VDW PLANT: 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 PLANT
Largest movements
- Deferred charges and accrued income -€326,798
down €326,798 (-98.4%), from €332,000 to €5,202
- Receivables within one year +€104,056
up €104,056 (+121%), from €85,945 to €190,001
of which Trade receivables: +€95,764
- Cash +€38,730
up €38,730 (+71.7%), from €54,004 to €92,734
mainly Deferred charges and accrued income (+€326,798) and Depreciation (+€60,419)
- Stocks and contracts -€18,950
down €18,950 (-5.0%), from €375,550 to €356,600
- Tangible fixed assets -€11,306
down €11,306 (-5.8%), from €195,739 to €184,433
of which Plant, machinery and equipment: -€7,446
- Other debts -€286,338
no longer reported in 2025 (was €286,338)
- Tax, wage and social debts +€54,805
up €54,805 (+145%), from €37,720 to €92,525
of which Taxes: +€36,377
- Trade debts +€38,604
up €38,604 (+221%), from €17,504 to €56,108
- Debts after one year -€12,716
down €12,716 (-18.8%), from €67,500 to €54,784
- Staff costs +€27,088
up €27,088 (+9.4%), from €288,443 to €315,531
- Gross operating margin +€26,261
up €26,261 (+7.0%), from €377,148 to €403,409
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 | €1,083,330 | €880,062 | -€203,268 | -18.8% |
| Fixed assets | 21/28 | €195,739 | €184,433 | -€11,306 | -5.8% |
| Tangible fixed assets | 22/27 | €195,739 | €184,433 | -€11,306 | -5.8% |
| Land and buildings | 22 | €87,907 | €83,885 | -€4,022 | -4.6% |
| Plant, machinery and equipment | 23 | €24,406 | €16,960 | -€7,446 | -30.5% |
| Furniture and vehicles | 24 | €83,426 | €83,588 | +€162 | +0.2% |
| Current assets | 29/58 | €887,591 | €695,629 | -€191,962 | -21.6% |
| Stocks and contracts in progress | 3 | €375,550 | €356,600 | -€18,950 | -5.0% |
| Stocks | 30/36 | €375,550 | €356,600 | -€18,950 | -5.0% |
| Amounts receivable within one year | 40/41 | €85,945 | €190,001 | +€104,056 | +121% |
| Trade receivables | 40 | €82,562 | €178,326 | +€95,764 | +116% |
| Other amounts receivable | 41 | €3,383 | €11,675 | +€8,292 | +245% |
| Current investments | 50/53 | €40,092 | €51,092 | +€11,000 | +27.4% |
| Cash at bank and in hand | 54/58 | €54,004 | €92,734 | +€38,730 | +71.7% |
| Deferred charges and accrued income | 490/1 | €332,000 | €5,202 | -€326,798 | -98.4% |
| Total equity and liabilities | 10/49 | €1,083,330 | €880,062 | -€203,268 | -18.8% |
| Equity | 10/15 | €629,554 | €640,261 | +€10,707 | +1.7% |
| Contributions | 10/11 | €176,200 | €176,200 | = | 0.0% |
| Reserves | 13 | €233,605 | €244,312 | +€10,707 | +4.6% |
| Distributable reserves | 133 | €233,605 | €244,312 | +€10,707 | +4.6% |
| Profit (loss) carried forward | 14 | €219,749 | €219,749 | = | 0.0% |
| Amounts payable | 17/49 | €453,776 | €239,801 | -€213,975 | -47.2% |
| Amounts payable after more than one year | 17 | €67,500 | €54,784 | -€12,716 | -18.8% |
| Financial debts | 170/4 | €67,500 | €54,784 | -€12,716 | -18.8% |
| Amounts payable within one year | 42/48 | €386,276 | €185,017 | -€201,259 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €44,714 | €36,384 | -€8,330 | -18.6% |
| Trade debts | 44 | €17,504 | €56,108 | +€38,604 | +221% |
| Suppliers | 440/4 | €17,504 | €56,108 | +€38,604 | +221% |
| Taxes, remuneration and social security | 45 | €37,720 | €92,525 | +€54,805 | +145% |
| Taxes | 450/3 | €12,198 | €48,575 | +€36,377 | +298% |
| Remuneration and social security | 454/9 | €25,522 | €43,950 | +€18,428 | +72.2% |
| Other amounts payable | 47/48 | €286,338 | - | -€286,338 | |
| Remuneration, social security and pensions | 62 | €288,443 | €315,531 | +€27,088 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,058 | €60,419 | -€1,639 | -2.6% |
| Other operating charges | 640/8 | €5,972 | €5,733 | -€239 | -4.0% |
| Gross operating margin | 9900 | €377,148 | €403,409 | +€26,261 | +7.0% |
| Operating profit (loss) | 9901 | €20,675 | €21,726 | +€1,051 | +5.1% |
| Financial income | 75/76B | €47 | €508 | +€461 | +981% |
| Recurring financial income | 75 | €47 | €508 | +€461 | +981% |
| Financial charges | 65/66B | €8,580 | €6,690 | -€1,890 | -22.0% |
| Recurring financial charges | 65 | €8,580 | €6,690 | -€1,890 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €12,142 | €15,544 | +€3,402 | +28.0% |
| Income taxes | 67/77 | €3,851 | €4,837 | +€986 | +25.6% |
| Profit (loss) for the period | 9904 | €8,291 | €10,707 | +€2,416 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,291 | €10,707 | +€2,416 | +29.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.