VDR Bikes: 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.
VDR Bikes
Largest movements
- Stocks and contracts -€21,835
down €21,835 (-2.5%), from €872,905 to €851,071
- Cash -€19,053
down €19,053 (-33.8%), from €56,406 to €37,353
mainly Debts after one year (-€64,258) and Short-term financial debts (-€27,383)
- Tangible fixed assets -€10,587
down €10,587 (-26.0%), from €40,742 to €30,156
of which Leasing and similar rights: -€5,861
- Debts after one year -€64,258
down €64,258 (-14.5%), from €443,873 to €379,615
- Trade debts +€57,004
up €57,004 (+71.0%), from €80,318 to €137,322
- Short-term financial debts -€27,383
down €27,383 (-15.8%), from €172,941 to €145,558
of which Credit institutions: -€52,941
- Current portion of long-term debt -€12,243
down €12,243 (-16.0%), from €76,501 to €64,258
- Gross operating margin +€59,421
up €59,421 (+39.1%), from €151,971 to €211,392
- Purchases and services -€28,481
down €28,481 (-2.1%), from €1.4m to €1.3m
- Turnover +€24,506
up €24,506 (+1.6%), from €1.5m to €1.5m
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 | €1,045,775 | €992,206 | -€53,569 | -5.1% |
| Fixed assets | 21/28 | €40,772 | €30,186 | -€10,587 | -26.0% |
| Tangible fixed assets | 22/27 | €40,742 | €30,156 | -€10,587 | -26.0% |
| Plant, machinery and equipment | 23 | €13,755 | €10,174 | -€3,582 | -26.0% |
| Furniture and vehicles | 24 | €166 | €0 | -€166 | -100% |
| Leasing and similar rights | 25 | €18,771 | €12,910 | -€5,861 | -31.2% |
| Other tangible fixed assets | 26 | €8,051 | €7,072 | -€978 | -12.2% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €1,005,003 | €962,020 | -€42,983 | -4.3% |
| Stocks and contracts in progress | 3 | €872,905 | €851,071 | -€21,835 | -2.5% |
| Stocks | 30/36 | €872,905 | €851,071 | -€21,835 | -2.5% |
| Amounts receivable within one year | 40/41 | €74,452 | €71,921 | -€2,531 | -3.4% |
| Trade receivables | 40 | €15,747 | €9,851 | -€5,895 | -37.4% |
| Other amounts receivable | 41 | €58,705 | €62,069 | +€3,364 | +5.7% |
| Cash at bank and in hand | 54/58 | €56,406 | €37,353 | -€19,053 | -33.8% |
| Deferred charges and accrued income | 490/1 | €1,240 | €1,677 | +€437 | +35.2% |
| Total equity and liabilities | 10/49 | €1,045,775 | €992,206 | -€53,569 | -5.1% |
| Equity | 10/15 | €215,878 | €221,745 | +€5,867 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,278 | €203,145 | +€5,867 | +3.0% |
| Distributable reserves | 133 | €197,278 | €203,145 | +€5,867 | +3.0% |
| Amounts payable | 17/49 | €829,898 | €770,461 | -€59,436 | -7.2% |
| Amounts payable after more than one year | 17 | €443,873 | €379,615 | -€64,258 | -14.5% |
| Financial debts | 170/4 | €443,873 | €379,615 | -€64,258 | -14.5% |
| Amounts payable within one year | 42/48 | €386,025 | €390,846 | +€4,822 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €76,501 | €64,258 | -€12,243 | -16.0% |
| Financial debts | 43 | €172,941 | €145,558 | -€27,383 | -15.8% |
| Credit institutions | 430/8 | €172,941 | €120,000 | -€52,941 | -30.6% |
| Other loans | 439 | - | €25,558 | +€25,558 | |
| Trade debts | 44 | €80,318 | €137,322 | +€57,004 | +71.0% |
| Suppliers | 440/4 | €80,318 | €137,322 | +€57,004 | +71.0% |
| Advances received on contracts in progress | 46 | €10,337 | €3,524 | -€6,813 | -65.9% |
| Taxes, remuneration and social security | 45 | €45,928 | €40,184 | -€5,744 | -12.5% |
| Taxes | 450/3 | €14,469 | €7,222 | -€7,247 | -50.1% |
| Remuneration and social security | 454/9 | €31,459 | €32,963 | +€1,503 | +4.8% |
| Turnover | 70 | €1,507,793 | €1,532,299 | +€24,506 | +1.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,366,075 | €1,337,595 | -€28,481 | -2.1% |
| Remuneration, social security and pensions | 62 | €170,662 | €185,951 | +€15,289 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,820 | €10,587 | -€1,233 | -10.4% |
| Other operating charges | 640/8 | €1,800 | €1,817 | +€18 | +1.0% |
| Gross operating margin | 9900 | €151,971 | €211,392 | +€59,421 | +39.1% |
| Operating profit (loss) | 9901 | -€32,310 | €13,037 | +€45,347 | |
| Financial income | 75/76B | €5,159 | €5,994 | +€836 | +16.2% |
| Recurring financial income | 75 | €5,159 | €5,994 | +€836 | +16.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €16,399 | €12,578 | -€3,821 | -23.3% |
| Recurring financial charges | 65 | €16,399 | €12,578 | -€3,821 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,550 | €6,454 | +€50,004 | |
| Income taxes | 67/77 | €0 | €587 | +€587 | |
| Profit (loss) for the period | 9904 | -€43,550 | €5,867 | +€49,417 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,550 | €5,867 | +€49,417 |
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 23 October 2026 via checked.be.