VDV 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.
VDV Consult
Largest movements
- Cash +€47,976
up €47,976 (+32.9%), from €145,696 to €193,672
mainly Net result for the year (+€28,799) and Depreciation (+€27,329)
- Stocks and contracts +€28,751
up €28,751 (+23.2%), from €123,711 to €152,462
- Receivables within one year -€23,512
down €23,512 (-23.9%), from €98,445 to €74,933
of which Other amounts receivable: -€28,168
- Tangible fixed assets -€15,134
down €15,134 (-23.0%), from €65,686 to €50,552
of which Furniture and vehicles: -€17,532
- Intangible fixed assets -€6,760
down €6,760 (-39.6%), from €17,081 to €10,321
- Reserves +€13,599
up €13,599 (+3.7%), from €369,300 to €382,899
of which Distributable reserves: +€15,694
- Other debts +€8,495
up €8,495 (+104.1%), from €8,158 to €16,653
- Tax, wage and social debts +€5,812
up €5,812 (+36.5%), from €15,914 to €21,726
of which Taxes: +€4,839
- Gross operating margin +€11,240
up €11,240 (+10.6%), from €106,512 to €117,752
- Staff costs +€7,866
up €7,866 (+21.0%), from €37,514 to €45,380
- Depreciation +€4,438
up €4,438 (+19.4%), from €22,891 to €27,329
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 | €460,413 | €489,203 | +€28,790 | +6.3% |
| Fixed assets | 21/28 | €84,448 | €62,559 | -€21,889 | -25.9% |
| Intangible fixed assets | 21 | €17,081 | €10,321 | -€6,760 | -39.6% |
| Tangible fixed assets | 22/27 | €65,686 | €50,552 | -€15,134 | -23.0% |
| Plant, machinery and equipment | 23 | €4,565 | €6,516 | +€1,951 | +42.7% |
| Furniture and vehicles | 24 | €58,747 | €41,215 | -€17,532 | -29.8% |
| Other tangible fixed assets | 26 | €2,374 | €2,821 | +€447 | +18.8% |
| Financial fixed assets | 28 | €1,681 | €1,686 | +€5 | +0.3% |
| Current assets | 29/58 | €375,965 | €426,644 | +€50,679 | +13.5% |
| Stocks and contracts in progress | 3 | €123,711 | €152,462 | +€28,751 | +23.2% |
| Stocks | 30/36 | €123,711 | €152,462 | +€28,751 | +23.2% |
| Amounts receivable within one year | 40/41 | €98,445 | €74,933 | -€23,512 | -23.9% |
| Trade receivables | 40 | €59,617 | €64,273 | +€4,656 | +7.8% |
| Other amounts receivable | 41 | €38,828 | €10,660 | -€28,168 | -72.5% |
| Cash at bank and in hand | 54/58 | €145,696 | €193,672 | +€47,976 | +32.9% |
| Deferred charges and accrued income | 490/1 | €8,113 | €5,577 | -€2,536 | -31.3% |
| Total equity and liabilities | 10/49 | €460,413 | €489,203 | +€28,790 | +6.3% |
| Equity | 10/15 | €387,900 | €401,499 | +€13,599 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €369,300 | €382,899 | +€13,599 | +3.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,219 | €5,124 | -€2,095 | -29.0% |
| Distributable reserves | 133 | €360,221 | €375,915 | +€15,694 | +4.4% |
| Provisions and deferred taxes | 16 | €2,406 | €1,708 | -€698 | -29.0% |
| Deferred taxes | 168 | €2,406 | €1,708 | -€698 | -29.0% |
| Amounts payable | 17/49 | €70,107 | €85,996 | +€15,889 | +22.7% |
| Amounts payable within one year | 42/48 | €70,107 | €85,996 | +€15,889 | +22.7% |
| Trade debts | 44 | €46,035 | €47,617 | +€1,582 | +3.4% |
| Suppliers | 440/4 | €46,035 | €47,617 | +€1,582 | +3.4% |
| Taxes, remuneration and social security | 45 | €15,914 | €21,726 | +€5,812 | +36.5% |
| Taxes | 450/3 | €9,035 | €13,874 | +€4,839 | +53.6% |
| Remuneration and social security | 454/9 | €6,879 | €7,852 | +€973 | +14.1% |
| Other amounts payable | 47/48 | €8,158 | €16,653 | +€8,495 | +104.1% |
| Remuneration, social security and pensions | 62 | €37,514 | €45,380 | +€7,866 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,891 | €27,329 | +€4,438 | +19.4% |
| Other operating charges | 640/8 | €1,053 | €1,173 | +€120 | +11.4% |
| Gross operating margin | 9900 | €106,512 | €117,752 | +€11,240 | +10.6% |
| Operating profit (loss) | 9901 | €45,054 | €43,870 | -€1,184 | -2.6% |
| Financial income | 75/76B | €11 | €8 | -€3 | -27.3% |
| Recurring financial income | 75 | €11 | €8 | -€3 | -27.3% |
| Financial charges | 65/66B | €1,741 | €1,014 | -€727 | -41.8% |
| Recurring financial charges | 65 | €1,741 | €1,014 | -€727 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €43,324 | €42,864 | -€460 | -1.1% |
| Transfer from deferred taxes | 780 | €699 | €699 | = | 0.0% |
| Income taxes | 67/77 | €14,581 | €14,764 | +€183 | +1.3% |
| Profit (loss) for the period | 9904 | €29,442 | €28,799 | -€643 | -2.2% |
| Transfer from tax-exempt reserves | 789 | €2,095 | €2,095 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,537 | €30,894 | -€643 | -2.0% |
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 11 October 2026 via checked.be.