VDsoft: 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.
VDsoft
Largest movements
- Receivables within one year +€41,917
up €41,917 (+61.5%), from €68,127 to €110,044
of which Trade receivables: +€25,566
- Stocks and contracts +€40,185
up €40,185 (+37.7%), from €106,507 to €146,692
- Current investments +€38,500
up €38,500 (+89.5%), from €43,000 to €81,500
- Cash +€34,239
up €34,239 (+6.5%), from €526,030 to €560,269
mainly Other debts (+€173,521) and Net result for the year (+€147,879)
- Tangible fixed assets +€26,874
up €26,874 (+16.0%), from €168,297 to €195,171
of which Furniture and vehicles: +€43,896
- Other debts +€173,521
up €173,521 (+416.1%), from €41,706 to €215,227
- Reserves -€80,811
down €80,811 (-15.0%), from €539,729 to €458,918
- Trade debts +€60,832
up €60,832 (+65.0%), from €93,652 to €154,484
- Debts after one year +€16,201
up €16,201 (+13.7%), from €118,473 to €134,674
- Gross operating margin +€86,266
up €86,266 (+46.5%), from €185,629 to €271,895
- Taxes +€25,068
up €25,068 (+59.8%), from €41,889 to €66,957
- Depreciation +€5,172
up €5,172 (+10.6%), from €48,879 to €54,051
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 | €918,362 | €1,100,036 | +€181,674 | +19.8% |
| Fixed assets | 21/28 | €168,297 | €195,171 | +€26,874 | +16.0% |
| Tangible fixed assets | 22/27 | €168,297 | €195,171 | +€26,874 | +16.0% |
| Land and buildings | 22 | €87,536 | €74,016 | -€13,520 | -15.4% |
| Plant, machinery and equipment | 23 | €39,087 | €35,585 | -€3,502 | -9.0% |
| Furniture and vehicles | 24 | €41,674 | €85,570 | +€43,896 | +105.3% |
| Current assets | 29/58 | €750,065 | €904,865 | +€154,800 | +20.6% |
| Stocks and contracts in progress | 3 | €106,507 | €146,692 | +€40,185 | +37.7% |
| Stocks | 30/36 | €106,507 | €146,692 | +€40,185 | +37.7% |
| Amounts receivable within one year | 40/41 | €68,127 | €110,044 | +€41,917 | +61.5% |
| Trade receivables | 40 | €40,480 | €66,046 | +€25,566 | +63.2% |
| Other amounts receivable | 41 | €27,647 | €43,998 | +€16,351 | +59.1% |
| Current investments | 50/53 | €43,000 | €81,500 | +€38,500 | +89.5% |
| Cash at bank and in hand | 54/58 | €526,030 | €560,269 | +€34,239 | +6.5% |
| Deferred charges and accrued income | 490/1 | €6,401 | €6,360 | -€41 | -0.6% |
| Total equity and liabilities | 10/49 | €918,362 | €1,100,036 | +€181,674 | +19.8% |
| Equity | 10/15 | €584,857 | €504,046 | -€80,811 | -13.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €539,729 | €458,918 | -€80,811 | -15.0% |
| Distributable reserves | 133 | €539,729 | €458,918 | -€80,811 | -15.0% |
| Profit (loss) carried forward | 14 | €37,068 | €37,068 | = | 0.0% |
| Provisions and deferred taxes | 16 | €24,500 | €24,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,500 | €24,500 | = | 0.0% |
| Pensions and similar obligations | 160 | €24,500 | €24,500 | = | 0.0% |
| Amounts payable | 17/49 | €309,005 | €571,490 | +€262,485 | +84.9% |
| Amounts payable after more than one year | 17 | €118,473 | €134,674 | +€16,201 | +13.7% |
| Financial debts | 170/4 | €118,473 | €134,674 | +€16,201 | +13.7% |
| Amounts payable within one year | 42/48 | €190,532 | €436,816 | +€246,284 | +129.3% |
| Current portion of amounts payable after more than one year | 42 | €35,484 | €41,633 | +€6,149 | +17.3% |
| Trade debts | 44 | €93,652 | €154,484 | +€60,832 | +65.0% |
| Suppliers | 440/4 | €93,652 | €154,484 | +€60,832 | +65.0% |
| Taxes, remuneration and social security | 45 | €19,690 | €25,472 | +€5,782 | +29.4% |
| Taxes | 450/3 | €19,690 | €25,472 | +€5,782 | +29.4% |
| Other amounts payable | 47/48 | €41,706 | €215,227 | +€173,521 | +416.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,879 | €54,051 | +€5,172 | +10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €611 | €2,114 | +€1,503 | +246.0% |
| Other operating charges | 640/8 | €1,819 | €1,896 | +€77 | +4.2% |
| Gross operating margin | 9900 | €185,629 | €271,895 | +€86,266 | +46.5% |
| Operating profit (loss) | 9901 | €134,320 | €213,834 | +€79,514 | +59.2% |
| Financial income | 75/76B | €7,746 | €8,280 | +€534 | +6.9% |
| Recurring financial income | 75 | €7,746 | €8,280 | +€534 | +6.9% |
| Financial charges | 65/66B | €7,818 | €7,278 | -€540 | -6.9% |
| Recurring financial charges | 65 | €7,818 | €7,278 | -€540 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €134,248 | €214,836 | +€80,588 | +60.0% |
| Income taxes | 67/77 | €41,889 | €66,957 | +€25,068 | +59.8% |
| Profit (loss) for the period | 9904 | €92,359 | €147,879 | +€55,520 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,359 | €147,879 | +€55,520 | +60.1% |
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.