VD CONSEILS: 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.
VD CONSEILS
Largest movements
- Current investments +€10,651
up €10,651 (+2.3%), from €464,657 to €475,308
- Cash +€7,528
up €7,528 (+65.7%), from €11,463 to €18,991
mainly Net result for the year (+€76,756) and Trade debts (+€976)
- Reserves +€76,756
up €76,756 (+18.1%), from €423,810 to €500,566
of which Distributable reserves: +€76,756
- Other debts -€50,100
down €50,100 (-99.6%), from €50,316 to €216
- Tax, wage and social debts -€8,421
down €8,421 (-31.0%), from €27,168 to €18,747
- Gross operating margin +€17,553
up €17,553 (+24.3%), from €72,176 to €89,730
- Taxes +€5,200
up €5,200 (+16.7%), from €31,164 to €36,364
- Financial income +€1,841
up €1,841 (+8.3%), from €22,211 to €24,052
of which Financial income: +€1,341
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 | €521,429 | €540,640 | +€19,211 | +3.7% |
| Fixed assets | 21/28 | €111 | - | -€111 | |
| Tangible fixed assets | 22/27 | €111 | - | -€111 | |
| Furniture and vehicles | 24 | €111 | - | -€111 | |
| Current assets | 29/58 | €521,317 | €540,640 | +€19,322 | +3.7% |
| Amounts receivable within one year | 40/41 | €45,198 | €45,084 | -€113 | -0.3% |
| Trade receivables | 40 | €45,198 | €43,492 | -€1,706 | -3.8% |
| Other amounts receivable | 41 | - | €1,592 | +€1,592 | |
| Current investments | 50/53 | €464,657 | €475,308 | +€10,651 | +2.3% |
| Cash at bank and in hand | 54/58 | €11,463 | €18,991 | +€7,528 | +65.7% |
| Deferred charges and accrued income | 490/1 | - | €1,257 | +€1,257 | |
| Total equity and liabilities | 10/49 | €521,429 | €540,640 | +€19,211 | +3.7% |
| Equity | 10/15 | €442,621 | €519,377 | +€76,756 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €423,810 | €500,566 | +€76,756 | +18.1% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €421,331 | €498,087 | +€76,756 | +18.2% |
| Profit (loss) carried forward | 14 | €212 | €212 | = | 0.0% |
| Amounts payable | 17/49 | €78,808 | €21,262 | -€57,545 | -73.0% |
| Amounts payable within one year | 42/48 | €78,808 | €21,262 | -€57,545 | -73.0% |
| Trade debts | 44 | €1,324 | €2,300 | +€976 | +73.8% |
| Suppliers | 440/4 | €1,324 | €2,300 | +€976 | +73.8% |
| Taxes, remuneration and social security | 45 | €27,168 | €18,747 | -€8,421 | -31.0% |
| Taxes | 450/3 | €27,168 | €18,747 | -€8,421 | -31.0% |
| Other amounts payable | 47/48 | €50,316 | €216 | -€50,100 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €780 | €111 | -€669 | -85.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €25 | - | -€25 | |
| Gross operating margin | 9900 | €72,176 | €89,730 | +€17,553 | +24.3% |
| Operating profit (loss) | 9901 | €70,983 | €89,218 | +€18,235 | +25.7% |
| Financial income | 75/76B | €22,211 | €24,052 | +€1,841 | +8.3% |
| Recurring financial income | 75 | €22,211 | €23,552 | +€1,341 | +6.0% |
| Non-recurring financial income | 76B | - | €500 | +€500 | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €93,060 | €113,120 | +€20,061 | +21.6% |
| Income taxes | 67/77 | €31,164 | €36,364 | +€5,200 | +16.7% |
| Profit (loss) for the period | 9904 | €61,895 | €76,756 | +€14,861 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,895 | €76,756 | +€14,861 | +24.0% |
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 17 October 2026 via checked.be.