VDS PRODUCTS: what changed
What changed
VDS PRODUCTS
NACE 43.350, Other building finishing work
filed annual accounts (NBB)
Net result for the year
€1,308
2024 · -€3,861+€5,168
Equity
€58,834
2024 · €57,526+€1,308
Cash
€48,713
2024 · €49,243-€530
Balance sheet total
€81,268
2024 · €96,142-€14,874
Largest movements
Assets
- Tangible fixed assets -€13,885
down €13,885 (-44.8%), from €31,012 to €17,127
of which Leasing and similar rights: -€13,604
Equity and liabilities
- Debts after one year -€13,970
down €13,970 (-74.8%), from €18,677 to €4,707
- Profit (loss) carried forward +€1,308
up €1,308 (+14.6%), from -€8,960 to -€7,652
- Accrued charges and deferred income -€1,006
down €1,006 (-68.7%), from €1,464 to €458
Income statement
- Staff costs -€10,174
down €10,174 (-87.8%), from €11,588 to €1,414
- Gross operating margin -€3,740
down €3,740 (-16.6%), from €22,553 to €18,813
- Taxes +€853
up €853 (+374%), from €228 to €1,081
- Financial income -€464
down €464 (-47.3%), from €981 to €516
- Financial charges -€241
down €241 (-30.1%), from €802 to €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
-€3,861
Gross operating margin
-€3,740
Staff costs
+€10,174
Other operating charges
-€191
Financial income
-€464
Financial charges
+€241
Taxes
-€853
Result 2025
€1,308
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
+€13,217
Investment
€0
Financing
-€13,747
Cash 2024
€49,243
From operations (derived)
+€13,217
Net result for the year
+€1,308
Depreciation
+€13,885
Receivables within one year
+€591
Deferred charges and accrued income
-€132
Trade debts
-€485
Tax, wage and social debts
-€943
Accrued charges and deferred income
-€1,006
Financing
-€13,747
Debts after one year
-€13,970
Current portion of long-term debt
+€223
Cash 2025
€48,713
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €96,142 | €81,268 | -€14,874 | -15.5% |
| Fixed assets | 21/28 | €31,012 | €17,127 | -€13,885 | -44.8% |
| Tangible fixed assets | 22/27 | €31,012 | €17,127 | -€13,885 | -44.8% |
| Plant, machinery and equipment | 23 | €636 | €355 | -€281 | -44.2% |
| Leasing and similar rights | 25 | €30,376 | €16,772 | -€13,604 | -44.8% |
| Current assets | 29/58 | €65,130 | €64,141 | -€989 | -1.5% |
| Amounts receivable within one year | 40/41 | €13,922 | €13,331 | -€591 | -4.2% |
| Trade receivables | 40 | €5,132 | €3,574 | -€1,558 | -30.4% |
| Other amounts receivable | 41 | €8,790 | €9,757 | +€967 | +11.0% |
| Cash at bank and in hand | 54/58 | €49,243 | €48,713 | -€530 | -1.1% |
| Deferred charges and accrued income | 490/1 | €1,965 | €2,097 | +€132 | +6.7% |
| Total equity and liabilities | 10/49 | €96,142 | €81,268 | -€14,874 | -15.5% |
| Equity | 10/15 | €57,526 | €58,834 | +€1,308 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,886 | €47,886 | = | 0.0% |
| Distributable reserves | 133 | €47,886 | €47,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,960 | -€7,652 | +€1,308 | +14.6% |
| Amounts payable | 17/49 | €38,616 | €22,434 | -€16,182 | -41.9% |
| Amounts payable after more than one year | 17 | €18,677 | €4,707 | -€13,970 | -74.8% |
| Financial debts | 170/4 | €18,677 | €4,707 | -€13,970 | -74.8% |
| Amounts payable within one year | 42/48 | €18,475 | €17,270 | -€1,205 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €13,747 | €13,970 | +€223 | +1.6% |
| Trade debts | 44 | €1,454 | €969 | -€485 | -33.4% |
| Suppliers | 440/4 | €1,454 | €969 | -€485 | -33.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,274 | €2,331 | -€943 | -28.8% |
| Taxes | 450/3 | €2,829 | €2,331 | -€498 | -17.6% |
| Remuneration and social security | 454/9 | €445 | €0 | -€445 | -100% |
| Accrued charges and deferred income | 492/3 | €1,464 | €458 | -€1,006 | -68.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €11,588 | €1,414 | -€10,174 | -87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,885 | €13,885 | = | 0.0% |
| Other operating charges | 640/8 | €890 | €1,081 | +€191 | +21.4% |
| Gross operating margin | 9900 | €22,553 | €18,813 | -€3,740 | -16.6% |
| Operating profit (loss) | 9901 | -€3,811 | €2,433 | +€6,244 | |
| Financial income | 75/76B | €981 | €516 | -€464 | -47.3% |
| Recurring financial income | 75 | €981 | €516 | -€464 | -47.3% |
| Financial charges | 65/66B | €802 | €561 | -€241 | -30.1% |
| Recurring financial charges | 65 | €802 | €561 | -€241 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,633 | €2,389 | +€6,021 | |
| Income taxes | 67/77 | €228 | €1,081 | +€853 | +374% |
| Profit (loss) for the period | 9904 | -€3,861 | €1,308 | +€5,168 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,861 | €1,308 | +€5,168 |
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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 4 November 2026 via checked.be.