VDVS VERWARMING: 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.
VDVS VERWARMING
Largest movements
- Financial fixed assets +€25,000
new in 2025: €25,000
- Receivables within one year -€13,399
down €13,399 (-43.6%), from €30,706 to €17,307
of which Trade receivables: -€9,196
- Tangible fixed assets -€10,543
down €10,543 (-24.7%), from €42,714 to €32,171
of which Furniture and vehicles: -€10,660
- Cash +€2,607
up €2,607 (+4.3%), from €60,329 to €62,936
mainly Net result for the year (+€18,602) and Depreciation (+€15,109)
- Reserves +€43,641
up €43,641 (+53.7%), from €81,211 to €124,852
- Profit (loss) carried forward -€25,039
no longer reported in 2025 (was €25,039)
- Trade debts -€7,579
down €7,579 (-54.8%), from €13,833 to €6,254
- Short-term financial debts -€6,118
no longer reported in 2025 (was €6,118)
- Tax, wage and social debts -€3,526
down €3,526 (-26.6%), from €13,276 to €9,750
of which Remuneration and social security: -€2,433
- Gross operating margin -€38,651
down €38,651 (-46.2%), from €83,674 to €45,022
- Staff costs -€32,464
down €32,464 (-93.9%), from €34,564 to €2,100
- Depreciation +€4,368
up €4,368 (+40.7%), from €10,741 to €15,109
- Taxes -€2,848
down €2,848 (-27.7%), from €10,299 to €7,451
- Financial charges -€1,106
down €1,106 (-75.5%), from €1,464 to €358
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 | €145,677 | €147,055 | +€1,379 | +0.9% |
| Fixed assets | 21/28 | €44,172 | €57,980 | +€13,808 | +31.3% |
| Intangible fixed assets | 21 | €1,458 | €809 | -€649 | -44.5% |
| Tangible fixed assets | 22/27 | €42,714 | €32,171 | -€10,543 | -24.7% |
| Plant, machinery and equipment | 23 | €9,115 | €9,930 | +€814 | +8.9% |
| Furniture and vehicles | 24 | €27,520 | €16,860 | -€10,660 | -38.7% |
| Other tangible fixed assets | 26 | €6,079 | €5,382 | -€697 | -11.5% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €101,505 | €89,075 | -€12,429 | -12.2% |
| Stocks and contracts in progress | 3 | €4,205 | €3,785 | -€421 | -10.0% |
| Stocks | 30/36 | €4,205 | €3,785 | -€421 | -10.0% |
| Amounts receivable within one year | 40/41 | €30,706 | €17,307 | -€13,399 | -43.6% |
| Trade receivables | 40 | €18,023 | €8,828 | -€9,196 | -51.0% |
| Other amounts receivable | 41 | €12,683 | €8,479 | -€4,203 | -33.1% |
| Cash at bank and in hand | 54/58 | €60,329 | €62,936 | +€2,607 | +4.3% |
| Deferred charges and accrued income | 490/1 | €6,264 | €5,048 | -€1,216 | -19.4% |
| Total equity and liabilities | 10/49 | €145,677 | €147,055 | +€1,379 | +0.9% |
| Equity | 10/15 | €112,450 | €131,052 | +€18,602 | +16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,211 | €124,852 | +€43,641 | +53.7% |
| Distributable reserves | 133 | €81,211 | €124,852 | +€43,641 | +53.7% |
| Profit (loss) carried forward | 14 | €25,039 | - | -€25,039 | |
| Amounts payable | 17/49 | €33,227 | €16,004 | -€17,223 | -51.8% |
| Amounts payable within one year | 42/48 | €33,227 | €16,004 | -€17,223 | -51.8% |
| Financial debts | 43 | €6,118 | - | -€6,118 | |
| Credit institutions | 430/8 | €6,118 | - | -€6,118 | |
| Trade debts | 44 | €13,833 | €6,254 | -€7,579 | -54.8% |
| Suppliers | 440/4 | €13,833 | €6,254 | -€7,579 | -54.8% |
| Taxes, remuneration and social security | 45 | €13,276 | €9,750 | -€3,526 | -26.6% |
| Taxes | 450/3 | €10,843 | €9,750 | -€1,093 | -10.1% |
| Remuneration and social security | 454/9 | €2,433 | - | -€2,433 | |
| Remuneration, social security and pensions | 62 | €34,564 | €2,100 | -€32,464 | -93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,741 | €15,109 | +€4,368 | +40.7% |
| Other operating charges | 640/8 | €1,267 | €1,706 | +€438 | +34.6% |
| Non-recurring operating charges | 66A | €299 | €53 | -€246 | -82.3% |
| Gross operating margin | 9900 | €83,674 | €45,022 | -€38,651 | -46.2% |
| Operating profit (loss) | 9901 | €36,802 | €26,055 | -€10,747 | -29.2% |
| Financial income | 75/76B | €0 | €357 | +€356 | +169,667% |
| Recurring financial income | 75 | €0 | €357 | +€356 | +169,667% |
| Financial charges | 65/66B | €1,464 | €358 | -€1,106 | -75.5% |
| Recurring financial charges | 65 | €1,464 | €358 | -€1,106 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €35,338 | €26,053 | -€9,285 | -26.3% |
| Income taxes | 67/77 | €10,299 | €7,451 | -€2,848 | -27.7% |
| Profit (loss) for the period | 9904 | €25,039 | €18,602 | -€6,437 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,039 | €18,602 | -€6,437 | -25.7% |
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.