VGT 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.
VGT Consulting
Largest movements
- Receivables within one year +€88,071
up €88,071 (+68.7%), from €128,107 to €216,178
of which Trade receivables: +€73,797
- Tangible fixed assets -€8,260
down €8,260 (-50.4%), from €16,403 to €8,143
of which Leasing and similar rights: -€7,751
- Other debts +€105,828
up €105,828 (+281%), from €37,684 to €143,513
- Debts after one year -€10,772
down €10,772 (-78.8%), from €13,672 to €2,900
- Short-term financial debts -€8,134
down €8,134 (-89.9%), from €9,051 to €917
- Trade debts -€7,647
down €7,647 (-68.8%), from €11,115 to €3,468
- Reserves +€4,074
up €4,074 (+15.3%), from €26,659 to €30,733
- Gross operating margin -€22,817
down €22,817 (-49.7%), from €45,864 to €23,047
- Taxes -€4,548
down €4,548 (-52.9%), from €8,594 to €4,046
- Depreciation -€809
down €809 (-8.9%), from €9,069 to €8,260
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 | €146,575 | €226,302 | +€79,727 | +54.4% |
| Fixed assets | 21/28 | €16,680 | €8,420 | -€8,260 | -49.5% |
| Tangible fixed assets | 22/27 | €16,403 | €8,143 | -€8,260 | -50.4% |
| Furniture and vehicles | 24 | €625 | €116 | -€509 | -81.5% |
| Leasing and similar rights | 25 | €15,778 | €8,027 | -€7,751 | -49.1% |
| Financial fixed assets | 28 | €278 | €278 | = | 0.0% |
| Current assets | 29/58 | €129,895 | €217,882 | +€87,987 | +67.7% |
| Amounts receivable within one year | 40/41 | €128,107 | €216,178 | +€88,071 | +68.7% |
| Trade receivables | 40 | €103,981 | €177,778 | +€73,797 | +71.0% |
| Other amounts receivable | 41 | €24,125 | €38,399 | +€14,274 | +59.2% |
| Cash at bank and in hand | 54/58 | €22 | €22 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,766 | €1,682 | -€84 | -4.8% |
| Total equity and liabilities | 10/49 | €146,575 | €226,302 | +€79,727 | +54.4% |
| Equity | 10/15 | €45,259 | €49,333 | +€4,074 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,659 | €30,733 | +€4,074 | +15.3% |
| Distributable reserves | 133 | €26,659 | €30,733 | +€4,074 | +15.3% |
| Amounts payable | 17/49 | €101,316 | €176,969 | +€75,653 | +74.7% |
| Amounts payable after more than one year | 17 | €13,672 | €2,900 | -€10,772 | -78.8% |
| Financial debts | 170/4 | €13,672 | €2,900 | -€10,772 | -78.8% |
| Amounts payable within one year | 42/48 | €84,748 | €171,310 | +€86,562 | +102% |
| Current portion of amounts payable after more than one year | 42 | €10,531 | €10,772 | +€241 | +2.3% |
| Financial debts | 43 | €9,051 | €917 | -€8,134 | -89.9% |
| Credit institutions | 430/8 | €9,051 | €917 | -€8,134 | -89.9% |
| Trade debts | 44 | €11,115 | €3,468 | -€7,647 | -68.8% |
| Suppliers | 440/4 | €11,115 | €3,468 | -€7,647 | -68.8% |
| Taxes, remuneration and social security | 45 | €16,368 | €12,640 | -€3,728 | -22.8% |
| Taxes | 450/3 | €13,619 | €12,640 | -€979 | -7.2% |
| Remuneration and social security | 454/9 | €2,749 | - | -€2,749 | |
| Other amounts payable | 47/48 | €37,684 | €143,513 | +€105,828 | +281% |
| Accrued charges and deferred income | 492/3 | €2,896 | €2,759 | -€137 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,069 | €8,260 | -€809 | -8.9% |
| Other operating charges | 640/8 | €2,125 | €2,118 | -€7 | -0.3% |
| Gross operating margin | 9900 | €45,864 | €23,047 | -€22,817 | -49.7% |
| Operating profit (loss) | 9901 | €34,670 | €12,669 | -€22,001 | -63.5% |
| Financial income | 75/76B | €96 | - | -€96 | |
| Recurring financial income | 75 | €96 | - | -€96 | |
| Financial charges | 65/66B | €4,649 | €4,549 | -€100 | -2.1% |
| Recurring financial charges | 65 | €4,649 | €4,549 | -€100 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €30,117 | €8,120 | -€21,997 | -73.0% |
| Income taxes | 67/77 | €8,594 | €4,046 | -€4,548 | -52.9% |
| Profit (loss) for the period | 9904 | €21,523 | €4,074 | -€17,448 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,523 | €4,074 | -€17,448 | -81.1% |
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 1 November 2026 via checked.be.