VDPE: 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.
VDPE
Largest movements
- Tangible fixed assets -€42,737
down €42,737 (-5.6%), from €763,097 to €720,360
of which Other tangible fixed assets: -€42,437
- Receivables within one year +€28,831
up €28,831 (+120%), from €24,121 to €52,952
of which Other amounts receivable: +€29,226
- Cash -€12,054
down €12,054 (-32.2%), from €37,412 to €25,358
mainly Debts after one year (-€57,778) and Receivables within one year (-€28,831)
- Debts after one year -€57,778
down €57,778 (-9.1%), from €633,426 to €575,648
- Reserves +€31,423
up €31,423 (+21.2%), from €148,206 to €179,629
of which Distributable reserves: +€31,423
- Financial charges -€9,143
down €9,143 (-24.6%), from €37,234 to €28,091
- Taxes +€2,423
up €2,423 (+11.4%), from €21,185 to €23,608
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 | €869,741 | €843,928 | -€25,813 | -3.0% |
| Fixed assets | 21/28 | €763,097 | €720,360 | -€42,737 | -5.6% |
| Tangible fixed assets | 22/27 | €763,097 | €720,360 | -€42,737 | -5.6% |
| Furniture and vehicles | 24 | €1,407 | €1,107 | -€300 | -21.3% |
| Other tangible fixed assets | 26 | €761,691 | €719,254 | -€42,437 | -5.6% |
| Current assets | 29/58 | €106,643 | €123,568 | +€16,924 | +15.9% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,121 | €52,952 | +€28,831 | +120% |
| Trade receivables | 40 | €23,221 | €22,826 | -€395 | -1.7% |
| Other amounts receivable | 41 | €900 | €30,126 | +€29,226 | +3,247% |
| Cash at bank and in hand | 54/58 | €37,412 | €25,358 | -€12,054 | -32.2% |
| Deferred charges and accrued income | 490/1 | €110 | €257 | +€147 | +134% |
| Total equity and liabilities | 10/49 | €869,741 | €843,928 | -€25,813 | -3.0% |
| Equity | 10/15 | €154,406 | €185,829 | +€31,423 | +20.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €148,206 | €179,629 | +€31,423 | +21.2% |
| Tax-exempt reserves | 132 | €423 | €423 | = | 0.0% |
| Distributable reserves | 133 | €147,783 | €179,206 | +€31,423 | +21.3% |
| Amounts payable | 17/49 | €715,335 | €658,099 | -€57,236 | -8.0% |
| Amounts payable after more than one year | 17 | €633,426 | €575,648 | -€57,778 | -9.1% |
| Financial debts | 170/4 | €633,426 | €575,648 | -€57,778 | -9.1% |
| Amounts payable within one year | 42/48 | €81,909 | €82,451 | +€541 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €57,778 | €57,778 | = | 0.0% |
| Trade debts | 44 | €840 | €2,745 | +€1,905 | +227% |
| Suppliers | 440/4 | €840 | €2,745 | +€1,905 | +227% |
| Taxes, remuneration and social security | 45 | €18,954 | €21,255 | +€2,301 | +12.1% |
| Taxes | 450/3 | €18,954 | €17,490 | -€1,463 | -7.7% |
| Remuneration and social security | 454/9 | - | €3,764 | +€3,764 | |
| Other amounts payable | 47/48 | €4,338 | €673 | -€3,664 | -84.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,531 | €42,737 | +€207 | +0.5% |
| Other operating charges | 640/8 | €1,487 | €1,582 | +€96 | +6.4% |
| Gross operating margin | 9900 | €152,880 | €151,472 | -€1,408 | -0.9% |
| Operating profit (loss) | 9901 | €108,863 | €107,152 | -€1,711 | -1.6% |
| Financial income | 75/76B | €980 | €1,278 | +€298 | +30.4% |
| Recurring financial income | 75 | €980 | €1,278 | +€298 | +30.4% |
| Financial charges | 65/66B | €37,234 | €28,091 | -€9,143 | -24.6% |
| Recurring financial charges | 65 | €37,234 | €28,091 | -€9,143 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €72,609 | €80,339 | +€7,730 | +10.6% |
| Income taxes | 67/77 | €21,185 | €23,608 | +€2,423 | +11.4% |
| Profit (loss) for the period | 9904 | €51,424 | €56,731 | +€5,307 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,424 | €56,731 | +€5,307 | +10.3% |
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 1 November 2026 via checked.be.