VHG Managing: 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.
VHG Managing
Largest movements
- Cash +€30,816
up €30,816 (+9.3%), from €331,137 to €361,953
mainly Receivables after one year (+€25,000) and Net result for the year (+€8,135)
- Receivables after one year -€25,000
down €25,000 (-25.0%), from €100,000 to €75,000
- Reserves +€8,135
up €8,135 (+1.3%), from €645,901 to €654,036
of which Distributable reserves: +€8,135
- Financial income +€1,496
up €1,496 (+211%), from €710 to €2,206
- Gross operating margin -€630
down €630 (-5.5%), from €11,435 to €10,805
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 | €731,137 | €738,633 | +€7,496 | +1.0% |
| Fixed assets | 21/28 | €300,000 | €300,000 | = | 0.0% |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €431,137 | €438,633 | +€7,496 | +1.7% |
| Amounts receivable after more than one year | 29 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Other amounts receivable | 291 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Amounts receivable within one year | 40/41 | - | €1,680 | +€1,680 | |
| Other amounts receivable | 41 | - | €1,680 | +€1,680 | |
| Cash at bank and in hand | 54/58 | €331,137 | €361,953 | +€30,816 | +9.3% |
| Total equity and liabilities | 10/49 | €731,137 | €738,633 | +€7,496 | +1.0% |
| Equity | 10/15 | €707,901 | €716,036 | +€8,135 | +1.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €645,901 | €654,036 | +€8,135 | +1.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €639,701 | €647,836 | +€8,135 | +1.3% |
| Amounts payable | 17/49 | €23,236 | €22,597 | -€639 | -2.8% |
| Amounts payable within one year | 42/48 | €23,236 | €22,597 | -€639 | -2.8% |
| Trade debts | 44 | €780 | €976 | +€196 | +25.1% |
| Suppliers | 440/4 | €780 | €976 | +€196 | +25.1% |
| Taxes, remuneration and social security | 45 | €6,379 | €2,606 | -€3,773 | -59.1% |
| Taxes | 450/3 | €6,379 | €2,606 | -€3,773 | -59.1% |
| Other amounts payable | 47/48 | €16,077 | €19,015 | +€2,938 | +18.3% |
| Other operating charges | 640/8 | €574 | €571 | -€3 | -0.5% |
| Gross operating margin | 9900 | €11,435 | €10,805 | -€630 | -5.5% |
| Operating profit (loss) | 9901 | €10,861 | €10,234 | -€627 | -5.8% |
| Financial income | 75/76B | €710 | €2,206 | +€1,496 | +211% |
| Recurring financial income | 75 | €710 | €2,206 | +€1,496 | +211% |
| Financial charges | 65/66B | €276 | €323 | +€47 | +17.0% |
| Recurring financial charges | 65 | €276 | €323 | +€47 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €11,295 | €12,117 | +€822 | +7.3% |
| Income taxes | 67/77 | €3,996 | €3,982 | -€14 | -0.4% |
| Profit (loss) for the period | 9904 | €7,299 | €8,135 | +€836 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,299 | €8,135 | +€836 | +11.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.