Warehouse VDD: 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.
What changed
Warehouse VDD
NACE 46.381, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€150,905
2024 · €257,684-€106,779
Equity
€1.5m
2024 · €1.4m+€150,905
Cash
€758,457
2024 · €604,981+€153,477
Balance sheet total
€1.6m
2024 · €1.5m+€110,689
Largest movements
Assets
- Cash +€153,477
up €153,477 (+25.4%), from €604,981 to €758,457
mainly Net result for the year (+€150,905) and Current investments (+€70,599)
- Current investments -€70,599
down €70,599 (-22.0%), from €320,599 to €250,000
- Receivables within one year +€44,891
up €44,891 (+37.0%), from €121,212 to €166,103
of which Trade receivables: +€35,387
Equity and liabilities
- Reserves +€150,905
up €150,905 (+13.9%), from €1.1m to €1.2m
of which Tax-exempt reserves: +€224,647
- Trade debts -€41,614
down €41,614 (-33.0%), from €125,989 to €84,375
Income statement
- Gross operating margin -€122,995
down €122,995 (-28.3%), from €434,316 to €311,321
- Taxes -€24,128
down €24,128 (-29.0%), from €83,194 to €59,065
- Depreciation +€14,514
up €14,514 (+31.2%), from €46,532 to €61,047
- Financial income +€6,156
up €6,156 (+50.2%), from €12,256 to €18,412
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
€257,684
Gross operating margin
-€122,995
Staff costs
+€2,003
Depreciation
-€14,514
Other operating charges
-€1,511
Financial income
+€6,156
Financial charges
-€46
Taxes
+€24,128
Result 2025
€150,905
raises the resultlowers the result
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.
From operations
+€158,630
Investment
+€10,506
Financing
-€15,659
Cash 2024
€604,981
From operations (derived)
+€158,630
Net result for the year
+€150,905
Depreciation
+€61,047
Receivables within one year
-€44,891
Deferred charges and accrued income
+€16,127
Trade debts
-€41,614
Tax, wage and social debts
+€13,216
Other debts
+€3,408
Accrued charges and deferred income
+€434
Investment (derived)
+€10,506
Investment in fixed assets (net)
-€60,093
Current investments
+€70,599
Financing
-€15,659
Debts after one year
-€16,224
Current portion of long-term debt
+€565
Cash 2025
€758,457
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,533,197 | €1,643,886 | +€110,689 | +7.2% |
| Fixed assets | 21/28 | €262,580 | €261,627 | -€953 | -0.4% |
| Tangible fixed assets | 22/27 | €262,580 | €261,627 | -€953 | -0.4% |
| Land and buildings | 22 | - | €55,957 | +€55,957 | |
| Plant, machinery and equipment | 23 | €61,469 | €44,436 | -€17,034 | -27.7% |
| Furniture and vehicles | 24 | €136,815 | €101,388 | -€35,427 | -25.9% |
| Other tangible fixed assets | 26 | €64,296 | €59,847 | -€4,450 | -6.9% |
| Current assets | 29/58 | €1,270,617 | €1,382,259 | +€111,642 | +8.8% |
| Amounts receivable after more than one year | 29 | €157,500 | €157,500 | = | 0.0% |
| Other amounts receivable | 291 | €157,500 | €157,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €121,212 | €166,103 | +€44,891 | +37.0% |
| Trade receivables | 40 | €113,291 | €148,677 | +€35,387 | +31.2% |
| Other amounts receivable | 41 | €7,921 | €17,426 | +€9,505 | +120% |
| Current investments | 50/53 | €320,599 | €250,000 | -€70,599 | -22.0% |
| Cash at bank and in hand | 54/58 | €604,981 | €758,457 | +€153,477 | +25.4% |
| Deferred charges and accrued income | 490/1 | €66,325 | €50,199 | -€16,127 | -24.3% |
| Total equity and liabilities | 10/49 | €1,533,197 | €1,643,886 | +€110,689 | +7.2% |
| Equity | 10/15 | €1,351,584 | €1,502,489 | +€150,905 | +11.2% |
| Contributions | 10/11 | €262,697 | €262,697 | = | 0.0% |
| Capital | 10 | €262,697 | - | -€262,697 | |
| Issued capital | 100 | €275,092 | - | -€275,092 | |
| Uncalled capital | 101 | €12,395 | - | -€12,395 | |
| Reserves | 13 | €1,088,887 | €1,239,792 | +€150,905 | +13.9% |
| Non-distributable reserves | 130/1 | €159,760 | €5,829 | -€153,931 | -96.4% |
| Legal reserve | 130 | €12,410 | - | -€12,410 | |
| Reserves not available under the articles | 1311 | €147,350 | €5,829 | -€141,521 | -96.0% |
| Tax-exempt reserves | 132 | - | €224,647 | +€224,647 | |
| Distributable reserves | 133 | €929,127 | €1,009,316 | +€80,189 | +8.6% |
| Amounts payable | 17/49 | €181,613 | €141,397 | -€40,216 | -22.1% |
| Amounts payable after more than one year | 17 | €23,155 | €6,931 | -€16,224 | -70.1% |
| Financial debts | 170/4 | €23,155 | €6,931 | -€16,224 | -70.1% |
| Amounts payable within one year | 42/48 | €158,458 | €134,032 | -€24,426 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €15,659 | €16,224 | +€565 | +3.6% |
| Trade debts | 44 | €125,989 | €84,375 | -€41,614 | -33.0% |
| Suppliers | 440/4 | €125,989 | €84,375 | -€41,614 | -33.0% |
| Taxes, remuneration and social security | 45 | €12,715 | €25,931 | +€13,216 | +104% |
| Taxes | 450/3 | €5,745 | €18,514 | +€12,768 | +222% |
| Remuneration and social security | 454/9 | €6,970 | €7,417 | +€448 | +6.4% |
| Other amounts payable | 47/48 | €4,095 | €7,502 | +€3,408 | +83.2% |
| Accrued charges and deferred income | 492/3 | - | €434 | +€434 | |
| Remuneration, social security and pensions | 62 | €56,158 | €54,155 | -€2,003 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,532 | €61,047 | +€14,514 | +31.2% |
| Other operating charges | 640/8 | €1,244 | €2,755 | +€1,511 | +121% |
| Gross operating margin | 9900 | €434,316 | €311,321 | -€122,995 | -28.3% |
| Operating profit (loss) | 9901 | €330,381 | €193,364 | -€137,017 | -41.5% |
| Financial income | 75/76B | €12,256 | €18,412 | +€6,156 | +50.2% |
| Recurring financial income | 75 | €12,256 | €18,412 | +€6,156 | +50.2% |
| Financial charges | 65/66B | €1,760 | €1,806 | +€46 | +2.6% |
| Recurring financial charges | 65 | €1,760 | €1,806 | +€46 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €340,877 | €209,970 | -€130,907 | -38.4% |
| Income taxes | 67/77 | €83,194 | €59,065 | -€24,128 | -29.0% |
| Profit (loss) for the period | 9904 | €257,684 | €150,905 | -€106,779 | -41.4% |
| Transfer to tax-exempt reserves | 689 | €147,350 | €77,297 | -€70,053 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €110,334 | €73,608 | -€36,726 | -33.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.