VABOD: 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
VABOD
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€123,232
2024 · €140,139-€16,907
Equity
€481,408
2024 · €358,177+€123,232
Cash
€373,920
2024 · €350,524+€23,396
Balance sheet total
€2.5m
2024 · €2.6m-€104,128
Largest movements
Assets
- Tangible fixed assets -€147,343
down €147,343 (-6.5%), from €2.3m to €2.1m
of which Land and buildings: -€109,500
Equity and liabilities
- Debts after one year -€228,659
down €228,659 (-11.5%), from €2.0m to €1.8m
- Reserves +€123,232
up €123,232 (+35.4%), from €348,177 to €471,408
of which Distributable reserves: +€81,132
Income statement
- Depreciation +€9,579
up €9,579 (+7.0%), from €137,763 to €147,343
- Taxes +€5,742
up €5,742 (+17.0%), from €33,743 to €39,484
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
€140,139
Gross operating margin
-€2,100
Depreciation
-€9,579
Other operating charges
-€959
Financial income
-€1,051
Financial charges
+€2,524
Taxes
-€5,742
Result 2025
€123,232
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
+€249,215
Investment
€0
Financing
-€225,820
Cash 2024
€350,524
From operations (derived)
+€249,215
Net result for the year
+€123,232
Depreciation
+€147,343
Receivables within one year
-€19,705
Deferred charges and accrued income
-€115
Trade debts
+€6,041
Tax, wage and social debts
-€7,581
Financing
-€225,820
Debts after one year
-€228,659
Current portion of long-term debt
+€2,839
Cash 2025
€373,920
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,614,988 | €2,510,860 | -€104,128 | -4.0% |
| Fixed assets | 21/28 | €2,258,867 | €2,111,524 | -€147,343 | -6.5% |
| Tangible fixed assets | 22/27 | €2,258,867 | €2,111,524 | -€147,343 | -6.5% |
| Land and buildings | 22 | €2,152,300 | €2,042,800 | -€109,500 | -5.1% |
| Furniture and vehicles | 24 | €106,567 | €68,724 | -€37,843 | -35.5% |
| Current assets | 29/58 | €356,121 | €399,336 | +€43,215 | +12.1% |
| Amounts receivable within one year | 40/41 | €2,416 | €22,120 | +€19,705 | +816% |
| Trade receivables | 40 | €40 | €1,986 | +€1,946 | +4,865% |
| Other amounts receivable | 41 | €2,376 | €20,134 | +€17,759 | +747% |
| Cash at bank and in hand | 54/58 | €350,524 | €373,920 | +€23,396 | +6.7% |
| Deferred charges and accrued income | 490/1 | €3,182 | €3,296 | +€115 | +3.6% |
| Total equity and liabilities | 10/49 | €2,614,988 | €2,510,860 | -€104,128 | -4.0% |
| Equity | 10/15 | €358,177 | €481,408 | +€123,232 | +34.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €348,177 | €471,408 | +€123,232 | +35.4% |
| Tax-exempt reserves | 132 | €62,948 | €105,048 | +€42,100 | +66.9% |
| Distributable reserves | 133 | €285,229 | €366,361 | +€81,132 | +28.4% |
| Amounts payable | 17/49 | €2,256,811 | €2,029,452 | -€227,359 | -10.1% |
| Amounts payable after more than one year | 17 | €1,995,402 | €1,766,743 | -€228,659 | -11.5% |
| Financial debts | 170/4 | €1,995,402 | €1,766,743 | -€228,659 | -11.5% |
| Amounts payable within one year | 42/48 | €261,410 | €262,709 | +€1,299 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €225,820 | €228,659 | +€2,839 | +1.3% |
| Trade debts | 44 | €5,599 | €11,640 | +€6,041 | +108% |
| Suppliers | 440/4 | €5,599 | €11,640 | +€6,041 | +108% |
| Taxes, remuneration and social security | 45 | €29,991 | €22,410 | -€7,581 | -25.3% |
| Taxes | 450/3 | €17,212 | €18,085 | +€873 | +5.1% |
| Remuneration and social security | 454/9 | €12,779 | €4,325 | -€8,454 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,763 | €147,343 | +€9,579 | +7.0% |
| Other operating charges | 640/8 | €10,615 | €11,574 | +€959 | +9.0% |
| Gross operating margin | 9900 | €341,347 | €339,247 | -€2,100 | -0.6% |
| Operating profit (loss) | 9901 | €192,969 | €180,330 | -€12,639 | -6.5% |
| Financial income | 75/76B | €2,795 | €1,744 | -€1,051 | -37.6% |
| Recurring financial income | 75 | €2,795 | €1,744 | -€1,051 | -37.6% |
| Financial charges | 65/66B | €21,882 | €19,358 | -€2,524 | -11.5% |
| Recurring financial charges | 65 | €21,882 | €19,358 | -€2,524 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €173,881 | €162,716 | -€11,165 | -6.4% |
| Income taxes | 67/77 | €33,743 | €39,484 | +€5,742 | +17.0% |
| Profit (loss) for the period | 9904 | €140,139 | €123,232 | -€16,907 | -12.1% |
| Transfer to tax-exempt reserves | 689 | €62,948 | €42,100 | -€20,848 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,191 | €81,132 | +€3,941 | +5.1% |
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 14 October 2026 via checked.be.