VDW HOLDING: 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 HOLDING
Largest movements
- Cash -€9,435
down €9,435 (-95.7%), from €9,859 to €424
mainly Net result for the year (-€6,552) and Current portion of long-term debt (-€3,157)
- Profit (loss) carried forward -€6,552
down €6,552, from €3,731 to -€2,821
- Current portion of long-term debt -€3,157
no longer reported in 2025 (was €3,157)
- Gross operating margin +€17,625
up €17,625 (+48.4%), from -€36,429 to -€18,804
- Financial income +€13,800
new in 2025: €13,800
- Other operating charges +€418
up €418 (+53.3%), from €785 to €1,203
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 | €239,859 | €230,424 | -€9,435 | -3.9% |
| Current assets | 29/58 | €239,859 | €230,424 | -€9,435 | -3.9% |
| Amounts receivable after more than one year | 29 | €230,000 | €230,000 | = | 0.0% |
| Trade receivables | 290 | €230,000 | €230,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,859 | €424 | -€9,435 | -95.7% |
| Total equity and liabilities | 10/49 | €239,859 | €230,424 | -€9,435 | -3.9% |
| Equity | 10/15 | €213,238 | €206,686 | -€6,552 | -3.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €144,507 | €144,507 | = | 0.0% |
| Distributable reserves | 133 | €144,507 | €144,507 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,731 | -€2,821 | -€6,552 | |
| Amounts payable | 17/49 | €26,620 | €23,738 | -€2,882 | -10.8% |
| Amounts payable within one year | 42/48 | €26,620 | €23,738 | -€2,882 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €3,157 | - | -€3,157 | |
| Other amounts payable | 47/48 | €23,463 | €23,738 | +€275 | +1.2% |
| Other operating charges | 640/8 | €785 | €1,203 | +€418 | +53.3% |
| Gross operating margin | 9900 | -€36,429 | -€18,804 | +€17,625 | +48.4% |
| Operating profit (loss) | 9901 | -€37,214 | -€20,007 | +€17,206 | +46.2% |
| Financial income | 75/76B | - | €13,800 | +€13,800 | |
| Recurring financial income | 75 | - | €13,800 | +€13,800 | |
| Financial charges | 65/66B | €480 | €345 | -€135 | -28.1% |
| Recurring financial charges | 65 | €480 | €345 | -€135 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€37,693 | -€6,552 | +€31,141 | +82.6% |
| Profit (loss) for the period | 9904 | -€37,693 | -€6,552 | +€31,141 | +82.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,693 | -€6,552 | +€31,141 | +82.6% |
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 22 October 2026 via checked.be.