VMG 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.
VMG CONSULT
Largest movements
- Tangible fixed assets +€37,247
up €37,247 (+3,012%), from €1,237 to €38,484
of which Furniture and vehicles: +€36,422
- Cash -€36,645
down €36,645 (-49.3%), from €74,354 to €37,709
mainly Investment in fixed assets (net) (-€42,543) and Accrued charges and deferred income (-€28,894)
- Receivables within one year +€12,605
up €12,605 (+11.4%), from €110,241 to €122,846
of which Other amounts receivable: +€17,197
- Accrued charges and deferred income -€28,894
down €28,894 (-47.8%), from €60,408 to €31,514
- Debts after one year +€18,414
new in 2025: €18,414
- Advances received +€16,755
new in 2025: €16,755
- Current portion of long-term debt +€11,814
new in 2025: €11,814
- Trade debts +€8,436
up €8,436 (+37.7%), from €22,390 to €30,826
- Taxes -€14,623
down €14,623, from €14,274 to -€350
- Staff costs +€10,950
up €10,950 (+4,200%), from €261 to €11,210
- Depreciation +€4,847
up €4,847 (+1,081%), from €448 to €5,295
- Gross operating margin -€4,102
down €4,102 (-29.6%), from €13,863 to €9,761
- Financial income +€2,276
up €2,276 (+214,701%), from €1 to €2,277
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 | €188,015 | €201,224 | +€13,209 | +7.0% |
| Fixed assets | 21/28 | €1,237 | €38,484 | +€37,247 | +3,012% |
| Tangible fixed assets | 22/27 | €1,237 | €38,484 | +€37,247 | +3,012% |
| Plant, machinery and equipment | 23 | - | €825 | +€825 | |
| Furniture and vehicles | 24 | €1,237 | €37,659 | +€36,422 | +2,945% |
| Current assets | 29/58 | €186,779 | €162,740 | -€24,038 | -12.9% |
| Amounts receivable within one year | 40/41 | €110,241 | €122,846 | +€12,605 | +11.4% |
| Trade receivables | 40 | €41,689 | €37,098 | -€4,591 | -11.0% |
| Other amounts receivable | 41 | €68,552 | €85,748 | +€17,197 | +25.1% |
| Cash at bank and in hand | 54/58 | €74,354 | €37,709 | -€36,645 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,184 | €2,185 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €188,015 | €201,224 | +€13,209 | +7.0% |
| Equity | 10/15 | €48,880 | €40,759 | -€8,121 | -16.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,820 | €32,699 | -€8,121 | -19.9% |
| Amounts payable | 17/49 | €139,135 | €160,466 | +€21,330 | +15.3% |
| Amounts payable after more than one year | 17 | - | €18,414 | +€18,414 | |
| Financial debts | 170/4 | - | €18,414 | +€18,414 | |
| Amounts payable within one year | 42/48 | €78,727 | €110,537 | +€31,811 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,814 | +€11,814 | |
| Financial debts | 43 | €763 | €0 | -€763 | -100% |
| Credit institutions | 430/8 | €763 | €0 | -€763 | -100% |
| Trade debts | 44 | €22,390 | €30,826 | +€8,436 | +37.7% |
| Suppliers | 440/4 | €22,390 | €30,826 | +€8,436 | +37.7% |
| Advances received on contracts in progress | 46 | - | €16,755 | +€16,755 | |
| Taxes, remuneration and social security | 45 | €27,847 | €20,063 | -€7,784 | -28.0% |
| Taxes | 450/3 | €27,847 | €19,055 | -€8,792 | -31.6% |
| Remuneration and social security | 454/9 | - | €1,008 | +€1,008 | |
| Other amounts payable | 47/48 | €27,727 | €31,080 | +€3,353 | +12.1% |
| Accrued charges and deferred income | 492/3 | €60,408 | €31,514 | -€28,894 | -47.8% |
| Non-recurring operating income | 76A | €3,157 | €0 | -€3,157 | -100% |
| Remuneration, social security and pensions | 62 | €261 | €11,210 | +€10,950 | +4,200% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €448 | €5,295 | +€4,847 | +1,081% |
| Other operating charges | 640/8 | €1,049 | €2,924 | +€1,874 | +179% |
| Gross operating margin | 9900 | €13,863 | €9,761 | -€4,102 | -29.6% |
| Operating profit (loss) | 9901 | €12,105 | -€9,668 | -€21,772 | |
| Financial income | 75/76B | €1 | €2,277 | +€2,276 | +214,701% |
| Recurring financial income | 75 | €1 | €2,277 | +€2,276 | +214,701% |
| Financial charges | 65/66B | €947 | €1,080 | +€133 | +14.1% |
| Recurring financial charges | 65 | €947 | €1,080 | +€133 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €11,159 | -€8,471 | -€19,630 | |
| Income taxes | 67/77 | €14,274 | -€350 | -€14,623 | |
| Profit (loss) for the period | 9904 | -€3,115 | -€8,121 | -€5,007 | -161% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,115 | -€8,121 | -€5,007 | -161% |
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 23 October 2026 via checked.be.