VDS DENT: 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 DENT
Largest movements
- Cash +€316,028
up €316,028 (+164.2%), from €192,520 to €508,549
mainly Net result for the year (+€353,364) and Depreciation (+€142,311)
- Tangible fixed assets -€101,942
down €101,942 (-6.5%), from €1.6m to €1.5m
of which Land and buildings: -€76,258
- Receivables after one year -€60,000
no longer reported in 2025 (was €60,000)
- Receivables within one year +€39,128
up €39,128 (+48.6%), from €80,526 to €119,654
of which Other amounts receivable: +€34,774
- Reserves +€257,595
up €257,595 (+18.1%), from €1.4m to €1.7m
of which Tax-exempt reserves: +€168,400
- Debts after one year -€76,356
down €76,356 (-13.5%), from €567,429 to €491,073
- Gross operating margin +€61,857
up €61,857 (+8.5%), from €725,712 to €787,570
- Staff costs +€29,642
up €29,642 (+30.8%), from €96,132 to €125,774
- Depreciation +€17,721
up €17,721 (+14.2%), from €124,590 to €142,311
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 | €2,237,278 | €2,438,341 | +€201,063 | +9.0% |
| Fixed assets | 21/28 | €1,564,081 | €1,462,139 | -€101,942 | -6.5% |
| Tangible fixed assets | 22/27 | €1,564,081 | €1,462,139 | -€101,942 | -6.5% |
| Land and buildings | 22 | €1,395,641 | €1,319,383 | -€76,258 | -5.5% |
| Plant, machinery and equipment | 23 | €107,652 | €79,014 | -€28,638 | -26.6% |
| Furniture and vehicles | 24 | €12,183 | €12,278 | +€95 | +0.8% |
| Other tangible fixed assets | 26 | €48,605 | €51,464 | +€2,859 | +5.9% |
| Current assets | 29/58 | €673,197 | €976,202 | +€303,006 | +45.0% |
| Amounts receivable after more than one year | 29 | €60,000 | - | -€60,000 | |
| Other amounts receivable | 291 | €60,000 | - | -€60,000 | |
| Amounts receivable within one year | 40/41 | €80,526 | €119,654 | +€39,128 | +48.6% |
| Trade receivables | 40 | €5,992 | €10,346 | +€4,354 | +72.7% |
| Other amounts receivable | 41 | €74,534 | €109,308 | +€34,774 | +46.7% |
| Current investments | 50/53 | €338,947 | €344,481 | +€5,534 | +1.6% |
| Cash at bank and in hand | 54/58 | €192,520 | €508,549 | +€316,028 | +164.2% |
| Deferred charges and accrued income | 490/1 | €1,203 | €3,518 | +€2,315 | +192.4% |
| Total equity and liabilities | 10/49 | €2,237,278 | €2,438,341 | +€201,063 | +9.0% |
| Equity | 10/15 | €1,444,477 | €1,702,072 | +€257,595 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,421,024 | €1,678,619 | +€257,595 | +18.1% |
| Tax-exempt reserves | 132 | - | €168,400 | +€168,400 | |
| Distributable reserves | 133 | €1,421,024 | €1,510,219 | +€89,195 | +6.3% |
| Profit (loss) carried forward | 14 | €4,853 | €4,853 | = | 0.0% |
| Amounts payable | 17/49 | €792,801 | €736,269 | -€56,531 | -7.1% |
| Amounts payable after more than one year | 17 | €567,429 | €491,073 | -€76,356 | -13.5% |
| Financial debts | 170/4 | €567,429 | €491,073 | -€76,356 | -13.5% |
| Amounts payable within one year | 42/48 | €147,320 | €174,366 | +€27,047 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €79,461 | €76,356 | -€3,105 | -3.9% |
| Trade debts | 44 | - | €21,928 | +€21,928 | |
| Suppliers | 440/4 | - | €21,928 | +€21,928 | |
| Taxes, remuneration and social security | 45 | €63,954 | €71,894 | +€7,940 | +12.4% |
| Taxes | 450/3 | €34,366 | €53,064 | +€18,698 | +54.4% |
| Remuneration and social security | 454/9 | €29,588 | €18,830 | -€10,758 | -36.4% |
| Other amounts payable | 47/48 | €3,905 | €4,189 | +€284 | +7.3% |
| Accrued charges and deferred income | 492/3 | €78,052 | €70,830 | -€7,222 | -9.3% |
| Remuneration, social security and pensions | 62 | €96,132 | €125,774 | +€29,642 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,590 | €142,311 | +€17,721 | +14.2% |
| Other operating charges | 640/8 | €8,260 | €12,531 | +€4,271 | +51.7% |
| Gross operating margin | 9900 | €725,712 | €787,570 | +€61,857 | +8.5% |
| Operating profit (loss) | 9901 | €496,730 | €506,954 | +€10,223 | +2.1% |
| Financial income | 75/76B | €3,758 | €856 | -€2,902 | -77.2% |
| Recurring financial income | 75 | €3,758 | €856 | -€2,902 | -77.2% |
| Financial charges | 65/66B | €16,308 | €13,304 | -€3,004 | -18.4% |
| Recurring financial charges | 65 | €16,308 | €13,304 | -€3,004 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €484,181 | €494,506 | +€10,325 | +2.1% |
| Income taxes | 67/77 | €147,487 | €141,142 | -€6,346 | -4.3% |
| Profit (loss) for the period | 9904 | €336,693 | €353,364 | +€16,671 | +5.0% |
| Transfer to tax-exempt reserves | 689 | - | €168,400 | +€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €336,693 | €184,964 | -€151,729 | -45.1% |
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 9 October 2026 via checked.be.