VHP CYCLE SERVICE: what changed
What changed
VHP CYCLE SERVICE
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€71,395
2024 · €19,533+€51,861
Equity
€74,395
2024 · €55,652+€18,743
Cash
€13,252
2024 · €13,175+€77
Balance sheet total
€404,940
2024 · €240,569+€164,371
Largest movements
Assets
- Financial fixed assets +€116,000
up €116,000 (+66.7%), from €174,000 to €290,000
- Receivables within one year +€50,398
up €50,398 (+200%), from €25,190 to €75,588
of which Trade receivables: +€50,063
Equity and liabilities
- Other debts +€67,447
up €67,447 (+154%), from €43,812 to €111,259
- Debts after one year +€64,399
up €64,399 (+58.7%), from €109,749 to €174,148
- Reserves +€18,743
up €18,743 (+35.6%), from €52,652 to €71,395
- Tax, wage and social debts +€12,652
up €12,652 (+209%), from €6,053 to €18,705
of which Taxes: +€13,660
Income statement
- Gross operating margin +€67,161
up €67,161 (+185%), from €36,291 to €103,452
- Taxes +€17,462
up €17,462 (+261%), from €6,702 to €24,165
- Financial charges -€3,573
down €3,573 (-64.5%), from €5,538 to €1,966
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€19,533
Gross operating margin
+€67,161
Depreciation
-€867
Other operating charges
-€467
Financial income
-€75
Financial charges
+€3,573
Taxes
-€17,462
Result 2025
€71,395
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€106,537
Investment
-€118,697
Financing
+€12,237
Cash 2024
€13,175
From operations (derived)
+€106,537
Net result for the year
+€71,395
Depreciation
+€5,341
Receivables within one year
-€50,398
Deferred charges and accrued income
-€540
Trade debts
+€641
Tax, wage and social debts
+€12,652
Other debts
+€67,447
Investment (derived)
-€118,697
Investment in fixed assets (net)
-€118,697
Financing
+€12,237
Debts after one year
+€64,399
Current portion of long-term debt
+€499
Short-term financial debts
-€9
Contributions, distributions and other
-€52,652
Cash 2025
€13,252
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,569 | €404,940 | +€164,371 | +68.3% |
| Fixed assets | 21/28 | €196,984 | €310,340 | +€113,356 | +57.5% |
| Tangible fixed assets | 22/27 | €22,984 | €20,340 | -€2,644 | -11.5% |
| Land and buildings | 22 | €1,664 | €1,482 | -€182 | -10.9% |
| Furniture and vehicles | 24 | €21,320 | €18,858 | -€2,462 | -11.5% |
| Financial fixed assets | 28 | €174,000 | €290,000 | +€116,000 | +66.7% |
| Current assets | 29/58 | €43,585 | €94,600 | +€51,015 | +117% |
| Amounts receivable within one year | 40/41 | €25,190 | €75,588 | +€50,398 | +200% |
| Trade receivables | 40 | €25,190 | €75,253 | +€50,063 | +199% |
| Other amounts receivable | 41 | €0 | €335 | +€335 | |
| Cash at bank and in hand | 54/58 | €13,175 | €13,252 | +€77 | +0.6% |
| Deferred charges and accrued income | 490/1 | €5,219 | €5,759 | +€540 | +10.3% |
| Total equity and liabilities | 10/49 | €240,569 | €404,940 | +€164,371 | +68.3% |
| Equity | 10/15 | €55,652 | €74,395 | +€18,743 | +33.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,652 | €71,395 | +€18,743 | +35.6% |
| Distributable reserves | 133 | €52,652 | €71,395 | +€18,743 | +35.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €184,917 | €330,545 | +€145,628 | +78.8% |
| Amounts payable after more than one year | 17 | €109,749 | €174,148 | +€64,399 | +58.7% |
| Financial debts | 170/4 | €109,749 | €174,148 | +€64,399 | +58.7% |
| Amounts payable within one year | 42/48 | €75,168 | €156,397 | +€81,229 | +108% |
| Current portion of amounts payable after more than one year | 42 | €23,294 | €23,793 | +€499 | +2.1% |
| Financial debts | 43 | €1,907 | €1,898 | -€9 | -0.5% |
| Credit institutions | 430/8 | €1,907 | €1,898 | -€9 | -0.5% |
| Trade debts | 44 | €102 | €742 | +€641 | +628% |
| Suppliers | 440/4 | €102 | €742 | +€641 | +628% |
| Taxes, remuneration and social security | 45 | €6,053 | €18,705 | +€12,652 | +209% |
| Taxes | 450/3 | €5,044 | €18,705 | +€13,660 | +271% |
| Remuneration and social security | 454/9 | €1,008 | €0 | -€1,008 | -100% |
| Other amounts payable | 47/48 | €43,812 | €111,259 | +€67,447 | +154% |
| Non-recurring operating income | 76A | €114 | €191 | +€77 | +68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,474 | €5,341 | +€867 | +19.4% |
| Other operating charges | 640/8 | €118 | €585 | +€467 | +396% |
| Gross operating margin | 9900 | €36,291 | €103,452 | +€67,161 | +185% |
| Operating profit (loss) | 9901 | €31,699 | €97,525 | +€65,826 | +208% |
| Financial income | 75/76B | €75 | €0 | -€75 | -100% |
| Recurring financial income | 75 | €75 | €0 | -€75 | -100% |
| Financial charges | 65/66B | €5,538 | €1,966 | -€3,573 | -64.5% |
| Recurring financial charges | 65 | €5,538 | €1,966 | -€3,573 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €26,236 | €95,559 | +€69,324 | +264% |
| Income taxes | 67/77 | €6,702 | €24,165 | +€17,462 | +261% |
| Profit (loss) for the period | 9904 | €19,533 | €71,395 | +€51,861 | +266% |
| Profit (loss) for the period to be appropriated | 9905 | €19,533 | €71,395 | +€51,861 | +266% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.