VSB Consultants: what changed
What changed
VSB Consultants
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€80,048
2024 · €42,148+€37,900
Equity
€584,155
2024 · €504,107+€80,048
Cash
€79,517
2024 · €221,739-€142,222
Balance sheet total
€587,542
2024 · €524,097+€63,445
Largest movements
Assets
- Current investments +€227,782
up €227,782 (+88.1%), from €258,641 to €486,423
- Cash -€142,222
down €142,222 (-64.1%), from €221,739 to €79,517
mainly Current investments (-€227,782) and Trade debts (-€12,246)
- Deferred charges and accrued income -€13,986
down €13,986 (-80.2%), from €17,430 to €3,444
Equity and liabilities
- Reserves +€80,000
up €80,000 (+16.6%), from €482,075 to €562,075
of which Distributable reserves: +€80,000
- Trade debts -€12,246
down €12,246 (-92.0%), from €13,315 to €1,069
Income statement
- Gross operating margin +€52,273
up €52,273 (+74.2%), from €70,464 to €122,738
- Taxes +€16,639
up €16,639 (+74.6%), from €22,300 to €38,939
- Depreciation -€7,792
down €7,792 (-90.1%), from €8,644 to €852
- Financial income -€4,631
down €4,631 (-89.7%), from €5,161 to €531
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€42,148
Gross operating margin
+€52,273
Depreciation
+€7,792
Other operating charges
-€398
Financial income
-€4,631
Financial charges
-€497
Taxes
-€16,639
Result 2025
€80,048
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€85,431
Investment
-€223,281
Financing
-€4,372
Cash 2024
€221,739
From operations (derived)
+€85,431
Net result for the year
+€80,048
Depreciation
+€852
Receivables within one year
+€2,775
Deferred charges and accrued income
+€13,986
Trade debts
-€12,246
Smaller working-capital items
+€15
Investment (derived)
-€223,281
Investment in fixed assets (net)
+€4,501
Current investments
-€227,782
Financing
-€4,372
Current portion of long-term debt
-€4,372
Cash 2025
€79,517
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €524,097 | €587,542 | +€63,445 | +12.1% |
| Fixed assets | 21/28 | €6,133 | €780 | -€5,353 | -87.3% |
| Tangible fixed assets | 22/27 | €6,133 | €780 | -€5,353 | -87.3% |
| Plant, machinery and equipment | 23 | €119 | €0 | -€119 | -100% |
| Furniture and vehicles | 24 | €6,014 | €780 | -€5,234 | -87.0% |
| Current assets | 29/58 | €517,964 | €586,762 | +€68,798 | +13.3% |
| Amounts receivable within one year | 40/41 | €20,153 | €17,378 | -€2,775 | -13.8% |
| Trade receivables | 40 | €20,140 | €14,290 | -€5,850 | -29.0% |
| Other amounts receivable | 41 | €13 | €3,088 | +€3,075 | +23,435% |
| Current investments | 50/53 | €258,641 | €486,423 | +€227,782 | +88.1% |
| Cash at bank and in hand | 54/58 | €221,739 | €79,517 | -€142,222 | -64.1% |
| Deferred charges and accrued income | 490/1 | €17,430 | €3,444 | -€13,986 | -80.2% |
| Total equity and liabilities | 10/49 | €524,097 | €587,542 | +€63,445 | +12.1% |
| Equity | 10/15 | €504,107 | €584,155 | +€80,048 | +15.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €482,075 | €562,075 | +€80,000 | +16.6% |
| Non-distributable reserves | 130/1 | €16,275 | €16,275 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,275 | €16,275 | = | 0.0% |
| Distributable reserves | 133 | €465,800 | €545,800 | +€80,000 | +17.2% |
| Profit (loss) carried forward | 14 | €3,282 | €3,330 | +€48 | +1.5% |
| Amounts payable | 17/49 | €19,990 | €3,387 | -€16,603 | -83.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Trade debts | 175 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €19,963 | €3,338 | -€16,625 | -83.3% |
| Current portion of amounts payable after more than one year | 42 | €4,372 | €0 | -€4,372 | -100% |
| Trade debts | 44 | €13,315 | €1,069 | -€12,246 | -92.0% |
| Suppliers | 440/4 | €13,315 | €1,069 | -€12,246 | -92.0% |
| Taxes, remuneration and social security | 45 | €1,998 | €1,725 | -€273 | -13.7% |
| Taxes | 450/3 | €1,998 | €1,725 | -€273 | -13.7% |
| Other amounts payable | 47/48 | €277 | €544 | +€266 | +95.9% |
| Accrued charges and deferred income | 492/3 | €27 | €49 | +€22 | +79.4% |
| Non-recurring operating income | 76A | - | €499 | +€499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,644 | €852 | -€7,792 | -90.1% |
| Other operating charges | 640/8 | €1,779 | €2,177 | +€398 | +22.4% |
| Gross operating margin | 9900 | €70,464 | €122,738 | +€52,273 | +74.2% |
| Operating profit (loss) | 9901 | €60,041 | €119,708 | +€59,667 | +99.4% |
| Financial income | 75/76B | €5,161 | €531 | -€4,631 | -89.7% |
| Recurring financial income | 75 | €5,161 | €531 | -€4,631 | -89.7% |
| Financial charges | 65/66B | €755 | €1,252 | +€497 | +65.9% |
| Recurring financial charges | 65 | €755 | €1,252 | +€497 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €64,448 | €118,987 | +€54,539 | +84.6% |
| Income taxes | 67/77 | €22,300 | €38,939 | +€16,639 | +74.6% |
| Profit (loss) for the period | 9904 | €42,148 | €80,048 | +€37,900 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,148 | €80,048 | +€37,900 | +89.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.