VDR INVEST: what changed
VDR INVEST
Largest movements
- Receivables after one year -€75,000
down €75,000 (-100%), from €75,000 to €0
- Receivables within one year -€28,610
down €28,610 (-54.1%), from €52,920 to €24,309
of which Other amounts receivable: -€38,610
- Cash +€2,577
up €2,577 (+14.9%), from €17,348 to €19,925
mainly Receivables after one year (+€75,000) and Receivables within one year (+€28,610)
- Deferred charges and accrued income -€2,054
down €2,054 (-25.0%), from €8,225 to €6,171
- Tangible fixed assets -€1,693
down €1,693 (-43.8%), from €3,863 to €2,169
of which Furniture and vehicles: -€1,344
- Contributions -€707,000
down €707,000 (-98.8%), from €715,900 to €8,900
- Profit (loss) carried forward +€629,085
up €629,085 (+92.3%), from -€681,502 to -€52,417
- Other debts -€27,060
down €27,060 (-80.2%), from €33,753 to €6,693
- Trade debts +€2,315
up €2,315 (+117%), from €1,980 to €4,295
- Accrued charges and deferred income -€1,588
down €1,588 (-100%), from €1,588 to €0
- Gross operating margin +€26,628
up €26,628 (+288%), from €9,255 to €35,884
- Financial income -€8,187
down €8,187 (-84.3%), from €9,717 to €1,529
of which Non-recurring financial income: -€6,200
- Taxes +€6,430
up €6,430 (+567%), from €1,135 to €7,565
- Depreciation -€638
down €638 (-27.4%), from €2,332 to €1,693
- Other operating charges +€556
up €556 (+33.1%), from €1,679 to €2,235
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,356 | €52,578 | -€104,777 | -66.6% |
| Fixed assets | 21/28 | €3,863 | €2,172 | -€1,690 | -43.8% |
| Tangible fixed assets | 22/27 | €3,863 | €2,169 | -€1,693 | -43.8% |
| Land and buildings | 22 | €1,437 | €1,088 | -€349 | -24.3% |
| Furniture and vehicles | 24 | €2,425 | €1,081 | -€1,344 | -55.4% |
| Financial fixed assets | 28 | - | €3 | +€3 | |
| Current assets | 29/58 | €153,493 | €50,406 | -€103,087 | -67.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €0 | -€75,000 | -100% |
| Other amounts receivable | 291 | €75,000 | €0 | -€75,000 | -100% |
| Amounts receivable within one year | 40/41 | €52,920 | €24,309 | -€28,610 | -54.1% |
| Trade receivables | 40 | €0 | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €52,920 | €14,309 | -€38,610 | -73.0% |
| Cash at bank and in hand | 54/58 | €17,348 | €19,925 | +€2,577 | +14.9% |
| Deferred charges and accrued income | 490/1 | €8,225 | €6,171 | -€2,054 | -25.0% |
| Total equity and liabilities | 10/49 | €157,356 | €52,578 | -€104,777 | -66.6% |
| Equity | 10/15 | €112,398 | €34,483 | -€77,915 | -69.3% |
| Contributions | 10/11 | €715,900 | €8,900 | -€707,000 | -98.8% |
| Reserves | 13 | €78,000 | €78,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €0 | -€5,000 | -100% |
| Reserves not available under the articles | 1311 | €5,000 | €0 | -€5,000 | -100% |
| Distributable reserves | 133 | €73,000 | €78,000 | +€5,000 | +6.8% |
| Profit (loss) carried forward | 14 | -€681,502 | -€52,417 | +€629,085 | +92.3% |
| Amounts payable | 17/49 | €44,958 | €18,095 | -€26,863 | -59.8% |
| Amounts payable within one year | 42/48 | €43,370 | €18,095 | -€25,275 | -58.3% |
| Trade debts | 44 | €1,980 | €4,295 | +€2,315 | +117% |
| Suppliers | 440/4 | €1,980 | €4,295 | +€2,315 | +117% |
| Taxes, remuneration and social security | 45 | €7,637 | €7,107 | -€529 | -6.9% |
| Taxes | 450/3 | €7,637 | €7,107 | -€529 | -6.9% |
| Other amounts payable | 47/48 | €33,753 | €6,693 | -€27,060 | -80.2% |
| Accrued charges and deferred income | 492/3 | €1,588 | €0 | -€1,588 | -100% |
| Non-recurring operating income | 76A | - | €6,166 | +€6,166 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,332 | €1,693 | -€638 | -27.4% |
| Other operating charges | 640/8 | €1,679 | €2,235 | +€556 | +33.1% |
| Non-recurring operating charges | 66A | €6,200 | €0 | -€6,200 | -100% |
| Gross operating margin | 9900 | €9,255 | €35,884 | +€26,628 | +288% |
| Operating profit (loss) | 9901 | -€955 | €31,956 | +€32,910 | |
| Financial income | 75/76B | €9,717 | €1,529 | -€8,187 | -84.3% |
| Recurring financial income | 75 | €3,517 | €1,529 | -€1,987 | -56.5% |
| Non-recurring financial income | 76B | €6,200 | €0 | -€6,200 | -100% |
| Financial charges | 65/66B | €4,126 | €3,835 | -€291 | -7.1% |
| Recurring financial charges | 65 | €4,126 | €3,835 | -€291 | -7.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €4,636 | €29,650 | +€25,014 | +540% |
| Income taxes | 67/77 | €1,135 | €7,565 | +€6,430 | +567% |
| Profit (loss) for the period | 9904 | €3,502 | €22,085 | +€18,584 | +531% |
| Profit (loss) for the period to be appropriated | 9905 | €3,502 | €22,085 | +€18,584 | +531% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.