 | €155,621 | €166,938 | +€11,317 | +7.3% |
| Amounts payable within one year | 42/48 | €108,399 | €113,128 | +€4,728 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €32,866 | €38,683 | +€5,817 | +17.7% |
| Trade debts | 44 | €49,164 | €38,274 | -€10,890 | -22.2% |
| Suppliers | 440/4 | €49,164 | €38,274 | -€10,890 | -22.2% |
| Taxes, remuneration and social security | 45 | €4,852 | €7,380 | +€2,528 | +52.1% |
| Taxes | 450/3 | €142 | €3,386 | +€3,244 | +2290.4% |
| Remuneration and social security | 454/9 | €4,710 | €3,994 | -€716 | -15.2% |
| Other amounts payable | 47/48 | €21,518 | €28,791 | +€7,273 | +33.8% |
| Accrued charges and deferred income | 492/3 | €0 | €174 | +€174 | |
| Non-recurring operating income | 76A | €7,978 | €0 | -€7,978 | -100.0% |
| Remuneration, social security and pensions | 62 | €222,094 | €182,333 | -€39,762 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,690 | €45,457 | +€6,768 | +17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,910 | €6,769 | +€2,859 | +73.1% |
| Gross operating margin | 9900 | €294,581 | €260,544 | -€34,037 | -11.6% |
| Operating profit (loss) | 9901 | €29,887 | €25,984 | -€3,903 | -13.1% |
| Financial income | 75/76B | €16 | €213 | +€197 | +1232.7% |
| Recurring financial income | 75 | €16 | €213 | +€197 | +1232.7% |
| Financial charges | 65/66B | €4,720 | €4,284 | -€435 | -9.2% |
| Recurring financial charges | 65 | €4,720 | €4,284 | -€435 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €25,183 | €21,913 | -€3,270 | -13.0% |
| Income taxes | 67/77 | €7,442 | €6,631 | -€811 | -10.9% |
| Profit (loss) for the period | 9904 | €17,741 | €15,282 | -€2,459 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,741 | €15,282 | -€2,459 | -13.9% |
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 8 October 2026 via checked.be.