VD CONSULTING: 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 CONSULTING
Largest movements
- Cash -€54,441
down €54,441 (-89.6%), from €60,772 to €6,331
mainly Net result for the year (-€94,784) and Debts after one year (-€45,221)
- Tangible fixed assets +€15,105
up €15,105 (+1.4%), from €1.0m to €1.1m
of which Furniture and vehicles: +€28,371
- Other debts +€125,043
up €125,043 (+2,726%), from €4,588 to €129,631
- Reserves -€91,784
down €91,784 (-18.1%), from €505,744 to €413,960
- Debts after one year -€45,221
down €45,221 (-74.9%), from €60,393 to €15,172
- Tax, wage and social debts -€18,246
down €18,246 (-99.6%), from €18,313 to €67
- Financial income -€170,295
down €170,295 (-100%), from €170,295 to €0
of which Financial income: -€134,581
- Gross operating margin +€32,480
up €32,480 (+36.1%), from -€89,969 to -€57,489
- Other operating charges +€6,844
up €6,844 (+221%), from €3,099 to €9,943
- Financial charges -€5,241
down €5,241 (-46.5%), from €11,274 to €6,033
- Depreciation +€1,227
up €1,227 (+6.1%), from €20,092 to €21,319
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 | €1,108,926 | €1,067,638 | -€41,289 | -3.7% |
| Fixed assets | 21/28 | €1,046,038 | €1,061,143 | +€15,105 | +1.4% |
| Tangible fixed assets | 22/27 | €1,046,038 | €1,061,143 | +€15,105 | +1.4% |
| Land and buildings | 22 | €238,734 | €232,613 | -€6,121 | -2.6% |
| Plant, machinery and equipment | 23 | €40,921 | €33,777 | -€7,145 | -17.5% |
| Furniture and vehicles | 24 | €766,383 | €794,754 | +€28,371 | +3.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €62,888 | €6,494 | -€56,394 | -89.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €60,772 | €6,331 | -€54,441 | -89.6% |
| Deferred charges and accrued income | 490/1 | €2,116 | €163 | -€1,953 | -92.3% |
| Total equity and liabilities | 10/49 | €1,108,926 | €1,067,638 | -€41,289 | -3.7% |
| Equity | 10/15 | €838,194 | €743,410 | -€94,784 | -11.3% |
| Contributions | 10/11 | €272,450 | €272,450 | = | 0.0% |
| Revaluation surpluses | 12 | €60,000 | €57,000 | -€3,000 | -5.0% |
| Reserves | 13 | €505,744 | €413,960 | -€91,784 | -18.1% |
| Distributable reserves | 133 | €505,744 | €413,960 | -€91,784 | -18.1% |
| Provisions and deferred taxes | 16 | €116,514 | €116,514 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €116,514 | €116,514 | = | 0.0% |
| Pensions and similar obligations | 160 | €116,514 | €116,514 | = | 0.0% |
| Amounts payable | 17/49 | €154,218 | €207,714 | +€53,495 | +34.7% |
| Amounts payable after more than one year | 17 | €60,393 | €15,172 | -€45,221 | -74.9% |
| Financial debts | 170/4 | €60,393 | €15,172 | -€45,221 | -74.9% |
| Amounts payable within one year | 42/48 | €93,825 | €192,541 | +€98,716 | +105% |
| Current portion of amounts payable after more than one year | 42 | €44,750 | €45,221 | +€471 | +1.1% |
| Financial debts | 43 | €12,000 | €5,500 | -€6,500 | -54.2% |
| Credit institutions | 430/8 | €12,000 | €5,500 | -€6,500 | -54.2% |
| Trade debts | 44 | €14,175 | €12,123 | -€2,052 | -14.5% |
| Suppliers | 440/4 | €14,175 | €12,123 | -€2,052 | -14.5% |
| Taxes, remuneration and social security | 45 | €18,313 | €67 | -€18,246 | -99.6% |
| Taxes | 450/3 | €18,313 | €67 | -€18,246 | -99.6% |
| Other amounts payable | 47/48 | €4,588 | €129,631 | +€125,043 | +2,726% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,092 | €21,319 | +€1,227 | +6.1% |
| Other operating charges | 640/8 | €3,099 | €9,943 | +€6,844 | +221% |
| Gross operating margin | 9900 | -€89,969 | -€57,489 | +€32,480 | +36.1% |
| Operating profit (loss) | 9901 | -€113,160 | -€88,751 | +€24,409 | +21.6% |
| Financial income | 75/76B | €170,295 | €0 | -€170,295 | -100% |
| Recurring financial income | 75 | €134,581 | €0 | -€134,581 | -100% |
| Non-recurring financial income | 76B | €35,715 | €0 | -€35,715 | -100% |
| Financial charges | 65/66B | €11,274 | €6,033 | -€5,241 | -46.5% |
| Recurring financial charges | 65 | €11,274 | €6,033 | -€5,241 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | €45,862 | -€94,784 | -€140,646 | |
| Income taxes | 67/77 | €67 | €0 | -€67 | -100% |
| Profit (loss) for the period | 9904 | €45,795 | -€94,784 | -€140,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,795 | -€94,784 | -€140,579 |
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 13 October 2026 via checked.be.