VDSC: 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.
VDSC
Largest movements
- Tangible fixed assets -€9,916
down €9,916 (-5.5%), from €180,987 to €171,072
- Current investments -€2,852
down €2,852 (-22.0%), from €12,938 to €10,086
- Debts after one year -€19,670
down €19,670 (-29.9%), from €65,868 to €46,197
- Other debts +€12,449
up €12,449 (+6.9%), from €179,869 to €192,318
- Profit (loss) carried forward -€6,476
down €6,476 (-9.1%), from -€70,960 to -€77,436
- Financial income +€8,010
up €8,010 (+1196.1%), from €670 to €8,680
- Gross operating margin -€1,353
down €1,353 (-45.7%), from €2,963 to €1,609
- Financial charges -€840
down €840 (-17.0%), from €4,943 to €4,103
- Other operating charges +€83
up €83 (+3.1%), from €2,664 to €2,747
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 | €213,934 | €201,375 | -€12,559 | -5.9% |
| Fixed assets | 21/28 | €180,987 | €171,072 | -€9,916 | -5.5% |
| Tangible fixed assets | 22/27 | €180,987 | €171,072 | -€9,916 | -5.5% |
| Land and buildings | 22 | €180,987 | €171,072 | -€9,916 | -5.5% |
| Current assets | 29/58 | €32,947 | €30,304 | -€2,643 | -8.0% |
| Amounts receivable within one year | 40/41 | €1,692 | €1,292 | -€400 | -23.6% |
| Other amounts receivable | 41 | €1,692 | €1,292 | -€400 | -23.6% |
| Current investments | 50/53 | €12,938 | €10,086 | -€2,852 | -22.0% |
| Cash at bank and in hand | 54/58 | €17,644 | €18,926 | +€1,282 | +7.3% |
| Deferred charges and accrued income | 490/1 | €673 | €0 | -€673 | -100.0% |
| Total equity and liabilities | 10/49 | €213,934 | €201,375 | -€12,559 | -5.9% |
| Equity | 10/15 | -€50,500 | -€56,976 | -€6,476 | -12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,960 | -€77,436 | -€6,476 | -9.1% |
| Amounts payable | 17/49 | €264,434 | €258,352 | -€6,082 | -2.3% |
| Amounts payable after more than one year | 17 | €65,868 | €46,197 | -€19,670 | -29.9% |
| Financial debts | 170/4 | €65,868 | €46,197 | -€19,670 | -29.9% |
| Amounts payable within one year | 42/48 | €198,567 | €212,154 | +€13,588 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €18,698 | €19,670 | +€972 | +5.2% |
| Trade debts | 44 | €0 | €166 | +€166 | |
| Suppliers | 440/4 | €0 | €166 | +€166 | |
| Other amounts payable | 47/48 | €179,869 | €192,318 | +€12,449 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,916 | €9,916 | = | 0.0% |
| Other operating charges | 640/8 | €2,664 | €2,747 | +€83 | +3.1% |
| Gross operating margin | 9900 | €2,963 | €1,609 | -€1,353 | -45.7% |
| Operating profit (loss) | 9901 | -€9,617 | -€11,053 | -€1,436 | -14.9% |
| Financial income | 75/76B | €670 | €8,680 | +€8,010 | +1196.1% |
| Recurring financial income | 75 | €670 | €8,680 | +€8,010 | +1196.1% |
| Financial charges | 65/66B | €4,943 | €4,103 | -€840 | -17.0% |
| Recurring financial charges | 65 | €4,943 | €4,103 | -€840 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,890 | -€6,476 | +€7,414 | +53.4% |
| Profit (loss) for the period | 9904 | -€13,890 | -€6,476 | +€7,414 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,890 | -€6,476 | +€7,414 | +53.4% |
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 12 October 2026 via checked.be.