VVDC INVEST: what changed
What changed
VVDC INVEST
filed annual accounts (NBB)
Net result for the year
€87,940
2024 · €105,834-€17,894
Equity
€1.9m
2024 · €1.8m+€87,940
Cash
€16,803
2024 · €39,884-€23,081
Balance sheet total
€2.0m
2024 · €2.0m-€40,280
Largest movements
Assets
- Cash -€23,081
down €23,081 (-57.9%), from €39,884 to €16,803
mainly Debts after one year (-€40,000) and Current portion of long-term debt (-€40,000)
Equity and liabilities
- Reserves +€87,940
up €87,940 (+6.1%), from €1.5m to €1.5m
of which Distributable reserves: +€256,222
- Debts after one year -€40,000
down €40,000 (-100%), from €40,000 to €0
- Current portion of long-term debt -€40,000
down €40,000 (-50.0%), from €80,000 to €40,000
- Tax, wage and social debts -€28,863
down €28,863 (-51.6%), from €55,948 to €27,086
of which Taxes: -€28,015
Income statement
- Taxes +€13,243
up €13,243 (+25.7%), from €51,469 to €64,712
- Gross operating margin -€9,864
down €9,864 (-4.8%), from €206,946 to €197,082
- Staff costs -€6,324
down €6,324 (-50.4%), from €12,538 to €6,214
- Financial income -€2,183
down €2,183 (-5.1%), from €42,519 to €40,336
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€105,834
Gross operating margin
-€9,864
Staff costs
+€6,324
Depreciation
+€620
Other operating charges
-€802
Financial income
-€2,183
Financial charges
+€1,294
Taxes
-€13,243
Deferred taxes and other
-€41
Result 2025
€87,940
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€80,108
Investment
-€23,189
Financing
-€80,000
Cash 2024
€39,884
From operations (derived)
+€80,108
Net result for the year
+€87,940
Depreciation
+€41,008
Receivables within one year
-€1,863
Deferred charges and accrued income
+€1,243
Provisions
-€1,122
Trade debts
-€17,825
Tax, wage and social debts
-€28,863
Other debts
-€868
Accrued charges and deferred income
+€458
Investment (derived)
-€23,189
Investment in fixed assets (net)
-€23,189
Financing
-€80,000
Debts after one year
-€40,000
Current portion of long-term debt
-€40,000
Cash 2025
€16,803
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,001,361 | €1,961,081 | -€40,280 | -2.0% |
| Fixed assets | 21/28 | €995,449 | €977,630 | -€17,819 | -1.8% |
| Tangible fixed assets | 22/27 | €995,449 | €977,630 | -€17,819 | -1.8% |
| Land and buildings | 22 | €927,909 | €902,451 | -€25,459 | -2.7% |
| Plant, machinery and equipment | 23 | €65,295 | €73,385 | +€8,090 | +12.4% |
| Furniture and vehicles | 24 | €2,245 | €1,794 | -€450 | -20.1% |
| Current assets | 29/58 | €1,005,912 | €983,451 | -€22,461 | -2.2% |
| Amounts receivable after more than one year | 29 | €950,000 | €950,000 | = | 0.0% |
| Other amounts receivable | 291 | €950,000 | €950,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | €1,863 | +€1,863 | |
| Other amounts receivable | 41 | €0 | €1,863 | +€1,863 | |
| Cash at bank and in hand | 54/58 | €39,884 | €16,803 | -€23,081 | -57.9% |
| Deferred charges and accrued income | 490/1 | €16,028 | €14,785 | -€1,243 | -7.8% |
| Total equity and liabilities | 10/49 | €2,001,361 | €1,961,081 | -€40,280 | -2.0% |
| Equity | 10/15 | €1,788,599 | €1,876,539 | +€87,940 | +4.9% |
| Contributions | 10/11 | €338,038 | €338,038 | = | 0.0% |
| Reserves | 13 | €1,450,561 | €1,538,501 | +€87,940 | +6.1% |
| Non-distributable reserves | 130/1 | €45,134 | €45,134 | = | 0.0% |
| Reserves not available under the articles | 1311 | €45,134 | €45,134 | = | 0.0% |
| Tax-exempt reserves | 132 | €308,338 | €140,056 | -€168,282 | -54.6% |
| Distributable reserves | 133 | €1,097,089 | €1,353,310 | +€256,222 | +23.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,663 | €542 | -€1,122 | -67.4% |
| Deferred taxes | 168 | €1,663 | €542 | -€1,122 | -67.4% |
| Amounts payable | 17/49 | €211,099 | €84,001 | -€127,098 | -60.2% |
| Amounts payable after more than one year | 17 | €40,000 | €0 | -€40,000 | -100% |
| Financial debts | 170/4 | €40,000 | €0 | -€40,000 | -100% |
| Amounts payable within one year | 42/48 | €170,487 | €82,930 | -€87,556 | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €80,000 | €40,000 | -€40,000 | -50.0% |
| Trade debts | 44 | €19,618 | €1,792 | -€17,825 | -90.9% |
| Suppliers | 440/4 | €19,618 | €1,792 | -€17,825 | -90.9% |
| Taxes, remuneration and social security | 45 | €55,948 | €27,086 | -€28,863 | -51.6% |
| Taxes | 450/3 | €55,101 | €27,086 | -€28,015 | -50.8% |
| Remuneration and social security | 454/9 | €847 | €0 | -€847 | -100% |
| Other amounts payable | 47/48 | €14,921 | €14,053 | -€868 | -5.8% |
| Accrued charges and deferred income | 492/3 | €613 | €1,071 | +€458 | +74.8% |
| Remuneration, social security and pensions | 62 | €12,538 | €6,214 | -€6,324 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,627 | €41,008 | -€620 | -1.5% |
| Other operating charges | 640/8 | €35,219 | €36,021 | +€802 | +2.3% |
| Gross operating margin | 9900 | €206,946 | €197,082 | -€9,864 | -4.8% |
| Operating profit (loss) | 9901 | €117,561 | €113,839 | -€3,722 | -3.2% |
| Financial income | 75/76B | €42,519 | €40,336 | -€2,183 | -5.1% |
| Recurring financial income | 75 | €42,519 | €40,336 | -€2,183 | -5.1% |
| Financial charges | 65/66B | €3,939 | €2,644 | -€1,294 | -32.9% |
| Recurring financial charges | 65 | €3,939 | €2,644 | -€1,294 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €156,141 | €151,531 | -€4,611 | -3.0% |
| Transfer from deferred taxes | 780 | €1,162 | €1,122 | -€41 | -3.5% |
| Income taxes | 67/77 | €51,469 | €64,712 | +€13,243 | +25.7% |
| Profit (loss) for the period | 9904 | €105,834 | €87,940 | -€17,894 | -16.9% |
| Transfer from tax-exempt reserves | 789 | €7,027 | €168,282 | +€161,255 | +2,295% |
| Profit (loss) for the period to be appropriated | 9905 | €112,861 | €256,222 | +€143,360 | +127% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.