VDWpro: 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.
VDWpro
Largest movements
- Receivables within one year +€156,608
up €156,608 (+597.6%), from €26,206 to €182,815
of which Trade receivables: +€150,391
- Tangible fixed assets +€138,933
up €138,933, from €0 to €138,933
of which Land and buildings: +€130,356
- Cash -€18,779
down €18,779 (-95.3%), from €19,697 to €918
mainly Receivables within one year (-€156,608) and Investment in fixed assets (net) (-€142,602)
- Trade debts +€145,211
up €145,211 (+64335.4%), from €226 to €145,437
- Debts after one year +€103,635
new in 2025: €103,635
- Other debts +€30,000
new in 2025: €30,000
- Reserves -€11,937
down €11,937 (-37.9%), from €31,524 to €19,587
- Current portion of long-term debt +€9,578
new in 2025: €9,578
- Gross operating margin +€9,426
up €9,426 (+143.7%), from €6,558 to €15,984
- Other operating charges +€3,811
up €3,811 (+397.7%), from €958 to €4,769
- Depreciation +€3,336
up €3,336 (+1002.9%), from €333 to €3,669
- Financial charges +€2,199
up €2,199 (+221.2%), from €994 to €3,194
- Taxes +€515
up €515 (+24.7%), from €2,087 to €2,602
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 | €46,134 | €323,103 | +€276,969 | +600.4% |
| Fixed assets | 21/28 | €0 | €138,933 | +€138,933 | |
| Tangible fixed assets | 22/27 | €0 | €138,933 | +€138,933 | |
| Land and buildings | 22 | - | €130,356 | +€130,356 | |
| Furniture and vehicles | 24 | €0 | €8,578 | +€8,578 | |
| Current assets | 29/58 | €46,134 | €184,169 | +€138,036 | +299.2% |
| Amounts receivable within one year | 40/41 | €26,206 | €182,815 | +€156,608 | +597.6% |
| Trade receivables | 40 | €21,712 | €172,103 | +€150,391 | +692.7% |
| Other amounts receivable | 41 | €4,495 | €10,712 | +€6,217 | +138.3% |
| Cash at bank and in hand | 54/58 | €19,697 | €918 | -€18,779 | -95.3% |
| Deferred charges and accrued income | 490/1 | €230 | €436 | +€206 | +89.7% |
| Total equity and liabilities | 10/49 | €46,134 | €323,103 | +€276,969 | +600.4% |
| Equity | 10/15 | €38,719 | €24,587 | -€14,132 | -36.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €31,524 | €19,587 | -€11,937 | -37.9% |
| Distributable reserves | 133 | €31,524 | €19,587 | -€11,937 | -37.9% |
| Profit (loss) carried forward | 14 | €2,195 | €0 | -€2,195 | -100.0% |
| Amounts payable | 17/49 | €7,415 | €298,516 | +€291,101 | +3925.9% |
| Amounts payable after more than one year | 17 | - | €103,635 | +€103,635 | |
| Financial debts | 170/4 | - | €103,635 | +€103,635 | |
| Amounts payable within one year | 42/48 | €7,415 | €194,881 | +€187,466 | +2528.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,578 | +€9,578 | |
| Trade debts | 44 | €226 | €145,437 | +€145,211 | +64335.4% |
| Suppliers | 440/4 | €226 | €145,437 | +€145,211 | +64335.4% |
| Taxes, remuneration and social security | 45 | €7,189 | €9,865 | +€2,676 | +37.2% |
| Taxes | 450/3 | €7,189 | €7,347 | +€158 | +2.2% |
| Remuneration and social security | 454/9 | €0 | €2,518 | +€2,518 | |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333 | €3,669 | +€3,336 | +1002.9% |
| Other operating charges | 640/8 | €958 | €4,769 | +€3,811 | +397.7% |
| Gross operating margin | 9900 | €6,558 | €15,984 | +€9,426 | +143.7% |
| Operating profit (loss) | 9901 | €5,267 | €7,546 | +€2,279 | +43.3% |
| Financial income | 75/76B | €9 | €1 | -€8 | -91.7% |
| Recurring financial income | 75 | €9 | €1 | -€8 | -91.7% |
| Financial charges | 65/66B | €994 | €3,194 | +€2,199 | +221.2% |
| Recurring financial charges | 65 | €994 | €3,194 | +€2,199 | +221.2% |
| Profit (loss) for the period before taxes | 9903 | €4,282 | €4,353 | +€71 | +1.7% |
| Income taxes | 67/77 | €2,087 | €2,602 | +€515 | +24.7% |
| Profit (loss) for the period | 9904 | €2,195 | €1,751 | -€444 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,195 | €1,751 | -€444 | -20.2% |
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 10 October 2026 via checked.be.