VDS & PARTNERS: 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 & PARTNERS
Largest movements
- Cash -€14,419
down €14,419 (-51.7%), from €27,902 to €13,483
mainly Debts after one year (-€9,826) and Net result for the year (-€6,988)
- Tangible fixed assets -€8,777
down €8,777 (-17.2%), from €50,907 to €42,130
of which Land and buildings: -€8,599
- Receivables within one year +€1,063
up €1,063 (+9.7%), from €10,938 to €12,002
- Debts after one year -€9,826
down €9,826 (-17.3%), from €56,913 to €47,088
- Profit (loss) carried forward -€6,988
down €6,988 (-20.8%), from -€33,515 to -€40,503
- Tax, wage and social debts -€5,172
no longer reported in 2025 (was €5,172)
- Gross operating margin -€37,355
down €37,355 (-82.8%), from €45,130 to €7,775
- Depreciation -€9,751
down €9,751 (-52.6%), from €18,529 to €8,777
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 | €89,986 | €67,615 | -€22,371 | -24.9% |
| Fixed assets | 21/28 | €50,907 | €42,130 | -€8,777 | -17.2% |
| Tangible fixed assets | 22/27 | €50,907 | €42,130 | -€8,777 | -17.2% |
| Land and buildings | 22 | €50,729 | €42,130 | -€8,599 | -17.0% |
| Plant, machinery and equipment | 23 | €178 | €0 | -€178 | -100.0% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €39,079 | €25,485 | -€13,594 | -34.8% |
| Amounts receivable within one year | 40/41 | €10,938 | €12,002 | +€1,063 | +9.7% |
| Other amounts receivable | 41 | €10,938 | €12,002 | +€1,063 | +9.7% |
| Cash at bank and in hand | 54/58 | €27,902 | €13,483 | -€14,419 | -51.7% |
| Deferred charges and accrued income | 490/1 | €239 | - | -€239 | |
| Total equity and liabilities | 10/49 | €89,986 | €67,615 | -€22,371 | -24.9% |
| Equity | 10/15 | €17,689 | €10,701 | -€6,988 | -39.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €31,204 | €31,204 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €29,704 | €29,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,515 | -€40,503 | -€6,988 | -20.8% |
| Amounts payable | 17/49 | €72,297 | €56,913 | -€15,384 | -21.3% |
| Amounts payable after more than one year | 17 | €56,913 | €47,088 | -€9,826 | -17.3% |
| Financial debts | 170/4 | €56,913 | €47,088 | -€9,826 | -17.3% |
| Amounts payable within one year | 42/48 | €15,384 | €9,826 | -€5,558 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €9,392 | €9,826 | +€434 | +4.6% |
| Trade debts | 44 | €820 | - | -€820 | |
| Suppliers | 440/4 | €820 | - | -€820 | |
| Taxes, remuneration and social security | 45 | €5,172 | - | -€5,172 | |
| Taxes | 450/3 | €5,172 | - | -€5,172 | |
| Non-recurring operating income | 76A | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,529 | €8,777 | -€9,751 | -52.6% |
| Other operating charges | 640/8 | €3,481 | €3,093 | -€388 | -11.2% |
| Gross operating margin | 9900 | €45,130 | €7,775 | -€37,355 | -82.8% |
| Operating profit (loss) | 9901 | €23,120 | -€4,096 | -€27,216 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,306 | €2,892 | -€414 | -12.5% |
| Recurring financial charges | 65 | €3,306 | €2,892 | -€414 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €19,814 | -€6,988 | -€26,802 | |
| Profit (loss) for the period | 9904 | €19,814 | -€6,988 | -€26,802 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,814 | -€6,988 | -€26,802 |
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 11 October 2026 via checked.be.