VM-consulting: 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-consulting
Largest movements
- Tangible fixed assets +€133,557
up €133,557 (+9227.3%), from €1,447 to €135,004
of which Land and buildings: +€133,705
- Cash -€60,427
down €60,427 (-78.0%), from €77,472 to €17,045
mainly Investment in fixed assets (net) (-€138,691)
- Receivables within one year -€22,374
down €22,374 (-22.1%), from €101,218 to €78,843
of which Other amounts receivable: -€14,189
- Deferred charges and accrued income -€4,911
down €4,911 (-51.3%), from €9,569 to €4,657
- Reserves +€29,962
up €29,962 (+18.6%), from €161,190 to €191,152
- Trade debts +€10,511
up €10,511 (+92.3%), from €11,394 to €21,904
- Tax, wage and social debts +€5,349
up €5,349 (+38.5%), from €13,900 to €19,249
- Gross operating margin +€15,854
up €15,854 (+49.3%), from €32,182 to €48,036
- Depreciation +€5,102
up €5,102 (+15711.9%), from €32 to €5,134
- Taxes +€3,279
up €3,279 (+24.1%), from €13,610 to €16,889
- Other operating charges -€1,545
no longer reported in 2025 (was €1,545)
- Financial charges +€820
up €820 (+325.2%), from €252 to €1,072
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 | €189,706 | €235,549 | +€45,844 | +24.2% |
| Fixed assets | 21/28 | €1,447 | €135,004 | +€133,557 | +9227.3% |
| Tangible fixed assets | 22/27 | €1,447 | €135,004 | +€133,557 | +9227.3% |
| Land and buildings | 22 | - | €133,705 | +€133,705 | |
| Other tangible fixed assets | 26 | €1,447 | €1,299 | -€148 | -10.2% |
| Current assets | 29/58 | €188,258 | €100,545 | -€87,713 | -46.6% |
| Amounts receivable within one year | 40/41 | €101,218 | €78,843 | -€22,374 | -22.1% |
| Trade receivables | 40 | €10,427 | €2,242 | -€8,185 | -78.5% |
| Other amounts receivable | 41 | €90,791 | €76,601 | -€14,189 | -15.6% |
| Cash at bank and in hand | 54/58 | €77,472 | €17,045 | -€60,427 | -78.0% |
| Deferred charges and accrued income | 490/1 | €9,569 | €4,657 | -€4,911 | -51.3% |
| Total equity and liabilities | 10/49 | €189,706 | €235,549 | +€45,844 | +24.2% |
| Equity | 10/15 | €163,690 | €193,652 | +€29,962 | +18.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €161,190 | €191,152 | +€29,962 | +18.6% |
| Distributable reserves | 133 | €161,190 | €191,152 | +€29,962 | +18.6% |
| Amounts payable | 17/49 | €26,016 | €41,898 | +€15,881 | +61.0% |
| Amounts payable within one year | 42/48 | €25,993 | €41,876 | +€15,883 | +61.1% |
| Trade debts | 44 | €11,394 | €21,904 | +€10,511 | +92.3% |
| Suppliers | 440/4 | €11,394 | €21,904 | +€10,511 | +92.3% |
| Taxes, remuneration and social security | 45 | €13,900 | €19,249 | +€5,349 | +38.5% |
| Taxes | 450/3 | €13,900 | €19,249 | +€5,349 | +38.5% |
| Other amounts payable | 47/48 | €700 | €723 | +€23 | +3.3% |
| Accrued charges and deferred income | 492/3 | €23 | €21 | -€2 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32 | €5,134 | +€5,102 | +15711.9% |
| Other operating charges | 640/8 | €1,545 | - | -€1,545 | |
| Non-recurring operating charges | 66A | €1,168 | - | -€1,168 | |
| Gross operating margin | 9900 | €32,182 | €48,036 | +€15,854 | +49.3% |
| Operating profit (loss) | 9901 | €29,438 | €42,902 | +€13,464 | +45.7% |
| Financial income | 75/76B | €4,762 | €5,021 | +€259 | +5.4% |
| Recurring financial income | 75 | €4,762 | €5,021 | +€259 | +5.4% |
| Financial charges | 65/66B | €252 | €1,072 | +€820 | +325.2% |
| Recurring financial charges | 65 | €252 | €1,072 | +€820 | +325.2% |
| Profit (loss) for the period before taxes | 9903 | €33,947 | €46,851 | +€12,904 | +38.0% |
| Income taxes | 67/77 | €13,610 | €16,889 | +€3,279 | +24.1% |
| Profit (loss) for the period | 9904 | €20,337 | €29,962 | +€9,625 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,337 | €29,962 | +€9,625 | +47.3% |
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 8 October 2026 via checked.be.