V.B.R.-MANAGEMENT: what changed
What changed
V.B.R.-MANAGEMENT
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€135,618
2024 · €111,228+€24,390
Equity
€1.9m
2024 · €1.8m+€135,618
Cash
€142,777
2024 · €38,852+€103,925
Balance sheet total
€3.6m
2024 · €3.5m+€101,008
Largest movements
Assets
- Cash +€103,925
up €103,925 (+267%), from €38,852 to €142,777
mainly Net result for the year (+€135,618) and Depreciation (+€58,526)
Equity and liabilities
- Reserves +€135,000
up €135,000 (+9.4%), from €1.4m to €1.6m
- Tax, wage and social debts -€81,352
down €81,352 (-57.9%), from €140,451 to €59,099
of which Taxes: -€45,052
Income statement
- Gross operating margin +€61,564
up €61,564 (+24.5%), from €251,527 to €313,091
- Taxes +€18,211
up €18,211 (+39.5%), from €46,053 to €64,264
- Depreciation +€14,679
up €14,679 (+33.5%), from €43,847 to €58,526
- Financial charges +€8,768
up €8,768 (+40.3%), from €21,736 to €30,504
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
€111,228
Gross operating margin
+€61,564
Depreciation
-€14,679
Other operating charges
+€1,513
Financial income
+€2,971
Financial charges
-€8,768
Taxes
-€18,211
Result 2025
€135,618
raises the resultlowers the result
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
+€164,318
Investment
-€58,063
Financing
-€2,330
Cash 2024
€38,852
From operations (derived)
+€164,318
Net result for the year
+€135,618
Depreciation
+€58,526
Receivables within one year
+€1,444
Deferred charges and accrued income
+€1,010
Tax, wage and social debts
-€81,352
Other debts
+€24,250
Accrued charges and deferred income
+€24,821
Investment (derived)
-€58,063
Investment in fixed assets (net)
-€25,983
Current investments
-€32,080
Financing
-€2,330
Debts after one year
+€13,860
Current portion of long-term debt
-€16,190
Cash 2025
€142,777
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,544,657 | €3,645,664 | +€101,008 | +2.8% |
| Fixed assets | 21/28 | €3,284,724 | €3,252,182 | -€32,542 | -1.0% |
| Tangible fixed assets | 22/27 | €1,524,905 | €1,492,362 | -€32,542 | -2.1% |
| Land and buildings | 22 | €1,480,280 | €1,435,467 | -€44,813 | -3.0% |
| Plant, machinery and equipment | 23 | €44,625 | €37,769 | -€6,856 | -15.4% |
| Furniture and vehicles | 24 | - | €19,127 | +€19,127 | |
| Financial fixed assets | 28 | €1,759,820 | €1,759,820 | = | 0.0% |
| Current assets | 29/58 | €259,932 | €393,482 | +€133,550 | +51.4% |
| Amounts receivable within one year | 40/41 | €40,895 | €39,451 | -€1,444 | -3.5% |
| Trade receivables | 40 | €29,208 | €16,879 | -€12,328 | -42.2% |
| Other amounts receivable | 41 | €11,688 | €22,572 | +€10,884 | +93.1% |
| Current investments | 50/53 | €179,175 | €211,255 | +€32,080 | +17.9% |
| Cash at bank and in hand | 54/58 | €38,852 | €142,777 | +€103,925 | +267% |
| Deferred charges and accrued income | 490/1 | €1,010 | - | -€1,010 | |
| Total equity and liabilities | 10/49 | €3,544,657 | €3,645,664 | +€101,008 | +2.8% |
| Equity | 10/15 | €1,765,580 | €1,901,198 | +€135,618 | +7.7% |
| Contributions | 10/11 | €20,103 | €20,103 | = | 0.0% |
| Reserves | 13 | €1,433,706 | €1,568,706 | +€135,000 | +9.4% |
| Distributable reserves | 133 | €1,433,706 | €1,568,706 | +€135,000 | +9.4% |
| Profit (loss) carried forward | 14 | €311,771 | €312,389 | +€618 | +0.2% |
| Amounts payable | 17/49 | €1,779,077 | €1,744,466 | -€34,611 | -1.9% |
| Amounts payable after more than one year | 17 | €445,175 | €459,035 | +€13,860 | +3.1% |
| Financial debts | 170/4 | €445,175 | €459,035 | +€13,860 | +3.1% |
| Amounts payable within one year | 42/48 | €1,315,566 | €1,242,274 | -€73,292 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €159,171 | €142,981 | -€16,190 | -10.2% |
| Taxes, remuneration and social security | 45 | €140,451 | €59,099 | -€81,352 | -57.9% |
| Taxes | 450/3 | €104,151 | €59,099 | -€45,052 | -43.3% |
| Remuneration and social security | 454/9 | €36,300 | - | -€36,300 | |
| Other amounts payable | 47/48 | €1,015,944 | €1,040,195 | +€24,250 | +2.4% |
| Accrued charges and deferred income | 492/3 | €18,336 | €43,157 | +€24,821 | +135% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,847 | €58,526 | +€14,679 | +33.5% |
| Other operating charges | 640/8 | €28,664 | €27,150 | -€1,513 | -5.3% |
| Gross operating margin | 9900 | €251,527 | €313,091 | +€61,564 | +24.5% |
| Operating profit (loss) | 9901 | €179,017 | €227,415 | +€48,398 | +27.0% |
| Financial income | 75/76B | - | €2,971 | +€2,971 | |
| Recurring financial income | 75 | - | €2,971 | +€2,971 | |
| Financial charges | 65/66B | €21,736 | €30,504 | +€8,768 | +40.3% |
| Recurring financial charges | 65 | €21,736 | €30,504 | +€8,768 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | €157,281 | €199,882 | +€42,602 | +27.1% |
| Income taxes | 67/77 | €46,053 | €64,264 | +€18,211 | +39.5% |
| Profit (loss) for the period | 9904 | €111,228 | €135,618 | +€24,390 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €111,228 | €135,618 | +€24,390 | +21.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.