V-MAT CONSULTING: 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.
V-MAT CONSULTING
Largest movements
- Cash +€156,400
up €156,400 (+128%), from €122,578 to €278,978
mainly Net result for the year (+€159,359) and Tax, wage and social debts (+€29,745)
- Reserves +€159,501
up €159,501 (+172%), from €93,000 to €252,501
- Gross operating margin +€99,653
up €99,653 (+80.0%), from €124,623 to €224,276
- Taxes +€25,254
up €25,254 (+80.4%), from €31,407 to €56,661
- Depreciation +€7,478
new in 2025: €7,478
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 | €10,312,876 | €10,481,041 | +€168,165 | +1.6% |
| Fixed assets | 21/28 | €10,166,098 | €10,201,669 | +€35,572 | +0.3% |
| Tangible fixed assets | 22/27 | - | €35,572 | +€35,572 | |
| Furniture and vehicles | 24 | - | €35,572 | +€35,572 | |
| Financial fixed assets | 28 | €10,166,098 | €10,166,098 | = | 0.0% |
| Current assets | 29/58 | €146,778 | €279,371 | +€132,593 | +90.3% |
| Amounts receivable within one year | 40/41 | €24,200 | €0 | -€24,200 | -100.0% |
| Trade receivables | 40 | €24,200 | - | -€24,200 | |
| Other amounts receivable | 41 | - | €0 | +€0 | |
| Cash at bank and in hand | 54/58 | €122,578 | €278,978 | +€156,400 | +128% |
| Deferred charges and accrued income | 490/1 | - | €393 | +€393 | |
| Total equity and liabilities | 10/49 | €10,312,876 | €10,481,041 | +€168,165 | +1.6% |
| Equity | 10/15 | €103,142 | €262,501 | +€159,359 | +155% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | - | -€10,000 | |
| Issued capital | 100 | €10,000 | - | -€10,000 | |
| Contributions outside capital | 11 | - | €10,000 | +€10,000 | |
| Other | 1109/19 | - | €10,000 | +€10,000 | |
| Reserves | 13 | €93,000 | €252,501 | +€159,501 | +172% |
| Distributable reserves | 133 | €93,000 | €252,501 | +€159,501 | +172% |
| Profit (loss) carried forward | 14 | €142 | - | -€142 | |
| Amounts payable | 17/49 | €10,209,734 | €10,218,540 | +€8,806 | +0.1% |
| Amounts payable after more than one year | 17 | €10,166,000 | €10,149,418 | -€16,582 | -0.2% |
| Financial debts | 170/4 | - | €10,149,418 | +€10.1m | |
| Other amounts payable | 178/9 | €10,166,000 | - | -€10.2m | |
| Amounts payable within one year | 42/48 | €43,734 | €69,122 | +€25,389 | +58.1% |
| Trade debts | 44 | €3,467 | €3,523 | +€56 | +1.6% |
| Suppliers | 440/4 | €3,467 | €3,523 | +€56 | +1.6% |
| Taxes, remuneration and social security | 45 | €35,854 | €65,599 | +€29,745 | +83.0% |
| Taxes | 450/3 | €35,854 | €65,599 | +€29,745 | +83.0% |
| Other amounts payable | 47/48 | €4,412 | - | -€4,412 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,478 | +€7,478 | |
| Other operating charges | 640/8 | - | €765 | +€765 | |
| Gross operating margin | 9900 | €124,623 | €224,276 | +€99,653 | +80.0% |
| Operating profit (loss) | 9901 | €124,623 | €216,034 | +€91,411 | +73.3% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €74 | €59 | -€14 | -19.5% |
| Recurring financial charges | 65 | €74 | €59 | -€14 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €124,550 | €216,020 | +€91,470 | +73.4% |
| Income taxes | 67/77 | €31,407 | €56,661 | +€25,254 | +80.4% |
| Profit (loss) for the period | 9904 | €93,142 | €159,359 | +€66,217 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,142 | €159,359 | +€66,217 | +71.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.