Vg-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.
Vg-Consult
Largest movements
- Cash +€136,091
up €136,091 (+102.9%), from €132,200 to €268,291
mainly Net result for the year (+€207,178) and Tax, wage and social debts (+€34,623)
- Deferred charges and accrued income +€71,889
up €71,889 (+1562.5%), from €4,601 to €76,490
- Tangible fixed assets +€15,510
up €15,510 (+3.0%), from €510,679 to €526,189
of which Furniture and vehicles: +€37,006
- Reserves +€207,178
up €207,178 (+56.1%), from €369,122 to €576,300
- Tax, wage and social debts +€34,623
up €34,623 (+55.9%), from €61,955 to €96,578
of which Taxes: +€34,623
- Debts after one year -€20,072
down €20,072 (-9.8%), from €205,549 to €185,477
- Purchases and services -€106,186
no longer reported in 2025 (was €106,186)
- Gross operating margin +€84,328
up €84,328 (+32.5%), from €259,277 to €343,605
- Other operating charges -€55,942
down €55,942 (-96.9%), from €57,729 to €1,787
- Taxes +€45,096
up €45,096 (+88.0%), from €51,250 to €96,346
- Depreciation +€16,811
up €16,811 (+112.0%), from €15,008 to €31,819
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 | €672,436 | €897,116 | +€224,680 | +33.4% |
| Fixed assets | 21/28 | €510,679 | €526,189 | +€15,510 | +3.0% |
| Tangible fixed assets | 22/27 | €510,679 | €526,189 | +€15,510 | +3.0% |
| Land and buildings | 22 | €476,367 | €458,941 | -€17,426 | -3.7% |
| Plant, machinery and equipment | 23 | €11,838 | €7,768 | -€4,070 | -34.4% |
| Furniture and vehicles | 24 | €22,474 | €59,480 | +€37,006 | +164.7% |
| Current assets | 29/58 | €161,757 | €370,927 | +€209,170 | +129.3% |
| Amounts receivable within one year | 40/41 | €24,955 | €26,145 | +€1,190 | +4.8% |
| Trade receivables | 40 | €24,955 | €25,626 | +€672 | +2.7% |
| Other amounts receivable | 41 | €1 | €519 | +€518 | +65577.2% |
| Cash at bank and in hand | 54/58 | €132,200 | €268,291 | +€136,091 | +102.9% |
| Deferred charges and accrued income | 490/1 | €4,601 | €76,490 | +€71,889 | +1562.5% |
| Total equity and liabilities | 10/49 | €672,436 | €897,116 | +€224,680 | +33.4% |
| Equity | 10/15 | €374,122 | €581,300 | +€207,178 | +55.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €369,122 | €576,300 | +€207,178 | +56.1% |
| Distributable reserves | 133 | €369,122 | €576,300 | +€207,178 | +56.1% |
| Amounts payable | 17/49 | €298,313 | €315,816 | +€17,502 | +5.9% |
| Amounts payable after more than one year | 17 | €205,549 | €185,477 | -€20,072 | -9.8% |
| Financial debts | 170/4 | €205,549 | €185,477 | -€20,072 | -9.8% |
| Amounts payable within one year | 42/48 | €92,764 | €127,832 | +€35,068 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €19,451 | €20,072 | +€622 | +3.2% |
| Trade debts | 44 | €4,751 | €3,931 | -€820 | -17.3% |
| Suppliers | 440/4 | €4,751 | €3,931 | -€820 | -17.3% |
| Taxes, remuneration and social security | 45 | €61,955 | €96,578 | +€34,623 | +55.9% |
| Taxes | 450/3 | €59,364 | €93,987 | +€34,623 | +58.3% |
| Remuneration and social security | 454/9 | €2,591 | €2,591 | = | 0.0% |
| Other amounts payable | 47/48 | €6,608 | €7,251 | +€643 | +9.7% |
| Accrued charges and deferred income | 492/3 | - | €2,507 | +€2,507 | |
| Non-recurring operating income | 76A | - | €4,923 | +€4,923 | |
| Goods, raw materials, services and sundry goods | 60/61 | €106,186 | - | -€106,186 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,008 | €31,819 | +€16,811 | +112.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €57,729 | €1,787 | -€55,942 | -96.9% |
| Gross operating margin | 9900 | €259,277 | €343,605 | +€84,328 | +32.5% |
| Operating profit (loss) | 9901 | €186,541 | €309,999 | +€123,459 | +66.2% |
| Financial income | 75/76B | €2,280 | €870 | -€1,410 | -61.8% |
| Recurring financial income | 75 | €2,280 | €870 | -€1,410 | -61.8% |
| Financial charges | 65/66B | €18,470 | €7,345 | -€11,125 | -60.2% |
| Recurring financial charges | 65 | €18,470 | €7,345 | -€11,125 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €170,351 | €303,524 | +€133,173 | +78.2% |
| Income taxes | 67/77 | €51,250 | €96,346 | +€45,096 | +88.0% |
| Profit (loss) for the period | 9904 | €119,100 | €207,178 | +€88,077 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €119,100 | €207,178 | +€88,077 | +74.0% |
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 9 October 2026 via checked.be.