VH Consulting & Training: 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.
VH Consulting & Training
Largest movements
- Receivables within one year -€31,822
down €31,822 (-55.7%), from €57,117 to €25,295
of which Trade receivables: -€25,199
- Cash +€20,795
up €20,795 (+56.5%), from €36,811 to €57,605
mainly Receivables within one year (+€31,822) and Net result for the year (+€19,850)
- Tangible fixed assets -€9,465
down €9,465 (-6.0%), from €156,630 to €147,164
of which Other tangible fixed assets: -€7,817
- Deferred charges and accrued income -€6,587
down €6,587 (-73.2%), from €9,002 to €2,414
- Debts after one year -€19,495
down €19,495 (-17.3%), from €112,887 to €93,392
- Reserves +€9,415
up €9,415 (+14.1%), from €66,716 to €76,132
- Other debts -€8,045
down €8,045 (-27.3%), from €29,433 to €21,387
- Short-term financial debts -€5,014
down €5,014 (-100%), from €5,014 to €0
- Advances received -€3,595
down €3,595 (-58.8%), from €6,109 to €2,515
- Gross operating margin +€11,416
up €11,416 (+26.0%), from €43,875 to €55,291
- Taxes +€3,690
up €3,690 (+75.0%), from €4,918 to €8,608
- Financial charges -€1,045
down €1,045 (-10.6%), from €9,859 to €8,814
- Financial income -€688
down €688 (-77.9%), from €884 to €196
- Depreciation -€669
down €669 (-3.7%), from €17,900 to €17,231
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 | €259,559 | €232,479 | -€27,080 | -10.4% |
| Fixed assets | 21/28 | €156,630 | €147,164 | -€9,465 | -6.0% |
| Tangible fixed assets | 22/27 | €156,630 | €147,164 | -€9,465 | -6.0% |
| Land and buildings | 22 | €114,764 | €112,595 | -€2,169 | -1.9% |
| Plant, machinery and equipment | 23 | €4,426 | €5,988 | +€1,562 | +35.3% |
| Furniture and vehicles | 24 | €10,512 | €9,471 | -€1,041 | -9.9% |
| Other tangible fixed assets | 26 | €26,927 | €19,110 | -€7,817 | -29.0% |
| Current assets | 29/58 | €102,929 | €85,315 | -€17,615 | -17.1% |
| Amounts receivable within one year | 40/41 | €57,117 | €25,295 | -€31,822 | -55.7% |
| Trade receivables | 40 | €46,931 | €21,732 | -€25,199 | -53.7% |
| Other amounts receivable | 41 | €10,186 | €3,563 | -€6,623 | -65.0% |
| Cash at bank and in hand | 54/58 | €36,811 | €57,605 | +€20,795 | +56.5% |
| Deferred charges and accrued income | 490/1 | €9,002 | €2,414 | -€6,587 | -73.2% |
| Total equity and liabilities | 10/49 | €259,559 | €232,479 | -€27,080 | -10.4% |
| Equity | 10/15 | €72,916 | €82,332 | +€9,415 | +12.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,716 | €76,132 | +€9,415 | +14.1% |
| Distributable reserves | 133 | €66,716 | €76,132 | +€9,415 | +14.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €186,643 | €150,147 | -€36,495 | -19.6% |
| Amounts payable after more than one year | 17 | €112,887 | €93,392 | -€19,495 | -17.3% |
| Financial debts | 170/4 | €112,887 | €93,392 | -€19,495 | -17.3% |
| Amounts payable within one year | 42/48 | €73,037 | €56,044 | -€16,994 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €18,935 | €19,495 | +€560 | +3.0% |
| Financial debts | 43 | €5,014 | €0 | -€5,014 | -100% |
| Credit institutions | 430/8 | €5,014 | €0 | -€5,014 | -100% |
| Trade debts | 44 | €11,296 | €8,080 | -€3,216 | -28.5% |
| Suppliers | 440/4 | €11,296 | €8,080 | -€3,216 | -28.5% |
| Advances received on contracts in progress | 46 | €6,109 | €2,515 | -€3,595 | -58.8% |
| Taxes, remuneration and social security | 45 | €2,250 | €4,567 | +€2,317 | +103% |
| Taxes | 450/3 | €2,250 | €4,567 | +€2,317 | +103% |
| Other amounts payable | 47/48 | €29,433 | €21,387 | -€8,045 | -27.3% |
| Accrued charges and deferred income | 492/3 | €718 | €711 | -€7 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,900 | €17,231 | -€669 | -3.7% |
| Other operating charges | 640/8 | €1,043 | €984 | -€59 | -5.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €43,875 | €55,291 | +€11,416 | +26.0% |
| Operating profit (loss) | 9901 | €24,932 | €37,076 | +€12,144 | +48.7% |
| Financial income | 75/76B | €884 | €196 | -€688 | -77.9% |
| Recurring financial income | 75 | €884 | €196 | -€688 | -77.9% |
| Financial charges | 65/66B | €9,859 | €8,814 | -€1,045 | -10.6% |
| Recurring financial charges | 65 | €9,859 | €8,814 | -€1,045 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €15,957 | €28,458 | +€12,501 | +78.3% |
| Income taxes | 67/77 | €4,918 | €8,608 | +€3,690 | +75.0% |
| Profit (loss) for the period | 9904 | €11,039 | €19,850 | +€8,811 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,039 | €19,850 | +€8,811 | +79.8% |
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 28 October 2026 via checked.be.