VDH Consultancy: what changed
Two fiscal 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.
VDH Consultancy
Largest movements
- Receivables after one year -€175,000
down €175,000 (-23.4%), from €749,100 to €574,100
- Receivables within one year -€124,073
down €124,073 (-52.5%), from €236,113 to €112,039
of which Other amounts receivable: -€124,149
- Cash +€78,831
up €78,831 (+59.9%), from €131,571 to €210,402
mainly Receivables after one year (+€175,000) and Other debts (+€157,895)
- Reserves -€328,651
down €328,651 (-7.7%), from €4.2m to €3.9m
- Other debts +€157,895
up €157,895 (+60.0%), from €263,158 to €421,053
- Other operating charges -€80,338
down €80,338 (-90.5%), from €88,772 to €8,434
- Gross operating margin -€6,652
down €6,652 (-4.6%), from €146,001 to €139,350
- Taxes +€5,150
up €5,150 (+227.1%), from €2,268 to €7,418
- Depreciation -€5,065
down €5,065 (-6.4%), from €79,721 to €74,655
- Financial income -€3,153
down €3,153 (-4.5%), from €69,348 to €66,195
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 | €4,671,077 | €4,514,337 | -€156,739 | -3.4% |
| Fixed assets | 21/28 | €2,331,733 | €2,356,629 | +€24,896 | +1.1% |
| Tangible fixed assets | 22/27 | €2,281,631 | €2,306,527 | +€24,896 | +1.1% |
| Land and buildings | 22 | €2,177,218 | €2,221,087 | +€43,869 | +2.0% |
| Plant, machinery and equipment | 23 | €4,001 | €2,212 | -€1,788 | -44.7% |
| Furniture and vehicles | 24 | €5,288 | €4,057 | -€1,231 | -23.3% |
| Other tangible fixed assets | 26 | €95,124 | €79,171 | -€15,953 | -16.8% |
| Financial fixed assets | 28 | €50,102 | €50,102 | = | 0.0% |
| Current assets | 29/58 | €2,339,343 | €2,157,708 | -€181,635 | -7.8% |
| Amounts receivable after more than one year | 29 | €749,100 | €574,100 | -€175,000 | -23.4% |
| Other amounts receivable | 291 | €749,100 | €574,100 | -€175,000 | -23.4% |
| Amounts receivable within one year | 40/41 | €236,113 | €112,039 | -€124,073 | -52.5% |
| Trade receivables | 40 | €33,519 | €33,595 | +€76 | +0.2% |
| Other amounts receivable | 41 | €202,594 | €78,444 | -€124,149 | -61.3% |
| Current investments | 50/53 | €1,214,110 | €1,240,938 | +€26,828 | +2.2% |
| Cash at bank and in hand | 54/58 | €131,571 | €210,402 | +€78,831 | +59.9% |
| Deferred charges and accrued income | 490/1 | €8,449 | €20,229 | +€11,780 | +139.4% |
| Total equity and liabilities | 10/49 | €4,671,077 | €4,514,337 | -€156,739 | -3.4% |
| Equity | 10/15 | €4,265,200 | €3,936,549 | -€328,651 | -7.7% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €4,244,200 | €3,915,549 | -€328,651 | -7.7% |
| Distributable reserves | 133 | €4,244,200 | €3,915,549 | -€328,651 | -7.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €405,877 | €577,789 | +€171,912 | +42.4% |
| Amounts payable after more than one year | 17 | €103,453 | €80,625 | -€22,827 | -22.1% |
| Financial debts | 170/4 | €103,453 | €80,625 | -€22,827 | -22.1% |
| Amounts payable within one year | 42/48 | €301,700 | €496,416 | +€194,716 | +64.5% |
| Current portion of amounts payable after more than one year | 42 | €16,547 | €22,827 | +€6,280 | +37.9% |
| Trade debts | 44 | €9,796 | €34,013 | +€24,217 | +247.2% |
| Suppliers | 440/4 | €9,796 | €34,013 | +€24,217 | +247.2% |
| Taxes, remuneration and social security | 45 | €12,199 | €18,523 | +€6,325 | +51.8% |
| Taxes | 450/3 | €12,199 | €18,523 | +€6,325 | +51.8% |
| Other amounts payable | 47/48 | €263,158 | €421,053 | +€157,895 | +60.0% |
| Accrued charges and deferred income | 492/3 | €724 | €747 | +€22 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,721 | €74,655 | -€5,065 | -6.4% |
| Other operating charges | 640/8 | €88,772 | €8,434 | -€80,338 | -90.5% |
| Gross operating margin | 9900 | €146,001 | €139,350 | -€6,652 | -4.6% |
| Operating profit (loss) | 9901 | -€22,491 | €56,261 | +€78,752 | |
| Financial income | 75/76B | €69,348 | €66,195 | -€3,153 | -4.5% |
| Recurring financial income | 75 | €69,348 | €66,195 | -€3,153 | -4.5% |
| Financial charges | 65/66B | €22,422 | €22,636 | +€215 | +1.0% |
| Recurring financial charges | 65 | €22,422 | €22,636 | +€215 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €24,436 | €99,820 | +€75,384 | +308.5% |
| Income taxes | 67/77 | €2,268 | €7,418 | +€5,150 | +227.1% |
| Profit (loss) for the period | 9904 | €22,168 | €92,402 | +€70,234 | +316.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,168 | €92,402 | +€70,234 | +316.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.