VDS AVIATION: 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.
VDS AVIATION
Largest movements
- Cash -€39,015
down €39,015 (-83.9%), from €46,515 to €7,500
mainly Other debts (-€37,108) and Receivables within one year (-€8,524)
- Receivables within one year +€8,524
up €8,524 (+116%), from €7,360 to €15,884
of which Trade receivables: +€9,295
- Tangible fixed assets -€5,842
down €5,842 (-66.7%), from €8,755 to €2,912
of which Plant, machinery and equipment: -€5,168
- Other debts -€37,108
no longer reported in 2025 (was €37,108)
- Short-term financial debts +€2,520
new in 2025: €2,520
- Tax, wage and social debts -€2,035
down €2,035 (-34.4%), from €5,918 to €3,884
- Trade debts +€1,053
up €1,053 (+102%), from €1,029 to €2,082
- Profit (loss) carried forward -€703
new in 2025: -€703
- Gross operating margin -€65,547
down €65,547 (-91.5%), from €71,615 to €6,068
- Taxes -€12,969
down €12,969 (-94.9%), from €13,668 to €699
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 | €64,515 | €28,242 | -€36,273 | -56.2% |
| Fixed assets | 21/28 | €8,755 | €2,912 | -€5,842 | -66.7% |
| Tangible fixed assets | 22/27 | €8,755 | €2,912 | -€5,842 | -66.7% |
| Plant, machinery and equipment | 23 | €7,349 | €2,181 | -€5,168 | -70.3% |
| Furniture and vehicles | 24 | €1,406 | €731 | -€675 | -48.0% |
| Current assets | 29/58 | €55,761 | €25,330 | -€30,431 | -54.6% |
| Amounts receivable within one year | 40/41 | €7,360 | €15,884 | +€8,524 | +116% |
| Trade receivables | 40 | €6,028 | €15,323 | +€9,295 | +154% |
| Other amounts receivable | 41 | €1,332 | €561 | -€771 | -57.9% |
| Cash at bank and in hand | 54/58 | €46,515 | €7,500 | -€39,015 | -83.9% |
| Deferred charges and accrued income | 490/1 | €1,886 | €1,946 | +€60 | +3.2% |
| Total equity and liabilities | 10/49 | €64,515 | €28,242 | -€36,273 | -56.2% |
| Equity | 10/15 | €20,460 | €19,757 | -€703 | -3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€703 | -€703 | |
| Amounts payable | 17/49 | €44,055 | €8,485 | -€35,570 | -80.7% |
| Amounts payable within one year | 42/48 | €44,055 | €8,485 | -€35,570 | -80.7% |
| Financial debts | 43 | - | €2,520 | +€2,520 | |
| Credit institutions | 430/8 | - | €2,520 | +€2,520 | |
| Trade debts | 44 | €1,029 | €2,082 | +€1,053 | +102% |
| Suppliers | 440/4 | €1,029 | €2,082 | +€1,053 | +102% |
| Taxes, remuneration and social security | 45 | €5,918 | €3,884 | -€2,035 | -34.4% |
| Taxes | 450/3 | €5,918 | €3,884 | -€2,035 | -34.4% |
| Other amounts payable | 47/48 | €37,108 | - | -€37,108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,184 | €5,842 | -€342 | -5.5% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €71,615 | €6,068 | -€65,547 | -91.5% |
| Operating profit (loss) | 9901 | €65,313 | €106 | -€65,207 | -99.8% |
| Financial charges | 65/66B | €81 | €110 | +€29 | +36.2% |
| Recurring financial charges | 65 | €81 | €110 | +€29 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €65,232 | -€4 | -€65,236 | |
| Income taxes | 67/77 | €13,668 | €699 | -€12,969 | -94.9% |
| Profit (loss) for the period | 9904 | €51,564 | -€703 | -€52,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,564 | -€703 | -€52,268 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.