VDBD 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.
VDBD CONSULTING
Largest movements
- Cash -€38,805
down €38,805 (-21.2%), from €183,305 to €144,501
mainly Contributions, distributions and other (-€142,351) and Investment in fixed assets (net) (-€36,973)
- Receivables within one year -€36,070
down €36,070 (-71.4%), from €50,538 to €14,468
of which Trade receivables: -€39,575
- Tangible fixed assets +€29,051
up €29,051 (+2,629%), from €1,105 to €30,156
- Reserves -€66,267
no longer reported in 2025 (was €66,267)
- Current portion of long-term debt +€17,464
new in 2025: €17,464
- Debts after one year +€10,383
new in 2025: €10,383
- Trade debts +€8,309
up €8,309 (+1,354%), from €614 to €8,923
- Other debts -€7,856
down €7,856 (-5.2%), from €150,961 to €143,105
- Depreciation +€6,736
up €6,736 (+568%), from €1,186 to €7,922
- Gross operating margin -€6,492
down €6,492 (-5.8%), from €112,708 to €106,216
- Taxes -€4,011
down €4,011 (-16.9%), from €23,756 to €19,745
- Other operating charges +€1,198
up €1,198 (+174%), from €690 to €1,889
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 | €234,948 | €189,932 | -€45,016 | -19.2% |
| Fixed assets | 21/28 | €1,105 | €30,156 | +€29,051 | +2,629% |
| Tangible fixed assets | 22/27 | €1,105 | €30,156 | +€29,051 | +2,629% |
| Furniture and vehicles | 24 | €1,105 | €30,156 | +€29,051 | +2,629% |
| Current assets | 29/58 | €233,843 | €159,776 | -€74,067 | -31.7% |
| Amounts receivable within one year | 40/41 | €50,538 | €14,468 | -€36,070 | -71.4% |
| Trade receivables | 40 | €50,538 | €10,963 | -€39,575 | -78.3% |
| Other amounts receivable | 41 | - | €3,505 | +€3,505 | |
| Cash at bank and in hand | 54/58 | €183,305 | €144,501 | -€38,805 | -21.2% |
| Deferred charges and accrued income | 490/1 | - | €808 | +€808 | |
| Total equity and liabilities | 10/49 | €234,948 | €189,932 | -€45,016 | -19.2% |
| Equity | 10/15 | €66,267 | - | -€66,267 | |
| Reserves | 13 | €66,267 | - | -€66,267 | |
| Distributable reserves | 133 | €66,267 | - | -€66,267 | |
| Amounts payable | 17/49 | €168,681 | €189,932 | +€21,251 | +12.6% |
| Amounts payable after more than one year | 17 | - | €10,383 | +€10,383 | |
| Financial debts | 170/4 | - | €10,383 | +€10,383 | |
| Amounts payable within one year | 42/48 | €168,681 | €179,549 | +€10,868 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | - | €17,464 | +€17,464 | |
| Trade debts | 44 | €614 | €8,923 | +€8,309 | +1,354% |
| Suppliers | 440/4 | €614 | €8,923 | +€8,309 | +1,354% |
| Taxes, remuneration and social security | 45 | €17,106 | €10,057 | -€7,050 | -41.2% |
| Taxes | 450/3 | €17,106 | €10,057 | -€7,050 | -41.2% |
| Other amounts payable | 47/48 | €150,961 | €143,105 | -€7,856 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,186 | €7,922 | +€6,736 | +568% |
| Other operating charges | 640/8 | €690 | €1,889 | +€1,198 | +174% |
| Gross operating margin | 9900 | €112,708 | €106,216 | -€6,492 | -5.8% |
| Operating profit (loss) | 9901 | €110,832 | €96,406 | -€14,427 | -13.0% |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €247 | €577 | +€330 | +134% |
| Recurring financial charges | 65 | €247 | €577 | +€330 | +134% |
| Profit (loss) for the period before taxes | 9903 | €110,601 | €95,828 | -€14,773 | -13.4% |
| Income taxes | 67/77 | €23,756 | €19,745 | -€4,011 | -16.9% |
| Profit (loss) for the period | 9904 | €86,845 | €76,084 | -€10,762 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,845 | €76,084 | -€10,762 | -12.4% |
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 20 October 2026 via checked.be.