VPD V&V: 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.
VPD V&V
Largest movements
- Receivables within one year -€26,227
down €26,227 (-89.2%), from €29,395 to €3,169
of which Trade receivables: -€27,795
- Cash +€24,273
up €24,273 (+181%), from €13,433 to €37,707
mainly Receivables within one year (+€26,227) and Net result for the year (+€7,586)
- Deferred charges and accrued income +€15,595
new in 2025: €15,595
- Tangible fixed assets -€5,187
down €5,187 (-26.8%), from €19,332 to €14,146
of which Furniture and vehicles: -€4,222
- Reserves +€6,168
up €6,168 (+12.6%), from €48,813 to €54,982
- Trade debts +€3,593
up €3,593 (+176%), from €2,045 to €5,637
- Current portion of long-term debt -€3,521
down €3,521 (-58.1%), from €6,056 to €2,534
- Tax, wage and social debts +€2,800
new in 2025: €2,800
- Debts after one year -€2,534
no longer reported in 2025 (was €2,534)
- Gross operating margin -€12,266
down €12,266 (-62.1%), from €19,766 to €7,501
- Financial income +€7,000
up €7,000 (+23,333,233%), from €0 to €7,000
- Depreciation -€3,821
down €3,821 (-37.2%), from €10,262 to €6,441
- Taxes -€229
down €229, from €123 to -€106
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 | €63,161 | €71,616 | +€8,455 | +13.4% |
| Fixed assets | 21/28 | €20,332 | €15,146 | -€5,187 | -25.5% |
| Tangible fixed assets | 22/27 | €19,332 | €14,146 | -€5,187 | -26.8% |
| Land and buildings | 22 | €8,074 | €6,256 | -€1,818 | -22.5% |
| Plant, machinery and equipment | 23 | - | €853 | +€853 | |
| Furniture and vehicles | 24 | €11,259 | €7,037 | -€4,222 | -37.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €42,829 | €56,470 | +€13,642 | +31.9% |
| Amounts receivable within one year | 40/41 | €29,395 | €3,169 | -€26,227 | -89.2% |
| Trade receivables | 40 | €27,795 | - | -€27,795 | |
| Other amounts receivable | 41 | €1,600 | €3,169 | +€1,569 | +98.0% |
| Cash at bank and in hand | 54/58 | €13,433 | €37,707 | +€24,273 | +181% |
| Deferred charges and accrued income | 490/1 | - | €15,595 | +€15,595 | |
| Total equity and liabilities | 10/49 | €63,161 | €71,616 | +€8,455 | +13.4% |
| Equity | 10/15 | €48,396 | €55,982 | +€7,586 | +15.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €48,813 | €54,982 | +€6,168 | +12.6% |
| Distributable reserves | 133 | €48,813 | €54,982 | +€6,168 | +12.6% |
| Profit (loss) carried forward | 14 | -€1,418 | - | +€1,418 | |
| Amounts payable | 17/49 | €14,766 | €15,634 | +€869 | +5.9% |
| Amounts payable after more than one year | 17 | €2,534 | - | -€2,534 | |
| Financial debts | 170/4 | €2,534 | - | -€2,534 | |
| Amounts payable within one year | 42/48 | €12,231 | €15,634 | +€3,403 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €6,056 | €2,534 | -€3,521 | -58.1% |
| Trade debts | 44 | €2,045 | €5,637 | +€3,593 | +176% |
| Suppliers | 440/4 | €2,045 | €5,637 | +€3,593 | +176% |
| Taxes, remuneration and social security | 45 | - | €2,800 | +€2,800 | |
| Taxes | 450/3 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €4,131 | €4,663 | +€532 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,262 | €6,441 | -€3,821 | -37.2% |
| Other operating charges | 640/8 | €393 | €464 | +€71 | +18.0% |
| Gross operating margin | 9900 | €19,766 | €7,501 | -€12,266 | -62.1% |
| Operating profit (loss) | 9901 | €9,111 | €596 | -€8,515 | -93.5% |
| Financial income | 75/76B | €0 | €7,000 | +€7,000 | +23,333,233% |
| Recurring financial income | 75 | €0 | €7,000 | +€7,000 | +23,333,233% |
| Financial charges | 65/66B | €141 | €116 | -€25 | -17.9% |
| Recurring financial charges | 65 | €141 | €116 | -€25 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €8,971 | €7,480 | -€1,490 | -16.6% |
| Income taxes | 67/77 | €123 | -€106 | -€229 | |
| Profit (loss) for the period | 9904 | €8,847 | €7,586 | -€1,261 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,847 | €7,586 | -€1,261 | -14.3% |
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 28 October 2026 via checked.be.