VdW INTERNATIONAL: what changed
What changed
VdW INTERNATIONAL
NACE 93.293, Sports, amusement and recreation activities
filed annual accounts (NBB)
Net result for the year
€21,250
2024 · €44,077-€22,827
Equity
€921,181
2024 · €899,931+€21,250
Cash
€67,198
2024 · €170,512-€103,314
Balance sheet total
€2.9m
2024 · €2.6m+€234,372
Largest movements
Assets
- Receivables within one year +€192,131
up €192,131 (+36.5%), from €526,653 to €718,784
of which Trade receivables: +€156,630
- Tangible fixed assets +€109,445
up €109,445 (+380%), from €28,831 to €138,276
of which Furniture and vehicles: +€112,613
- Cash -€103,314
down €103,314 (-60.6%), from €170,512 to €67,198
mainly Receivables within one year (-€192,131) and Investment in fixed assets (net) (-€141,922)
- Stocks and contracts +€40,110
up €40,110 (+2.1%), from €1.9m to €1.9m
Equity and liabilities
- Trade debts +€149,406
up €149,406 (+30.5%), from €490,004 to €639,410
- Short-term financial debts -€125,255
down €125,255 (-26.4%), from €475,255 to €350,000
- Current portion of long-term debt +€101,194
up €101,194 (+1,392%), from €7,268 to €108,462
- Advances received +€79,418
up €79,418 (+17.8%), from €446,858 to €526,276
Income statement
- Purchases and services +€1.3m
up €1.3m (+43.1%), from €3.1m to €4.4m
- Other operating charges -€41,903
down €41,903 (-29.4%), from €142,704 to €100,802
- Staff costs +€40,393
up €40,393 (+3.2%), from €1.3m to €1.3m
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.
Result 2024
€44,077
Gross operating margin
-€11,788
Staff costs
-€40,393
Depreciation
-€5,548
Other operating charges
+€41,903
Financial income
-€11,557
Financial charges
+€4,448
Taxes
+€109
Result 2025
€21,250
raises the resultlowers the result
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.
From operations
+€62,669
Investment
-€141,922
Financing
-€24,060
Cash 2024
€170,512
From operations (derived)
+€62,669
Net result for the year
+€21,250
Depreciation
+€36,477
Stocks and contracts
-€40,110
Receivables within one year
-€192,131
Trade debts
+€149,406
Tax, wage and social debts
-€19,698
Advances received
+€79,418
Other debts
+€28,057
Investment (derived)
-€141,922
Investment in fixed assets (net)
-€141,922
Financing
-€24,060
Current portion of long-term debt
+€101,194
Short-term financial debts
-€125,255
Cash 2025
€67,198
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,649,198 | €2,883,570 | +€234,372 | +8.8% |
| Fixed assets | 21/28 | €59,166 | €164,612 | +€105,445 | +178% |
| Intangible fixed assets | 21 | €29,892 | €25,892 | -€4,000 | -13.4% |
| Tangible fixed assets | 22/27 | €28,831 | €138,276 | +€109,445 | +380% |
| Land and buildings | 22 | - | €2,321 | +€2,321 | |
| Plant, machinery and equipment | 23 | €5,489 | - | -€5,489 | |
| Furniture and vehicles | 24 | €23,342 | €135,955 | +€112,613 | +482% |
| Financial fixed assets | 28 | €444 | €444 | = | 0.0% |
| Current assets | 29/58 | €2,590,031 | €2,718,958 | +€128,927 | +5.0% |
| Stocks and contracts in progress | 3 | €1,892,867 | €1,932,977 | +€40,110 | +2.1% |
| Stocks | 30/36 | €1,892,867 | €1,932,977 | +€40,110 | +2.1% |
| Amounts receivable within one year | 40/41 | €526,653 | €718,784 | +€192,131 | +36.5% |
| Trade receivables | 40 | €344,008 | €500,638 | +€156,630 | +45.5% |
| Other amounts receivable | 41 | €182,645 | €218,146 | +€35,501 | +19.4% |
| Cash at bank and in hand | 54/58 | €170,512 | €67,198 | -€103,314 | -60.6% |
| Total equity and liabilities | 10/49 | €2,649,198 | €2,883,570 | +€234,372 | +8.8% |
| Equity | 10/15 | €899,931 | €921,181 | +€21,250 | +2.4% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Capital | 10 | €92,960 | €92,960 | = | 0.0% |
| Issued capital | 100 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €670,540 | €670,540 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,895 | €11,895 | = | 0.0% |
| Legal reserve | 130 | €9,296 | €9,296 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,599 | €2,599 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,645 | €72,645 | = | 0.0% |
| Distributable reserves | 133 | €586,000 | €586,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,431 | €157,681 | +€21,250 | +15.6% |
| Amounts payable | 17/49 | €1,749,266 | €1,962,389 | +€213,122 | +12.2% |
| Amounts payable after more than one year | 17 | €176,000 | €176,000 | = | 0.0% |
| Financial debts | 170/4 | €176,000 | €176,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,573,266 | €1,786,389 | +€213,122 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €7,268 | €108,462 | +€101,194 | +1,392% |
| Financial debts | 43 | €475,255 | €350,000 | -€125,255 | -26.4% |
| Credit institutions | 430/8 | €475,255 | €350,000 | -€125,255 | -26.4% |
| Trade debts | 44 | €490,004 | €639,410 | +€149,406 | +30.5% |
| Suppliers | 440/4 | €490,004 | €639,410 | +€149,406 | +30.5% |
| Advances received on contracts in progress | 46 | €446,858 | €526,276 | +€79,418 | +17.8% |
| Taxes, remuneration and social security | 45 | €124,798 | €105,100 | -€19,698 | -15.8% |
| Taxes | 450/3 | €7,351 | - | -€7,351 | |
| Remuneration and social security | 454/9 | €117,447 | €105,100 | -€12,346 | -10.5% |
| Other amounts payable | 47/48 | €29,083 | €57,140 | +€28,057 | +96.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,106,308 | €4,445,810 | +€1.3m | +43.1% |
| Remuneration, social security and pensions | 62 | €1,261,226 | €1,301,619 | +€40,393 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,929 | €36,477 | +€5,548 | +17.9% |
| Other operating charges | 640/8 | €142,704 | €100,802 | -€41,903 | -29.4% |
| Gross operating margin | 9900 | €1,499,946 | €1,488,158 | -€11,788 | -0.8% |
| Operating profit (loss) | 9901 | €65,087 | €49,261 | -€15,826 | -24.3% |
| Financial income | 75/76B | €20,814 | €9,256 | -€11,557 | -55.5% |
| Recurring financial income | 75 | €20,814 | €9,256 | -€11,557 | -55.5% |
| Financial charges | 65/66B | €41,714 | €37,266 | -€4,448 | -10.7% |
| Recurring financial charges | 65 | €41,714 | €37,266 | -€4,448 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €44,187 | €21,251 | -€22,935 | -51.9% |
| Income taxes | 67/77 | €110 | €1 | -€109 | -98.7% |
| Profit (loss) for the period | 9904 | €44,077 | €21,250 | -€22,827 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,077 | €21,250 | -€22,827 | -51.8% |
Next steps
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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 5 November 2026 via checked.be.