VDV Consultants: 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 Consultants
Largest movements
- Current investments -€217,696
down €217,696 (-99.9%), from €217,828 to €132
- Cash -€43,163
down €43,163 (-16.8%), from €256,315 to €213,151
mainly Contributions, distributions and other (-€460,719) and Other debts (-€50,233)
- Receivables within one year +€30,519
up €30,519 (+12.9%), from €236,925 to €267,445
of which Trade receivables: +€26,529
- Tangible fixed assets -€20,833
down €20,833 (-20.3%), from €102,605 to €81,772
of which Other tangible fixed assets: -€14,681
- Deferred charges and accrued income -€9,031
down €9,031 (-34.6%), from €26,079 to €17,048
- Profit (loss) carried forward -€225,429
down €225,429 (-41.3%), from €546,234 to €320,805
- Other debts -€50,233
down €50,233 (-52.7%), from €95,406 to €45,174
- Trade debts +€29,190
up €29,190 (+48.0%), from €60,833 to €90,023
- Short-term financial debts -€17,000
down €17,000 (-94.4%), from €18,000 to €1,000
- Staff costs -€21,880
down €21,880 (-7.4%), from €294,135 to €272,254
- Gross operating margin -€17,511
down €17,511 (-2.8%), from €622,865 to €605,354
- Write-downs -€17,329
down €17,329, from €6,737 to -€10,591
- Taxes +€14,276
up €14,276 (+25.1%), from €56,872 to €71,148
- Other operating charges +€6,449
up €6,449 (+488%), from €1,321 to €7,770
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 | €849,076 | €585,161 | -€263,915 | -31.1% |
| Fixed assets | 21/28 | €106,344 | €85,242 | -€21,102 | -19.8% |
| Intangible fixed assets | 21 | €1,056 | €787 | -€269 | -25.4% |
| Tangible fixed assets | 22/27 | €102,605 | €81,772 | -€20,833 | -20.3% |
| Furniture and vehicles | 24 | €24,550 | €18,398 | -€6,153 | -25.1% |
| Other tangible fixed assets | 26 | €78,055 | €63,374 | -€14,681 | -18.8% |
| Financial fixed assets | 28 | €2,683 | €2,683 | = | 0.0% |
| Current assets | 29/58 | €742,732 | €499,919 | -€242,813 | -32.7% |
| Stocks and contracts in progress | 3 | €5,586 | €2,144 | -€3,442 | -61.6% |
| Contracts in progress | 37 | €5,586 | €2,144 | -€3,442 | -61.6% |
| Amounts receivable within one year | 40/41 | €236,925 | €267,445 | +€30,519 | +12.9% |
| Trade receivables | 40 | €236,925 | €263,454 | +€26,529 | +11.2% |
| Other amounts receivable | 41 | - | €3,991 | +€3,991 | |
| Current investments | 50/53 | €217,828 | €132 | -€217,696 | -99.9% |
| Cash at bank and in hand | 54/58 | €256,315 | €213,151 | -€43,163 | -16.8% |
| Deferred charges and accrued income | 490/1 | €26,079 | €17,048 | -€9,031 | -34.6% |
| Total equity and liabilities | 10/49 | €849,076 | €585,161 | -€263,915 | -31.1% |
| Equity | 10/15 | €566,694 | €341,265 | -€225,429 | -39.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €546,234 | €320,805 | -€225,429 | -41.3% |
| Amounts payable | 17/49 | €282,382 | €243,896 | -€38,486 | -13.6% |
| Amounts payable after more than one year | 17 | €29,851 | €22,199 | -€7,651 | -25.6% |
| Financial debts | 170/4 | €29,851 | €22,199 | -€7,651 | -25.6% |
| Amounts payable within one year | 42/48 | €249,291 | €218,521 | -€30,770 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €7,557 | €7,651 | +€94 | +1.2% |
| Financial debts | 43 | €18,000 | €1,000 | -€17,000 | -94.4% |
| Credit institutions | 430/8 | €18,000 | €1,000 | -€17,000 | -94.4% |
| Trade debts | 44 | €60,833 | €90,023 | +€29,190 | +48.0% |
| Suppliers | 440/4 | €60,833 | €90,023 | +€29,190 | +48.0% |
| Taxes, remuneration and social security | 45 | €67,494 | €74,673 | +€7,179 | +10.6% |
| Taxes | 450/3 | €37,659 | €50,609 | +€12,950 | +34.4% |
| Remuneration and social security | 454/9 | €29,835 | €24,064 | -€5,771 | -19.3% |
| Other amounts payable | 47/48 | €95,406 | €45,174 | -€50,233 | -52.7% |
| Accrued charges and deferred income | 492/3 | €3,240 | €3,175 | -€65 | -2.0% |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Remuneration, social security and pensions | 62 | €294,135 | €272,254 | -€21,880 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,744 | €21,855 | -€2,889 | -11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,737 | -€10,591 | -€17,329 | |
| Other operating charges | 640/8 | €1,321 | €7,770 | +€6,449 | +488% |
| Non-recurring operating charges | 66A | - | €563 | +€563 | |
| Gross operating margin | 9900 | €622,865 | €605,354 | -€17,511 | -2.8% |
| Operating profit (loss) | 9901 | €295,928 | €313,503 | +€17,575 | +5.9% |
| Financial income | 75/76B | €3,637 | €1,892 | -€1,745 | -48.0% |
| Recurring financial income | 75 | €3,637 | €1,892 | -€1,745 | -48.0% |
| Financial charges | 65/66B | €6,719 | €8,957 | +€2,238 | +33.3% |
| Recurring financial charges | 65 | €6,719 | €8,957 | +€2,238 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €292,845 | €306,437 | +€13,592 | +4.6% |
| Income taxes | 67/77 | €56,872 | €71,148 | +€14,276 | +25.1% |
| Profit (loss) for the period | 9904 | €235,973 | €235,290 | -€684 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €235,973 | €235,290 | -€684 | -0.3% |
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 31 October 2026 via checked.be.