VDTECH Service: 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.
What changed
VDTECH Service
NACE 46.610, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€317,782
2024 · €224,418+€93,364
Equity
€1.4m
2024 · €1.3m+€116,241
Cash
€207,186
2024 · €18,092+€189,094
Balance sheet total
€4.4m
2024 · €4.8m-€417,035
Largest movements
Assets
- Receivables within one year -€630,447
down €630,447 (-48.4%), from €1.3m to €672,747
of which Trade receivables: -€636,978
- Cash +€189,094
up €189,094 (+1045.2%), from €18,092 to €207,186
mainly Receivables within one year (+€630,447) and Net result for the year (+€317,782)
Equity and liabilities
- Trade debts -€551,004
down €551,004 (-47.6%), from €1.2m to €606,072
- Other debts +€206,032
up €206,032 (+72.6%), from €283,615 to €489,647
- Advances received -€150,250
no longer reported in 2025 (was €150,250)
- Profit (loss) carried forward +€117,782
up €117,782 (+9.6%), from €1.2m to €1.3m
Income statement
- Gross operating margin +€110,389
up €110,389 (+12.7%), from €870,233 to €980,622
- Provisions -€36,345
down €36,345, from €3,690 to -€32,655
- Staff costs +€34,044
up €34,044 (+8.5%), from €400,663 to €434,706
- Taxes +€29,192
up €29,192 (+42.4%), from €68,850 to €98,041
- Financial income +€22,456
up €22,456 (+131.8%), from €17,034 to €39,491
of which Non-recurring financial income: +€16,023
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.
Result 2024
€224,418
Gross operating margin
+€110,389
Staff costs
-€34,044
Depreciation
-€3,129
Write-downs
+€2,775
Provisions
+€36,345
Other operating charges
-€4,550
Other operating items
-€753
Financial income
+€22,456
Financial charges
-€6,933
Taxes
-€29,192
Result 2025
€317,782
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.
From operations
+€607,843
Investment
-€171,825
Financing
-€246,924
Cash 2024
€18,092
From operations (derived)
+€607,843
Net result for the year
+€317,782
Depreciation
+€130,427
Receivables after one year
+€18,582
Stocks and contracts
-€9,574
Receivables within one year
+€630,447
Deferred charges and accrued income
+€8,073
Provisions
-€32,655
Trade debts
-€551,004
Tax, wage and social debts
+€24,985
Advances received
-€150,250
Other debts
+€206,032
Accrued charges and deferred income
+€15,000
Investment (derived)
-€171,825
Investment in fixed assets (net)
-€171,825
Financing
-€246,924
Debts after one year
-€22,842
Current portion of long-term debt
-€22,541
Contributions, distributions and other
-€201,541
Cash 2025
€207,186
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,787,390 | €4,370,355 | -€417,035 | -8.7% |
| Fixed assets | 21/28 | €1,457,074 | €1,498,472 | +€41,398 | +2.8% |
| Tangible fixed assets | 22/27 | €1,449,844 | €1,496,602 | +€46,758 | +3.2% |
| Land and buildings | 22 | €1,211,505 | €1,327,068 | +€115,562 | +9.5% |
| Plant, machinery and equipment | 23 | €113,852 | €33,281 | -€80,572 | -70.8% |
| Furniture and vehicles | 24 | €124,487 | €136,254 | +€11,767 | +9.5% |
| Financial fixed assets | 28 | €7,230 | €1,870 | -€5,360 | -74.1% |
| Current assets | 29/58 | €3,330,316 | €2,871,883 | -€458,433 | -13.8% |
| Amounts receivable after more than one year | 29 | €18,582 | - | -€18,582 | |
| Other amounts receivable | 291 | €18,582 | - | -€18,582 | |
| Stocks and contracts in progress | 3 | €1,974,116 | €1,983,690 | +€9,574 | +0.5% |
| Stocks | 30/36 | €1,974,116 | €1,983,690 | +€9,574 | +0.5% |
