VMF
ActiveSummary
VMF has been active since 1921 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €112,131. Equity is growing by about 76% per year across the filed financial years. Its solvency ranks better than 41% of 510 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, full format
In the rankings
#1 oldest company in Flemish Brabant, Arts, sports and recreation sector#2 company by total assets in Diest, Arts, sports and recreation sector
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€427,328▲ 1.4%
2022 · €421,415
EBIT margin
28.7%▼ 22.8pp
2022 · 51.5%
Net result
€112,131
2024 · -€30,030
Working capital
-€1.1m▲ 41.7%
2024 · -€1.9m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 105% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.4m
2023
Operating result€0.1m
2025
Net result€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€4.2m
2025
Equity€1.1m
2025
Debt€3.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€1.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin28.7%
2023
Return on assets (ROA)2.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency25.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.05
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0.1
2020
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m-€0.2m▼ 8.3%€0.4m▲ 65.4%€0.4m▲ 21.9%€0.4m▼ 2.0%€0.4m▲ 1.4%
Operating result-€0.1m--€0.1m▼ 3.1%€0.1m€0.2m▲ 32.9%€0.2m▲ 33.0%€0.1m▼ 43.4%€0.06m▼ 55.0%€0.1m▲ 105%
Net result-€0.1m--€0.1m▲ 1.0%€0.2mabove the sector's middle half€0.2mabove the sector's middle half▼ 11.5%€0.08mwithin the sector's middle half▼ 62.1%€0.8mabove the sector's middle half▲ 886%-€0.03mbelow the sector's middle half€0.1mwithin the sector's middle half
EBIT margin-52.7%--59.3%▼ 6.5pp34.8%▲ 94.1pp37.9%▲ 3.1pp51.5%▲ 13.5pp28.7%▼ 22.8pp
Equity-€0.2m--€0.4m▼ 59.3%-€0.1mbelow the sector's middle half▲ 64.6%€0.08mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 99.9%€1.0mabove the sector's middle half▲ 493%€0.9mwithin the sector's middle half▼ 3.1%€1.1mwithin the sector's middle half▲ 11.9%
Total assets€0.8m-€0.8m▼ 6.7%€1.2mwithin the sector's middle half▲ 52.0%€1.5mwithin the sector's middle half▲ 30.5%€1.7mwithin the sector's middle half▲ 9.0%€4.4mabove the sector's middle half▲ 160%€4.0mabove the sector's middle half▼ 8.0%€4.2mwithin the sector's middle half▲ 4.0%
Debt€0.9m-€1.0m▲ 10.9%€1.2m▲ 16.4%€1.3m▲ 12.3%€1.4m▲ 4.3%€3.3m▲ 137%€3.0m▼ 9.3%€3.0m▲ 1.7%
Working capital-€0.5m--€0.8m▼ 77.7%€0.09mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 227%€0.2mwithin the sector's middle half▼ 27.7%-€2.0mbelow the sector's middle half-€1.9mbelow the sector's middle half▲ 4.3%-€1.1mbelow the sector's middle half▲ 41.7%
Solvency-28.4%--48.4%▼ 20.1pp-11.3%below the sector's middle half▲ 37.2pp5.3%within the sector's middle half▲ 16.6pp9.7%within the sector's middle half▲ 4.4pp22.1%within the sector's middle half▲ 12.4pp23.3%within the sector's middle half▲ 1.2pp25.1%within the sector's middle half▲ 1.8pp
Current ratio0.33-0.20▼ 0.122.23within the sector's middle half▲ 2.022.94within the sector's middle half▲ 0.711.59within the sector's middle half▼ 1.350.14below the sector's middle half▼ 1.450.09below the sector's middle half▼ 0.050.05below the sector's middle half▼ 0.04
Return on assets (ROA)-17.0%--18.0%▼ 1.0pp20.6%above the sector's middle half▲ 38.6pp14.0%above the sector's middle half▼ 6.6pp4.9%within the sector's middle half▼ 9.1pp18.4%above the sector's middle half▲ 13.5pp-0.7%within the sector's middle half▼ 19.2pp2.7%within the sector's middle half▲ 3.4pp
Staff (FTE)0.1-0.1=0.1below the sector's middle half=
above
within
below
the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2023 Net result +886% on 2022. The accounts now follow the abbreviated format, last year the full format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€4.1m ▲ 7.6%
Current assets
€57,414 ▼ 69.0%
Equity and liabilities €4.2m
Equity
€1.1m ▲ 11.9%
Provisions
€120,661 =
Debt
€3.0m ▲ 1.7%
Debt's share of the balance-sheet total falls from 73.7% to 72.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€184,576▲
2024 · €134,068
