VDPK 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.
VDPK MANAGEMENT
Largest movements
- Receivables within one year -€27,220
down €27,220 (-38.9%), from €70,012 to €42,792
of which Trade receivables: -€23,318
- Tangible fixed assets -€10,250
down €10,250 (-3.6%), from €283,556 to €273,306
of which Land and buildings: -€7,841
- Cash +€5,658
up €5,658 (+95.5%), from €5,922 to €11,580
mainly Receivables within one year (+€27,220) and Depreciation (+€10,250)
- Trade debts -€20,731
down €20,731 (-96.9%), from €21,388 to €657
- Other debts -€10,114
down €10,114 (-3.0%), from €334,794 to €324,680
- Tax, wage and social debts -€9,730
down €9,730 (-36.2%), from €26,886 to €17,156
- Profit (loss) carried forward +€8,124
up €8,124 (+42.2%), from €19,270 to €27,394
- Other operating charges -€4,716
down €4,716 (-82.1%), from €5,746 to €1,030
- Gross operating margin +€2,150
up €2,150 (+6.6%), from €32,365 to €34,515
- Taxes +€1,130
up €1,130 (+34.6%), from €3,268 to €4,398
- Financial income +€943
up €943 (+150%), from €628 to €1,570
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 | €407,338 | €374,888 | -€32,451 | -8.0% |
| Fixed assets | 21/28 | €283,556 | €273,306 | -€10,250 | -3.6% |
| Tangible fixed assets | 22/27 | €283,556 | €273,306 | -€10,250 | -3.6% |
| Land and buildings | 22 | €275,564 | €267,723 | -€7,841 | -2.8% |
| Furniture and vehicles | 24 | €7,991 | €5,583 | -€2,409 | -30.1% |
| Current assets | 29/58 | €123,783 | €101,582 | -€22,201 | -17.9% |
| Amounts receivable after more than one year | 29 | €47,000 | €47,000 | = | 0.0% |
| Other amounts receivable | 291 | €47,000 | €47,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €70,012 | €42,792 | -€27,220 | -38.9% |
| Trade receivables | 40 | €49,665 | €26,347 | -€23,318 | -47.0% |
| Other amounts receivable | 41 | €20,347 | €16,445 | -€3,902 | -19.2% |
| Cash at bank and in hand | 54/58 | €5,922 | €11,580 | +€5,658 | +95.5% |
| Deferred charges and accrued income | 490/1 | €849 | €209 | -€639 | -75.3% |
| Total equity and liabilities | 10/49 | €407,338 | €374,888 | -€32,451 | -8.0% |
| Equity | 10/15 | €24,270 | €32,394 | +€8,124 | +33.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,270 | €27,394 | +€8,124 | +42.2% |
| Amounts payable | 17/49 | €383,068 | €342,493 | -€40,575 | -10.6% |
| Amounts payable within one year | 42/48 | €383,068 | €342,493 | -€40,575 | -10.6% |
| Trade debts | 44 | €21,388 | €657 | -€20,731 | -96.9% |
| Suppliers | 440/4 | €21,388 | €657 | -€20,731 | -96.9% |
| Taxes, remuneration and social security | 45 | €26,886 | €17,156 | -€9,730 | -36.2% |
| Taxes | 450/3 | €26,886 | €17,156 | -€9,730 | -36.2% |
| Other amounts payable | 47/48 | €334,794 | €324,680 | -€10,114 | -3.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,250 | €10,250 | = | 0.0% |
| Other operating charges | 640/8 | €5,746 | €1,030 | -€4,716 | -82.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €32,365 | €34,515 | +€2,150 | +6.6% |
| Operating profit (loss) | 9901 | €16,369 | €23,235 | +€6,866 | +41.9% |
| Financial income | 75/76B | €628 | €1,570 | +€943 | +150% |
| Recurring financial income | 75 | €628 | €1,570 | +€943 | +150% |
| Financial charges | 65/66B | €11,942 | €12,283 | +€341 | +2.9% |
| Recurring financial charges | 65 | €11,942 | €12,283 | +€341 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €5,054 | €12,522 | +€7,468 | +148% |
| Income taxes | 67/77 | €3,268 | €4,398 | +€1,130 | +34.6% |
| Profit (loss) for the period | 9904 | €1,786 | €8,124 | +€6,338 | +355% |
| Profit (loss) for the period to be appropriated | 9905 | €1,786 | €8,124 | +€6,338 | +355% |
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 19 October 2026 via checked.be.