VDRA: 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.
VDRA
Largest movements
- Receivables within one year +€50,470
up €50,470 (+318.1%), from €15,868 to €66,338
of which Other amounts receivable: +€50,375
- Cash -€19,806
down €19,806 (-15.8%), from €125,573 to €105,766
mainly Contributions, distributions and other (-€100,000) and Receivables within one year (-€50,470)
- Tangible fixed assets +€4,801
up €4,801 (+159.3%), from €3,013 to €7,814
of which Furniture and vehicles: +€3,040
- Other debts +€84,802
up €84,802 (+42840.1%), from €198 to €85,000
- Reserves -€50,227
down €50,227 (-49.2%), from €102,167 to €51,940
- Tax, wage and social debts +€4,656
up €4,656 (+14.2%), from €32,682 to €37,339
of which Taxes: +€4,656
- Trade debts -€3,307
down €3,307 (-52.3%), from €6,318 to €3,012
- Gross operating margin -€13,625
down €13,625 (-17.3%), from €78,869 to €65,244
- Taxes -€2,675
down €2,675 (-16.9%), from €15,849 to €13,174
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 | €144,815 | €180,290 | +€35,475 | +24.5% |
| Fixed assets | 21/28 | €3,013 | €7,814 | +€4,801 | +159.3% |
| Tangible fixed assets | 22/27 | €3,013 | €7,814 | +€4,801 | +159.3% |
| Plant, machinery and equipment | 23 | €3,013 | €4,774 | +€1,761 | +58.5% |
| Furniture and vehicles | 24 | - | €3,040 | +€3,040 | |
| Current assets | 29/58 | €141,802 | €172,476 | +€30,674 | +21.6% |
| Amounts receivable within one year | 40/41 | €15,868 | €66,338 | +€50,470 | +318.1% |
| Trade receivables | 40 | €15,868 | €15,962 | +€95 | +0.6% |
| Other amounts receivable | 41 | - | €50,375 | +€50,375 | |
| Cash at bank and in hand | 54/58 | €125,573 | €105,766 | -€19,806 | -15.8% |
| Deferred charges and accrued income | 490/1 | €362 | €372 | +€11 | +2.9% |
| Total equity and liabilities | 10/49 | €144,815 | €180,290 | +€35,475 | +24.5% |
| Equity | 10/15 | €105,167 | €54,940 | -€50,227 | -47.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €102,167 | €51,940 | -€50,227 | -49.2% |
| Distributable reserves | 133 | €102,167 | €51,940 | -€50,227 | -49.2% |
| Amounts payable | 17/49 | €39,648 | €125,350 | +€85,702 | +216.2% |
| Amounts payable within one year | 42/48 | €39,198 | €125,350 | +€86,152 | +219.8% |
| Trade debts | 44 | €6,318 | €3,012 | -€3,307 | -52.3% |
| Suppliers | 440/4 | €6,318 | €3,012 | -€3,307 | -52.3% |
| Taxes, remuneration and social security | 45 | €32,682 | €37,339 | +€4,656 | +14.2% |
| Taxes | 450/3 | €30,182 | €34,839 | +€4,656 | +15.4% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €198 | €85,000 | +€84,802 | +42840.1% |
| Accrued charges and deferred income | 492/3 | €450 | - | -€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €641 | €1,391 | +€750 | +117.0% |
| Other operating charges | 640/8 | €808 | €454 | -€354 | -43.8% |
| Gross operating margin | 9900 | €78,869 | €65,244 | -€13,625 | -17.3% |
| Operating profit (loss) | 9901 | €77,420 | €63,398 | -€14,021 | -18.1% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €695 | €452 | -€243 | -35.0% |
| Recurring financial charges | 65 | €695 | €452 | -€243 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €76,735 | €62,947 | -€13,788 | -18.0% |
| Income taxes | 67/77 | €15,849 | €13,174 | -€2,675 | -16.9% |
| Profit (loss) for the period | 9904 | €60,886 | €49,773 | -€11,113 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,886 | €49,773 | -€11,113 | -18.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.