Vydraulics: what changed
Two fiscal 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.
What changed
Vydraulics
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€583,315
2024 · €1.1m-€547,690
Equity
€40.8m
2024 · €7.8m+€33.0m
Cash
€2.0m
2024 · €795,816+€1.2m
Balance sheet total
€56.5m
2024 · €25.2m+€31.4m
Largest movements
Assets
- Financial fixed assets +€29.6m
up €29.6m (+141.5%), from €20.9m to €50.5m
of which Affiliated companies: +€29.6m
- Cash +€1.2m
up €1.2m (+151.6%), from €795,816 to €2.0m
mainly Contributions, distributions and other (+€32.4m) and Net result for the year (+€583,315)
Equity and liabilities
- Revaluation surpluses +€32.4m
up €32.4m, from €0 to €32.4m
- Other debts -€1.1m
down €1.1m (-100.0%), from €1.1m to €0
- Reserves +€583,315
up €583,315 (+60.8%), from €958,656 to €1.5m
of which Distributable reserves: +€554,150
Income statement
- Financial income -€1.9m
down €1.9m (-51.9%), from €3.6m to €1.7m
of which Non-recurring financial income: -€1.4m
- Financial charges -€1.8m
down €1.8m (-56.4%), from €3.1m to €1.4m
of which Non-recurring financial charges: -€1.6m
- Turnover -€435,137
down €435,137 (-12.0%), from €3.6m to €3.2m
- Other operating income +€130,585
up €130,585 (+61.7%), from €211,659 to €342,244
- Staff costs +€101,452
up €101,452 (+240.8%), from €42,127 to €143,579
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.
Result 2024
€1.1m
Turnover
-€435,137
Other operating income
+€130,585
Services and other goods
+€58,115
Staff costs
-€101,452
Depreciation
-€86,325
Other operating charges
+€2,308
Financial income
-€1.9m
Financial charges
+€1.8m
Taxes
-€5,536
Result 2025
€583,315
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.
From operations
-€609,797
Investment
-€30.2m
Financing
+€32.0m
Cash 2024
€795,816
From operations (derived)
-€609,797
Net result for the year
+€583,315
Depreciation
+€106,741
Smaller working-capital items
-€201,141
Other debts
-€1.1m
Investment (derived)
-€30.2m
Investment in fixed assets (net)
-€30.2m
Financing
+€32.0m
Debts after one year
-€495,369
Current portion of long-term debt
+€81,077
Short-term financial debts
-€1,154
Contributions, distributions and other
+€32.4m
Cash 2025
€2.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,195,617 | €56,547,197 | +€31.4m | +124.4% |
| Fixed assets | 21/28 | €21,150,300 | €51,209,210 | +€30.1m | +142.1% |
| Intangible fixed assets | 21 | €155,922 | €115,265 | -€40,657 | -26.1% |
| Tangible fixed assets | 22/27 | €83,755 | €597,644 | +€513,890 | +613.6% |
| Plant, machinery and equipment | 23 | - | €34,760 | +€34,760 | |
| Furniture and vehicles | 24 | €7,636 | €4,064 | -€3,572 | -46.8% |
| Other tangible fixed assets | 26 | €76,119 | €458,888 | +€382,769 | +502.9% |
| Assets under construction and advance payments | 27 | €0 | €99,933 | +€99,933 | |
| Financial fixed assets | 28 | €20,910,624 | €50,496,300 | +€29.6m | +141.5% |
| Affiliated companies | 280/1 | €20,904,499 | €50,496,300 | +€29.6m | +141.6% |
| Participating interests | 280 | €14,701,061 | €45,785,363 | +€31.1m | +211.4% |
| Amounts receivable | 281 | €6,203,438 | €4,710,938 | -€1.5m | -24.1% |
| Other financial fixed assets | 284/8 | €6,125 | €0 | -€6,125 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €6,125 | €0 | -€6,125 | -100.0% |
| Current assets | 29/58 | €4,045,316 | €5,337,987 | +€1.3m | +32.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,143,619 | €3,197,327 | +€53,708 | +1.7% |
| Trade receivables | 40 | €869,204 | €349,989 | -€519,215 | -59.7% |
| Other amounts receivable | 41 | €2,274,415 | €2,847,338 | +€572,922 | +25.2% |
| Cash at bank and in hand | 54/58 | €795,816 | €2,001,994 | +€1.2m | +151.6% |
| Deferred charges and accrued income | 490/1 | €105,881 | €138,667 | +€32,785 | +31.0% |
| Total equity and liabilities | 10/49 | €25,195,617 | €56,547,197 | +€31.4m | +124.4% |
