VDW Algemene Werken: what changed
VDW Algemene Werken
Largest movements
- Cash -€5,905
down €5,905 (-27.3%), from €21,614 to €15,709
mainly Investment in fixed assets (net) (-€9,136) and Receivables within one year (-€962)
- Tangible fixed assets +€5,864
up €5,864 (+124%), from €4,731 to €10,595
of which Plant, machinery and equipment: +€7,066
- Receivables within one year +€962
up €962 (+11.8%), from €8,182 to €9,143
of which Other amounts receivable: +€1,811
- Reserves +€1,745
up €1,745 (+7.4%), from €23,639 to €25,384
- Other debts -€710
no longer reported in 2025 (was €710)
- Gross operating margin -€6,994
down €6,994 (-47.0%), from €14,893 to €7,899
- Taxes -€1,428
down €1,428 (-60.9%), from €2,345 to €916
- Depreciation +€1,106
up €1,106 (+51.1%), from €2,166 to €3,272
- Other operating charges +€651
new in 2025: €651
- Financial charges -€315
down €315 (-19.3%), from €1,635 to €1,320
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,573 | €35,493 | +€920 | +2.7% |
| Fixed assets | 21/28 | €4,777 | €10,641 | +€5,864 | +123% |
| Tangible fixed assets | 22/27 | €4,731 | €10,595 | +€5,864 | +124% |
| Plant, machinery and equipment | 23 | €700 | €7,766 | +€7,066 | +1,009% |
| Furniture and vehicles | 24 | €4,031 | €2,829 | -€1,202 | -29.8% |
| Financial fixed assets | 28 | €46 | €46 | = | 0.0% |
| Current assets | 29/58 | €29,796 | €24,852 | -€4,943 | -16.6% |
| Amounts receivable within one year | 40/41 | €8,182 | €9,143 | +€962 | +11.8% |
| Trade receivables | 40 | €1,831 | €982 | -€849 | -46.4% |
| Other amounts receivable | 41 | €6,351 | €8,161 | +€1,811 | +28.5% |
| Cash at bank and in hand | 54/58 | €21,614 | €15,709 | -€5,905 | -27.3% |
| Total equity and liabilities | 10/49 | €34,573 | €35,493 | +€920 | +2.7% |
| Equity | 10/15 | €33,639 | €35,384 | +€1,745 | +5.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €23,639 | €25,384 | +€1,745 | +7.4% |
| Distributable reserves | 133 | €23,639 | €25,384 | +€1,745 | +7.4% |
| Amounts payable | 17/49 | €934 | €109 | -€825 | -88.3% |
| Amounts payable within one year | 42/48 | €934 | €109 | -€825 | -88.3% |
| Trade debts | 44 | €150 | €35 | -€115 | -76.6% |
| Suppliers | 440/4 | €150 | €35 | -€115 | -76.6% |
| Taxes, remuneration and social security | 45 | €74 | €74 | = | 0.0% |
| Taxes | 450/3 | €74 | €74 | = | 0.0% |
| Other amounts payable | 47/48 | €710 | - | -€710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,166 | €3,272 | +€1,106 | +51.1% |
| Other operating charges | 640/8 | - | €651 | +€651 | |
| Non-recurring operating charges | 66A | €698 | - | -€698 | |
| Gross operating margin | 9900 | €14,893 | €7,899 | -€6,994 | -47.0% |
| Operating profit (loss) | 9901 | €12,029 | €3,976 | -€8,053 | -66.9% |
| Financial income | 75/76B | €220 | €5 | -€214 | -97.5% |
| Recurring financial income | 75 | €220 | €5 | -€214 | -97.5% |
| Financial charges | 65/66B | €1,635 | €1,320 | -€315 | -19.3% |
| Recurring financial charges | 65 | €1,635 | €1,320 | -€315 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €10,614 | €2,662 | -€7,952 | -74.9% |
| Income taxes | 67/77 | €2,345 | €916 | -€1,428 | -60.9% |
| Profit (loss) for the period | 9904 | €8,269 | €1,745 | -€6,524 | -78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,269 | €1,745 | -€6,524 | -78.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.