VDW LOGISTIC: 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 LOGISTIC
Largest movements
- Receivables within one year +€21,874
up €21,874 (+9.3%), from €235,136 to €257,010
of which Trade receivables: +€13,026
- Cash +€19,964
up €19,964 (+73.9%), from €27,025 to €46,989
mainly Net result for the year (+€163,626) and Depreciation (+€25,033)
- Deferred charges and accrued income -€9,415
down €9,415 (-78.2%), from €12,033 to €2,618
- Tangible fixed assets -€5,184
down €5,184 (-13.4%), from €38,650 to €33,466
of which Furniture and vehicles: -€6,356
- Intangible fixed assets +€4,301
up €4,301 (+13.5%), from €31,939 to €36,240
- Profit (loss) carried forward +€163,626
up €163,626 (+44.4%), from -€368,852 to -€205,226
- Trade debts -€133,491
down €133,491 (-25.7%), from €520,427 to €386,936
- Tax, wage and social debts +€4,980
up €4,980 (+11.3%), from €44,114 to €49,094
of which Taxes: +€18,608
- Gross operating margin +€369,469
up €369,469 (+286.7%), from €128,877 to €498,346
- Turnover +€368,375
up €368,375 (+40.2%), from €916,730 to €1.3m
- Staff costs +€116,506
up €116,506 (+61.8%), from €188,411 to €304,917
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.
Cash bridge derived
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 | €344,783 | €376,323 | +€31,540 | +9.1% |
| Fixed assets | 21/28 | €70,589 | €69,706 | -€883 | -1.3% |
| Intangible fixed assets | 21 | €31,939 | €36,240 | +€4,301 | +13.5% |
| Tangible fixed assets | 22/27 | €38,650 | €33,466 | -€5,184 | -13.4% |
| Plant, machinery and equipment | 23 | €8,042 | €14,566 | +€6,524 | +81.1% |
| Furniture and vehicles | 24 | €19,298 | €12,942 | -€6,356 | -32.9% |
| Leasing and similar rights | 25 | €5,867 | €1,467 | -€4,400 | -75.0% |
| Other tangible fixed assets | 26 | €5,443 | €4,491 | -€952 | -17.5% |
| Current assets | 29/58 | €274,194 | €306,617 | +€32,423 | +11.8% |
| Amounts receivable within one year | 40/41 | €235,136 | €257,010 | +€21,874 | +9.3% |
| Trade receivables | 40 | €235,136 | €248,162 | +€13,026 | +5.5% |
| Other amounts receivable | 41 | - | €8,848 | +€8,848 | |
| Cash at bank and in hand | 54/58 | €27,025 | €46,989 | +€19,964 | +73.9% |
| Deferred charges and accrued income | 490/1 | €12,033 | €2,618 | -€9,415 | -78.2% |
| Total equity and liabilities | 10/49 | €344,783 | €376,323 | +€31,540 | +9.1% |
| Equity | 10/15 | -€232,852 | -€69,226 | +€163,626 | +70.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €36,000 | €36,000 | = | 0.0% |
| Distributable reserves | 133 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€368,852 | -€205,226 | +€163,626 | +44.4% |
| Amounts payable | 17/49 | €577,635 | €445,549 | -€132,086 | -22.9% |
| Amounts payable after more than one year | 17 | €1,309 | - | -€1,309 | |
| Financial debts | 170/4 | €1,309 | - | -€1,309 | |
| Amounts payable within one year | 42/48 | €576,326 | €445,549 | -€130,777 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €4,356 | €2,035 | -€2,321 | -53.3% |
| Trade debts | 44 | €520,427 | €386,936 | -€133,491 | -25.7% |
| Suppliers | 440/4 | €520,427 | €386,936 | -€133,491 | -25.7% |
| Taxes, remuneration and social security | 45 | €44,114 | €49,094 | +€4,980 | +11.3% |
| Taxes | 450/3 | €2,432 | €21,040 | +€18,608 | +765.1% |
| Remuneration and social security | 454/9 | €41,682 | €28,054 | -€13,628 | -32.7% |
| Other amounts payable | 47/48 | €7,429 | €7,484 | +€55 | +0.7% |
| Turnover | 70 | €916,730 | €1,285,105 | +€368,375 | +40.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €787,853 | €786,759 | -€1,094 | -0.1% |
| Remuneration, social security and pensions | 62 | €188,411 | €304,917 | +€116,506 | +61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,598 | €25,033 | +€5,435 | +27.7% |
| Other operating charges | 640/8 | €1,116 | €4,644 | +€3,528 | +316.1% |
| Gross operating margin | 9900 | €128,877 | €498,346 | +€369,469 | +286.7% |
| Operating profit (loss) | 9901 | -€80,248 | €163,752 | +€244,000 | |
| Financial charges | 65/66B | €572 | €126 | -€446 | -78.0% |
| Recurring financial charges | 65 | €572 | €126 | -€446 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | -€80,820 | €163,626 | +€244,446 | |
| Income taxes | 67/77 | €19 | - | -€19 | |
| Profit (loss) for the period | 9904 | -€80,839 | €163,626 | +€244,465 | |
| Profit (loss) for the period to be appropriated | 9905 | -€80,839 | €163,626 | +€244,465 |
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 9 October 2026 via checked.be.