VDP CONSULT: 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.
VDP CONSULT
Largest movements
- Cash -€209,814
down €209,814 (-79.6%), from €263,697 to €53,883
mainly Contributions, distributions and other (-€377,053) and Tax, wage and social debts (-€20,082)
- Tangible fixed assets +€9,485
up €9,485 (+3.4%), from €275,069 to €284,554
of which Furniture and vehicles: +€12,356
- Reserves -€272,968
down €272,968 (-70.7%), from €386,253 to €113,285
of which Distributable reserves: -€272,968
- Other debts +€110,313
up €110,313 (+4,026%), from €2,740 to €113,053
- Tax, wage and social debts -€20,082
down €20,082 (-37.2%), from €54,014 to €33,932
- Debts after one year -€19,240
down €19,240 (-13.4%), from €143,671 to €124,432
- Gross operating margin +€22,587
up €22,587 (+18.0%), from €125,134 to €147,720
- Taxes +€4,673
up €4,673 (+16.3%), from €28,628 to €33,301
- Financial income -€3,211
down €3,211 (-73.8%), from €4,348 to €1,137
- Depreciation +€1,879
up €1,879 (+67.8%), from €2,773 to €4,653
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 | €608,131 | €405,185 | -€202,946 | -33.4% |
| Fixed assets | 21/28 | €275,069 | €284,554 | +€9,485 | +3.4% |
| Tangible fixed assets | 22/27 | €275,069 | €284,554 | +€9,485 | +3.4% |
| Land and buildings | 22 | €257,400 | €257,400 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,123 | €1,139 | -€984 | -46.4% |
| Furniture and vehicles | 24 | - | €12,356 | +€12,356 | |
| Other tangible fixed assets | 26 | €15,546 | €13,659 | -€1,887 | -12.1% |
| Current assets | 29/58 | €333,062 | €120,631 | -€212,431 | -63.8% |
| Amounts receivable within one year | 40/41 | €67,908 | €65,316 | -€2,592 | -3.8% |
| Trade receivables | 40 | €67,908 | €60,797 | -€7,111 | -10.5% |
| Other amounts receivable | 41 | €0 | €4,519 | +€4,519 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €263,697 | €53,883 | -€209,814 | -79.6% |
| Deferred charges and accrued income | 490/1 | €1,457 | €1,432 | -€25 | -1.7% |
| Total equity and liabilities | 10/49 | €608,131 | €405,185 | -€202,946 | -33.4% |
| Equity | 10/15 | €387,253 | €114,285 | -€272,968 | -70.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €386,253 | €113,285 | -€272,968 | -70.7% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €302,053 | €29,085 | -€272,968 | -90.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €220,877 | €290,899 | +€70,022 | +31.7% |
| Amounts payable after more than one year | 17 | €143,671 | €124,432 | -€19,240 | -13.4% |
| Financial debts | 170/4 | €143,671 | €124,432 | -€19,240 | -13.4% |
| Amounts payable within one year | 42/48 | €77,206 | €166,468 | +€89,262 | +116% |
| Current portion of amounts payable after more than one year | 42 | €18,756 | €19,240 | +€484 | +2.6% |
| Trade debts | 44 | €1,697 | €244 | -€1,453 | -85.6% |
| Suppliers | 440/4 | €1,697 | €244 | -€1,453 | -85.6% |
| Taxes, remuneration and social security | 45 | €54,014 | €33,932 | -€20,082 | -37.2% |
| Taxes | 450/3 | €54,014 | €33,932 | -€20,082 | -37.2% |
| Other amounts payable | 47/48 | €2,740 | €113,053 | +€110,313 | +4,026% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,773 | €4,653 | +€1,879 | +67.8% |
| Other operating charges | 640/8 | €642 | €925 | +€283 | +44.2% |
| Gross operating margin | 9900 | €125,134 | €147,720 | +€22,587 | +18.0% |
| Operating profit (loss) | 9901 | €121,718 | €142,142 | +€20,424 | +16.8% |
| Financial income | 75/76B | €4,348 | €1,137 | -€3,211 | -73.8% |
| Recurring financial income | 75 | €4,348 | €1,137 | -€3,211 | -73.8% |
| Financial charges | 65/66B | €4,616 | €5,892 | +€1,277 | +27.7% |
| Recurring financial charges | 65 | €4,616 | €5,892 | +€1,277 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €121,450 | €137,387 | +€15,936 | +13.1% |
| Income taxes | 67/77 | €28,628 | €33,301 | +€4,673 | +16.3% |
| Profit (loss) for the period | 9904 | €92,822 | €104,085 | +€11,263 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,822 | €104,085 | +€11,263 | +12.1% |
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 29 October 2026 via checked.be.