VMS PROJECTS
Dissolved and wound up on 30-03-2026Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-02-2026 at the NBB all 3 filings
Turnover
≈ €12,000
Estimated: probably between €5,300 and €28,000
Total assets
€257,151▼ 34.9%
2024 · €394,877
Net result
-€3,292
2024 · €81,980
Working capital
€236,438▼ 0.4%
2024 · €237,300
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€1,430
2025
20232025
Net result
-€3,292
2025
20232025
Equity
€238,217
▼ 1.4%
2025
20232025
Total assets
€257,151
▼ 34.9%
2025
20232025
Debt
€18,933
▼ 87.7%
2025
20232025
Working capital
€236,438
▼ 0.4%
2025
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€14,799-€119,213-€1,430
Net result-€17,269-€81,980-€3,292
Equity€159,529-€241,510▲ 51.4%€238,217▼ 1.4%
Total assets€221,798-€394,877▲ 78.0%€257,151▼ 34.9%
Debt€62,268-€153,368▲ 146%€18,933▼ 87.7%
Working capital€152,162-€237,300▲ 56.0%€236,438▼ 0.4%
The operating result for 2025 is a loss of €1,430, after a profit of €119,213 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €257,151
Fixed assets
€1,780 ▼ 57.7%
Current assets
€255,371 ▼ 34.6%
Equity and liabilities €257,151
Equity
€238,217 ▼ 1.4%
Debt
€18,933 ▼ 87.7%
Debt's share of the balance-sheet total falls from 38.8% to 7.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€999▼
2024 · €122,371
Cash flow
-€863▼
2024 · €85,139
Current ratio
13.49▲
2024 · 2.55
Debt to equity
0.08▼
2024 · 0.64
ROE
-1.4%▼
2024 · 33.9%
ROA
-1.3%▼
2024 · 20.8%
Interest coverage
0.38▼
2024 · 10.31
Debt ≤ 1 year
€18,933▼
2024 · €153,368
Income taxes
-€744▼
2024 · €25,362
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €14,876 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,158 | €3,158 | €2,429 | ▼ 23.1% |
| Other operating charges640/8 | €109 | €118 | €507 | ▲ 330% |
| Gross operating margin9900 | -€11,532 | €122,489 | €1,507 | ▼ 98.8% |
| Operating profit (loss)9901 | -€14,799 | €119,213 | -€1,430 | - |
| Financial income75/76B | €69 | €2 | €1 | ▼ 46.5% |
| Recurring financial income75 | €69 | €2 | €1 | ▼ 46.5% |
| Financial charges65/66B | €1,506 | €11,872 | €2,607 | ▼ 78.0% |
| Recurring financial charges65 | €1,506 | €11,872 | €2,607 | ▼ 78.0% |
| Profit (loss) for the period before taxes9903 | -€16,236 | €107,342 | -€4,036 | - |
| Income taxes67/77 | €1,032 | €25,362 | -€744 | - |
| Profit (loss) for the period9904 | -€17,269 | €81,980 | -€3,292 | - |
| Profit (loss) for the period to be appropriated9905 | -€17,269 | €81,980 | -€3,292 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €221,798 | €394,877 | €257,151 | ▼ 34.9% |
| Fixed assets21/28 | €7,367 | €4,209 | €1,780 | ▼ 57.7% |
| Tangible fixed assets22/27 | €7,367 | €4,209 | €1,780 | ▼ 57.7% |
| Furniture and vehicles24 | €7,367 | €4,209 | €1,780 | ▼ 57.7% |
| Financial fixed assets28 | €0 | - | - | - |
| Current assets29/58 | €214,430 | €390,668 | €255,371 | ▼ 34.6% |
| Stocks and contracts in progress3 | €32,134 | €209,836 | €0 | ▼ 100% |
| Stocks30/36 | €32,134 | €0 | - | - |
| Contracts in progress37 | - | €209,836 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €538 | €0 | €126,447 | - |
| Trade receivables40 | €0 | - | - | - |
| Other amounts receivable41 | €538 | €0 | €126,447 | - |
| Cash at bank and in hand54/58 | €178,217 | €178,384 | €128,745 | ▼ 27.8% |
| Deferred charges and accrued income490/1 | €3,540 | €2,448 | €179 | ▼ 92.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €221,798 | €394,877 | €257,151 | ▼ 34.9% |
| Equity10/15 | €159,529 | €241,510 | €238,217 | ▼ 1.4% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €174,798 | €239,510 | €239,510 | = |
| Distributable reserves133 | €174,798 | €239,510 | €239,510 | = |
| Profit (loss) carried forward14 | -€17,269 | €0 | -€3,292 | - |
| Amounts payable17/49 | €62,268 | €153,368 | €18,933 | ▼ 87.7% |
| Amounts payable within one year42/48 | €62,268 | €153,368 | €18,933 | ▼ 87.7% |
| Trade debts44 | €23,974 | €66,900 | €17,428 | ▼ 73.9% |
| Suppliers440/4 | €23,974 | €66,900 | €17,428 | ▼ 73.9% |
| Taxes, remuneration and social security45 | €1,032 | €48,053 | €1,505 | ▼ 96.9% |
| Taxes450/3 | €1,032 | €48,053 | €1,505 | ▼ 96.9% |
| Other amounts payable47/48 | €37,262 | €38,414 | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,269 | €81,980 | -€3,292 | - |
| + Depreciation and write-downs630 | €3,158 | €3,158 | €2,429 | ▼ 23.1% |
| Operating cash flow (approximation) | -€14,111 | €85,139 | -€863 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €166 | -€49,639 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.