VTB 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.
VTB Consulting
Largest movements
- Tangible fixed assets +€27,349
up €27,349 (+14.4%), from €189,790 to €217,139
of which Land and buildings: +€35,811
- Debts after one year +€18,886
up €18,886 (+16.8%), from €112,220 to €131,107
- Tax, wage and social debts +€5,300
up €5,300 (+96.8%), from €5,475 to €10,775
- Current portion of long-term debt +€3,227
up €3,227 (+19.0%), from €16,985 to €20,212
- Gross operating margin -€11,469
down €11,469 (-31.6%), from €36,277 to €24,808
- Other operating charges -€9,698
down €9,698 (-79.7%), from €12,166 to €2,468
- Depreciation +€3,024
up €3,024 (+24.2%), from €12,517 to €15,541
- Financial charges +€2,344
up €2,344 (+62.2%), from €3,769 to €6,113
- Taxes -€2,021
down €2,021 (-43.8%), from €4,612 to €2,590
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 | €228,250 | €253,953 | +€25,703 | +11.3% |
| Fixed assets | 21/28 | €189,790 | €217,139 | +€27,349 | +14.4% |
| Tangible fixed assets | 22/27 | €189,790 | €217,139 | +€27,349 | +14.4% |
| Land and buildings | 22 | €123,221 | €159,032 | +€35,811 | +29.1% |
| Plant, machinery and equipment | 23 | - | €2,552 | +€2,552 | |
| Furniture and vehicles | 24 | €11,287 | €7,235 | -€4,051 | -35.9% |
| Other tangible fixed assets | 26 | €55,282 | €48,319 | -€6,963 | -12.6% |
| Current assets | 29/58 | €38,460 | €36,814 | -€1,646 | -4.3% |
| Amounts receivable within one year | 40/41 | €20,819 | €21,441 | +€622 | +3.0% |
| Trade receivables | 40 | €13,595 | €15,144 | +€1,549 | +11.4% |
| Other amounts receivable | 41 | €7,225 | €6,298 | -€927 | -12.8% |
| Cash at bank and in hand | 54/58 | €15,305 | €12,833 | -€2,472 | -16.1% |
| Deferred charges and accrued income | 490/1 | €2,336 | €2,540 | +€203 | +8.7% |
| Total equity and liabilities | 10/49 | €228,250 | €253,953 | +€25,703 | +11.3% |
| Equity | 10/15 | €90,095 | €88,190 | -€1,905 | -2.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €88,095 | €86,190 | -€1,905 | -2.2% |
| Distributable reserves | 133 | €88,095 | €86,190 | -€1,905 | -2.2% |
| Amounts payable | 17/49 | €138,155 | €165,763 | +€27,608 | +20.0% |
| Amounts payable after more than one year | 17 | €112,220 | €131,107 | +€18,886 | +16.8% |
| Financial debts | 170/4 | €112,220 | €131,107 | +€18,886 | +16.8% |
| Amounts payable within one year | 42/48 | €25,935 | €34,551 | +€8,616 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €16,985 | €20,212 | +€3,227 | +19.0% |
| Trade debts | 44 | €2,729 | €3,437 | +€708 | +25.9% |
| Suppliers | 440/4 | €2,729 | €3,437 | +€708 | +25.9% |
| Taxes, remuneration and social security | 45 | €5,475 | €10,775 | +€5,300 | +96.8% |
| Taxes | 450/3 | €5,475 | €10,775 | +€5,300 | +96.8% |
| Other amounts payable | 47/48 | €747 | €127 | -€619 | -83.0% |
| Accrued charges and deferred income | 492/3 | - | €105 | +€105 | |
| Non-recurring operating income | 76A | - | €1,042 | +€1,042 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,517 | €15,541 | +€3,024 | +24.2% |
| Other operating charges | 640/8 | €12,166 | €2,468 | -€9,698 | -79.7% |
| Gross operating margin | 9900 | €36,277 | €24,808 | -€11,469 | -31.6% |
| Operating profit (loss) | 9901 | €11,593 | €6,799 | -€4,794 | -41.4% |
| Financial income | 75/76B | €1,838 | - | -€1,838 | |
| Recurring financial income | 75 | €1,838 | - | -€1,838 | |
| Financial charges | 65/66B | €3,769 | €6,113 | +€2,344 | +62.2% |
| Recurring financial charges | 65 | €3,769 | €6,113 | +€2,344 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €9,663 | €686 | -€8,977 | -92.9% |
| Income taxes | 67/77 | €4,612 | €2,590 | -€2,021 | -43.8% |
| Profit (loss) for the period | 9904 | €5,051 | -€1,905 | -€6,956 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,051 | -€1,905 | -€6,956 |
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 3 October 2026 via checked.be.