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VMF

Active
Public limited companyfounded 1921active for 105 yearsPeerstraat 25, 3290 Diest, BelgiumKBO/BCE: BE 0400.930.395
Summary

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

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

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
2025 value · change against 2024
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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 60 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.0m€4.2m▲
Fixed assets21/28€3.8m€4.1m▲
Intangible fixed assets21€0.003m€0.001m▼
Tangible fixed assets22/27€0.5m€0.8m▲
Land and buildings22€0.3m€0.3m▼
Plant, machinery and equipment23€0.005m€0.006m▲
Furniture and vehicles24€0.07m€0.02m▼
Other tangible fixed assets26€0.1m€0.5m▲
Financial fixed assets28€3.3m€3.3m=
Current assets29/58€0.2m€0.06m▼
Amounts receivable within one year40/41€0.2m€0.05m▼
Trade receivables40€0.003m€0.03m▲
Other amounts receivable41€0.1m€0.02m▼
Cash at bank and in hand54/58€0.03m€0.01m▼
Deferred charges and accrued income490/1€455-
Equity and liabilities
Total equity and liabilities10/49€4.0m€4.2m▲
Equity10/15€0.9m€1.1m▲
Contributions10/11€0.9m€0.9m=
Capital10€0.9m€0.9m=
Issued capital100€0.9m€0.9m=
Reserves13€0.4m€0.4m=
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Reserves not available under the articles1311€0.002m€0.002m=
Tax-exempt reserves132€0.4m€0.4m=
Distributable reserves133€0.004m€0.004m=
Profit (loss) carried forward14-€0.4m-€0.2m▲
Provisions and deferred taxes16€0.1m€0.1m=
Provisions for liabilities and charges160/5€0.1m€0.1m=
Major repairs and maintenance162€0.1m€0.1m=
Amounts payable17/49€3.0m€3.0m▲
Amounts payable after more than one year17€0.9m€1.9m▲
Financial debts170/4€0.01m€0.3m▲
Other amounts payable178/9€0.9m€1.6m▲
Amounts payable within one year42/48€2.1m€1.2m▼
Current portion of amounts payable after more than one year42€0.02m€0.04m▲
Trade debts44€0.007m€0.07m▲
Suppliers440/4€0.007m€0.07m▲
Taxes, remuneration and social security45€0.006m€0.001m▼
Taxes450/3€0.006m€0.001m▼
Other amounts payable47/48€2.1m€1.1m▼
Accrued charges and deferred income492/3€0.004m€0.004m▼
Income statement Code20242025
Non-recurring operating income76A-€0.02m
Remuneration, social security and pensions62€176-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.08m€0.07m▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€0.02m-
Other operating charges640/8€0.005m€0.001m▼
Non-recurring operating charges66A€0.001m-
Gross operating margin9900€0.1m€0.2m▲
Operating profit (loss)9901€0.06m€0.1m▲
Financial income75/76B€0.06m€0.007m▼
Recurring financial income75€0.06m€0.007m▼
Financial charges65/66B€0.1m€0.008m▼
Recurring financial charges65€0.004m€0.008m▲
Non-recurring financial charges66B€0.1m-
Profit (loss) for the period before taxes9903-€0.03m€0.1m▲
Profit (loss) for the period9904-€0.03m€0.1m▲
Profit (loss) for the period to be appropriated9905-€0.03m€0.1m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.4m-€0.2m▲
Profit (loss) brought forward from the previous period14P-€0.3m-€0.4m▼

The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
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-
Line20182019202020212022202320242025Change
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%
Line20182019202020212022202320242025Change
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.

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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

Show all 48 filings

Subsidies and aid

Flemish government

2022 · 1 entry · €207 awarded · €207 paid
Schemes
1 entry · €207 · €207 paid · Fonds voor Innoveren en Ondernemen

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.