VB&L: what changed
What changed
VB&L
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€938,435
2024 · €32,319+€906,117
Equity
€1.1m
2024 · €203,361+€938,435
Cash
€881,749
2024 · €3,690+€878,059
Balance sheet total
€1.7m
2024 · €3.8m-€2.1m
Largest movements
Assets
- Tangible fixed assets -€3.0m
down €3.0m (-83.0%), from €3.6m to €614,338
of which Land and buildings: -€3.0m
- Cash +€878,059
up €878,059 (+23,794%), from €3,690 to €881,749
mainly Investment in fixed assets (net) (+€2.9m) and Net result for the year (+€938,435)
Equity and liabilities
- Short-term financial debts -€2.1m
down €2.1m (-100%), from €2.1m to €0
- Other debts -€1.1m
down €1.1m (-85.6%), from €1.3m to €193,556
- Reserves +€938,435
up €938,435 (+508%), from €184,761 to €1.1m
of which Tax-exempt reserves: +€935,752
- Provisions +€311,917
new in 2025: €311,917
- Accrued charges and deferred income -€51,946
down €51,946 (-100%), from €51,946 to €0
Income statement
- Gross operating margin +€1.0m
up €1.0m (+326%), from €311,483 to €1.3m
- Depreciation -€125,799
down €125,799 (-74.3%), from €169,304 to €43,505
- Other operating charges -€42,134
down €42,134 (-88.8%), from €47,459 to €5,325
- Financial charges -€15,996
down €15,996 (-30.9%), from €51,763 to €35,767
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
€32,319
Gross operating margin
+€1.0m
Depreciation
+€125,799
Other operating charges
+€42,134
Financial income
+€10,088
Financial charges
+€15,996
Taxes
+€7,799
Deferred taxes and other
-€311,917
Result 2025
€938,435
raises the resultnot broken down further in the accounts
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
+€62,341
Investment
+€2.9m
Financing
-€2.1m
Cash 2024
€3,690
From operations (derived)
+€62,341
Net result for the year
+€938,435
Depreciation
+€43,505
Receivables within one year
-€22,324
Smaller working-capital items
-€606
Provisions
+€311,917
Tax, wage and social debts
-€9,955
Other debts
-€1.1m
Accrued charges and deferred income
-€51,946
Investment (derived)
+€2.9m
Investment in fixed assets (net)
+€2.9m
Financing
-€2.1m
Current portion of long-term debt
-€13,043
Short-term financial debts
-€2.1m
Cash 2025
€881,749
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,761,219 | €1,669,495 | -€2.1m | -55.6% |
| Fixed assets | 21/28 | €3,606,604 | €614,338 | -€3.0m | -83.0% |
| Tangible fixed assets | 22/27 | €3,606,604 | €614,338 | -€3.0m | -83.0% |
| Land and buildings | 22 | €3,588,339 | €606,913 | -€3.0m | -83.1% |
| Furniture and vehicles | 24 | €18,266 | €7,425 | -€10,841 | -59.4% |
| Current assets | 29/58 | €154,615 | €1,055,156 | +€900,542 | +582% |
| Amounts receivable within one year | 40/41 | €148,593 | €170,917 | +€22,324 | +15.0% |
| Trade receivables | 40 | €139,230 | €131,729 | -€7,502 | -5.4% |
| Other amounts receivable | 41 | €9,362 | €39,188 | +€29,826 | +319% |
| Cash at bank and in hand | 54/58 | €3,690 | €881,749 | +€878,059 | +23,794% |
| Deferred charges and accrued income | 490/1 | €2,332 | €2,491 | +€159 | +6.8% |
| Total equity and liabilities | 10/49 | €3,761,219 | €1,669,495 | -€2.1m | -55.6% |
| Equity | 10/15 | €203,361 | €1,141,796 | +€938,435 | +461% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €184,761 | €1,123,196 | +€938,435 | +508% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €935,752 | +€935,752 | |
| Distributable reserves | 133 | €184,761 | €187,444 | +€2,684 | +1.5% |
| Provisions and deferred taxes | 16 | - | €311,917 | +€311,917 | |
| Deferred taxes | 168 | - | €311,917 | +€311,917 | |
| Amounts payable | 17/49 | €3,557,858 | €215,781 | -€3.3m | -93.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,505,912 | €215,781 | -€3.3m | -93.8% |
| Current portion of amounts payable after more than one year | 42 | €13,043 | €0 | -€13,043 | -100% |
| Financial debts | 43 | €2,120,000 | €0 | -€2.1m | -100% |
| Credit institutions | 430/8 | €2,120,000 | €0 | -€2.1m | -100% |
| Trade debts | 44 | €6,118 | €5,670 | -€448 | -7.3% |
| Suppliers | 440/4 | €6,118 | €5,670 | -€448 | -7.3% |
| Taxes, remuneration and social security | 45 | €26,510 | €16,555 | -€9,955 | -37.6% |
| Taxes | 450/3 | €26,510 | €16,555 | -€9,955 | -37.6% |
| Other amounts payable | 47/48 | €1,340,241 | €193,556 | -€1.1m | -85.6% |
| Accrued charges and deferred income | 492/3 | €51,946 | €0 | -€51,946 | -100% |
| Non-recurring operating income | 76A | - | €1,247,669 | +€1.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,304 | €43,505 | -€125,799 | -74.3% |
| Other operating charges | 640/8 | €47,459 | €5,325 | -€42,134 | -88.8% |
| Gross operating margin | 9900 | €311,483 | €1,327,701 | +€1.0m | +326% |
| Operating profit (loss) | 9901 | €94,719 | €1,278,870 | +€1.2m | +1,250% |
| Financial income | 75/76B | - | €10,088 | +€10,088 | |
| Recurring financial income | 75 | - | €10,088 | +€10,088 | |
| Financial charges | 65/66B | €51,763 | €35,767 | -€15,996 | -30.9% |
| Recurring financial charges | 65 | €51,763 | €35,767 | -€15,996 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €42,956 | €1,253,191 | +€1.2m | +2,817% |
| Transfer to deferred taxes | 680 | - | €311,917 | +€311,917 | |
| Income taxes | 67/77 | €10,638 | €2,838 | -€7,799 | -73.3% |
| Profit (loss) for the period | 9904 | €32,319 | €938,435 | +€906,117 | +2,804% |
| Transfer to tax-exempt reserves | 689 | - | €935,752 | +€935,752 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,319 | €2,684 | -€29,635 | -91.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.