VDV Keukens: 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
VDV Keukens
NACE 31.002, Manufacture of furniture
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10,685
2024 · -€14,455+€25,140
Equity
€876,520
2024 · €885,835-€9,315
Cash
€214,876
2024 · €217,157-€2,281
Balance sheet total
€1.2m
2024 · €1.3m-€89,706
Largest movements
Assets
- Tangible fixed assets -€69,459
down €69,459 (-7.0%), from €988,965 to €919,505
- Receivables within one year -€17,545
down €17,545 (-40.4%), from €43,426 to €25,880
of which Other amounts receivable: -€16,589
Equity and liabilities
- Debts after one year -€49,120
down €49,120 (-17.8%), from €275,487 to €226,367
- Short-term financial debts -€23,000
down €23,000 (-66.7%), from €34,500 to €11,500
- Reserves -€20,000
down €20,000 (-2.3%), from €887,889 to €867,889
Income statement
- Gross operating margin +€20,971
up €20,971 (+10.1%), from €207,984 to €228,955
- Financial charges -€3,655
down €3,655 (-22.0%), from €16,623 to €12,968
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
-€14,455
Gross operating margin
+€20,971
Staff costs
+€1,024
Depreciation
-€587
Other operating charges
+€498
Financial income
+€879
Financial charges
+€3,655
Taxes
-€1,300
Result 2025
€10,685
raises the resultlowers the result
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.
From operations
+€112,664
Investment
-€12,486
Financing
-€102,459
Cash 2024
€217,157
From operations (derived)
+€112,664
Net result for the year
+€10,685
Depreciation
+€81,945
Stocks and contracts
+€792
Receivables within one year
+€17,545
Deferred charges and accrued income
-€372
Trade debts
+€1,316
Tax, wage and social debts
-€152
Other debts
+€903
Investment (derived)
-€12,486
Investment in fixed assets (net)
-€12,486
Financing
-€102,459
Debts after one year
-€49,120
Current portion of long-term debt
-€10,340
Short-term financial debts
-€23,000
Contributions, distributions and other
-€20,000
Cash 2025
€214,876
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,275,447 | €1,185,741 | -€89,706 | -7.0% |
| Fixed assets | 21/28 | €989,545 | €920,085 | -€69,459 | -7.0% |
| Tangible fixed assets | 22/27 | €988,965 | €919,505 | -€69,459 | -7.0% |
| Land and buildings | 22 | €857,026 | €823,627 | -€33,399 | -3.9% |
| Plant, machinery and equipment | 23 | €48,816 | €45,082 | -€3,733 | -7.6% |
| Furniture and vehicles | 24 | €83,123 | €50,795 | -€32,327 | -38.9% |
| Financial fixed assets | 28 | €580 | €580 | = | 0.0% |
| Current assets | 29/58 | €285,902 | €265,656 | -€20,247 | -7.1% |
| Stocks and contracts in progress | 3 | €19,032 | €18,240 | -€792 | -4.2% |
| Stocks | 30/36 | €19,032 | €18,240 | -€792 | -4.2% |
| Amounts receivable within one year | 40/41 | €43,426 | €25,880 | -€17,545 | -40.4% |
| Trade receivables | 40 | €16,192 | €15,236 | -€956 | -5.9% |
| Other amounts receivable | 41 | €27,234 | €10,644 | -€16,589 | -60.9% |
| Cash at bank and in hand | 54/58 | €217,157 | €214,876 | -€2,281 | -1.1% |
| Deferred charges and accrued income | 490/1 | €6,287 | €6,660 | +€372 | +5.9% |
| Total equity and liabilities | 10/49 | €1,275,447 | €1,185,741 | -€89,706 | -7.0% |
| Equity | 10/15 | €885,835 | €876,520 | -€9,315 | -1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €887,889 | €867,889 | -€20,000 | -2.3% |
| Distributable reserves | 133 | €887,889 | €867,889 | -€20,000 | -2.3% |
| Profit (loss) carried forward | 14 | -€14,455 | -€3,769 | +€10,685 | +73.9% |
| Amounts payable | 17/49 | €389,612 | €309,221 | -€80,391 | -20.6% |
| Amounts payable after more than one year | 17 | €275,487 | €226,367 | -€49,120 | -17.8% |
| Financial debts | 170/4 | €275,487 | €226,367 | -€49,120 | -17.8% |
| Amounts payable within one year | 42/48 | €114,125 | €82,854 | -€31,271 | -27.4% |
| Current portion of amounts payable after more than one year | 42 | €59,459 | €49,120 | -€10,340 | -17.4% |
| Financial debts | 43 | €34,500 | €11,500 | -€23,000 | -66.7% |
| Credit institutions | 430/8 | €34,500 | €11,500 | -€23,000 | -66.7% |
| Trade debts | 44 | €4,550 | €5,866 | +€1,316 | +28.9% |
| Suppliers | 440/4 | €4,550 | €5,866 | +€1,316 | +28.9% |
| Taxes, remuneration and social security | 45 | €152 | - | -€152 | |
| Taxes | 450/3 | €152 | - | -€152 | |
| Other amounts payable | 47/48 | €15,465 | €16,368 | +€903 | +5.8% |
| Non-recurring operating income | 76A | €24,793 | €413 | -€24,380 | -98.3% |
| Remuneration, social security and pensions | 62 | €118,900 | €117,876 | -€1,024 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,358 | €81,945 | +€587 | +0.7% |
| Other operating charges | 640/8 | €10,057 | €9,559 | -€498 | -5.0% |
| Gross operating margin | 9900 | €207,984 | €228,955 | +€20,971 | +10.1% |
| Operating profit (loss) | 9901 | -€2,331 | €19,575 | +€21,906 | |
| Financial income | 75/76B | €4,992 | €5,871 | +€879 | +17.6% |
| Recurring financial income | 75 | €4,992 | €5,871 | +€879 | +17.6% |
| Financial charges | 65/66B | €16,623 | €12,968 | -€3,655 | -22.0% |
| Recurring financial charges | 65 | €16,623 | €12,968 | -€3,655 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,962 | €12,478 | +€26,440 | |
| Income taxes | 67/77 | €493 | €1,793 | +€1,300 | +264% |
| Profit (loss) for the period | 9904 | -€14,455 | €10,685 | +€25,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,455 | €10,685 | +€25,140 |
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 23 October 2026 via checked.be.