VDV ENTERPRISES: 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.
VDV ENTERPRISES
Largest movements
- Cash -€66,541
down €66,541 (-88.9%), from €74,881 to €8,341
mainly Deferred charges and accrued income (-€35,439) and Tax, wage and social debts (-€32,011)
- Deferred charges and accrued income +€35,439
new in 2025: €35,439
- Receivables within one year +€10,153
up €10,153 (+30.2%), from €33,594 to €43,747
of which Other amounts receivable: +€16,138
- Tax, wage and social debts -€32,011
down €32,011 (-88.9%), from €36,007 to €3,996
- Reserves +€7,600
new in 2025: €7,600
- Trade debts +€4,972
up €4,972 (+15.7%), from €31,694 to €36,666
- Advances received -€2,783
no longer reported in 2025 (was €2,783)
- Gross operating margin -€55,771
down €55,771 (-81.4%), from €68,525 to €12,754
- Taxes -€16,035
down €16,035 (-83.8%), from €19,141 to €3,107
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.
Derived cash bridge
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 | €119,408 | €97,186 | -€22,222 | -18.6% |
| Fixed assets | 21/28 | €10,933 | €9,658 | -€1,274 | -11.7% |
| Intangible fixed assets | 21 | €274 | €0 | -€274 | -100% |
| Tangible fixed assets | 22/27 | €9,608 | €8,608 | -€1,000 | -10.4% |
| Furniture and vehicles | 24 | €9,608 | €8,608 | -€1,000 | -10.4% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €108,475 | €87,527 | -€20,948 | -19.3% |
| Amounts receivable within one year | 40/41 | €33,594 | €43,747 | +€10,153 | +30.2% |
| Trade receivables | 40 | €32,801 | €26,816 | -€5,985 | -18.2% |
| Other amounts receivable | 41 | €793 | €16,932 | +€16,138 | +2,034% |
| Cash at bank and in hand | 54/58 | €74,881 | €8,341 | -€66,541 | -88.9% |
| Deferred charges and accrued income | 490/1 | - | €35,439 | +€35,439 | |
| Total equity and liabilities | 10/49 | €119,408 | €97,186 | -€22,222 | -18.6% |
| Equity | 10/15 | €48,925 | €56,524 | +€7,600 | +15.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €7,600 | +€7,600 | |
| Distributable reserves | 133 | - | €7,600 | +€7,600 | |
| Profit (loss) carried forward | 14 | €46,925 | €46,925 | = | 0.0% |
| Amounts payable | 17/49 | €70,483 | €40,661 | -€29,822 | -42.3% |
| Amounts payable within one year | 42/48 | €70,483 | €40,661 | -€29,822 | -42.3% |
| Trade debts | 44 | €31,694 | €36,666 | +€4,972 | +15.7% |
| Suppliers | 440/4 | €31,694 | €36,666 | +€4,972 | +15.7% |
| Advances received on contracts in progress | 46 | €2,783 | - | -€2,783 | |
| Taxes, remuneration and social security | 45 | €36,007 | €3,996 | -€32,011 | -88.9% |
| Taxes | 450/3 | €36,007 | €3,996 | -€32,011 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933 | €1,274 | +€342 | +36.6% |
| Other operating charges | 640/8 | €731 | €773 | +€42 | +5.7% |
| Gross operating margin | 9900 | €68,525 | €12,754 | -€55,771 | -81.4% |
| Operating profit (loss) | 9901 | €66,860 | €10,706 | -€56,154 | -84.0% |
| Financial income | 75/76B | €1 | €0 | -€0 | -74.1% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -74.1% |
| Financial charges | 65/66B | €157 | €0 | -€157 | -100% |
| Recurring financial charges | 65 | €157 | €0 | -€157 | -100% |
| Profit (loss) for the period before taxes | 9903 | €66,704 | €10,706 | -€55,998 | -83.9% |
| Income taxes | 67/77 | €19,141 | €3,107 | -€16,035 | -83.8% |
| Profit (loss) for the period | 9904 | €47,563 | €7,600 | -€39,964 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,563 | €7,600 | -€39,964 | -84.0% |
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 26 October 2026 via checked.be.