Cash flow
€183,483▲
2024 · €48,762
Debt to equity
2.87▼
2024 · 3.16
ROE
10.7%▲
2024 · -3.2%
Interest coverage
22.72▼
2024 · 30.80
Debt ≤ 1 year
€1.2m▼
2024 · €2.1m
Debt > 1 year
€1.9m▲
2024 · €880,790
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €429,883 | €483,796 | - | - | - | - |
| Turnover70 | €232,484 | €213,187 | €352,553 | €429,883 | €421,415 | €427,328 | - | - | - |
| Other operating income74 | - | - | - | - | €827 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €61,554 | €2,760 | - | €15,335 | - |
| Operating charges60/66A | - | - | - | €266,855 | €266,904 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €224,660 | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €1,103 | €2,893 | - | - | - | - |
| Purchases600/8 | - | - | - | €1,103 | €2,893 | - | - | - | - |
| Services and other goods61 | - | - | - | €208,256 | €202,486 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2,458 | €698 | €140 | €176 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,705 | €44,633 | €45,179 | €53,329 | €56,167 | €77,693 | €78,791 | €71,352 | ▼ 9.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | -€15,287 | - | - |
| Other operating charges640/8 | - | - | - | €1,709 | €2,418 | €4,900 | €4,704 | €1,385 | ▼ 70.5% |
| Non-recurring operating charges66A | - | - | - | - | €2,243 | - | €1,100 | - | - |
| Gross operating margin9900 | -€24,326 | -€53,335 | €180,505 | - | - | €205,438 | €124,761 | €185,961 | ▲ 49.1% |
| Operating profit (loss)9901 | -€122,627 | -€126,408 | €122,668 | €163,027 | €216,892 | €122,705 | €55,277 | €113,224 | ▲ 105% |
| Financial income75/76B | - | - | - | €52,883 | €66,880 | €689,563 | €63,761 | €7,030 | ▼ 89.0% |
| Recurring financial income75 | €71 | €0 | €121,252 | €52,883 | €66,880 | €300,113 | €63,761 | €7,030 | ▼ 89.0% |
| Income from financial fixed assets750 | - | - | - | €52,880 | €66,880 | - | - | - | - |
| Other financial income752/9 | - | - | - | €3 | €0 | - | - | - | - |
| Non-recurring financial income76B | - | - | - | - | - | €389,450 | - | - | - |
| Financial charges65/66B | - | - | - | €439 | €202,060 | €6,427 | €149,068 | €8,123 | ▼ 94.6% |
| Recurring financial charges65 | €18,762 | €13,716 | €348 | €439 | €2,060 | €6,427 | €4,353 | €8,123 | ▲ 86.6% |
| Debt charges650 | - | - | - | - | €1,385 | - | - | - | - |
| Other financial charges652/9 | - | - | - | €439 | €675 | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | - | €200,000 | - | €144,714 | - | - |
| Profit (loss) for the period before taxes9903 | -€141,318 | -€140,124 | €243,572 | €215,472 | €81,712 | €805,841 | -€30,030 | €112,131 | - |
| Income taxes67/77 | €334 | €179 | €196 | - | -€34 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €34 | - | - | - | - |
| Profit (loss) for the period9904 | -€141,653 | -€140,303 | €243,376 | €215,472 | €81,746 | €805,841 | -€30,030 | €112,131 | - |
| Profit (loss) for the period to be appropriated9905 | -€141,653 | -€140,303 | €243,376 | €215,472 | €81,746 | €805,841 | -€30,030 | €112,131 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.8m | €1.2m | €1.5m | €1.7m | €4.4m | €4.0m | €4.2m | ▲ 4.0% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €0.6m | €0.6m | €1.0m | €1.1m | €1.1m | €4.1m | €3.8m | €4.1m | ▲ 7.6% |
| Intangible fixed assets21 | €0 | €0 | €0.002m | €0.009m | €0.007m | €0.005m | €0.003m | €0.001m | ▼ 65.8% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.6m | €0.5m | €0.8m | ▲ 58.5% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 1.1% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | - | €0.006m | €0.005m | €0.006m | ▲ 33.6% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.09m | €0.07m | €0.02m | ▼ 73.1% |
| Other tangible fixed assets26 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.5m | ▲ 307% |
| Financial fixed assets28 | €0 | €0 | €0.4m | €0.5m | €0.6m | €3.5m | €3.3m | €3.3m | = |
| Affiliated companies280/1 | - | - | - | €0.2m | €0.3m | - | - | - | - |
| Participating interests280 | - | - | - | €0.2m | €0.3m | - | - | - | - |
