VDW Technics: 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 Technics
Largest movements
- Tangible fixed assets -€92,443
down €92,443 (-13.6%), from €681,123 to €588,680
of which Plant, machinery and equipment: -€48,308
- Current investments -€69,262
down €69,262 (-67.9%), from €101,943 to €32,681
- Stocks and contracts +€27,700
up €27,700 (+74.5%), from €37,200 to €64,900
- Cash -€19,836
down €19,836 (-50.0%), from €39,685 to €19,849
mainly Other debts (-€86,269) and Debts after one year (-€70,393)
- Receivables within one year +€15,941
up €15,941 (+12.8%), from €124,857 to €140,798
of which Trade receivables: +€15,912
- Other debts -€86,269
down €86,269 (-63.5%), from €135,811 to €49,542
- Debts after one year -€70,393
down €70,393 (-35.3%), from €199,223 to €128,831
- Reserves +€47,353
up €47,353 (+10.6%), from €444,679 to €492,032
of which Distributable reserves: +€47,353
- Tax, wage and social debts -€18,024
down €18,024 (-38.2%), from €47,202 to €29,178
of which Taxes: -€18,530
- Accrued charges and deferred income -€10,443
no longer reported in 2025 (was €10,443)
- Gross operating margin -€36,113
down €36,113 (-11.0%), from €329,096 to €292,984
- Staff costs +€20,557
up €20,557 (+31.6%), from €64,961 to €85,518
- Taxes -€16,676
down €16,676 (-36.5%), from €45,730 to €29,053
- Financial income +€14,742
up €14,742 (+1,432%), from €1,030 to €15,771
- Depreciation +€7,812
up €7,812 (+7.9%), from €99,047 to €106,859
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 | €992,732 | €855,709 | -€137,023 | -13.8% |
| Fixed assets | 21/28 | €681,596 | €588,680 | -€92,916 | -13.6% |
| Tangible fixed assets | 22/27 | €681,123 | €588,680 | -€92,443 | -13.6% |
| Land and buildings | 22 | €250,115 | €232,233 | -€17,882 | -7.1% |
| Plant, machinery and equipment | 23 | €306,063 | €257,755 | -€48,308 | -15.8% |
| Furniture and vehicles | 24 | €86,182 | €71,821 | -€14,361 | -16.7% |
| Leasing and similar rights | 25 | €38,763 | €26,870 | -€11,893 | -30.7% |
| Financial fixed assets | 28 | €473 | - | -€473 | |
| Current assets | 29/58 | €311,137 | €267,029 | -€44,107 | -14.2% |
| Stocks and contracts in progress | 3 | €37,200 | €64,900 | +€27,700 | +74.5% |
| Stocks | 30/36 | €37,200 | €64,900 | +€27,700 | +74.5% |
| Amounts receivable within one year | 40/41 | €124,857 | €140,798 | +€15,941 | +12.8% |
| Trade receivables | 40 | €124,828 | €140,741 | +€15,912 | +12.7% |
| Other amounts receivable | 41 | €29 | €57 | +€29 | +100% |
| Current investments | 50/53 | €101,943 | €32,681 | -€69,262 | -67.9% |
| Cash at bank and in hand | 54/58 | €39,685 | €19,849 | -€19,836 | -50.0% |
| Deferred charges and accrued income | 490/1 | €7,452 | €8,803 | +€1,351 | +18.1% |
| Total equity and liabilities | 10/49 | €992,732 | €855,709 | -€137,023 | -13.8% |
| Equity | 10/15 | €468,613 | €515,965 | +€47,353 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €444,679 | €492,032 | +€47,353 | +10.6% |
| Tax-exempt reserves | 132 | €7,600 | €7,600 | = | 0.0% |
| Distributable reserves | 133 | €437,079 | €484,432 | +€47,353 | +10.8% |
| Profit (loss) carried forward | 14 | €5,334 | €5,334 | = | 0.0% |
| Amounts payable | 17/49 | €524,120 | €339,744 | -€184,376 | -35.2% |
| Amounts payable after more than one year | 17 | €199,223 | €128,831 | -€70,393 | -35.3% |
| Financial debts | 170/4 | €199,223 | €128,831 | -€70,393 | -35.3% |
| Amounts payable within one year | 42/48 | €314,454 | €210,913 | -€103,541 | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €68,696 | €70,393 | +€1,697 | +2.5% |
| Trade debts | 44 | €62,745 | €61,801 | -€944 | -1.5% |
| Suppliers | 440/4 | €62,745 | €61,801 | -€944 | -1.5% |
| Taxes, remuneration and social security | 45 | €47,202 | €29,178 | -€18,024 | -38.2% |
| Taxes | 450/3 | €40,721 | €22,190 | -€18,530 | -45.5% |
| Remuneration and social security | 454/9 | €6,481 | €6,987 | +€507 | +7.8% |
| Other amounts payable | 47/48 | €135,811 | €49,542 | -€86,269 | -63.5% |
| Accrued charges and deferred income | 492/3 | €10,443 | - | -€10,443 | |
| Remuneration, social security and pensions | 62 | €64,961 | €85,518 | +€20,557 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,047 | €106,859 | +€7,812 | +7.9% |
| Other operating charges | 640/8 | €6,063 | €1,063 | -€5,000 | -82.5% |
| Non-recurring operating charges | 66A | - | €5 | +€5 | |
| Gross operating margin | 9900 | €329,096 | €292,984 | -€36,113 | -11.0% |
| Operating profit (loss) | 9901 | €159,025 | €99,539 | -€59,486 | -37.4% |
| Financial income | 75/76B | €1,030 | €15,771 | +€14,742 | +1,432% |
| Recurring financial income | 75 | €1,030 | €15,771 | +€14,742 | +1,432% |
| Financial charges | 65/66B | €6,157 | €6,505 | +€348 | +5.6% |
| Recurring financial charges | 65 | €6,157 | €6,505 | +€348 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €153,898 | €108,806 | -€45,092 | -29.3% |
| Income taxes | 67/77 | €45,730 | €29,053 | -€16,676 | -36.5% |
| Profit (loss) for the period | 9904 | €108,169 | €79,753 | -€28,416 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,169 | €79,753 | -€28,416 | -26.3% |
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 13 October 2026 via checked.be.