VDPR 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.
VDPR Management
Largest movements
- Cash -€73,621
down €73,621 (-48.9%), from €150,445 to €76,823
mainly Contributions, distributions and other (-€238,392) and Tax, wage and social debts (-€4,708)
- Current investments -€25,000
down €25,000 (-33.3%), from €75,000 to €50,000
- Tangible fixed assets -€13,351
down €13,351 (-26.0%), from €51,406 to €38,055
- Reserves -€109,619
down €109,619 (-39.5%), from €277,787 to €168,168
- Tax, wage and social debts -€4,708
down €4,708 (-33.8%), from €13,924 to €9,216
No income-statement line moved by more than 1% of the activity.
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 | €297,242 | €182,851 | -€114,391 | -38.5% |
| Fixed assets | 21/28 | €51,406 | €38,055 | -€13,351 | -26.0% |
| Tangible fixed assets | 22/27 | €51,406 | €38,055 | -€13,351 | -26.0% |
| Furniture and vehicles | 24 | €51,406 | €38,055 | -€13,351 | -26.0% |
| Current assets | 29/58 | €245,835 | €144,796 | -€101,040 | -41.1% |
| Amounts receivable within one year | 40/41 | €18,677 | €16,060 | -€2,617 | -14.0% |
| Trade receivables | 40 | €18,677 | €16,060 | -€2,617 | -14.0% |
| Current investments | 50/53 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €150,445 | €76,823 | -€73,621 | -48.9% |
| Deferred charges and accrued income | 490/1 | €1,714 | €1,912 | +€199 | +11.6% |
| Total equity and liabilities | 10/49 | €297,242 | €182,851 | -€114,391 | -38.5% |
| Equity | 10/15 | €282,787 | €173,168 | -€109,619 | -38.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €277,787 | €168,168 | -€109,619 | -39.5% |
| Distributable reserves | 133 | €277,787 | €168,168 | -€109,619 | -39.5% |
| Amounts payable | 17/49 | €14,454 | €9,683 | -€4,771 | -33.0% |
| Amounts payable within one year | 42/48 | €14,454 | €9,683 | -€4,771 | -33.0% |
| Trade debts | 44 | €531 | €467 | -€64 | -12.0% |
| Suppliers | 440/4 | €531 | €467 | -€64 | -12.0% |
| Taxes, remuneration and social security | 45 | €13,924 | €9,216 | -€4,708 | -33.8% |
| Taxes | 450/3 | €13,924 | €9,216 | -€4,708 | -33.8% |
| Non-recurring operating income | 76A | €1,472 | - | -€1,472 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,089 | €13,351 | +€262 | +2.0% |
| Other operating charges | 640/8 | €469 | €479 | +€10 | +2.1% |
| Gross operating margin | 9900 | €175,918 | €176,669 | +€751 | +0.4% |
| Operating profit (loss) | 9901 | €162,360 | €162,839 | +€479 | +0.3% |
| Financial income | 75/76B | €1,652 | €3,032 | +€1,380 | +83.5% |
| Recurring financial income | 75 | €1,652 | €3,032 | +€1,380 | +83.5% |
| Financial charges | 65/66B | €50 | €66 | +€16 | +31.6% |
| Recurring financial charges | 65 | €50 | €66 | +€16 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | €163,961 | €165,804 | +€1,843 | +1.1% |
| Income taxes | 67/77 | €36,689 | €37,032 | +€343 | +0.9% |
| Profit (loss) for the period | 9904 | €127,272 | €128,772 | +€1,500 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €127,272 | €128,772 | +€1,500 | +1.2% |
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 10 October 2026 via checked.be.