VDS: 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.
VDS
Largest movements
- Tangible fixed assets -€16,275
down €16,275 (-10.2%), from €159,863 to €143,589
of which Furniture and vehicles: -€9,352
- Cash +€7,492
up €7,492 (+272.7%), from €2,747 to €10,240
mainly Depreciation (+€16,275) and Receivables within one year (+€3,264)
- Receivables within one year -€3,264
down €3,264 (-40.4%), from €8,088 to €4,824
of which Trade receivables: -€2,810
- Debts after one year -€10,407
down €10,407 (-20.4%), from €50,923 to €40,517
- Profit (loss) carried forward -€3,021
down €3,021 (-16.0%), from -€18,915 to -€21,936
- Gross operating margin -€14,767
down €14,767 (-46.5%), from €31,786 to €17,018
- Other operating charges +€631
up €631 (+37.9%), from €1,663 to €2,294
- Financial charges -€408
down €408 (-20.3%), from €2,006 to €1,598
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 | €171,171 | €158,653 | -€12,518 | -7.3% |
| Fixed assets | 21/28 | €159,863 | €143,589 | -€16,275 | -10.2% |
| Tangible fixed assets | 22/27 | €159,863 | €143,589 | -€16,275 | -10.2% |
| Land and buildings | 22 | €122,455 | €115,533 | -€6,923 | -5.7% |
| Furniture and vehicles | 24 | €37,408 | €28,056 | -€9,352 | -25.0% |
| Current assets | 29/58 | €11,308 | €15,065 | +€3,757 | +33.2% |
| Amounts receivable within one year | 40/41 | €8,088 | €4,824 | -€3,264 | -40.4% |
| Trade receivables | 40 | €5,817 | €3,007 | -€2,810 | -48.3% |
| Other amounts receivable | 41 | €2,271 | €1,817 | -€454 | -20.0% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,747 | €10,240 | +€7,492 | +272.7% |
| Deferred charges and accrued income | 490/1 | €471 | - | -€471 | |
| Total equity and liabilities | 10/49 | €171,171 | €158,653 | -€12,518 | -7.3% |
| Equity | 10/15 | €107,722 | €104,701 | -€3,021 | -2.8% |
| Contributions | 10/11 | €125,141 | €125,141 | = | 0.0% |
| Reserves | 13 | €1,496 | €1,496 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,496 | €1,496 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,496 | €1,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,915 | -€21,936 | -€3,021 | -16.0% |
| Amounts payable | 17/49 | €63,449 | €53,953 | -€9,496 | -15.0% |
| Amounts payable after more than one year | 17 | €50,923 | €40,517 | -€10,407 | -20.4% |
| Financial debts | 170/4 | €50,923 | €40,517 | -€10,407 | -20.4% |
| Amounts payable within one year | 42/48 | €12,526 | €13,436 | +€910 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €12,286 | €12,128 | -€157 | -1.3% |
| Trade debts | 44 | €8 | €512 | +€504 | +6170.3% |
| Suppliers | 440/4 | €8 | €512 | +€504 | +6170.3% |
| Other amounts payable | 47/48 | €232 | €796 | +€564 | +243.1% |
| Non-recurring operating income | 76A | €150 | - | -€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,279 | €16,275 | -€4 | 0.0% |
| Other operating charges | 640/8 | €1,663 | €2,294 | +€631 | +37.9% |
| Gross operating margin | 9900 | €31,786 | €17,018 | -€14,767 | -46.5% |
| Operating profit (loss) | 9901 | €13,844 | -€1,550 | -€15,394 | |
| Financial income | 75/76B | €163 | €127 | -€36 | -22.0% |
| Recurring financial income | 75 | €163 | €127 | -€36 | -22.0% |
| Financial charges | 65/66B | €2,006 | €1,598 | -€408 | -20.3% |
| Recurring financial charges | 65 | €2,006 | €1,598 | -€408 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €12,001 | -€3,021 | -€15,022 | |
| Profit (loss) for the period | 9904 | €12,001 | -€3,021 | -€15,022 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,001 | -€3,021 | -€15,022 |
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 5 October 2026 via checked.be.