| Companies linked by participating interests282/3 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Participating interests282 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.2m | €0.2m | - | - | - | - |
| Shares284 | - | - | - | €0.2m | €0.2m | - | - | - | - |
| Current assets29/58 | €0.2m | €0.2m | €0.2m | €0.4m | €0.6m | €0.3m | €0.2m | €0.06m | ▼ 69.0% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.1m | €0.4m | €0.5m | €0.2m | €0.2m | €0.05m | ▼ 69.0% |
| Trade receivables40 | - | - | - | €0.07m | €0.05m | €0.004m | €0.003m | €0.03m | ▲ 932% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.5m | €0.2m | €0.1m | €0.02m | ▼ 87.2% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.004m | €0.006m | €0.003m | €0.03m | €0.005m | €0.1m | €0.03m | €0.01m | ▼ 69.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.009m | €0.008m | €455 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €1.2m | €1.5m | €1.7m | €4.4m | €4.0m | €4.2m | ▲ 4.0% |
| Equity10/15 | -€0.2m | -€0.4m | -€0.1m | €0.08m | €0.2m | €1.0m | €0.9m | €1.1m | ▲ 11.9% |
| Contributions10/11 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Capital10 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Issued capital100 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Distributable reserves133 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | -€1.5m | -€1.7m | -€1.4m | -€1.2m | -€1.1m | -€0.3m | -€0.4m | -€0.2m | ▲ 31.0% |
| Provisions and deferred taxes16 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Major repairs and maintenance162 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Amounts payable17/49 | €0.9m | €1.0m | €1.2m | €1.3m | €1.4m | €3.3m | €3.0m | €3.0m | ▲ 1.7% |
| Amounts payable after more than one year17 | €0.2m | - | €1.1m | €1.2m | €1.0m | €1.0m | €0.9m | €1.9m | ▲ 110% |
| Financial debts170/4 | - | - | - | - | €0.02m | €0.03m | €0.01m | €0.3m | ▲ 18× |
| Credit institutions173 | - | - | - | - | €0.02m | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €1.2m | €1.0m | €0.9m | €0.9m | €1.6m | ▲ 82.8% |
| Amounts payable within one year42/48 | €0.7m | €1.0m | €0.07m | €0.1m | €0.4m | €2.3m | €2.1m | €1.2m | ▼ 44.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.02m | €0.03m | €0.02m | €0.04m | ▲ 136% |
| Trade debts44 | €0.02m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.007m | €0.07m | ▲ 885% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.01m | €0.007m | €0.07m | ▲ 885% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.005m | €0.006m | €0.001m | ▼ 81.9% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.005m | €0.006m | €0.001m | ▼ 81.9% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.3m | €2.2m | €2.1m | €1.1m | ▼ 48.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.006m | €0.002m | €0.004m | €0.004m | ▼ 10.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.1m | -€0.1m | €0.2m | €0.2m | €0.08m | €0.8m | -€0.03m | €0.1m | - |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.05m | €0.05m | €0.06m | €0.08m | €0.08m | €0.07m | ▼ 9.4% |
| Operating cash flow (approximation) | -€0.1m | -€0.1m | €0.3m | €0.3m | €0.1m | €0.9m | €0.05m | €0.2m | ▲ 276% |
| Investment in fixed assets (approximation) | - | -€0.004m | -€0.5m | -€0.1m | -€0.07m | -€3.0m | €0.1m | -€0.4m | - |
| Change in cash | - | €0.002m | -€0.003m | €0.02m | -€0.02m | €0.1m | -€0.08m | -€0.02m | ▲ 71.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 01-07-2026 | 2026-00243028 |
| 31-12-2024 | abbreviated format | 25-06-2025 | 2025-00176910 |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00203949 |
| 31-12-2022 | full format | 10-07-2023 | 2023-00220338 |
| 31-12-2021 | full format | 05-07-2022 | 2022-20153059 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-60800045 |
| 31-12-2019 | abbreviated format | 28-10-2020 | 2020-65600128 |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-31900021 |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-25200265 |
| 31-12-2016 | abbreviated format | 11-08-2017 | 2017-43100149 |
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Subsidies and aid
Flemish government
2022 · 1 entry · €207 awarded · €207 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.