VDS PHARMA: what changed
What changed
VDS PHARMA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€74,668
2024 · €17,244+€57,424
Equity
€502,844
2024 · €449,351+€53,492
Cash
€23,878
2024 · €7,981+€15,897
Balance sheet total
€821,719
2024 · €833,761-€12,042
Largest movements
Assets
- Receivables within one year -€27,938
down €27,938 (-25.4%), from €109,809 to €81,871
of which Other amounts receivable: -€14,638
- Cash +€15,897
up €15,897 (+199%), from €7,981 to €23,878
mainly Net result for the year (+€74,668) and Receivables within one year (+€27,938)
Equity and liabilities
- Reserves +€53,492
up €53,492 (+12.4%), from €430,751 to €484,244
of which Distributable reserves: +€53,492
- Debts after one year -€40,739
down €40,739 (-18.7%), from €217,417 to €176,678
- Other debts -€21,377
down €21,377 (-21.7%), from €98,388 to €77,011
Income statement
- Gross operating margin +€70,522
up €70,522 (+194%), from €36,307 to €106,828
- Taxes +€13,532
up €13,532 (+206%), from €6,556 to €20,088
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
€17,244
Gross operating margin
+€70,522
Other operating charges
-€328
Other operating items
+€1,014
Financial charges
-€251
Taxes
-€13,532
Result 2025
€74,668
raises the resultlowers the resultnot broken down further in the accounts
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
+€77,102
Investment
€0
Financing
-€61,206
Cash 2024
€7,981
From operations (derived)
+€77,102
Net result for the year
+€74,668
Receivables within one year
+€27,938
Trade debts
-€3,634
Tax, wage and social debts
+€102
Other debts
-€21,377
Accrued charges and deferred income
-€597
Financing
-€61,206
Debts after one year
-€40,739
Current portion of long-term debt
+€710
Contributions, distributions and other
-€21,176
Cash 2025
€23,878
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €833,761 | €821,719 | -€12,042 | -1.4% |
| Fixed assets | 21/28 | €715,971 | €715,971 | = | 0.0% |
| Financial fixed assets | 28 | €715,971 | €715,971 | = | 0.0% |
| Current assets | 29/58 | €117,790 | €105,749 | -€12,042 | -10.2% |
| Amounts receivable within one year | 40/41 | €109,809 | €81,871 | -€27,938 | -25.4% |
| Trade receivables | 40 | €93,300 | €80,000 | -€13,300 | -14.3% |
| Other amounts receivable | 41 | €16,509 | €1,871 | -€14,638 | -88.7% |
| Cash at bank and in hand | 54/58 | €7,981 | €23,878 | +€15,897 | +199% |
| Total equity and liabilities | 10/49 | €833,761 | €821,719 | -€12,042 | -1.4% |
| Equity | 10/15 | €449,351 | €502,844 | +€53,492 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €430,751 | €484,244 | +€53,492 | +12.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €430,751 | €484,244 | +€53,492 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €384,409 | €318,876 | -€65,534 | -17.0% |
| Amounts payable after more than one year | 17 | €217,417 | €176,678 | -€40,739 | -18.7% |
| Financial debts | 170/4 | €217,417 | €176,678 | -€40,739 | -18.7% |
| Amounts payable within one year | 42/48 | €166,220 | €142,023 | -€24,198 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €51,021 | €51,731 | +€710 | +1.4% |
| Trade debts | 44 | €6,426 | €2,792 | -€3,634 | -56.5% |
| Suppliers | 440/4 | €6,426 | €2,792 | -€3,634 | -56.5% |
| Taxes, remuneration and social security | 45 | €10,386 | €10,488 | +€102 | +1.0% |
| Taxes | 450/3 | €10,386 | €10,488 | +€102 | +1.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €98,388 | €77,011 | -€21,377 | -21.7% |
| Accrued charges and deferred income | 492/3 | €772 | €175 | -€597 | -77.3% |
| Non-recurring operating income | 76A | €1,136 | €0 | -€1,136 | -100% |
| Other operating charges | 640/8 | €891 | €1,219 | +€328 | +36.8% |
| Non-recurring operating charges | 66A | €1,546 | €532 | -€1,014 | -65.6% |
| Gross operating margin | 9900 | €36,307 | €106,828 | +€70,522 | +194% |
| Operating profit (loss) | 9901 | €33,870 | €105,078 | +€71,208 | +210% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €10,070 | €10,321 | +€251 | +2.5% |
| Recurring financial charges | 65 | €10,070 | €10,321 | +€251 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €23,800 | €94,756 | +€70,957 | +298% |
| Income taxes | 67/77 | €6,556 | €20,088 | +€13,532 | +206% |
| Profit (loss) for the period | 9904 | €17,244 | €74,668 | +€57,424 | +333% |
| Profit (loss) for the period to be appropriated | 9905 | €17,244 | €74,668 | +€57,424 | +333% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.