VDW AUTOMATICS: 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.
VDW AUTOMATICS
Largest movements
- Cash +€45,929
up €45,929 (+55.9%), from €82,189 to €128,119
mainly Depreciation (+€64,584) and Advances received (+€48,703)
- Receivables within one year -€11,022
down €11,022 (-21.2%), from €51,910 to €40,888
of which Trade receivables: -€19,422
- Tangible fixed assets -€10,577
down €10,577 (-4.0%), from €264,222 to €253,646
of which Land and buildings: -€10,989
- Stocks and contracts -€9,845
down €9,845 (-28.4%), from €34,678 to €24,833
of which Stocks: -€9,845
- Advances received +€48,703
new in 2025: €48,703
- Reserves -€38,497
down €38,497 (-15.2%), from €253,070 to €214,573
- Current portion of long-term debt +€6,545
up €6,545 (+29.2%), from €22,448 to €28,992
- Depreciation +€9,558
up €9,558 (+17.4%), from €55,027 to €64,584
- Gross operating margin -€8,667
down €8,667 (-6.5%), from €133,943 to €125,275
- Staff costs +€4,343
up €4,343 (+17.0%), from €25,513 to €29,856
- Taxes -€2,373
down €2,373 (-26.8%), from €8,847 to €6,474
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 | €436,414 | €450,770 | +€14,356 | +3.3% |
| Fixed assets | 21/28 | €264,342 | €253,766 | -€10,577 | -4.0% |
| Tangible fixed assets | 22/27 | €264,222 | €253,646 | -€10,577 | -4.0% |
| Land and buildings | 22 | €123,608 | €112,619 | -€10,989 | -8.9% |
| Plant, machinery and equipment | 23 | €12,510 | €7,618 | -€4,892 | -39.1% |
| Furniture and vehicles | 24 | €121,752 | €128,918 | +€7,166 | +5.9% |
| Leasing and similar rights | 25 | €5,031 | €0 | -€5,031 | -100% |
| Other tangible fixed assets | 26 | €1,322 | €4,491 | +€3,170 | +240% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €172,072 | €197,005 | +€24,933 | +14.5% |
| Stocks and contracts in progress | 3 | €34,678 | €24,833 | -€9,845 | -28.4% |
| Stocks | 30/36 | €34,678 | €24,833 | -€9,845 | -28.4% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €51,910 | €40,888 | -€11,022 | -21.2% |
| Trade receivables | 40 | €44,555 | €25,133 | -€19,422 | -43.6% |
| Other amounts receivable | 41 | €7,354 | €15,754 | +€8,400 | +114% |
| Cash at bank and in hand | 54/58 | €82,189 | €128,119 | +€45,929 | +55.9% |
| Deferred charges and accrued income | 490/1 | €3,296 | €3,166 | -€130 | -3.9% |
| Total equity and liabilities | 10/49 | €436,414 | €450,770 | +€14,356 | +3.3% |
| Equity | 10/15 | €271,670 | €233,173 | -€38,497 | -14.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €253,070 | €214,573 | -€38,497 | -15.2% |
| Distributable reserves | 133 | €253,070 | €214,573 | -€38,497 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €164,745 | €217,597 | +€52,853 | +32.1% |
| Amounts payable after more than one year | 17 | €122,141 | €118,943 | -€3,199 | -2.6% |
| Financial debts | 170/4 | €122,141 | €118,943 | -€3,199 | -2.6% |
| Amounts payable within one year | 42/48 | €42,603 | €98,654 | +€56,051 | +132% |
| Current portion of amounts payable after more than one year | 42 | €22,448 | €28,992 | +€6,545 | +29.2% |
| Trade debts | 44 | €16,513 | €16,982 | +€469 | +2.8% |
| Suppliers | 440/4 | €16,513 | €16,982 | +€469 | +2.8% |
| Advances received on contracts in progress | 46 | - | €48,703 | +€48,703 | |
| Taxes, remuneration and social security | 45 | €3,642 | €3,977 | +€335 | +9.2% |
| Taxes | 450/3 | €59 | €0 | -€59 | -100% |
| Remuneration and social security | 454/9 | €3,584 | €3,977 | +€393 | +11.0% |
| Non-recurring operating income | 76A | €8,264 | €2,480 | -€5,784 | -70.0% |
| Remuneration, social security and pensions | 62 | €25,513 | €29,856 | +€4,343 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,027 | €64,584 | +€9,558 | +17.4% |
| Other operating charges | 640/8 | €3,115 | €3,383 | +€268 | +8.6% |
| Gross operating margin | 9900 | €133,943 | €125,275 | -€8,667 | -6.5% |
| Operating profit (loss) | 9901 | €50,289 | €27,453 | -€22,836 | -45.4% |
| Financial income | 75/76B | €394 | €5 | -€389 | -98.7% |
| Recurring financial income | 75 | €394 | €5 | -€389 | -98.7% |
| Financial charges | 65/66B | €4,430 | €4,792 | +€362 | +8.2% |
| Recurring financial charges | 65 | €4,430 | €4,792 | +€362 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €46,252 | €22,666 | -€23,587 | -51.0% |
| Income taxes | 67/77 | €8,847 | €6,474 | -€2,373 | -26.8% |
| Profit (loss) for the period | 9904 | €37,406 | €16,192 | -€21,214 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,406 | €16,192 | -€21,214 | -56.7% |
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 19 October 2026 via checked.be.