VHM consultants: 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.
VHM consultants
Largest movements
- Tangible fixed assets -€9,067
down €9,067 (-6.3%), from €144,067 to €135,000
- Other debts -€20,627
down €20,627 (-75.3%), from €27,399 to €6,772
- Reserves +€12,604
up €12,604 (+11.2%), from €112,279 to €124,883
of which Distributable reserves: +€12,604
- Gross operating margin -€3,661
down €3,661 (-11.4%), from €31,999 to €28,338
- Other operating charges -€1,686
down €1,686 (-41.9%), from €4,022 to €2,336
- Taxes -€577
down €577 (-11.9%), from €4,865 to €4,288
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 | €163,305 | €156,518 | -€6,787 | -4.2% |
| Fixed assets | 21/28 | €144,434 | €135,367 | -€9,067 | -6.3% |
| Tangible fixed assets | 22/27 | €144,067 | €135,000 | -€9,067 | -6.3% |
| Land and buildings | 22 | €144,067 | €135,000 | -€9,067 | -6.3% |
| Financial fixed assets | 28 | €367 | €367 | = | 0.0% |
| Current assets | 29/58 | €18,871 | €21,151 | +€2,280 | +12.1% |
| Amounts receivable within one year | 40/41 | €3,871 | €5,095 | +€1,224 | +31.6% |
| Trade receivables | 40 | €2,845 | €3,272 | +€427 | +15.0% |
| Other amounts receivable | 41 | €1,026 | €1,823 | +€797 | +77.7% |
| Cash at bank and in hand | 54/58 | €15,000 | €16,056 | +€1,056 | +7.0% |
| Total equity and liabilities | 10/49 | €163,305 | €156,518 | -€6,787 | -4.2% |
| Equity | 10/15 | €130,879 | €143,483 | +€12,604 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,279 | €124,883 | +€12,604 | +11.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €110,419 | €123,023 | +€12,604 | +11.4% |
| Amounts payable | 17/49 | €32,426 | €13,035 | -€19,391 | -59.8% |
| Amounts payable within one year | 42/48 | €32,426 | €13,035 | -€19,391 | -59.8% |
| Trade debts | 44 | €976 | €1,952 | +€976 | +100% |
| Suppliers | 440/4 | €976 | €1,952 | +€976 | +100% |
| Taxes, remuneration and social security | 45 | €4,051 | €4,311 | +€260 | +6.4% |
| Taxes | 450/3 | €4,051 | €4,311 | +€260 | +6.4% |
| Other amounts payable | 47/48 | €27,399 | €6,772 | -€20,627 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,067 | €9,067 | = | 0.0% |
| Other operating charges | 640/8 | €4,022 | €2,336 | -€1,686 | -41.9% |
| Gross operating margin | 9900 | €31,999 | €28,338 | -€3,661 | -11.4% |
| Operating profit (loss) | 9901 | €18,910 | €16,935 | -€1,975 | -10.4% |
| Financial charges | 65/66B | €39 | €43 | +€4 | +10.3% |
| Recurring financial charges | 65 | €39 | €43 | +€4 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €18,871 | €16,892 | -€1,979 | -10.5% |
| Income taxes | 67/77 | €4,865 | €4,288 | -€577 | -11.9% |
| Profit (loss) for the period | 9904 | €14,006 | €12,604 | -€1,402 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,006 | €12,604 | -€1,402 | -10.0% |
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 25 October 2026 via checked.be.