VCN CONSULTANCY: 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.
VCN CONSULTANCY
Largest movements
- Cash +€65,897
up €65,897 (+574%), from €11,474 to €77,371
mainly Net result for the year (+€69,814) and Tax, wage and social debts (+€24,636)
- Tangible fixed assets +€47,923
up €47,923 (+135%), from €35,577 to €83,499
of which Plant, machinery and equipment: +€46,623
- Receivables within one year +€16,384
up €16,384 (+1,633%), from €1,003 to €17,387
of which Trade receivables: +€13,548
- Stocks and contracts -€3,707
down €3,707 (-73.8%), from €5,024 to €1,316
- Intangible fixed assets -€3,151
down €3,151 (-11.7%), from €26,903 to €23,752
- Reserves +€69,814
up €69,814 (+567%), from €12,317 to €82,131
- Tax, wage and social debts +€24,636
up €24,636 (+535%), from €4,603 to €29,239
of which Taxes: +€22,422
- Debts after one year +€20,656
up €20,656 (+59.1%), from €34,973 to €55,628
- Current portion of long-term debt +€8,279
up €8,279 (+83.8%), from €9,876 to €18,155
- Trade debts +€4,901
up €4,901 (+39.5%), from €12,395 to €17,295
- Gross operating margin +€84,664
up €84,664 (+247%), from €34,345 to €119,008
- Taxes +€14,048
up €14,048 (+386%), from €3,642 to €17,690
- Depreciation +€4,939
up €4,939 (+61.4%), from €8,039 to €12,978
- Other operating charges +€3,896
up €3,896 (+175%), from €2,221 to €6,117
- Financial charges +€3,173
up €3,173 (+53.7%), from €5,913 to €9,087
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 | €87,181 | €213,148 | +€125,967 | +144% |
| Fixed assets | 21/28 | €69,681 | €114,481 | +€44,800 | +64.3% |
| Intangible fixed assets | 21 | €26,903 | €23,752 | -€3,151 | -11.7% |
| Tangible fixed assets | 22/27 | €35,577 | €83,499 | +€47,923 | +135% |
| Plant, machinery and equipment | 23 | €33,595 | €80,218 | +€46,623 | +139% |
| Furniture and vehicles | 24 | €389 | €1,866 | +€1,477 | +380% |
| Other tangible fixed assets | 26 | €1,593 | €1,416 | -€177 | -11.1% |
| Financial fixed assets | 28 | €7,200 | €7,229 | +€29 | +0.4% |
| Current assets | 29/58 | €17,501 | €98,667 | +€81,167 | +464% |
| Stocks and contracts in progress | 3 | €5,024 | €1,316 | -€3,707 | -73.8% |
| Stocks | 30/36 | €5,024 | €1,316 | -€3,707 | -73.8% |
| Amounts receivable within one year | 40/41 | €1,003 | €17,387 | +€16,384 | +1,633% |
| Trade receivables | 40 | €169 | €13,717 | +€13,548 | +8,035% |
| Other amounts receivable | 41 | €835 | €3,670 | +€2,836 | +340% |
| Cash at bank and in hand | 54/58 | €11,474 | €77,371 | +€65,897 | +574% |
| Deferred charges and accrued income | 490/1 | - | €2,593 | +€2,593 | |
| Total equity and liabilities | 10/49 | €87,181 | €213,148 | +€125,967 | +144% |
| Equity | 10/15 | €17,317 | €87,131 | +€69,814 | +403% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,317 | €82,131 | +€69,814 | +567% |
| Distributable reserves | 133 | €12,317 | €82,131 | +€69,814 | +567% |
| Amounts payable | 17/49 | €69,864 | €126,017 | +€56,153 | +80.4% |
| Amounts payable after more than one year | 17 | €34,973 | €55,628 | +€20,656 | +59.1% |
| Financial debts | 170/4 | €34,973 | €55,628 | +€20,656 | +59.1% |
| Amounts payable within one year | 42/48 | €28,824 | €66,639 | +€37,815 | +131% |
| Current portion of amounts payable after more than one year | 42 | €9,876 | €18,155 | +€8,279 | +83.8% |
| Trade debts | 44 | €12,395 | €17,295 | +€4,901 | +39.5% |
| Suppliers | 440/4 | €12,395 | €17,295 | +€4,901 | +39.5% |
| Taxes, remuneration and social security | 45 | €4,603 | €29,239 | +€24,636 | +535% |
| Taxes | 450/3 | €4,603 | €27,025 | +€22,422 | +487% |
| Remuneration and social security | 454/9 | - | €2,214 | +€2,214 | |
| Other amounts payable | 47/48 | €1,950 | €1,950 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,067 | €3,750 | -€2,317 | -38.2% |
| Remuneration, social security and pensions | 62 | €2,223 | €3,436 | +€1,214 | +54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,039 | €12,978 | +€4,939 | +61.4% |
| Other operating charges | 640/8 | €2,221 | €6,117 | +€3,896 | +175% |
| Gross operating margin | 9900 | €34,345 | €119,008 | +€84,664 | +247% |
| Operating profit (loss) | 9901 | €21,862 | €96,477 | +€74,615 | +341% |
| Financial income | 75/76B | €10 | €114 | +€104 | +1,021% |
| Recurring financial income | 75 | €10 | €114 | +€104 | +1,021% |
| Financial charges | 65/66B | €5,913 | €9,087 | +€3,173 | +53.7% |
| Recurring financial charges | 65 | €5,913 | €9,087 | +€3,173 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €15,959 | €87,504 | +€71,545 | +448% |
| Income taxes | 67/77 | €3,642 | €17,690 | +€14,048 | +386% |
| Profit (loss) for the period | 9904 | €12,317 | €69,814 | +€57,497 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €12,317 | €69,814 | +€57,497 | +467% |
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 19 October 2026 via checked.be.