VBF CONSEIL: 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.
VBF CONSEIL
Largest movements
- Receivables within one year +€25,638
up €25,638 (+7.4%), from €347,176 to €372,814
of which Trade receivables: +€16,325
- Cash -€4,340
down €4,340 (-75.8%), from €5,730 to €1,389
mainly Contributions, distributions and other (-€199,000) and Receivables within one year (-€25,638)
- Other debts +€50,000
new in 2025: €50,000
- Profit (loss) carried forward -€37,159
down €37,159 (-21.7%), from €170,888 to €133,729
- Gross operating margin -€104,820
down €104,820 (-33.6%), from €311,996 to €207,176
- Taxes -€27,930
down €27,930 (-34.2%), from €81,779 to €53,849
- Other operating charges -€5,532
down €5,532 (-75.1%), from €7,368 to €1,836
- Depreciation -€4,503
down €4,503 (-55.2%), from €8,163 to €3,660
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.
Cash bridge derived
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 | €361,964 | €380,606 | +€18,642 | +5.2% |
| Fixed assets | 21/28 | €6,351 | €3,396 | -€2,955 | -46.5% |
| Tangible fixed assets | 22/27 | €6,351 | €3,396 | -€2,955 | -46.5% |
| Furniture and vehicles | 24 | €1,587 | €1,023 | -€564 | -35.6% |
| Other tangible fixed assets | 26 | €4,763 | €2,373 | -€2,391 | -50.2% |
| Current assets | 29/58 | €355,613 | €377,210 | +€21,597 | +6.1% |
| Amounts receivable within one year | 40/41 | €347,176 | €372,814 | +€25,638 | +7.4% |
| Trade receivables | 40 | €257 | €16,581 | +€16,325 | +6359.9% |
| Other amounts receivable | 41 | €346,919 | €356,232 | +€9,313 | +2.7% |
| Cash at bank and in hand | 54/58 | €5,730 | €1,389 | -€4,340 | -75.8% |
| Deferred charges and accrued income | 490/1 | €2,707 | €3,007 | +€300 | +11.1% |
| Total equity and liabilities | 10/49 | €361,964 | €380,606 | +€18,642 | +5.2% |
| Equity | 10/15 | €191,348 | €154,189 | -€37,159 | -19.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,888 | €133,729 | -€37,159 | -21.7% |
| Amounts payable | 17/49 | €170,616 | €226,417 | +€55,801 | +32.7% |
| Amounts payable within one year | 42/48 | €170,616 | €226,417 | +€55,801 | +32.7% |
| Financial debts | 43 | €20,031 | €23,369 | +€3,338 | +16.7% |
| Credit institutions | 430/8 | €20,031 | €23,369 | +€3,338 | +16.7% |
| Trade debts | 44 | €18,499 | €21,613 | +€3,114 | +16.8% |
| Suppliers | 440/4 | €18,499 | €21,613 | +€3,114 | +16.8% |
| Taxes, remuneration and social security | 45 | €132,086 | €131,436 | -€650 | -0.5% |
| Taxes | 450/3 | €132,086 | €131,436 | -€650 | -0.5% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,163 | €3,660 | -€4,503 | -55.2% |
| Other operating charges | 640/8 | €7,368 | €1,836 | -€5,532 | -75.1% |
| Gross operating margin | 9900 | €311,996 | €207,176 | -€104,820 | -33.6% |
| Operating profit (loss) | 9901 | €296,465 | €201,680 | -€94,785 | -32.0% |
| Financial income | 75/76B | €21,241 | €19,052 | -€2,189 | -10.3% |
| Recurring financial income | 75 | €21,241 | €19,052 | -€2,189 | -10.3% |
| Financial charges | 65/66B | €3,940 | €5,043 | +€1,103 | +28.0% |
| Recurring financial charges | 65 | €3,940 | €5,043 | +€1,103 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €313,767 | €215,689 | -€98,078 | -31.3% |
| Income taxes | 67/77 | €81,779 | €53,849 | -€27,930 | -34.2% |
| Profit (loss) for the period | 9904 | €231,988 | €161,841 | -€70,147 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €231,988 | €161,841 | -€70,147 | -30.2% |
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 10 October 2026 via checked.be.