VDVintage: 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.
VDVintage
Largest movements
- Receivables within one year -€117,076
down €117,076 (-9.5%), from €1.2m to €1.1m
of which Trade receivables: -€142,025
- Cash +€37,669
up €37,669 (+16.2%), from €232,528 to €270,197
mainly Receivables within one year (+€117,076) and Stocks and contracts (+€32,786)
- Stocks and contracts -€32,786
down €32,786 (-24.2%), from €135,418 to €102,631
- Current portion of long-term debt -€60,934
down €60,934 (-76.6%), from €79,523 to €18,589
- Trade debts -€21,211
down €21,211 (-10.6%), from €200,708 to €179,497
- Gross operating margin -€432,243
down €432,243 (-87.6%), from €493,643 to €61,400
- Taxes -€117,539
down €117,539 (-93.5%), from €125,660 to €8,121
- Other operating charges -€47,038
down €47,038 (-89.4%), from €52,627 to €5,589
- Financial charges -€17,487
down €17,487 (-51.0%), from €34,313 to €16,826
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 | €1,949,641 | €1,854,494 | -€95,147 | -4.9% |
| Fixed assets | 21/28 | €348,360 | €366,734 | +€18,374 | +5.3% |
| Tangible fixed assets | 22/27 | €348,360 | €366,734 | +€18,374 | +5.3% |
| Land and buildings | 22 | €342,977 | €328,325 | -€14,652 | -4.3% |
| Plant, machinery and equipment | 23 | €2,950 | €4,075 | +€1,126 | +38.2% |
| Furniture and vehicles | 24 | €2,433 | €34,333 | +€31,901 | +1,311% |
| Current assets | 29/58 | €1,601,281 | €1,487,760 | -€113,521 | -7.1% |
| Stocks and contracts in progress | 3 | €135,418 | €102,631 | -€32,786 | -24.2% |
| Stocks | 30/36 | €135,418 | €102,631 | -€32,786 | -24.2% |
| Amounts receivable within one year | 40/41 | €1,228,804 | €1,111,728 | -€117,076 | -9.5% |
| Trade receivables | 40 | €1,184,978 | €1,042,953 | -€142,025 | -12.0% |
| Other amounts receivable | 41 | €43,826 | €68,775 | +€24,949 | +56.9% |
| Cash at bank and in hand | 54/58 | €232,528 | €270,197 | +€37,669 | +16.2% |
| Deferred charges and accrued income | 490/1 | €4,531 | €3,204 | -€1,327 | -29.3% |
| Total equity and liabilities | 10/49 | €1,949,641 | €1,854,494 | -€95,147 | -4.9% |
| Equity | 10/15 | €1,187,360 | €1,215,547 | +€28,187 | +2.4% |
| Contributions | 10/11 | €6,700 | €20,100 | +€13,400 | +200% |
| Reserves | 13 | €996,106 | €1,010,893 | +€14,787 | +1.5% |
| Non-distributable reserves | 130/1 | €2,010 | €2,010 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,010 | €2,010 | = | 0.0% |
| Distributable reserves | 133 | €994,096 | €1,008,883 | +€14,787 | +1.5% |
| Profit (loss) carried forward | 14 | €184,554 | €184,554 | = | 0.0% |
| Amounts payable | 17/49 | €762,281 | €638,947 | -€123,334 | -16.2% |
| Amounts payable after more than one year | 17 | €321,220 | €302,631 | -€18,589 | -5.8% |
| Financial debts | 170/4 | €321,220 | €302,631 | -€18,589 | -5.8% |
| Amounts payable within one year | 42/48 | €441,060 | €336,315 | -€104,745 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €79,523 | €18,589 | -€60,934 | -76.6% |
| Trade debts | 44 | €200,708 | €179,497 | -€21,211 | -10.6% |
| Suppliers | 440/4 | €200,708 | €179,497 | -€21,211 | -10.6% |
| Taxes, remuneration and social security | 45 | €99,733 | €93,071 | -€6,662 | -6.7% |
| Taxes | 450/3 | €71,614 | €64,952 | -€6,662 | -9.3% |
| Remuneration and social security | 454/9 | €28,119 | €28,119 | = | 0.0% |
| Other amounts payable | 47/48 | €61,096 | €45,158 | -€15,939 | -26.1% |
| Remuneration, social security and pensions | 62 | €302 | €785 | +€483 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,778 | €15,293 | +€516 | +3.5% |
| Other operating charges | 640/8 | €52,627 | €5,589 | -€47,038 | -89.4% |
| Gross operating margin | 9900 | €493,643 | €61,400 | -€432,243 | -87.6% |
| Operating profit (loss) | 9901 | €425,936 | €39,733 | -€386,203 | -90.7% |
| Financial income | 75/76B | €1 | €2 | +€1 | +105% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +105% |
| Financial charges | 65/66B | €34,313 | €16,826 | -€17,487 | -51.0% |
| Recurring financial charges | 65 | €34,313 | €16,826 | -€17,487 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €391,624 | €22,908 | -€368,716 | -94.2% |
| Income taxes | 67/77 | €125,660 | €8,121 | -€117,539 | -93.5% |
| Profit (loss) for the period | 9904 | €265,965 | €14,787 | -€251,177 | -94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €265,965 | €14,787 | -€251,177 | -94.4% |
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 29 October 2026 via checked.be.