VDSG CHAUFFAGE: what changed
VDSG CHAUFFAGE
Largest movements
- Cash +€32,771
up €32,771 (+35.7%), from €91,912 to €124,683
mainly Provisions (+€45,000) and Net result for the year (+€28,422)
- Stocks and contracts -€4,250
down €4,250 (-100%), from €4,250 to €0
- Receivables within one year +€2,765
up €2,765 (+17.5%), from €15,798 to €18,563
of which Other amounts receivable: +€10,893
- Provisions +€45,000
up €45,000 (+300%), from €15,000 to €60,000
- Profit (loss) carried forward +€28,422
new in 2025: €28,422
- Reserves -€27,356
down €27,356 (-35.2%), from €77,613 to €50,257
of which Distributable reserves: -€27,356
- Trade debts -€13,426
down €13,426 (-97.1%), from €13,821 to €395
- Gross operating margin +€48,327
up €48,327 (+116%), from €41,590 to €89,917
- Provisions +€30,000
up €30,000 (+200%), from €15,000 to €45,000
- Staff costs +€4,540
up €4,540 (+199%), from €2,284 to €6,824
- Financial charges +€2,107
up €2,107 (+309%), from €682 to €2,789
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,634 | €145,274 | +€32,640 | +29.0% |
| Fixed assets | 21/28 | €675 | €2,028 | +€1,353 | +201% |
| Tangible fixed assets | 22/27 | €325 | €1,678 | +€1,353 | +417% |
| Plant, machinery and equipment | 23 | €325 | €1,053 | +€728 | +224% |
| Furniture and vehicles | 24 | - | €625 | +€625 | |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €111,959 | €143,246 | +€31,287 | +27.9% |
| Stocks and contracts in progress | 3 | €4,250 | €0 | -€4,250 | -100% |
| Stocks | 30/36 | €4,250 | €0 | -€4,250 | -100% |
| Amounts receivable within one year | 40/41 | €15,798 | €18,563 | +€2,765 | +17.5% |
| Trade receivables | 40 | €10,415 | €2,287 | -€8,128 | -78.0% |
| Other amounts receivable | 41 | €5,383 | €16,276 | +€10,893 | +202% |
| Cash at bank and in hand | 54/58 | €91,912 | €124,683 | +€32,771 | +35.7% |
| Total equity and liabilities | 10/49 | €112,634 | €145,274 | +€32,640 | +29.0% |
| Equity | 10/15 | €83,813 | €84,879 | +€1,066 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,613 | €50,257 | -€27,356 | -35.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €75,753 | €48,397 | -€27,356 | -36.1% |
| Profit (loss) carried forward | 14 | - | €28,422 | +€28,422 | |
| Provisions and deferred taxes | 16 | €15,000 | €60,000 | +€45,000 | +300% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €60,000 | +€45,000 | +300% |
| Other liabilities and charges | 164/5 | €15,000 | €60,000 | +€45,000 | +300% |
| Amounts payable | 17/49 | €13,821 | €395 | -€13,426 | -97.1% |
| Amounts payable within one year | 42/48 | €13,821 | €395 | -€13,426 | -97.1% |
| Trade debts | 44 | €13,821 | €395 | -€13,426 | -97.1% |
| Suppliers | 440/4 | €13,821 | €395 | -€13,426 | -97.1% |
| Remuneration, social security and pensions | 62 | €2,284 | €6,824 | +€4,540 | +199% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,177 | €1,445 | +€268 | +22.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €15,000 | €45,000 | +€30,000 | +200% |
| Other operating charges | 640/8 | €244 | €484 | +€240 | +98.6% |
| Gross operating margin | 9900 | €41,590 | €89,917 | +€48,327 | +116% |
| Operating profit (loss) | 9901 | €22,886 | €36,164 | +€13,278 | +58.0% |
| Financial income | 75/76B | €781 | €762 | -€19 | -2.4% |
| Recurring financial income | 75 | €781 | €762 | -€19 | -2.4% |
| Financial charges | 65/66B | €682 | €2,789 | +€2,107 | +309% |
| Recurring financial charges | 65 | €682 | €2,789 | +€2,107 | +309% |
| Profit (loss) for the period before taxes | 9903 | €22,984 | €34,137 | +€11,153 | +48.5% |
| Income taxes | 67/77 | €6,573 | €5,715 | -€858 | -13.1% |
| Profit (loss) for the period | 9904 | €16,411 | €28,422 | +€12,011 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,411 | €28,422 | +€12,011 | +73.2% |
Next steps
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 3 November 2026 via checked.be.