VDPLH: 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.
VDPLH
Largest movements
- Receivables within one year -€164,419
down €164,419 (-98.3%), from €167,215 to €2,797
of which Trade receivables: -€162,674
- Tangible fixed assets -€42,473
down €42,473 (-23.5%), from €180,765 to €138,292
of which Other tangible fixed assets: -€39,161
- Cash -€6,144
down €6,144 (-96.7%), from €6,356 to €212
mainly Trade debts (-€110,146) and Net result for the year (-€84,413)
- Trade debts -€110,146
down €110,146 (-92.0%), from €119,743 to €9,597
- Profit (loss) carried forward -€84,413
down €84,413, from €66,899 to -€17,514
- Current portion of long-term debt -€8,407
down €8,407 (-82.8%), from €10,150 to €1,743
- Other debts -€3,754
down €3,754 (-36.9%), from €10,180 to €6,426
- Investment grants -€3,664
down €3,664 (-25.0%), from €14,655 to €10,991
- Gross operating margin -€111,665
down €111,665 (-51.7%), from €216,048 to €104,383
- Staff costs +€8,477
up €8,477 (+6.4%), from €132,620 to €141,097
- Other operating charges -€3,441
down €3,441 (-97.2%), from €3,541 to €100
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €366,167 | €153,577 | -€212,590 | -58.1% |
| Fixed assets | 21/28 | €181,208 | €138,705 | -€42,503 | -23.5% |
| Tangible fixed assets | 22/27 | €180,765 | €138,292 | -€42,473 | -23.5% |
| Plant, machinery and equipment | 23 | €16,539 | €12,404 | -€4,135 | -25.0% |
| Furniture and vehicles | 24 | €1,418 | €2,240 | +€823 | +58.0% |
| Other tangible fixed assets | 26 | €162,808 | €123,648 | -€39,161 | -24.1% |
| Financial fixed assets | 28 | €443 | €413 | -€30 | -6.8% |
| Current assets | 29/58 | €184,959 | €14,872 | -€170,087 | -92.0% |
| Stocks and contracts in progress | 3 | €9,955 | €11,863 | +€1,908 | +19.2% |
| Stocks | 30/36 | €9,955 | €11,863 | +€1,908 | +19.2% |
| Amounts receivable within one year | 40/41 | €167,215 | €2,797 | -€164,419 | -98.3% |
| Trade receivables | 40 | €165,471 | €2,797 | -€162,674 | -98.3% |
| Other amounts receivable | 41 | €1,744 | - | -€1,744 | |
| Cash at bank and in hand | 54/58 | €6,356 | €212 | -€6,144 | -96.7% |
| Deferred charges and accrued income | 490/1 | €1,433 | - | -€1,433 | |
| Total equity and liabilities | 10/49 | €366,167 | €153,577 | -€212,590 | -58.1% |
| Equity | 10/15 | €181,554 | €93,477 | -€88,077 | -48.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,899 | -€17,514 | -€84,413 | |
| Investment grants | 15 | €14,655 | €10,991 | -€3,664 | -25.0% |
| Provisions and deferred taxes | 16 | €3,664 | €2,748 | -€916 | -25.0% |
| Deferred taxes | 168 | €3,664 | €2,748 | -€916 | -25.0% |
| Amounts payable | 17/49 | €180,949 | €57,352 | -€123,597 | -68.3% |
| Amounts payable after more than one year | 17 | €1,918 | - | -€1,918 | |
| Financial debts | 170/4 | €1,918 | - | -€1,918 | |
| Amounts payable within one year | 42/48 | €179,031 | €57,352 | -€121,679 | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €10,150 | €1,743 | -€8,407 | -82.8% |
| Financial debts | 43 | - | €1,329 | +€1,329 | |
| Credit institutions | 430/8 | - | €1,329 | +€1,329 | |
| Trade debts | 44 | €119,743 | €9,597 | -€110,146 | -92.0% |
| Suppliers | 440/4 | €119,743 | €9,597 | -€110,146 | -92.0% |
| Taxes, remuneration and social security | 45 | €38,958 | €38,257 | -€701 | -1.8% |
| Taxes | 450/3 | €21,312 | €20,307 | -€1,005 | -4.7% |
| Remuneration and social security | 454/9 | €17,646 | €17,949 | +€304 | +1.7% |
| Other amounts payable | 47/48 | €10,180 | €6,426 | -€3,754 | -36.9% |
| Remuneration, social security and pensions | 62 | €132,620 | €141,097 | +€8,477 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,312 | €44,075 | -€237 | -0.5% |
| Other operating charges | 640/8 | €3,541 | €100 | -€3,441 | -97.2% |
| Gross operating margin | 9900 | €216,048 | €104,383 | -€111,665 | -51.7% |
| Operating profit (loss) | 9901 | €35,576 | -€80,888 | -€116,464 | |
| Financial income | 75/76B | €3,746 | €3,763 | +€17 | +0.4% |
| Recurring financial income | 75 | €3,746 | €3,763 | +€17 | +0.4% |
| Financial charges | 65/66B | €7,025 | €8,203 | +€1,178 | +16.8% |
| Recurring financial charges | 65 | €7,025 | €8,203 | +€1,178 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €32,296 | -€85,329 | -€117,625 | |
| Transfer from deferred taxes | 780 | €916 | €916 | = | 0.0% |
| Profit (loss) for the period | 9904 | €33,212 | -€84,413 | -€117,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,212 | -€84,413 | -€117,625 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.