VSD-technieken: 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.
VSD-technieken
Largest movements
- Tangible fixed assets +€36,600
up €36,600 (+2,454%), from €1,491 to €38,092
- Receivables within one year +€4,497
up €4,497 (+24.2%), from €18,616 to €23,113
of which Trade receivables: +€3,723
- Deferred charges and accrued income +€1,947
new in 2025: €1,947
- Intangible fixed assets -€1,500
down €1,500 (-25.9%), from €5,786 to €4,286
- Other debts +€29,491
up €29,491 (+328%), from €9,000 to €38,491
- Trade debts +€10,517
up €10,517 (+232%), from €4,538 to €15,054
- Tax, wage and social debts +€989
up €989 (+9.8%), from €10,062 to €11,052
- Gross operating margin -€1,957
down €1,957 (-14.4%), from €13,579 to €11,622
- Depreciation +€668
up €668 (+34.7%), from €1,926 to €2,595
- Taxes -€479
down €479, from €362 to -€117
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 | €29,101 | €70,272 | +€41,171 | +141% |
| Fixed assets | 21/28 | €7,278 | €42,378 | +€35,100 | +482% |
| Intangible fixed assets | 21 | €5,786 | €4,286 | -€1,500 | -25.9% |
| Tangible fixed assets | 22/27 | €1,491 | €38,092 | +€36,600 | +2,454% |
| Furniture and vehicles | 24 | €1,491 | €38,092 | +€36,600 | +2,454% |
| Current assets | 29/58 | €21,823 | €27,894 | +€6,071 | +27.8% |
| Amounts receivable within one year | 40/41 | €18,616 | €23,113 | +€4,497 | +24.2% |
| Trade receivables | 40 | €17,349 | €21,072 | +€3,723 | +21.5% |
| Other amounts receivable | 41 | €1,267 | €2,040 | +€773 | +61.0% |
| Cash at bank and in hand | 54/58 | €3,207 | €2,834 | -€373 | -11.6% |
| Deferred charges and accrued income | 490/1 | - | €1,947 | +€1,947 | |
| Total equity and liabilities | 10/49 | €29,101 | €70,272 | +€41,171 | +141% |
| Equity | 10/15 | €5,501 | €5,675 | +€174 | +3.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,501 | €1,675 | +€174 | +11.6% |
| Amounts payable | 17/49 | €23,600 | €64,597 | +€40,997 | +174% |
| Amounts payable within one year | 42/48 | €23,600 | €64,597 | +€40,997 | +174% |
| Trade debts | 44 | €4,538 | €15,054 | +€10,517 | +232% |
| Suppliers | 440/4 | €4,538 | €15,054 | +€10,517 | +232% |
| Taxes, remuneration and social security | 45 | €10,062 | €11,052 | +€989 | +9.8% |
| Taxes | 450/3 | €10,062 | €11,052 | +€989 | +9.8% |
| Other amounts payable | 47/48 | €9,000 | €38,491 | +€29,491 | +328% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,926 | €2,595 | +€668 | +34.7% |
| Other operating charges | 640/8 | €2,016 | €1,894 | -€123 | -6.1% |
| Gross operating margin | 9900 | €13,579 | €11,622 | -€1,957 | -14.4% |
| Operating profit (loss) | 9901 | €9,636 | €7,134 | -€2,502 | -26.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €85 | €77 | -€8 | -9.8% |
| Recurring financial charges | 65 | €85 | €77 | -€8 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €9,551 | €7,057 | -€2,494 | -26.1% |
| Income taxes | 67/77 | €362 | -€117 | -€479 | |
| Profit (loss) for the period | 9904 | €9,189 | €7,174 | -€2,015 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,189 | €7,174 | -€2,015 | -21.9% |
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 16 October 2026 via checked.be.