VDR Finances: 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 Finances
Largest movements
- Cash +€13,113
up €13,113 (+45.0%), from €29,119 to €42,232
mainly Net result for the year (+€17,876) and Depreciation (+€4,478)
- Receivables within one year +€4,722
up €4,722 (+18.6%), from €25,424 to €30,146
of which Other amounts receivable: +€5,478
- Tangible fixed assets -€4,477
down €4,477 (-20.9%), from €21,463 to €16,986
- Current investments +€3,500
up €3,500 (+100%), from €3,500 to €7,000
- Profit (loss) carried forward +€7,876
up €7,876 (+20.7%), from €38,089 to €45,965
- Reserves +€6,500
up €6,500 (+51.8%), from €12,560 to €19,060
of which Distributable reserves: +€6,500
- Trade debts +€3,203
up €3,203 (+78.8%), from €4,062 to €7,265
- Purchases and services +€34,888
up €34,888 (+25.4%), from €137,597 to €172,485
- Turnover +€33,662
up €33,662 (+19.4%), from €173,723 to €207,385
- Depreciation -€3,819
down €3,819 (-46.0%), from €8,297 to €4,478
- Gross operating margin -€3,404
down €3,404 (-8.9%), from €38,304 to €34,900
- Taxes +€3,142
up €3,142 (+67.0%), from €4,689 to €7,831
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 | €79,506 | €96,364 | +€16,858 | +21.2% |
| Fixed assets | 21/28 | €21,463 | €16,986 | -€4,477 | -20.9% |
| Tangible fixed assets | 22/27 | €21,463 | €16,986 | -€4,477 | -20.9% |
| Land and buildings | 22 | €6,658 | €5,411 | -€1,247 | -18.7% |
| Plant, machinery and equipment | 23 | €2,210 | €555 | -€1,655 | -74.9% |
| Furniture and vehicles | 24 | €3,932 | €2,356 | -€1,576 | -40.1% |
| Leasing and similar rights | 25 | €8,664 | €8,664 | +€0 | 0.0% |
| Current assets | 29/58 | €58,043 | €79,378 | +€21,335 | +36.8% |
| Amounts receivable within one year | 40/41 | €25,424 | €30,146 | +€4,722 | +18.6% |
| Trade receivables | 40 | €17,424 | €16,668 | -€756 | -4.3% |
| Other amounts receivable | 41 | €8,000 | €13,478 | +€5,478 | +68.5% |
| Current investments | 50/53 | €3,500 | €7,000 | +€3,500 | +100% |
| Cash at bank and in hand | 54/58 | €29,119 | €42,232 | +€13,113 | +45.0% |
| Total equity and liabilities | 10/49 | €79,506 | €96,364 | +€16,858 | +21.2% |
| Equity | 10/15 | €69,249 | €83,625 | +€14,376 | +20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,560 | €19,060 | +€6,500 | +51.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,700 | €17,200 | +€6,500 | +60.7% |
| Profit (loss) carried forward | 14 | €38,089 | €45,965 | +€7,876 | +20.7% |
| Amounts payable | 17/49 | €10,257 | €12,739 | +€2,482 | +24.2% |
| Amounts payable within one year | 42/48 | €10,257 | €12,739 | +€2,482 | +24.2% |
| Trade debts | 44 | €4,062 | €7,265 | +€3,203 | +78.8% |
| Suppliers | 440/4 | €4,062 | €7,265 | +€3,203 | +78.8% |
| Taxes, remuneration and social security | 45 | €2,695 | €1,974 | -€721 | -26.7% |
| Taxes | 450/3 | €2,695 | €1,974 | -€721 | -26.7% |
| Other amounts payable | 47/48 | €3,500 | €3,500 | = | 0.0% |
| Turnover | 70 | €173,723 | €207,385 | +€33,662 | +19.4% |
| Non-recurring operating income | 76A | €2,178 | - | -€2,178 | |
| Goods, raw materials, services and sundry goods | 60/61 | €137,597 | €172,485 | +€34,888 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,297 | €4,478 | -€3,819 | -46.0% |
| Other operating charges | 640/8 | €4,798 | €3,975 | -€823 | -17.2% |
| Non-recurring operating charges | 66A | €732 | - | -€732 | |
| Gross operating margin | 9900 | €38,304 | €34,900 | -€3,404 | -8.9% |
| Operating profit (loss) | 9901 | €24,477 | €26,447 | +€1,970 | +8.0% |
| Financial income | 75/76B | - | €128 | +€128 | |
| Recurring financial income | 75 | - | €128 | +€128 | |
| Non-recurring financial income | 76B | - | €128 | +€128 | |
| Financial charges | 65/66B | €73 | €868 | +€795 | +1,091% |
| Recurring financial charges | 65 | €73 | €133 | +€60 | +82.5% |
| Non-recurring financial charges | 66B | - | €735 | +€735 | |
| Profit (loss) for the period before taxes | 9903 | €24,404 | €25,707 | +€1,303 | +5.3% |
| Income taxes | 67/77 | €4,689 | €7,831 | +€3,142 | +67.0% |
| Profit (loss) for the period | 9904 | €19,715 | €17,876 | -€1,839 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,715 | €17,876 | -€1,839 | -9.3% |
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 28 October 2026 via checked.be.