VDV Line: 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 Line
Largest movements
- Cash -€16,334
down €16,334 (-41.6%), from €39,233 to €22,899
mainly Debts after one year (-€104,487) and Current portion of long-term debt (-€2,136)
- Debts after one year -€104,487
down €104,487 (-15.7%), from €666,174 to €561,687
of which Other amounts payable: -€54,944
- Profit (loss) carried forward +€70,347
up €70,347 (+111%), from €63,298 to €133,644
- Other debts +€12,126
up €12,126 (+26.7%), from €45,464 to €57,590
- Financial charges -€6,210
down €6,210 (-24.2%), from €25,643 to €19,433
- Gross operating margin +€2,348
up €2,348 (+2.2%), from €105,796 to €108,144
- Taxes +€1,852
up €1,852 (+11.3%), from €16,440 to €18,292
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 | €857,507 | €841,196 | -€16,311 | -1.9% |
| Fixed assets | 21/28 | €800,000 | €800,000 | = | 0.0% |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Current assets | 29/58 | €57,507 | €41,196 | -€16,311 | -28.4% |
| Amounts receivable within one year | 40/41 | €16,940 | €16,940 | = | 0.0% |
| Trade receivables | 40 | €16,940 | €16,940 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,233 | €22,899 | -€16,334 | -41.6% |
| Deferred charges and accrued income | 490/1 | €1,333 | €1,357 | +€23 | +1.7% |
| Total equity and liabilities | 10/49 | €857,507 | €841,196 | -€16,311 | -1.9% |
| Equity | 10/15 | €69,298 | €139,644 | +€70,347 | +102% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,298 | €133,644 | +€70,347 | +111% |
| Amounts payable | 17/49 | €788,209 | €701,551 | -€86,658 | -11.0% |
| Amounts payable after more than one year | 17 | €666,174 | €561,687 | -€104,487 | -15.7% |
| Financial debts | 170/4 | €306,587 | €257,044 | -€49,543 | -16.2% |
| Other amounts payable | 178/9 | €359,587 | €304,643 | -€54,944 | -15.3% |
| Amounts payable within one year | 42/48 | €121,885 | €139,715 | +€17,830 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €56,087 | €53,951 | -€2,136 | -3.8% |
| Trade debts | 44 | €2,765 | €2,696 | -€69 | -2.5% |
| Suppliers | 440/4 | €2,765 | €2,696 | -€69 | -2.5% |
| Taxes, remuneration and social security | 45 | €17,568 | €25,477 | +€7,909 | +45.0% |
| Taxes | 450/3 | €15,023 | €22,917 | +€7,893 | +52.5% |
| Remuneration and social security | 454/9 | €2,545 | €2,561 | +€16 | +0.6% |
| Other amounts payable | 47/48 | €45,464 | €57,590 | +€12,126 | +26.7% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €18 | €0 | -€18 | -100% |
| Other operating charges | 640/8 | €456 | €335 | -€121 | -26.4% |
| Gross operating margin | 9900 | €105,796 | €108,144 | +€2,348 | +2.2% |
| Operating profit (loss) | 9901 | €105,322 | €107,808 | +€2,487 | +2.4% |
| Financial income | 75/76B | €59 | €263 | +€204 | +344% |
| Recurring financial income | 75 | €59 | €263 | +€204 | +344% |
| Financial charges | 65/66B | €25,643 | €19,433 | -€6,210 | -24.2% |
| Recurring financial charges | 65 | €25,643 | €19,433 | -€6,210 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €79,738 | €88,639 | +€8,901 | +11.2% |
| Income taxes | 67/77 | €16,440 | €18,292 | +€1,852 | +11.3% |
| Profit (loss) for the period | 9904 | €63,298 | €70,347 | +€7,049 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,298 | €70,347 | +€7,049 | +11.1% |
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 24 October 2026 via checked.be.