vnds: 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.
vnds
Largest movements
- Tangible fixed assets +€542,839
up €542,839 (+151.5%), from €358,277 to €901,116
of which Land and buildings: +€487,242
- Receivables within one year +€50,842
new in 2025: €50,842
- Cash -€49,834
down €49,834 (-94.6%), from €52,677 to €2,843
mainly Investment in fixed assets (net) (-€562,172) and Net result for the year (-€115,703)
- Other debts +€317,403
up €317,403 (+115.6%), from €274,678 to €592,081
- Debts after one year +€268,449
up €268,449 (+70.6%), from €380,000 to €648,449
- Profit (loss) carried forward -€115,703
down €115,703 (-33.4%), from -€346,840 to -€462,544
- Trade debts +€55,911
up €55,911 (+2333.2%), from €2,396 to €58,307
- Current portion of long-term debt +€10,053
new in 2025: €10,053
- Other operating charges +€17,390
up €17,390 (+439.6%), from €3,956 to €21,346
- Gross operating margin -€13,462
down €13,462 (-36.7%), from -€36,722 to -€50,184
- Depreciation +€8,307
up €8,307 (+75.3%), from €11,025 to €19,332
- Financial charges +€8,292
up €8,292 (+50.1%), from €16,549 to €24,841
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 | €410,954 | €954,801 | +€543,847 | +132.3% |
| Fixed assets | 21/28 | €358,277 | €901,116 | +€542,839 | +151.5% |
| Tangible fixed assets | 22/27 | €358,277 | €901,116 | +€542,839 | +151.5% |
| Land and buildings | 22 | €357,554 | €844,796 | +€487,242 | +136.3% |
| Plant, machinery and equipment | 23 | €722 | €48,661 | +€47,939 | +6636.3% |
| Furniture and vehicles | 24 | - | €7,658 | +€7,658 | |
| Current assets | 29/58 | €52,677 | €53,685 | +€1,008 | +1.9% |
| Amounts receivable within one year | 40/41 | - | €50,842 | +€50,842 | |
| Trade receivables | 40 | - | €50,842 | +€50,842 | |
| Cash at bank and in hand | 54/58 | €52,677 | €2,843 | -€49,834 | -94.6% |
| Total equity and liabilities | 10/49 | €410,954 | €954,801 | +€543,847 | +132.3% |
| Equity | 10/15 | -€246,840 | -€362,544 | -€115,703 | -46.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€346,840 | -€462,544 | -€115,703 | -33.4% |
| Amounts payable | 17/49 | €657,794 | €1,317,345 | +€659,551 | +100.3% |
| Amounts payable after more than one year | 17 | €380,000 | €648,449 | +€268,449 | +70.6% |
| Financial debts | 170/4 | €380,000 | €648,449 | +€268,449 | +70.6% |
| Amounts payable within one year | 42/48 | €277,794 | €668,896 | +€391,102 | +140.8% |
| Current portion of amounts payable after more than one year | 42 | - | €10,053 | +€10,053 | |
| Trade debts | 44 | €2,396 | €58,307 | +€55,911 | +2333.2% |
| Suppliers | 440/4 | €2,396 | €58,307 | +€55,911 | +2333.2% |
| Taxes, remuneration and social security | 45 | €720 | €8,455 | +€7,735 | +1074.3% |
| Taxes | 450/3 | €720 | €8,455 | +€7,735 | +1074.3% |
| Other amounts payable | 47/48 | €274,678 | €592,081 | +€317,403 | +115.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,025 | €19,332 | +€8,307 | +75.3% |
| Other operating charges | 640/8 | €3,956 | €21,346 | +€17,390 | +439.6% |
| Gross operating margin | 9900 | -€36,722 | -€50,184 | -€13,462 | -36.7% |
| Operating profit (loss) | 9901 | -€51,703 | -€90,863 | -€39,160 | -75.7% |
| Financial income | 75/76B | €13 | - | -€13 | |
| Recurring financial income | 75 | €13 | - | -€13 | |
| Financial charges | 65/66B | €16,549 | €24,841 | +€8,292 | +50.1% |
| Recurring financial charges | 65 | €16,549 | €24,841 | +€8,292 | +50.1% |
| Profit (loss) for the period before taxes | 9903 | -€68,238 | -€115,703 | -€47,465 | -69.6% |
| Profit (loss) for the period | 9904 | -€68,238 | -€115,703 | -€47,465 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,238 | -€115,703 | -€47,465 | -69.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.