VSDC-fb: 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.
VSDC-fb
Largest movements
- Cash +€27,009
up €27,009 (+33.0%), from €81,773 to €108,782
mainly Net result for the year (+€16,292) and Receivables within one year (+€10,247)
- Receivables within one year -€10,247
down €10,247 (-21.6%), from €47,506 to €37,259
of which Trade receivables: -€10,247
- Tangible fixed assets -€9,407
down €9,407 (-19.6%), from €48,073 to €38,666
of which Furniture and vehicles: -€6,461
- Profit (loss) carried forward +€16,292
up €16,292 (+6.8%), from €241,296 to €257,588
- Trade debts -€9,259
down €9,259 (-25.7%), from €36,051 to €26,792
- Gross operating margin +€16,706
up €16,706 (+3.7%), from €450,017 to €466,723
- Other operating charges +€12,152
up €12,152 (+12.6%), from €96,720 to €108,872
- Staff costs +€5,401
up €5,401 (+1.6%), from €327,557 to €332,958
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 | €442,617 | €453,181 | +€10,564 | +2.4% |
| Fixed assets | 21/28 | €48,073 | €38,666 | -€9,407 | -19.6% |
| Tangible fixed assets | 22/27 | €48,073 | €38,666 | -€9,407 | -19.6% |
| Plant, machinery and equipment | 23 | €1,962 | €981 | -€981 | -50.0% |
| Furniture and vehicles | 24 | €14,680 | €8,219 | -€6,461 | -44.0% |
| Other tangible fixed assets | 26 | €31,430 | €29,466 | -€1,964 | -6.3% |
| Current assets | 29/58 | €394,544 | €414,515 | +€19,971 | +5.1% |
| Amounts receivable within one year | 40/41 | €47,506 | €37,259 | -€10,247 | -21.6% |
| Trade receivables | 40 | €47,279 | €37,031 | -€10,247 | -21.7% |
| Other amounts receivable | 41 | €228 | €228 | = | 0.0% |
| Current investments | 50/53 | €260,168 | €261,799 | +€1,632 | +0.6% |
| Cash at bank and in hand | 54/58 | €81,773 | €108,782 | +€27,009 | +33.0% |
| Deferred charges and accrued income | 490/1 | €5,098 | €6,675 | +€1,578 | +30.9% |
| Total equity and liabilities | 10/49 | €442,617 | €453,181 | +€10,564 | +2.4% |
| Equity | 10/15 | €269,439 | €287,540 | +€18,102 | +6.7% |
| Reserves | 13 | €28,143 | €29,953 | +€1,810 | +6.4% |
| Profit (loss) carried forward | 14 | €241,296 | €257,588 | +€16,292 | +6.8% |
| Amounts payable | 17/49 | €173,178 | €165,641 | -€7,537 | -4.4% |
| Amounts payable after more than one year | 17 | €66,000 | €67,250 | +€1,250 | +1.9% |
| Advances received on contracts in progress | 176 | €66,000 | €67,250 | +€1,250 | +1.9% |
| Amounts payable within one year | 42/48 | €107,178 | €98,391 | -€8,787 | -8.2% |
| Trade debts | 44 | €36,051 | €26,792 | -€9,259 | -25.7% |
| Suppliers | 440/4 | €36,051 | €26,792 | -€9,259 | -25.7% |
| Taxes, remuneration and social security | 45 | €71,128 | €71,599 | +€472 | +0.7% |
| Taxes | 450/3 | €27,628 | €28,612 | +€984 | +3.6% |
| Remuneration and social security | 454/9 | €43,500 | €42,987 | -€513 | -1.2% |
| Remuneration, social security and pensions | 62 | €327,557 | €332,958 | +€5,401 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,407 | €9,407 | +€0 | 0.0% |
| Other operating charges | 640/8 | €96,720 | €108,872 | +€12,152 | +12.6% |
| Non-recurring operating charges | 66A | €221 | - | -€221 | |
| Gross operating margin | 9900 | €450,017 | €466,723 | +€16,706 | +3.7% |
| Operating profit (loss) | 9901 | €14,620 | €13,676 | -€944 | -6.5% |
| Financial income | 75/76B | €5,602 | €5,227 | -€375 | -6.7% |
| Recurring financial income | 75 | €5,602 | €5,227 | -€375 | -6.7% |
| Financial charges | 65/66B | €580 | €767 | +€188 | +32.4% |
| Recurring financial charges | 65 | €580 | €767 | +€188 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €19,643 | €18,135 | -€1,507 | -7.7% |
| Income taxes | 67/77 | €6,217 | €1,844 | -€4,373 | -70.3% |
| Profit (loss) for the period | 9904 | €13,426 | €16,292 | +€2,866 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,426 | €16,292 | +€2,866 | +21.3% |
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 12 October 2026 via checked.be.