VPH Consult & Invest: 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.
VPH Consult & Invest
Largest movements
- Tangible fixed assets +€80,655
up €80,655 (+426%), from €18,912 to €99,567
- Cash -€57,854
down €57,854 (-50.9%), from €113,723 to €55,869
mainly Contributions, distributions and other (-€165,000) and Investment in fixed assets (net) (-€95,000)
- Other debts +€132,284
up €132,284 (+7,500%), from €1,764 to €134,048
- Reserves -€96,000
no longer reported in 2025 (was €96,000)
- Current portion of long-term debt -€10,720
no longer reported in 2025 (was €10,720)
- Trade debts -€6,017
down €6,017 (-92.0%), from €6,539 to €521
- Tax, wage and social debts +€3,057
up €3,057 (+16.0%), from €19,122 to €22,178
- Gross operating margin +€5,561
up €5,561 (+5.6%), from €100,189 to €105,749
- Depreciation +€3,175
up €3,175 (+28.4%), from €11,170 to €14,345
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 | €152,783 | €176,338 | +€23,555 | +15.4% |
| Fixed assets | 21/28 | €18,912 | €99,567 | +€80,655 | +426% |
| Tangible fixed assets | 22/27 | €18,912 | €99,567 | +€80,655 | +426% |
| Furniture and vehicles | 24 | €18,912 | €99,567 | +€80,655 | +426% |
| Current assets | 29/58 | €133,871 | €76,771 | -€57,100 | -42.7% |
| Amounts receivable within one year | 40/41 | €20,148 | €20,902 | +€754 | +3.7% |
| Trade receivables | 40 | €20,148 | €20,902 | +€754 | +3.7% |
| Cash at bank and in hand | 54/58 | €113,723 | €55,869 | -€57,854 | -50.9% |
| Total equity and liabilities | 10/49 | €152,783 | €176,338 | +€23,555 | +15.4% |
| Equity | 10/15 | €114,639 | €19,590 | -€95,049 | -82.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,000 | - | -€96,000 | |
| Distributable reserves | 133 | €96,000 | - | -€96,000 | |
| Profit (loss) carried forward | 14 | €39 | €990 | +€951 | +2,455% |
| Amounts payable | 17/49 | €38,144 | €156,747 | +€118,603 | +311% |
| Amounts payable within one year | 42/48 | €38,144 | €156,747 | +€118,603 | +311% |
| Current portion of amounts payable after more than one year | 42 | €10,720 | - | -€10,720 | |
| Trade debts | 44 | €6,539 | €521 | -€6,017 | -92.0% |
| Suppliers | 440/4 | €6,539 | €521 | -€6,017 | -92.0% |
| Taxes, remuneration and social security | 45 | €19,122 | €22,178 | +€3,057 | +16.0% |
| Taxes | 450/3 | €19,122 | €22,178 | +€3,057 | +16.0% |
| Other amounts payable | 47/48 | €1,764 | €134,048 | +€132,284 | +7,500% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,170 | €14,345 | +€3,175 | +28.4% |
| Other operating charges | 640/8 | €1,400 | €1,422 | +€22 | +1.6% |
| Gross operating margin | 9900 | €100,189 | €105,749 | +€5,561 | +5.6% |
| Operating profit (loss) | 9901 | €87,619 | €89,982 | +€2,364 | +2.7% |
| Financial income | 75/76B | €169 | €519 | +€350 | +207% |
| Recurring financial income | 75 | €169 | €519 | +€350 | +207% |
| Financial charges | 65/66B | €312 | €111 | -€201 | -64.3% |
| Recurring financial charges | 65 | €312 | €111 | -€201 | -64.3% |
| Profit (loss) for the period before taxes | 9903 | €87,476 | €90,390 | +€2,914 | +3.3% |
| Income taxes | 67/77 | €19,601 | €20,438 | +€837 | +4.3% |
| Profit (loss) for the period | 9904 | €67,875 | €69,951 | +€2,077 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,875 | €69,951 | +€2,077 | +3.1% |
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 28 October 2026 via checked.be.