VM Consultancy: what changed
Two fiscal 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.
VM Consultancy
Largest movements
- Receivables within one year +€40,493
up €40,493 (+125.2%), from €32,343 to €72,836
of which Other amounts receivable: +€21,857
- Cash -€20,106
down €20,106 (-21.4%), from €93,946 to €73,840
mainly Receivables within one year (-€40,493) and Investment in fixed assets (net) (-€12,789)
- Deferred charges and accrued income +€9,436
up €9,436 (+147.7%), from €6,386 to €15,822
- Tangible fixed assets +€6,440
up €6,440 (+56.8%), from €11,341 to €17,782
of which Plant, machinery and equipment: +€6,931
- Profit (loss) carried forward +€48,434
up €48,434, from €0 to €48,434
- Tax, wage and social debts +€11,772
up €11,772 (+64.1%), from €18,376 to €30,148
- Current portion of long-term debt -€11,207
down €11,207 (-32.4%), from €34,608 to €23,401
- Debts after one year -€9,273
down €9,273 (-100.0%), from €9,273 to €0
- Gross operating margin -€283,899
down €283,899 (-78.6%), from €361,230 to €77,331
- Financial income -€4,050
down €4,050 (-88.7%), from €4,564 to €514
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 | €568,560 | €604,824 | +€36,263 | +6.4% |
| Fixed assets | 21/28 | €435,885 | €442,325 | +€6,440 | +1.5% |
| Tangible fixed assets | 22/27 | €11,341 | €17,782 | +€6,440 | +56.8% |
| Land and buildings | 22 | €3,500 | €2,900 | -€600 | -17.1% |
| Plant, machinery and equipment | 23 | €1,934 | €8,864 | +€6,931 | +358.4% |
| Furniture and vehicles | 24 | €5,908 | €6,017 | +€109 | +1.9% |
| Financial fixed assets | 28 | €424,544 | €424,544 | = | 0.0% |
| Current assets | 29/58 | €132,675 | €162,498 | +€29,823 | +22.5% |
| Amounts receivable within one year | 40/41 | €32,343 | €72,836 | +€40,493 | +125.2% |
| Trade receivables | 40 | €30,771 | €49,407 | +€18,637 | +60.6% |
| Other amounts receivable | 41 | €1,572 | €23,429 | +€21,857 | +1390.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €93,946 | €73,840 | -€20,106 | -21.4% |
| Deferred charges and accrued income | 490/1 | €6,386 | €15,822 | +€9,436 | +147.7% |
| Total equity and liabilities | 10/49 | €568,560 | €604,824 | +€36,263 | +6.4% |
| Equity | 10/15 | €502,495 | €550,929 | +€48,434 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €483,895 | €483,895 | = | 0.0% |
| Distributable reserves | 133 | €483,895 | €483,895 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €48,434 | +€48,434 | |
| Amounts payable | 17/49 | €66,066 | €53,895 | -€12,171 | -18.4% |
| Amounts payable after more than one year | 17 | €9,273 | €0 | -€9,273 | -100.0% |
| Financial debts | 170/4 | €9,273 | €0 | -€9,273 | -100.0% |
| Amounts payable within one year | 42/48 | €56,793 | €53,895 | -€2,898 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €34,608 | €23,401 | -€11,207 | -32.4% |
| Trade debts | 44 | €615 | €83 | -€532 | -86.5% |
| Suppliers | 440/4 | €615 | €83 | -€532 | -86.5% |
| Taxes, remuneration and social security | 45 | €18,376 | €30,148 | +€11,772 | +64.1% |
| Taxes | 450/3 | €18,376 | €30,148 | +€11,772 | +64.1% |
| Other amounts payable | 47/48 | €3,194 | €263 | -€2,932 | -91.8% |
| Non-recurring operating income | 76A | - | €7,242 | +€7,242 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,317 | €6,349 | +€2,032 | +47.1% |
| Other operating charges | 640/8 | €623 | €966 | +€342 | +54.9% |
| Gross operating margin | 9900 | €361,230 | €77,331 | -€283,899 | -78.6% |
| Operating profit (loss) | 9901 | €356,290 | €70,017 | -€286,273 | -80.3% |
| Financial income | 75/76B | €4,564 | €514 | -€4,050 | -88.7% |
| Recurring financial income | 75 | €4,564 | €514 | -€4,050 | -88.7% |
| Financial charges | 65/66B | €1,905 | €2,131 | +€226 | +11.9% |
| Recurring financial charges | 65 | €1,905 | €2,131 | +€226 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €358,949 | €68,400 | -€290,549 | -80.9% |
| Income taxes | 67/77 | €23,460 | €19,966 | -€3,494 | -14.9% |
| Profit (loss) for the period | 9904 | €335,489 | €48,434 | -€287,055 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €335,489 | €48,434 | -€287,055 | -85.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.