VDW Projects & Solutions: what changed
VDW Projects & Solutions
Largest movements
- Receivables within one year +€19,257
up €19,257 (+210%), from €9,174 to €28,431
of which Trade receivables: +€21,644
- Cash +€6,387
up €6,387 (+1,454%), from €439 to €6,827
mainly Net result for the year (+€15,431) and Tax, wage and social debts (+€12,922)
- Tangible fixed assets -€4,390
down €4,390 (-12.3%), from €35,794 to €31,405
- Profit (loss) carried forward +€15,431
up €15,431, from -€544 to €14,887
- Tax, wage and social debts +€12,922
up €12,922 (+127,439%), from €10 to €12,932
- Debts after one year -€8,137
down €8,137 (-33.1%), from €24,550 to €16,413
- Trade debts +€1,343
up €1,343 (+77.1%), from €1,742 to €3,085
- Gross operating margin +€30,940
up €30,940 (+3,460%), from €894 to €31,834
- Depreciation +€8,508
up €8,508 (+1,173%), from €725 to €9,234
- Taxes +€4,852
up €4,852 (+47,846%), from €10 to €4,862
- Financial charges +€1,010
up €1,010 (+390%), from €259 to €1,269
- Other operating charges +€541
up €541 (+122%), from €443 to €985
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,549 | €67,354 | +€21,805 | +47.9% |
| Fixed assets | 21/28 | €35,794 | €31,405 | -€4,390 | -12.3% |
| Tangible fixed assets | 22/27 | €35,794 | €31,405 | -€4,390 | -12.3% |
| Furniture and vehicles | 24 | €35,794 | €31,405 | -€4,390 | -12.3% |
| Current assets | 29/58 | €9,755 | €35,949 | +€26,195 | +269% |
| Amounts receivable within one year | 40/41 | €9,174 | €28,431 | +€19,257 | +210% |
| Trade receivables | 40 | €6,350 | €27,994 | +€21,644 | +341% |
| Other amounts receivable | 41 | €2,824 | €437 | -€2,387 | -84.5% |
| Cash at bank and in hand | 54/58 | €439 | €6,827 | +€6,387 | +1,454% |
| Deferred charges and accrued income | 490/1 | €141 | €691 | +€550 | +390% |
| Total equity and liabilities | 10/49 | €45,549 | €67,354 | +€21,805 | +47.9% |
| Equity | 10/15 | €4,456 | €19,887 | +€15,431 | +346% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€544 | €14,887 | +€15,431 | |
| Amounts payable | 17/49 | €41,093 | €47,467 | +€6,374 | +15.5% |
| Amounts payable after more than one year | 17 | €24,550 | €16,413 | -€8,137 | -33.1% |
| Financial debts | 170/4 | €24,550 | €16,413 | -€8,137 | -33.1% |
| Amounts payable within one year | 42/48 | €16,243 | €30,754 | +€14,511 | +89.3% |
| Current portion of amounts payable after more than one year | 42 | €7,858 | €8,137 | +€279 | +3.6% |
| Financial debts | 43 | - | €482 | +€482 | |
| Credit institutions | 430/8 | - | €482 | +€482 | |
| Trade debts | 44 | €1,742 | €3,085 | +€1,343 | +77.1% |
| Suppliers | 440/4 | €1,742 | €3,085 | +€1,343 | +77.1% |
| Taxes, remuneration and social security | 45 | €10 | €12,932 | +€12,922 | +127,439% |
| Taxes | 450/3 | €10 | €12,932 | +€12,922 | +127,439% |
| Other amounts payable | 47/48 | €6,633 | €6,119 | -€515 | -7.8% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €54 | +€54 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €725 | €9,234 | +€8,508 | +1,173% |
| Other operating charges | 640/8 | €443 | €985 | +€541 | +122% |
| Gross operating margin | 9900 | €894 | €31,834 | +€30,940 | +3,460% |
| Operating profit (loss) | 9901 | -€274 | €21,562 | +€21,837 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €259 | €1,269 | +€1,010 | +390% |
| Recurring financial charges | 65 | €259 | €1,269 | +€1,010 | +390% |
| Profit (loss) for the period before taxes | 9903 | -€534 | €20,293 | +€20,826 | |
| Income taxes | 67/77 | €10 | €4,862 | +€4,852 | +47,846% |
| Profit (loss) for the period | 9904 | -€544 | €15,431 | +€15,975 | |
| Profit (loss) for the period to be appropriated | 9905 | -€544 | €15,431 | +€15,975 |
Next steps
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 7 November 2026 via checked.be.