vkd consult: 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.
vkd consult
Largest movements
- Current investments -€13,270
down €13,270 (-20.5%), from €64,668 to €51,398
- Receivables within one year +€12,259
up €12,259 (+8.1%), from €151,372 to €163,631
of which Other amounts receivable: +€61,869
- Cash +€7,688
up €7,688 (+79.7%), from €9,648 to €17,335
mainly Net result for the year (+€20,472) and Current investments (+€13,270)
- Reserves +€20,472
up €20,472 (+57.4%), from €35,678 to €56,150
- Tax, wage and social debts -€15,681
down €15,681 (-28.5%), from €55,039 to €39,359
- Gross operating margin -€18,970
down €18,970 (-35.9%), from €52,775 to €33,805
- Financial income +€2,726
up €2,726 (+52.5%), from €5,195 to €7,921
- Depreciation -€669
down €669 (-29.4%), from €2,278 to €1,609
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.
Cash bridge derived
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 | €358,404 | €361,524 | +€3,120 | +0.9% |
| Fixed assets | 21/28 | €128,484 | €126,876 | -€1,609 | -1.3% |
| Tangible fixed assets | 22/27 | €3,484 | €1,876 | -€1,609 | -46.2% |
| Furniture and vehicles | 24 | €3,484 | €1,876 | -€1,609 | -46.2% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €229,919 | €234,648 | +€4,728 | +2.1% |
| Amounts receivable within one year | 40/41 | €151,372 | €163,631 | +€12,259 | +8.1% |
| Trade receivables | 40 | €49,610 | - | -€49,610 | |
| Other amounts receivable | 41 | €101,762 | €163,631 | +€61,869 | +60.8% |
| Current investments | 50/53 | €64,668 | €51,398 | -€13,270 | -20.5% |
| Cash at bank and in hand | 54/58 | €9,648 | €17,335 | +€7,688 | +79.7% |
| Deferred charges and accrued income | 490/1 | €4,231 | €2,283 | -€1,948 | -46.0% |
| Total equity and liabilities | 10/49 | €358,404 | €361,524 | +€3,120 | +0.9% |
| Equity | 10/15 | €301,130 | €321,602 | +€20,472 | +6.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,678 | €56,150 | +€20,472 | +57.4% |
| Distributable reserves | 133 | €35,678 | €56,150 | +€20,472 | +57.4% |
| Profit (loss) carried forward | 14 | €259,252 | €259,252 | = | 0.0% |
| Amounts payable | 17/49 | €57,274 | €39,922 | -€17,352 | -30.3% |
| Amounts payable within one year | 42/48 | €57,274 | €39,922 | -€17,352 | -30.3% |
| Trade debts | 44 | €234 | €563 | +€329 | +140.2% |
| Suppliers | 440/4 | €234 | €563 | +€329 | +140.2% |
| Taxes, remuneration and social security | 45 | €55,039 | €39,359 | -€15,681 | -28.5% |
| Taxes | 450/3 | €55,039 | €39,359 | -€15,681 | -28.5% |
| Other amounts payable | 47/48 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,278 | €1,609 | -€669 | -29.4% |
| Other operating charges | 640/8 | €1,711 | €1,742 | +€31 | +1.8% |
| Gross operating margin | 9900 | €52,775 | €33,805 | -€18,970 | -35.9% |
| Operating profit (loss) | 9901 | €48,786 | €30,454 | -€18,332 | -37.6% |
| Financial income | 75/76B | €5,195 | €7,921 | +€2,726 | +52.5% |
| Recurring financial income | 75 | €5,195 | €7,921 | +€2,726 | +52.5% |
| Financial charges | 65/66B | €95 | €120 | +€26 | +27.2% |
| Recurring financial charges | 65 | €95 | €120 | +€26 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €53,887 | €38,254 | -€15,632 | -29.0% |
| Income taxes | 67/77 | €18,064 | €17,783 | -€281 | -1.6% |
| Profit (loss) for the period | 9904 | €35,823 | €20,472 | -€15,351 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,823 | €20,472 | -€15,351 | -42.9% |
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 9 October 2026 via checked.be.