VF 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.
VF Consulting
Largest movements
- Cash -€20,850
down €20,850 (-37.1%), from €56,201 to €35,351
mainly Contributions, distributions and other (-€71,666) and Tax, wage and social debts (-€12,982)
- Receivables within one year -€18,956
down €18,956 (-86.7%), from €21,871 to €2,915
of which Trade receivables: -€19,874
- Tangible fixed assets -€2,749
down €2,749 (-2.5%), from €112,203 to €109,454
of which Land and buildings: -€5,840
- Reserves -€22,470
down €22,470 (-21.5%), from €104,516 to €82,046
- Other debts +€13,302
up €13,302 (+798%), from €1,666 to €14,968
- Tax, wage and social debts -€12,982
down €12,982 (-26.0%), from €50,023 to €37,041
- Trade debts -€10,117
down €10,117 (-68.4%), from €14,800 to €4,683
- Debts after one year -€6,983
no longer reported in 2025 (was €6,983)
- Gross operating margin -€17,036
down €17,036 (-18.2%), from €93,636 to €76,599
- Taxes -€5,902
down €5,902 (-31.1%), from €18,986 to €13,085
- Financial charges +€2,588
up €2,588 (+79.8%), from €3,241 to €5,829
- Depreciation +€1,150
up €1,150 (+17.4%), from €6,592 to €7,742
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 | €190,275 | €147,720 | -€42,555 | -22.4% |
| Fixed assets | 21/28 | €112,203 | €109,454 | -€2,749 | -2.5% |
| Tangible fixed assets | 22/27 | €112,203 | €109,454 | -€2,749 | -2.5% |
| Land and buildings | 22 | €109,435 | €103,594 | -€5,840 | -5.3% |
| Furniture and vehicles | 24 | €2,769 | €5,860 | +€3,091 | +112% |
| Current assets | 29/58 | €78,072 | €38,266 | -€39,806 | -51.0% |
| Amounts receivable within one year | 40/41 | €21,871 | €2,915 | -€18,956 | -86.7% |
| Trade receivables | 40 | €19,874 | - | -€19,874 | |
| Other amounts receivable | 41 | €1,997 | €2,915 | +€919 | +46.0% |
| Cash at bank and in hand | 54/58 | €56,201 | €35,351 | -€20,850 | -37.1% |
| Total equity and liabilities | 10/49 | €190,275 | €147,720 | -€42,555 | -22.4% |
| Equity | 10/15 | €106,516 | €84,046 | -€22,470 | -21.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €104,516 | €82,046 | -€22,470 | -21.5% |
| Distributable reserves | 133 | €104,516 | €82,046 | -€22,470 | -21.5% |
| Amounts payable | 17/49 | €83,759 | €63,674 | -€20,085 | -24.0% |
| Amounts payable after more than one year | 17 | €6,983 | - | -€6,983 | |
| Financial debts | 170/4 | €6,983 | - | -€6,983 | |
| Amounts payable within one year | 42/48 | €76,776 | €63,674 | -€13,103 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €10,287 | €6,983 | -€3,305 | -32.1% |
| Trade debts | 44 | €14,800 | €4,683 | -€10,117 | -68.4% |
| Suppliers | 440/4 | €14,800 | €4,683 | -€10,117 | -68.4% |
| Taxes, remuneration and social security | 45 | €50,023 | €37,041 | -€12,982 | -26.0% |
| Taxes | 450/3 | €50,023 | €37,041 | -€12,982 | -26.0% |
| Other amounts payable | 47/48 | €1,666 | €14,968 | +€13,302 | +798% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,592 | €7,742 | +€1,150 | +17.4% |
| Other operating charges | 640/8 | €200 | €748 | +€548 | +275% |
| Gross operating margin | 9900 | €93,636 | €76,599 | -€17,036 | -18.2% |
| Operating profit (loss) | 9901 | €86,844 | €68,110 | -€18,735 | -21.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,241 | €5,829 | +€2,588 | +79.8% |
| Recurring financial charges | 65 | €3,241 | €5,829 | +€2,588 | +79.8% |
| Profit (loss) for the period before taxes | 9903 | €83,603 | €62,281 | -€21,322 | -25.5% |
| Income taxes | 67/77 | €18,986 | €13,085 | -€5,902 | -31.1% |
| Profit (loss) for the period | 9904 | €64,617 | €49,196 | -€15,421 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,617 | €49,196 | -€15,421 | -23.9% |
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 22 October 2026 via checked.be.