| Equity | 10/15 | €7,836,156 | €40,816,542 | +€33.0m | +420.9% |
| Contributions | 10/11 | €6,877,500 | €6,877,500 | = | 0.0% |
| Capital | 10 | €6,877,500 | €6,877,500 | = | 0.0% |
| Issued capital | 100 | €6,877,500 | €6,877,500 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | €32,397,071 | +€32.4m | |
| Reserves | 13 | €958,656 | €1,541,971 | +€583,315 | +60.8% |
| Non-distributable reserves | 130/1 | €486,634 | €515,800 | +€29,166 | +6.0% |
| Legal reserve | 130 | €486,634 | €515,800 | +€29,166 | +6.0% |
| Distributable reserves | 133 | €472,022 | €1,026,171 | +€554,150 | +117.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €17,359,461 | €15,730,655 | -€1.6m | -9.4% |
| Amounts payable after more than one year | 17 | €13,878,081 | €13,382,712 | -€495,369 | -3.6% |
| Financial debts | 170/4 | €13,878,081 | €13,382,712 | -€495,369 | -3.6% |
| Subordinated loans | 170 | €4,003,081 | €4,483,451 | +€480,370 | +12.0% |
| Leasing and similar obligations | 172 | - | €34,261 | +€34,261 | |
| Credit institutions | 173 | €9,875,000 | €8,865,000 | -€1.0m | -10.2% |
| Amounts payable within one year | 42/48 | €3,223,353 | €2,164,070 | -€1.1m | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €1,750,000 | €1,831,077 | +€81,077 | +4.6% |
| Financial debts | 43 | €4,169 | €3,015 | -€1,154 | -27.7% |
| Credit institutions | 430/8 | €4,169 | €3,015 | -€1,154 | -27.7% |
| Trade debts | 44 | €332,114 | €307,833 | -€24,281 | -7.3% |
| Suppliers | 440/4 | €332,114 | €307,833 | -€24,281 | -7.3% |
| Taxes, remuneration and social security | 45 | €38,358 | €22,145 | -€16,213 | -42.3% |
| Taxes | 450/3 | €28,752 | €1,810 | -€26,942 | -93.7% |
| Remuneration and social security | 454/9 | €9,607 | €20,335 | +€10,729 | +111.7% |
| Other amounts payable | 47/48 | €1,098,712 | €0 | -€1.1m | -100.0% |
| Accrued charges and deferred income | 492/3 | €258,027 | €183,873 | -€74,154 | -28.7% |
| Operating income | 70/76A | €3,840,095 | €3,535,543 | -€304,552 | -7.9% |
| Turnover | 70 | €3,628,436 | €3,193,299 | -€435,137 | -12.0% |
| Other operating income | 74 | €211,659 | €342,244 | +€130,585 | +61.7% |
| Operating charges | 60/66A | €3,188,578 | €3,315,932 | +€127,353 | +4.0% |
| Services and other goods | 61 | €3,120,574 | €3,062,459 | -€58,115 | -1.9% |
| Remuneration, social security and pensions | 62 | €42,127 | €143,579 | +€101,452 | +240.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,416 | €106,741 | +€86,325 | +422.8% |
| Other operating charges | 640/8 | €5,461 | €3,153 | -€2,308 | -42.3% |
| Operating profit (loss) | 9901 | €651,517 | €219,611 | -€431,906 | -66.3% |
| Financial income | 75/76B | €3,587,586 | €1,724,980 | -€1.9m | -51.9% |
| Recurring financial income | 75 | €2,041,707 | €1,538,980 | -€502,728 | -24.6% |
| Income from financial fixed assets | 750 | €1,898,266 | €1,503,942 | -€394,324 | -20.8% |
| Income from current assets | 751 | €68,471 | €34,795 | -€33,676 | -49.2% |
| Other financial income | 752/9 | €74,971 | €243 | -€74,728 | -99.7% |
| Non-recurring financial income | 76B | €1,545,879 | €186,000 | -€1.4m | -88.0% |
| Financial charges | 65/66B | €3,107,295 | €1,354,937 | -€1.8m | -56.4% |
| Recurring financial charges | 65 | €1,285,981 | €1,140,508 | -€145,473 | -11.3% |
| Debt charges | 650 | €1,251,206 | €1,114,148 | -€137,058 | -11.0% |
| Other financial charges | 652/9 | €34,775 | €26,360 | -€8,416 | -24.2% |
| Non-recurring financial charges | 66B | €1,821,313 | €214,429 | -€1.6m | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €1,131,809 | €589,654 | -€542,154 | -47.9% |
| Income taxes | 67/77 | €803 | €6,339 | +€5,536 | +689.5% |
| Taxes | 670/3 | €803 | €6,339 | +€5,536 | +689.5% |
| Profit (loss) for the period | 9904 | €1,131,006 | €583,315 | -€547,690 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,131,006 | €583,315 | -€547,690 | -48.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.