VDW KINE: 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 KINE
Largest movements
- Cash +€50,995
up €50,995 (+58.0%), from €87,965 to €138,960
mainly Net result for the year (+€64,621) and Other debts (+€34,131)
- Receivables within one year +€17,469
up €17,469 (+44.7%), from €39,071 to €56,540
of which Trade receivables: +€12,238
- Other debts +€34,131
up €34,131 (+1,190%), from €2,869 to €37,000
- Reserves +€27,600
up €27,600 (+28.0%), from €98,500 to €126,100
- Tax, wage and social debts +€6,266
up €6,266 (+62.0%), from €10,113 to €16,379
- Gross operating margin +€39,120
up €39,120 (+75.8%), from €51,602 to €90,723
- Taxes +€10,733
up €10,733 (+73.8%), from €14,550 to €25,282
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 | €127,520 | €195,538 | +€68,018 | +53.3% |
| Fixed assets | 21/28 | €485 | €39 | -€446 | -92.0% |
| Tangible fixed assets | 22/27 | €485 | €39 | -€446 | -92.0% |
| Furniture and vehicles | 24 | €485 | €39 | -€446 | -92.0% |
| Current assets | 29/58 | €127,035 | €195,500 | +€68,464 | +53.9% |
| Amounts receivable within one year | 40/41 | €39,071 | €56,540 | +€17,469 | +44.7% |
| Trade receivables | 40 | €39,071 | €51,309 | +€12,238 | +31.3% |
| Other amounts receivable | 41 | - | €5,231 | +€5,231 | |
| Cash at bank and in hand | 54/58 | €87,965 | €138,960 | +€50,995 | +58.0% |
| Total equity and liabilities | 10/49 | €127,520 | €195,538 | +€68,018 | +53.3% |
| Equity | 10/15 | €114,539 | €142,159 | +€27,621 | +24.1% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €98,500 | €126,100 | +€27,600 | +28.0% |
| Distributable reserves | 133 | €98,500 | €126,100 | +€27,600 | +28.0% |
| Profit (loss) carried forward | 14 | €1,779 | €1,799 | +€21 | +1.2% |
| Amounts payable | 17/49 | €12,982 | €53,379 | +€40,397 | +311% |
| Amounts payable within one year | 42/48 | €12,982 | €53,379 | +€40,397 | +311% |
| Taxes, remuneration and social security | 45 | €10,113 | €16,379 | +€6,266 | +62.0% |
| Taxes | 450/3 | €10,113 | €16,379 | +€6,266 | +62.0% |
| Other amounts payable | 47/48 | €2,869 | €37,000 | +€34,131 | +1,190% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €863 | €446 | -€417 | -48.3% |
| Other operating charges | 640/8 | €1,034 | €939 | -€95 | -9.2% |
| Gross operating margin | 9900 | €51,602 | €90,723 | +€39,120 | +75.8% |
| Operating profit (loss) | 9901 | €49,705 | €89,337 | +€39,632 | +79.7% |
| Financial income | 75/76B | €132 | €610 | +€478 | +362% |
| Recurring financial income | 75 | €132 | €610 | +€478 | +362% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €49,792 | €89,903 | +€40,110 | +80.6% |
| Income taxes | 67/77 | €14,550 | €25,282 | +€10,733 | +73.8% |
| Profit (loss) for the period | 9904 | €35,243 | €64,621 | +€29,378 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,243 | €64,621 | +€29,378 | +83.4% |
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.