VDS-Cedric: 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-Cedric
Largest movements
- Cash +€26,671
up €26,671 (+75.4%), from €35,382 to €62,052
mainly Net result for the year (+€36,160) and Other debts (+€30,160)
- Receivables within one year -€8,397
down €8,397 (-96.0%), from €8,743 to €345
of which Trade receivables: -€7,800
- Tangible fixed assets +€3,043
up €3,043 (+44.0%), from €6,914 to €9,957
of which Furniture and vehicles: +€4,809
- Other debts +€30,160
up €30,160 (+82.9%), from €36,367 to €66,527
- Tax, wage and social debts -€6,202
down €6,202 (-67.7%), from €9,166 to €2,963
of which Taxes: -€6,204
- Trade debts -€2,641
down €2,641 (-87.8%), from €3,006 to €365
- Gross operating margin -€3,824
down €3,824 (-6.7%), from €57,495 to €53,670
- Depreciation +€3,114
up €3,114 (+387%), from €804 to €3,918
- Taxes -€1,982
down €1,982 (-13.7%), from €14,434 to €12,452
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 | €51,038 | €72,355 | +€21,317 | +41.8% |
| Fixed assets | 21/28 | €6,914 | €9,957 | +€3,043 | +44.0% |
| Tangible fixed assets | 22/27 | €6,914 | €9,957 | +€3,043 | +44.0% |
| Plant, machinery and equipment | 23 | €6,914 | €5,148 | -€1,766 | -25.5% |
| Furniture and vehicles | 24 | - | €4,809 | +€4,809 | |
| Current assets | 29/58 | €44,124 | €62,398 | +€18,274 | +41.4% |
| Amounts receivable within one year | 40/41 | €8,743 | €345 | -€8,397 | -96.0% |
| Trade receivables | 40 | €7,800 | - | -€7,800 | |
| Other amounts receivable | 41 | €943 | €345 | -€597 | -63.4% |
| Cash at bank and in hand | 54/58 | €35,382 | €62,052 | +€26,671 | +75.4% |
| Total equity and liabilities | 10/49 | €51,038 | €72,355 | +€21,317 | +41.8% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable | 17/49 | €48,538 | €69,855 | +€21,317 | +43.9% |
| Amounts payable within one year | 42/48 | €48,538 | €69,855 | +€21,317 | +43.9% |
| Trade debts | 44 | €3,006 | €365 | -€2,641 | -87.8% |
| Suppliers | 440/4 | €3,006 | €365 | -€2,641 | -87.8% |
| Taxes, remuneration and social security | 45 | €9,166 | €2,963 | -€6,202 | -67.7% |
| Taxes | 450/3 | €7,128 | €924 | -€6,204 | -87.0% |
| Remuneration and social security | 454/9 | €2,038 | €2,039 | +€2 | +0.1% |
| Other amounts payable | 47/48 | €36,367 | €66,527 | +€30,160 | +82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804 | €3,918 | +€3,114 | +387% |
| Other operating charges | 640/8 | €693 | €929 | +€236 | +34.0% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €57,495 | €53,670 | -€3,824 | -6.7% |
| Operating profit (loss) | 9901 | €55,998 | €48,774 | -€7,224 | -12.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €271 | €161 | -€111 | -40.7% |
| Recurring financial charges | 65 | €271 | €161 | -€111 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €55,727 | €48,613 | -€7,114 | -12.8% |
| Income taxes | 67/77 | €14,434 | €12,452 | -€1,982 | -13.7% |
| Profit (loss) for the period | 9904 | €41,293 | €36,160 | -€5,133 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,293 | €36,160 | -€5,133 | -12.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.