VSB CONSULT: 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.
VSB CONSULT
Largest movements
- Cash +€47,525
up €47,525 (+42.9%), from €110,803 to €158,328
mainly Net result for the year (+€50,235) and Depreciation (+€29,659)
- Tangible fixed assets -€29,659
down €29,659 (-15.2%), from €195,019 to €165,360
of which Furniture and vehicles: -€15,194
- Current investments +€16,124
up €16,124 (+27.2%), from €59,189 to €75,313
- Receivables within one year +€15,299
up €15,299 (+106.9%), from €14,309 to €29,608
of which Other amounts receivable: +€14,834
- Reserves +€50,235
up €50,235 (+15.1%), from €332,001 to €382,236
- Other debts -€8,594
down €8,594 (-100.0%), from €8,594 to €0
- Tax, wage and social debts +€6,443
up €6,443 (+31.5%), from €20,423 to €26,866
- Gross operating margin +€6,820
up €6,820 (+7.4%), from €92,240 to €99,060
- Financial income +€6,753
up €6,753 (+10629.8%), from €64 to €6,817
- Taxes +€3,583
up €3,583 (+19.3%), from €18,569 to €22,151
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 | €380,106 | €429,411 | +€49,305 | +13.0% |
| Fixed assets | 21/28 | €195,019 | €165,360 | -€29,659 | -15.2% |
| Tangible fixed assets | 22/27 | €195,019 | €165,360 | -€29,659 | -15.2% |
| Land and buildings | 22 | €169,710 | €155,245 | -€14,466 | -8.5% |
| Furniture and vehicles | 24 | €25,309 | €10,115 | -€15,194 | -60.0% |
| Current assets | 29/58 | €185,087 | €264,051 | +€78,964 | +42.7% |
| Amounts receivable within one year | 40/41 | €14,309 | €29,608 | +€15,299 | +106.9% |
| Trade receivables | 40 | €14,309 | €14,774 | +€465 | +3.2% |
| Other amounts receivable | 41 | €0 | €14,834 | +€14,834 | |
| Current investments | 50/53 | €59,189 | €75,313 | +€16,124 | +27.2% |
| Cash at bank and in hand | 54/58 | €110,803 | €158,328 | +€47,525 | +42.9% |
| Deferred charges and accrued income | 490/1 | €786 | €801 | +€16 | +2.0% |
| Total equity and liabilities | 10/49 | €380,106 | €429,411 | +€49,305 | +13.0% |
| Equity | 10/15 | €350,551 | €400,786 | +€50,235 | +14.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €332,001 | €382,236 | +€50,235 | +15.1% |
| Distributable reserves | 133 | €332,001 | €382,236 | +€50,235 | +15.1% |
| Amounts payable | 17/49 | €29,555 | €28,625 | -€930 | -3.1% |
| Amounts payable within one year | 42/48 | €29,555 | €28,625 | -€930 | -3.1% |
| Trade debts | 44 | €538 | €1,759 | +€1,221 | +227.0% |
| Suppliers | 440/4 | €538 | €1,759 | +€1,221 | +227.0% |
| Taxes, remuneration and social security | 45 | €20,423 | €26,866 | +€6,443 | +31.5% |
| Taxes | 450/3 | €20,423 | €26,866 | +€6,443 | +31.5% |
| Other amounts payable | 47/48 | €8,594 | €0 | -€8,594 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,815 | €29,659 | +€844 | +2.9% |
| Other operating charges | 640/8 | €2,863 | €2,967 | +€104 | +3.6% |
| Gross operating margin | 9900 | €92,240 | €99,060 | +€6,820 | +7.4% |
| Operating profit (loss) | 9901 | €60,562 | €66,433 | +€5,872 | +9.7% |
| Financial income | 75/76B | €64 | €6,817 | +€6,753 | +10629.8% |
| Recurring financial income | 75 | €64 | €6,817 | +€6,753 | +10629.8% |
| Financial charges | 65/66B | €132 | €864 | +€731 | +553.2% |
| Recurring financial charges | 65 | €132 | €864 | +€731 | +553.2% |
| Profit (loss) for the period before taxes | 9903 | €60,493 | €72,386 | +€11,893 | +19.7% |
| Income taxes | 67/77 | €18,569 | €22,151 | +€3,583 | +19.3% |
| Profit (loss) for the period | 9904 | €41,924 | €50,235 | +€8,311 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,924 | €50,235 | +€8,311 | +19.8% |
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.