VDS & CO Management: 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 & CO Management
Largest movements
- Cash -€91,557
down €91,557 (-15.9%), from €576,188 to €484,631
mainly Contributions, distributions and other (-€895,205) and Receivables within one year (-€2,311)
- Reserves -€604,958
down €604,958 (-67.6%), from €895,205 to €290,247
- Other debts +€348,739
up €348,739, from €0 to €348,739
- Debts after one year +€142,574
up €142,574 (+16.9%), from €845,578 to €988,152
- Financial income -€591,501
down €591,501 (-65.7%), from €900,000 to €308,499
- Gross operating margin -€19,704
down €19,704 (-74.8%), from €26,340 to €6,636
- Financial charges -€6,515
down €6,515 (-22.2%), from €29,333 to €22,818
- Other operating charges +€594
up €594 (+119%), from €499 to €1,094
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 | €2,095,817 | €2,002,535 | -€93,282 | -4.5% |
| Formation expenses | 20 | €2,582 | €1,605 | -€978 | -37.9% |
| Fixed assets | 21/28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €593,235 | €500,930 | -€92,304 | -15.6% |
| Amounts receivable within one year | 40/41 | €11,532 | €13,843 | +€2,311 | +20.0% |
| Trade receivables | 40 | €11,293 | €11,293 | = | 0.0% |
| Other amounts receivable | 41 | €239 | €2,550 | +€2,311 | +969% |
| Cash at bank and in hand | 54/58 | €576,188 | €484,631 | -€91,557 | -15.9% |
| Deferred charges and accrued income | 490/1 | €5,515 | €2,457 | -€3,058 | -55.5% |
| Total equity and liabilities | 10/49 | €2,095,817 | €2,002,535 | -€93,282 | -4.5% |
| Equity | 10/15 | €1,075,205 | €470,247 | -€604,958 | -56.3% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €895,205 | €290,247 | -€604,958 | -67.6% |
| Distributable reserves | 133 | €895,205 | €290,247 | -€604,958 | -67.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,020,612 | €1,532,288 | +€511,676 | +50.1% |
| Amounts payable after more than one year | 17 | €845,578 | €988,152 | +€142,574 | +16.9% |
| Financial debts | 170/4 | €845,578 | €988,152 | +€142,574 | +16.9% |
| Amounts payable within one year | 42/48 | €167,637 | €527,415 | +€359,778 | +215% |
| Current portion of amounts payable after more than one year | 42 | €155,120 | €157,426 | +€2,306 | +1.5% |
| Trade debts | 44 | €2,920 | €11,608 | +€8,688 | +298% |
| Suppliers | 440/4 | €2,920 | €11,608 | +€8,688 | +298% |
| Taxes, remuneration and social security | 45 | €9,597 | €9,641 | +€44 | +0.5% |
| Taxes | 450/3 | €5,597 | €5,641 | +€44 | +0.8% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €348,739 | +€348,739 | |
| Accrued charges and deferred income | 492/3 | €7,397 | €16,722 | +€9,325 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €978 | €978 | = | 0.0% |
| Other operating charges | 640/8 | €499 | €1,094 | +€594 | +119% |
| Gross operating margin | 9900 | €26,340 | €6,636 | -€19,704 | -74.8% |
| Operating profit (loss) | 9901 | €24,863 | €4,565 | -€20,298 | -81.6% |
| Financial income | 75/76B | €900,000 | €308,499 | -€591,501 | -65.7% |
| Recurring financial income | 75 | €900,000 | €308,499 | -€591,501 | -65.7% |
| Financial charges | 65/66B | €29,333 | €22,818 | -€6,515 | -22.2% |
| Recurring financial charges | 65 | €29,333 | €22,818 | -€6,515 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €895,530 | €290,247 | -€605,284 | -67.6% |
| Profit (loss) for the period | 9904 | €895,530 | €290,247 | -€605,284 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €895,530 | €290,247 | -€605,284 | -67.6% |
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 20 October 2026 via checked.be.