VISHANDEL VDW: 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.
VISHANDEL VDW
Largest movements
- Tangible fixed assets +€27,379
up €27,379 (+43.6%), from €62,850 to €90,229
of which Leasing and similar rights: +€50,877
- Cash +€25,554
up €25,554 (+44.8%), from €57,038 to €82,592
mainly Depreciation (+€40,892) and Trade debts (+€20,826)
- Intangible fixed assets -€5,575
down €5,575 (-12.9%), from €43,172 to €37,597
- Deferred charges and accrued income +€2,802
up €2,802 (+58.0%), from €4,834 to €7,636
- Trade debts +€20,826
up €20,826 (+59.7%), from €34,883 to €55,709
- Current portion of long-term debt +€10,595
up €10,595 (+42.1%), from €25,166 to €35,761
- Debts after one year +€8,387
up €8,387 (+18.3%), from €45,864 to €54,250
- Profit (loss) carried forward +€5,849
up €5,849 (+31.7%), from €18,458 to €24,307
- Tax, wage and social debts +€4,522
up €4,522 (+40.0%), from €11,296 to €15,818
of which Remuneration and social security: +€4,521
- Staff costs +€13,278
up €13,278 (+22.2%), from €59,774 to €73,051
- Depreciation +€11,349
up €11,349 (+38.4%), from €29,543 to €40,892
- Gross operating margin +€10,410
up €10,410 (+8.9%), from €117,409 to €127,819
- Taxes -€2,889
down €2,889 (-54.0%), from €5,351 to €2,462
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 | €177,242 | €225,860 | +€48,618 | +27.4% |
| Fixed assets | 21/28 | €106,097 | €127,901 | +€21,803 | +20.6% |
| Intangible fixed assets | 21 | €43,172 | €37,597 | -€5,575 | -12.9% |
| Tangible fixed assets | 22/27 | €62,850 | €90,229 | +€27,379 | +43.6% |
| Plant, machinery and equipment | 23 | €7,294 | €4,046 | -€3,248 | -44.5% |
| Furniture and vehicles | 24 | €55,556 | €35,305 | -€20,251 | -36.5% |
| Leasing and similar rights | 25 | - | €50,877 | +€50,877 | |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €71,145 | €97,960 | +€26,815 | +37.7% |
| Stocks and contracts in progress | 3 | €2,960 | €2,869 | -€91 | -3.1% |
| Stocks | 30/36 | €2,960 | €2,869 | -€91 | -3.1% |
| Amounts receivable within one year | 40/41 | €6,313 | €4,862 | -€1,451 | -23.0% |
| Trade receivables | 40 | €2,164 | €534 | -€1,629 | -75.3% |
| Other amounts receivable | 41 | €4,149 | €4,328 | +€179 | +4.3% |
| Cash at bank and in hand | 54/58 | €57,038 | €82,592 | +€25,554 | +44.8% |
| Deferred charges and accrued income | 490/1 | €4,834 | €7,636 | +€2,802 | +58.0% |
| Total equity and liabilities | 10/49 | €177,242 | €225,860 | +€48,618 | +27.4% |
| Equity | 10/15 | €58,458 | €64,307 | +€5,849 | +10.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,458 | €24,307 | +€5,849 | +31.7% |
| Amounts payable | 17/49 | €118,784 | €161,553 | +€42,769 | +36.0% |
| Amounts payable after more than one year | 17 | €45,864 | €54,250 | +€8,387 | +18.3% |
| Financial debts | 170/4 | €45,864 | €54,250 | +€8,387 | +18.3% |
| Amounts payable within one year | 42/48 | €72,294 | €107,303 | +€35,008 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €25,166 | €35,761 | +€10,595 | +42.1% |
| Trade debts | 44 | €34,883 | €55,709 | +€20,826 | +59.7% |
| Suppliers | 440/4 | €34,883 | €55,709 | +€20,826 | +59.7% |
| Advances received on contracts in progress | 46 | €15 | €15 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,296 | €15,818 | +€4,522 | +40.0% |
| Taxes | 450/3 | €155 | €156 | +€1 | +0.5% |
| Remuneration and social security | 454/9 | €11,141 | €15,662 | +€4,521 | +40.6% |
| Other amounts payable | 47/48 | €934 | €0 | -€934 | -100% |
| Accrued charges and deferred income | 492/3 | €626 | €0 | -€626 | -100% |
| Remuneration, social security and pensions | 62 | €59,774 | €73,051 | +€13,278 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,543 | €40,892 | +€11,349 | +38.4% |
| Other operating charges | 640/8 | €170 | €119 | -€51 | -30.1% |
| Gross operating margin | 9900 | €117,409 | €127,819 | +€10,410 | +8.9% |
| Operating profit (loss) | 9901 | €27,922 | €13,757 | -€14,165 | -50.7% |
| Financial income | 75/76B | €97 | €1 | -€96 | -99.1% |
| Recurring financial income | 75 | €97 | €1 | -€96 | -99.1% |
| Financial charges | 65/66B | €5,063 | €5,447 | +€384 | +7.6% |
| Recurring financial charges | 65 | €5,063 | €5,447 | +€384 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €22,956 | €8,311 | -€14,645 | -63.8% |
| Income taxes | 67/77 | €5,351 | €2,462 | -€2,889 | -54.0% |
| Profit (loss) for the period | 9904 | €17,605 | €5,849 | -€11,756 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,605 | €5,849 | -€11,756 | -66.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.