VDS BAKERY: 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 BAKERY
Largest movements
- Cash +€149,522
up €149,522 (+45.6%), from €327,850 to €477,372
mainly Net result for the year (+€585,822) and Depreciation (+€62,713)
- Receivables within one year +€95,887
up €95,887 (+144.2%), from €66,478 to €162,365
of which Other amounts receivable: +€88,497
- Stocks and contracts +€18,712
up €18,712 (+45.6%), from €41,066 to €59,778
- Tangible fixed assets +€14,524
up €14,524 (+6.8%), from €213,774 to €228,298
of which Other tangible fixed assets: +€20,410
- Reserves +€285,822
up €285,822 (+81.4%), from €351,167 to €636,989
of which Distributable reserves: +€286,293
- Trade debts -€19,801
down €19,801 (-13.8%), from €143,434 to €123,633
- Debts after one year -€18,226
down €18,226 (-40.7%), from €44,752 to €26,526
- Tax, wage and social debts +€16,802
up €16,802 (+46.6%), from €36,089 to €52,891
of which Remuneration and social security: +€15,599
- Gross operating margin +€141,601
up €141,601 (+9.4%), from €1.5m to €1.6m
- Staff costs +€114,979
up €114,979 (+17.9%), from €642,161 to €757,140
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 | €721,007 | €985,791 | +€264,785 | +36.7% |
| Formation expenses | 20 | €15,870 | €11,335 | -€4,535 | -28.6% |
| Fixed assets | 21/28 | €213,774 | €228,298 | +€14,524 | +6.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €213,774 | €228,298 | +€14,524 | +6.8% |
| Plant, machinery and equipment | 23 | €90,176 | €86,190 | -€3,985 | -4.4% |
| Furniture and vehicles | 24 | €3,852 | €1,952 | -€1,900 | -49.3% |
| Other tangible fixed assets | 26 | €119,746 | €140,156 | +€20,410 | +17.0% |
| Current assets | 29/58 | €491,363 | €746,159 | +€254,796 | +51.9% |
| Stocks and contracts in progress | 3 | €41,066 | €59,778 | +€18,712 | +45.6% |
| Stocks | 30/36 | €41,066 | €59,778 | +€18,712 | +45.6% |
| Amounts receivable within one year | 40/41 | €66,478 | €162,365 | +€95,887 | +144.2% |
| Trade receivables | 40 | €4,155 | €11,545 | +€7,390 | +177.9% |
| Other amounts receivable | 41 | €62,323 | €150,820 | +€88,497 | +142.0% |
| Cash at bank and in hand | 54/58 | €327,850 | €477,372 | +€149,522 | +45.6% |
| Deferred charges and accrued income | 490/1 | €55,969 | €46,644 | -€9,325 | -16.7% |
| Total equity and liabilities | 10/49 | €721,007 | €985,791 | +€264,785 | +36.7% |
| Equity | 10/15 | €352,098 | €637,920 | +€285,822 | +81.2% |
| Contributions | 10/11 | €931 | €931 | = | 0.0% |
| Reserves | 13 | €351,167 | €636,989 | +€285,822 | +81.4% |
| Non-distributable reserves | 130/1 | €93 | €93 | = | 0.0% |
| Reserves not available under the articles | 1311 | €93 | €93 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,466 | €8,995 | -€471 | -5.0% |
| Distributable reserves | 133 | €341,608 | €627,901 | +€286,293 | +83.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €368,908 | €347,871 | -€21,038 | -5.7% |
| Amounts payable after more than one year | 17 | €44,752 | €26,526 | -€18,226 | -40.7% |
| Financial debts | 170/4 | €44,752 | €26,526 | -€18,226 | -40.7% |
| Amounts payable within one year | 42/48 | €324,156 | €321,345 | -€2,811 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €19,292 | €19,727 | +€435 | +2.3% |
| Financial debts | 43 | €125,200 | €124,953 | -€247 | -0.2% |
| Credit institutions | 430/8 | €125,200 | €124,953 | -€247 | -0.2% |
| Trade debts | 44 | €143,434 | €123,633 | -€19,801 | -13.8% |
| Suppliers | 440/4 | €143,434 | €123,633 | -€19,801 | -13.8% |
| Taxes, remuneration and social security | 45 | €36,089 | €52,891 | +€16,802 | +46.6% |
| Taxes | 450/3 | €4,936 | €6,139 | +€1,204 | +24.4% |
| Remuneration and social security | 454/9 | €31,153 | €46,752 | +€15,599 | +50.1% |
| Other amounts payable | 47/48 | €141 | €141 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €642,161 | €757,140 | +€114,979 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,228 | €62,713 | +€4,484 | +7.7% |
| Other operating charges | 640/8 | €11,193 | €11,782 | +€589 | +5.3% |
| Gross operating margin | 9900 | €1,499,819 | €1,641,419 | +€141,601 | +9.4% |
| Operating profit (loss) | 9901 | €788,237 | €809,785 | +€21,548 | +2.7% |
| Financial income | 75/76B | €7,732 | €531 | -€7,202 | -93.1% |
| Recurring financial income | 75 | €7,732 | €531 | -€7,202 | -93.1% |
| Financial charges | 65/66B | €24,747 | €26,553 | +€1,806 | +7.3% |
| Recurring financial charges | 65 | €24,747 | €26,553 | +€1,806 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €771,222 | €783,763 | +€12,540 | +1.6% |
| Income taxes | 67/77 | €194,455 | €197,940 | +€3,485 | +1.8% |
| Profit (loss) for the period | 9904 | €576,767 | €585,822 | +€9,055 | +1.6% |
| Transfer from tax-exempt reserves | 789 | €471 | €471 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €577,238 | €586,293 | +€9,055 | +1.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.