| Amounts receivable within one year | 40/41 | €1,303,194 | €672,747 | -€630,447 | -48.4% |
| Trade receivables | 40 | €1,277,980 | €641,002 | -€636,978 | -49.8% |
| Other amounts receivable | 41 | €25,214 | €31,745 | +€6,531 | +25.9% |
| Cash at bank and in hand | 54/58 | €18,092 | €207,186 | +€189,094 | +1045.2% |
| Deferred charges and accrued income | 490/1 | €16,332 | €8,259 | -€8,073 | -49.4% |
| Total equity and liabilities | 10/49 | €4,787,390 | €4,370,355 | -€417,035 | -8.7% |
| Equity | 10/15 | €1,272,614 | €1,388,855 | +€116,241 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,230,883 | €1,348,664 | +€117,782 | +9.6% |
| Investment grants | 15 | €23,132 | €21,591 | -€1,541 | -6.7% |
| Provisions and deferred taxes | 16 | €110,850 | €78,195 | -€32,655 | -29.5% |
| Provisions for liabilities and charges | 160/5 | €110,850 | €78,195 | -€32,655 | -29.5% |
| Environmental obligations | 163 | €110,850 | €78,195 | -€32,655 | -29.5% |
| Amounts payable | 17/49 | €3,403,926 | €2,903,305 | -€500,621 | -14.7% |
| Amounts payable after more than one year | 17 | €1,507,790 | €1,484,947 | -€22,842 | -1.5% |
| Financial debts | 170/4 | €1,507,790 | €1,484,947 | -€22,842 | -1.5% |
| Amounts payable within one year | 42/48 | €1,896,136 | €1,403,358 | -€492,779 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €231,494 | €208,953 | -€22,541 | -9.7% |
| Trade debts | 44 | €1,157,077 | €606,072 | -€551,004 | -47.6% |
| Suppliers | 440/4 | €1,157,077 | €606,072 | -€551,004 | -47.6% |
| Advances received on contracts in progress | 46 | €150,250 | - | -€150,250 | |
| Taxes, remuneration and social security | 45 | €73,700 | €98,684 | +€24,985 | +33.9% |
| Taxes | 450/3 | €41,990 | €32,008 | -€9,982 | -23.8% |
| Remuneration and social security | 454/9 | €31,710 | €66,677 | +€34,966 | +110.3% |
| Other amounts payable | 47/48 | €283,615 | €489,647 | +€206,032 | +72.6% |
| Accrued charges and deferred income | 492/3 | - | €15,000 | +€15,000 | |
| Non-recurring operating income | 76A | €38 | €9 | -€29 | -76.8% |
| Remuneration, social security and pensions | 62 | €400,663 | €434,706 | +€34,044 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,298 | €130,427 | +€3,129 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,775 | -€2,775 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,690 | -€32,655 | -€36,345 | |
| Other operating charges | 640/8 | €5,600 | €10,150 | +€4,550 | +81.2% |
| Non-recurring operating charges | 66A | -€19 | €735 | +€753 | |
| Gross operating margin | 9900 | €870,233 | €980,622 | +€110,389 | +12.7% |
| Operating profit (loss) | 9901 | €333,001 | €440,033 | +€107,032 | +32.1% |
| Financial income | 75/76B | €17,034 | €39,491 | +€22,456 | +131.8% |
| Recurring financial income | 75 | €17,034 | €23,467 | +€6,433 | +37.8% |
| Non-recurring financial income | 76B | - | €16,023 | +€16,023 | |
| Financial charges | 65/66B | €56,768 | €63,701 | +€6,933 | +12.2% |
| Recurring financial charges | 65 | €56,768 | €63,701 | +€6,933 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €293,267 | €415,823 | +€122,556 | +41.8% |
| Income taxes | 67/77 | €68,850 | €98,041 | +€29,192 | +42.4% |
| Profit (loss) for the period | 9904 | €224,418 | €317,782 | +€93,364 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €224,418 | €317,782 | +€93,364 | +41.6% |
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.