VDSlab: what changed
Two fiscal 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.
VDSlab
Largest movements
- Cash +€23,839
up €23,839 (+26.7%), from €89,282 to €113,121
mainly Other debts (+€108,522) and Net result for the year (+€93,847)
- Deferred charges and accrued income -€18,867
no longer reported in 2025 (was €18,867)
- Receivables within one year +€17,494
up €17,494 (+80.5%), from €21,723 to €39,217
- Current investments -€17,360
down €17,360 (-7.5%), from €231,678 to €214,318
- Tangible fixed assets +€9,511
up €9,511 (+401.4%), from €2,369 to €11,880
of which Furniture and vehicles: +€10,039
- Profit (loss) carried forward -€202,556
down €202,556 (-100.0%), from €202,556 to €0
- Other debts +€108,522
up €108,522 (+167.0%), from €65,000 to €173,522
- Reserves +€93,847
up €93,847 (+241.5%), from €38,860 to €132,707
- Tax, wage and social debts +€36,070
up €36,070 (+306.5%), from €11,770 to €47,839
of which Taxes: +€37,307
- Current portion of long-term debt -€15,231
down €15,231 (-74.8%), from €20,370 to €5,139
- Depreciation -€54,480
down €54,480 (-93.8%), from €58,096 to €3,616
- Gross operating margin +€40,651
up €40,651 (+41.9%), from €97,063 to €137,715
- Taxes +€37,307
up €37,307 (+421.8%), from €8,845 to €46,151
- Financial income +€6,427
up €6,427 (+842.6%), from €763 to €7,189
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 | €363,919 | €378,535 | +€14,616 | +4.0% |
| Fixed assets | 21/28 | €2,369 | €11,880 | +€9,511 | +401.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,369 | €11,880 | +€9,511 | +401.4% |
| Furniture and vehicles | 24 | €1,155 | €11,194 | +€10,039 | +869.5% |
| Other tangible fixed assets | 26 | €1,215 | €686 | -€529 | -43.5% |
| Current assets | 29/58 | €361,550 | €366,655 | +€5,105 | +1.4% |
| Amounts receivable within one year | 40/41 | €21,723 | €39,217 | +€17,494 | +80.5% |
| Other amounts receivable | 41 | €21,723 | €39,217 | +€17,494 | +80.5% |
| Current investments | 50/53 | €231,678 | €214,318 | -€17,360 | -7.5% |
| Cash at bank and in hand | 54/58 | €89,282 | €113,121 | +€23,839 | +26.7% |
| Deferred charges and accrued income | 490/1 | €18,867 | - | -€18,867 | |
| Total equity and liabilities | 10/49 | €363,919 | €378,535 | +€14,616 | +4.0% |
| Equity | 10/15 | €260,016 | €151,307 | -€108,709 | -41.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,860 | €132,707 | +€93,847 | +241.5% |
| Distributable reserves | 133 | €38,860 | €132,707 | +€93,847 | +241.5% |
| Profit (loss) carried forward | 14 | €202,556 | €0 | -€202,556 | -100.0% |
| Amounts payable | 17/49 | €103,904 | €227,228 | +€123,325 | +118.7% |
| Amounts payable after more than one year | 17 | €5,139 | - | -€5,139 | |
| Financial debts | 170/4 | €5,139 | - | -€5,139 | |
| Amounts payable within one year | 42/48 | €98,765 | €227,228 | +€128,464 | +130.1% |
| Current portion of amounts payable after more than one year | 42 | €20,370 | €5,139 | -€15,231 | -74.8% |
| Trade debts | 44 | €1,625 | €728 | -€898 | -55.2% |
| Suppliers | 440/4 | €1,625 | €728 | -€898 | -55.2% |
| Taxes, remuneration and social security | 45 | €11,770 | €47,839 | +€36,070 | +306.5% |
| Taxes | 450/3 | €8,845 | €46,151 | +€37,307 | +421.8% |
| Remuneration and social security | 454/9 | €2,925 | €1,688 | -€1,237 | -42.3% |
| Other amounts payable | 47/48 | €65,000 | €173,522 | +€108,522 | +167.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,096 | €3,616 | -€54,480 | -93.8% |
| Other operating charges | 640/8 | €725 | €501 | -€225 | -31.0% |
| Gross operating margin | 9900 | €97,063 | €137,715 | +€40,651 | +41.9% |
| Operating profit (loss) | 9901 | €38,242 | €133,598 | +€95,356 | +249.4% |
| Financial income | 75/76B | €763 | €7,189 | +€6,427 | +842.6% |
| Recurring financial income | 75 | €763 | €7,189 | +€6,427 | +842.6% |
| Financial charges | 65/66B | €1,324 | €789 | -€535 | -40.4% |
| Recurring financial charges | 65 | €1,324 | €789 | -€535 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €37,680 | €139,998 | +€102,318 | +271.5% |
| Income taxes | 67/77 | €8,845 | €46,151 | +€37,307 | +421.8% |
| Profit (loss) for the period | 9904 | €28,836 | €93,847 | +€65,011 | +225.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,836 | €93,847 | +€65,011 | +225.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.