VDV MESTVERWERKING: 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 MESTVERWERKING
Largest movements
- Tangible fixed assets +€129,113
up €129,113 (+24.1%), from €535,977 to €665,089
of which Plant, machinery and equipment: +€160,744
- Receivables within one year +€28,349
up €28,349 (+38.1%), from €74,456 to €102,804
of which Trade receivables: +€26,731
- Cash +€13,788
up €13,788 (+39.9%), from €34,549 to €48,337
mainly Debts after one year (+€93,468) and Net result for the year (+€89,223)
- Debts after one year +€93,468
up €93,468 (+30.4%), from €307,144 to €400,612
- Reserves +€89,223
up €89,223 (+47.6%), from €187,387 to €276,610
- Trade debts -€18,926
down €18,926 (-43.3%), from €43,677 to €24,751
- Gross operating margin +€66,974
up €66,974 (+45.2%), from €148,114 to €215,088
- Taxes +€14,613
up €14,613 (+68.2%), from €21,435 to €36,047
- Depreciation +€4,498
up €4,498 (+6.2%), from €72,168 to €76,666
- Financial charges +€4,145
up €4,145 (+49.2%), from €8,422 to €12,567
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 | €649,800 | €825,746 | +€175,946 | +27.1% |
| Fixed assets | 21/28 | €535,977 | €665,089 | +€129,113 | +24.1% |
| Tangible fixed assets | 22/27 | €535,977 | €665,089 | +€129,113 | +24.1% |
| Land and buildings | 22 | €241,188 | €235,806 | -€5,382 | -2.2% |
| Plant, machinery and equipment | 23 | €246,460 | €407,204 | +€160,744 | +65.2% |
| Leasing and similar rights | 25 | €48,329 | €22,079 | -€26,250 | -54.3% |
| Current assets | 29/58 | €113,823 | €160,656 | +€46,833 | +41.1% |
| Stocks and contracts in progress | 3 | €2,303 | €3,565 | +€1,262 | +54.8% |
| Stocks | 30/36 | €2,303 | €3,565 | +€1,262 | +54.8% |
| Amounts receivable within one year | 40/41 | €74,456 | €102,804 | +€28,349 | +38.1% |
| Trade receivables | 40 | €65,080 | €91,811 | +€26,731 | +41.1% |
| Other amounts receivable | 41 | €9,376 | €10,993 | +€1,618 | +17.3% |
| Cash at bank and in hand | 54/58 | €34,549 | €48,337 | +€13,788 | +39.9% |
| Deferred charges and accrued income | 490/1 | €2,516 | €5,950 | +€3,434 | +137% |
| Total equity and liabilities | 10/49 | €649,800 | €825,746 | +€175,946 | +27.1% |
| Equity | 10/15 | €193,587 | €282,810 | +€89,223 | +46.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €187,387 | €276,610 | +€89,223 | +47.6% |
| Distributable reserves | 133 | €187,387 | €276,610 | +€89,223 | +47.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €456,213 | €542,936 | +€86,723 | +19.0% |
| Amounts payable after more than one year | 17 | €307,144 | €400,612 | +€93,468 | +30.4% |
| Financial debts | 170/4 | €307,144 | €400,612 | +€93,468 | +30.4% |
| Amounts payable within one year | 42/48 | €149,069 | €142,324 | -€6,745 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €98,717 | €106,532 | +€7,815 | +7.9% |
| Trade debts | 44 | €43,677 | €24,751 | -€18,926 | -43.3% |
| Suppliers | 440/4 | €43,677 | €24,751 | -€18,926 | -43.3% |
| Taxes, remuneration and social security | 45 | €6,435 | €11,041 | +€4,606 | +71.6% |
| Taxes | 450/3 | €6,435 | €11,041 | +€4,606 | +71.6% |
| Other amounts payable | 47/48 | €240 | €0 | -€240 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,168 | €76,666 | +€4,498 | +6.2% |
| Other operating charges | 640/8 | €598 | €604 | +€6 | +1.1% |
| Gross operating margin | 9900 | €148,114 | €215,088 | +€66,974 | +45.2% |
| Operating profit (loss) | 9901 | €75,348 | €137,817 | +€62,469 | +82.9% |
| Financial income | 75/76B | €0 | €21 | +€21 | +205,200% |
| Recurring financial income | 75 | €0 | €21 | +€21 | +205,200% |
| Financial charges | 65/66B | €8,422 | €12,567 | +€4,145 | +49.2% |
| Recurring financial charges | 65 | €8,422 | €12,567 | +€4,145 | +49.2% |
| Profit (loss) for the period before taxes | 9903 | €66,926 | €125,270 | +€58,345 | +87.2% |
| Income taxes | 67/77 | €21,435 | €36,047 | +€14,613 | +68.2% |
| Profit (loss) for the period | 9904 | €45,491 | €89,223 | +€43,732 | +96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,491 | €89,223 | +€43,732 | +96.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.