VDS-M: what changed
What changed
VDS-M
NACE 43.410, Roofing work
filed annual accounts (NBB)
Net result for the year
€33,125
2024 · €79,552-€46,427
Equity
€234,884
2024 · €213,982+€20,902
Cash
€89,381
2024 · €118,999-€29,618
Balance sheet total
€332,053
2024 · €331,695+€358
Largest movements
Assets
- Receivables within one year +€42,266
up €42,266 (+118%), from €35,715 to €77,981
of which Other amounts receivable: +€49,817
- Cash -€29,618
down €29,618 (-24.9%), from €118,999 to €89,381
mainly Receivables within one year (-€42,266) and Investment in fixed assets (net) (-€21,531)
- Tangible fixed assets -€24,840
down €24,840 (-17.0%), from €145,694 to €120,854
of which Leasing and similar rights: -€31,892
- Deferred charges and accrued income +€14,498
up €14,498 (+390%), from €3,715 to €18,213
Equity and liabilities
- Reserves +€20,902
up €20,902 (+9.8%), from €212,982 to €233,884
- Trade debts -€18,551
down €18,551 (-89.9%), from €20,637 to €2,086
Income statement
- Gross operating margin -€90,814
down €90,814 (-24.7%), from €367,209 to €276,396
- Staff costs -€27,125
down €27,125 (-13.3%), from €204,260 to €177,136
- Taxes -€19,270
down €19,270 (-57.0%), from €33,832 to €14,561
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€79,552
Gross operating margin
-€90,814
Staff costs
+€27,125
Depreciation
+€509
Other operating charges
-€3,626
Financial income
-€33
Financial charges
+€1,141
Taxes
+€19,270
Result 2025
€33,125
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4,136
Investment
-€21,531
Financing
-€12,223
Cash 2024
€118,999
From operations (derived)
+€4,136
Net result for the year
+€33,125
Depreciation
+€46,372
Receivables after one year
-€503
Stocks and contracts
+€2,450
Receivables within one year
-€42,266
Deferred charges and accrued income
-€14,498
Trade debts
-€18,551
Tax, wage and social debts
-€2,041
Other debts
+€47
Investment (derived)
-€21,531
Investment in fixed assets (net)
-€21,531
Financing
-€12,223
Contributions, distributions and other
-€12,223
Cash 2025
€89,381
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €331,695 | €332,053 | +€358 | +0.1% |
| Fixed assets | 21/28 | €145,694 | €120,854 | -€24,840 | -17.0% |
| Tangible fixed assets | 22/27 | €145,694 | €120,854 | -€24,840 | -17.0% |
| Plant, machinery and equipment | 23 | €7,870 | €7,366 | -€504 | -6.4% |
| Furniture and vehicles | 24 | €21,423 | €32,876 | +€11,453 | +53.5% |
| Leasing and similar rights | 25 | €82,044 | €50,153 | -€31,892 | -38.9% |
| Other tangible fixed assets | 26 | €34,357 | €30,460 | -€3,897 | -11.3% |
| Current assets | 29/58 | €186,001 | €211,199 | +€25,198 | +13.5% |
| Amounts receivable after more than one year | 29 | €15,236 | €15,739 | +€503 | +3.3% |
| Other amounts receivable | 291 | €15,236 | €15,739 | +€503 | +3.3% |
| Stocks and contracts in progress | 3 | €12,335 | €9,886 | -€2,450 | -19.9% |
| Stocks | 30/36 | €12,335 | €9,886 | -€2,450 | -19.9% |
| Amounts receivable within one year | 40/41 | €35,715 | €77,981 | +€42,266 | +118% |
| Trade receivables | 40 | €20,179 | €12,628 | -€7,551 | -37.4% |
| Other amounts receivable | 41 | €15,535 | €65,352 | +€49,817 | +321% |
| Cash at bank and in hand | 54/58 | €118,999 | €89,381 | -€29,618 | -24.9% |
| Deferred charges and accrued income | 490/1 | €3,715 | €18,213 | +€14,498 | +390% |
| Total equity and liabilities | 10/49 | €331,695 | €332,053 | +€358 | +0.1% |
| Equity | 10/15 | €213,982 | €234,884 | +€20,902 | +9.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €212,982 | €233,884 | +€20,902 | +9.8% |
| Distributable reserves | 133 | €212,982 | €233,884 | +€20,902 | +9.8% |
| Amounts payable | 17/49 | €117,713 | €97,169 | -€20,544 | -17.5% |
| Amounts payable after more than one year | 17 | €89,319 | €89,319 | = | 0.0% |
| Financial debts | 170/4 | €89,319 | €89,319 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,394 | €7,850 | -€20,544 | -72.4% |
| Current portion of amounts payable after more than one year | 42 | €2,271 | €2,271 | = | 0.0% |
| Trade debts | 44 | €20,637 | €2,086 | -€18,551 | -89.9% |
| Suppliers | 440/4 | €20,637 | €2,086 | -€18,551 | -89.9% |
| Taxes, remuneration and social security | 45 | €5,486 | €3,445 | -€2,041 | -37.2% |
| Taxes | 450/3 | €2,832 | - | -€2,832 | |
| Remuneration and social security | 454/9 | €2,655 | €3,445 | +€791 | +29.8% |
| Other amounts payable | 47/48 | - | €47 | +€47 | |
| Non-recurring operating income | 76A | - | €21,805 | +€21,805 | |
| Remuneration, social security and pensions | 62 | €204,260 | €177,136 | -€27,125 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,881 | €46,372 | -€509 | -1.1% |
| Other operating charges | 640/8 | €1,476 | €5,101 | +€3,626 | +246% |
| Gross operating margin | 9900 | €367,209 | €276,396 | -€90,814 | -24.7% |
| Operating profit (loss) | 9901 | €114,593 | €47,787 | -€66,805 | -58.3% |
| Financial income | 75/76B | €33 | - | -€33 | |
| Recurring financial income | 75 | €33 | - | -€33 | |
| Financial charges | 65/66B | €1,242 | €101 | -€1,141 | -91.9% |
| Recurring financial charges | 65 | €1,242 | €101 | -€1,141 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | €113,383 | €47,686 | -€65,697 | -57.9% |
| Income taxes | 67/77 | €33,832 | €14,561 | -€19,270 | -57.0% |
| Profit (loss) for the period | 9904 | €79,552 | €33,125 | -€46,427 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €79,552 | €33,125 | -€46,427 | -58.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.