VGM-CONSULTANCY: 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.
VGM-CONSULTANCY
Largest movements
- Tangible fixed assets +€89,123
up €89,123 (+3,552%), from €2,509 to €91,632
of which Land and buildings: +€87,554
- Receivables within one year -€14,984
down €14,984 (-68.3%), from €21,938 to €6,954
of which Trade receivables: -€14,984
- Cash -€10,489
down €10,489 (-82.8%), from €12,665 to €2,177
mainly Investment in fixed assets (net) (-€94,873) and Tax, wage and social debts (-€3,725)
- Debts after one year +€57,657
new in 2025: €57,657
- Current portion of long-term debt +€5,453
new in 2025: €5,453
- Tax, wage and social debts -€3,725
down €3,725 (-39.3%), from €9,489 to €5,764
of which Taxes: -€5,225
- Profit (loss) carried forward +€3,533
up €3,533 (+25.4%), from €13,890 to €17,423
- Other debts +€3,092
up €3,092 (+7,283%), from €42 to €3,135
- Gross operating margin -€8,891
down €8,891 (-40.3%), from €22,072 to €13,181
- Staff costs -€4,747
no longer reported in 2025 (was €4,747)
- Depreciation +€2,355
up €2,355 (+69.4%), from €3,395 to €5,750
- Taxes -€2,348
down €2,348 (-53.3%), from €4,404 to €2,056
- Other operating charges -€360
down €360 (-34.0%), from €1,059 to €700
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 | €39,471 | €102,673 | +€63,201 | +160% |
| Fixed assets | 21/28 | €4,372 | €93,495 | +€89,123 | +2,039% |
| Tangible fixed assets | 22/27 | €2,509 | €91,632 | +€89,123 | +3,552% |
| Land and buildings | 22 | - | €87,554 | +€87,554 | |
| Furniture and vehicles | 24 | €2,509 | €4,078 | +€1,569 | +62.5% |
| Financial fixed assets | 28 | €1,863 | €1,863 | = | 0.0% |
| Current assets | 29/58 | €35,099 | €9,178 | -€25,921 | -73.9% |
| Amounts receivable within one year | 40/41 | €21,938 | €6,954 | -€14,984 | -68.3% |
| Trade receivables | 40 | €21,589 | €6,605 | -€14,984 | -69.4% |
| Other amounts receivable | 41 | €349 | €349 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,665 | €2,177 | -€10,489 | -82.8% |
| Deferred charges and accrued income | 490/1 | €496 | €48 | -€448 | -90.4% |
| Total equity and liabilities | 10/49 | €39,471 | €102,673 | +€63,201 | +160% |
| Equity | 10/15 | €15,890 | €19,423 | +€3,533 | +22.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,890 | €17,423 | +€3,533 | +25.4% |
| Amounts payable | 17/49 | €23,581 | €83,249 | +€59,668 | +253% |
| Amounts payable after more than one year | 17 | - | €57,657 | +€57,657 | |
| Financial debts | 170/4 | - | €57,657 | +€57,657 | |
| Amounts payable within one year | 42/48 | €23,581 | €25,592 | +€2,011 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,453 | +€5,453 | |
| Trade debts | 44 | €14,050 | €11,240 | -€2,810 | -20.0% |
| Suppliers | 440/4 | €14,050 | €11,240 | -€2,810 | -20.0% |
| Taxes, remuneration and social security | 45 | €9,489 | €5,764 | -€3,725 | -39.3% |
| Taxes | 450/3 | €9,489 | €4,264 | -€5,225 | -55.1% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €42 | €3,135 | +€3,092 | +7,283% |
| Remuneration, social security and pensions | 62 | €4,747 | - | -€4,747 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,395 | €5,750 | +€2,355 | +69.4% |
| Other operating charges | 640/8 | €1,059 | €700 | -€360 | -34.0% |
| Gross operating margin | 9900 | €22,072 | €13,181 | -€8,891 | -40.3% |
| Operating profit (loss) | 9901 | €12,870 | €6,731 | -€6,139 | -47.7% |
| Financial income | 75/76B | €0 | €288 | +€287 | +87,039% |
| Recurring financial income | 75 | €0 | €288 | +€287 | +87,039% |
| Financial charges | 65/66B | €1,281 | €1,430 | +€149 | +11.6% |
| Recurring financial charges | 65 | €1,281 | €1,430 | +€149 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €11,590 | €5,589 | -€6,001 | -51.8% |
| Income taxes | 67/77 | €4,404 | €2,056 | -€2,348 | -53.3% |
| Profit (loss) for the period | 9904 | €7,186 | €3,533 | -€3,653 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,186 | €3,533 | -€3,653 | -50.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.