V.M.D.: 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.
V.M.D.
Largest movements
- Receivables within one year +€49,319
up €49,319 (+29.2%), from €168,645 to €217,963
of which Other amounts receivable: +€37,016
- Tangible fixed assets -€14,948
down €14,948 (-4.2%), from €353,525 to €338,577
of which Land and buildings: -€9,091
- Deferred charges and accrued income -€9,059
no longer reported in 2024 (was €9,059)
- Other debts +€19,637
up €19,637 (+32.5%), from €60,363 to €80,000
- Trade debts +€16,736
up €16,736 (+49.2%), from €34,026 to €50,761
of which Suppliers: +€19,236
- Debts after one year -€15,432
down €15,432 (-6.0%), from €256,039 to €240,607
- Staff costs +€7,833
up €7,833 (+6.7%), from €116,870 to €124,703
- Other operating charges -€2,881
down €2,881 (-45.0%), from €6,395 to €3,514
- Gross operating margin +€2,236
up €2,236 (+1.3%), from €172,953 to €175,189
- Financial income +€2,103
up €2,103 (+23.2%), from €9,059 to €11,162
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €542,864 | €565,113 | +€22,249 | +4.1% |
| Fixed assets | 21/28 | €356,261 | €341,314 | -€14,948 | -4.2% |
| Tangible fixed assets | 22/27 | €353,525 | €338,577 | -€14,948 | -4.2% |
| Land and buildings | 22 | €310,070 | €300,979 | -€9,091 | -2.9% |
| Plant, machinery and equipment | 23 | €42,275 | €37,442 | -€4,833 | -11.4% |
| Furniture and vehicles | 24 | €1,179 | €156 | -€1,024 | -86.8% |
| Financial fixed assets | 28 | €2,737 | €2,737 | = | 0.0% |
| Current assets | 29/58 | €186,602 | €223,800 | +€37,197 | +19.9% |
| Amounts receivable within one year | 40/41 | €168,645 | €217,963 | +€49,319 | +29.2% |
| Trade receivables | 40 | €3,087 | €15,390 | +€12,303 | +398.5% |
| Other amounts receivable | 41 | €165,558 | €202,573 | +€37,016 | +22.4% |
| Cash at bank and in hand | 54/58 | €8,899 | €5,836 | -€3,062 | -34.4% |
| Deferred charges and accrued income | 490/1 | €9,059 | - | -€9,059 | |
| Total equity and liabilities | 10/49 | €542,864 | €565,113 | +€22,249 | +4.1% |
| Equity | 10/15 | €133,369 | €135,281 | +€1,912 | +1.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,909 | €114,821 | +€1,912 | +1.7% |
| Amounts payable | 17/49 | €409,495 | €429,832 | +€20,337 | +5.0% |
| Amounts payable after more than one year | 17 | €256,039 | €240,607 | -€15,432 | -6.0% |
| Financial debts | 170/4 | €256,039 | €240,607 | -€15,432 | -6.0% |
| Amounts payable within one year | 42/48 | €153,456 | €189,225 | +€35,769 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €15,159 | €15,432 | +€273 | +1.8% |
| Trade debts | 44 | €34,026 | €50,761 | +€16,736 | +49.2% |
| Suppliers | 440/4 | €31,526 | €50,761 | +€19,236 | +61.0% |
| Bills of exchange payable | 441 | €2,500 | - | -€2,500 | |
| Taxes, remuneration and social security | 45 | €43,909 | €43,032 | -€877 | -2.0% |
| Taxes | 450/3 | €24,858 | €24,655 | -€203 | -0.8% |
| Remuneration and social security | 454/9 | €19,051 | €18,377 | -€674 | -3.5% |
| Other amounts payable | 47/48 | €60,363 | €80,000 | +€19,637 | +32.5% |
| Remuneration, social security and pensions | 62 | €116,870 | €124,703 | +€7,833 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,043 | €14,948 | -€95 | -0.6% |
| Other operating charges | 640/8 | €6,395 | €3,514 | -€2,881 | -45.0% |
| Gross operating margin | 9900 | €172,953 | €175,189 | +€2,236 | +1.3% |
| Operating profit (loss) | 9901 | €34,644 | €32,024 | -€2,621 | -7.6% |
| Financial income | 75/76B | €9,059 | €11,162 | +€2,103 | +23.2% |
| Recurring financial income | 75 | €9,059 | €11,162 | +€2,103 | +23.2% |
| Financial charges | 65/66B | €7,292 | €7,971 | +€679 | +9.3% |
| Recurring financial charges | 65 | €7,292 | €7,971 | +€679 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €36,411 | €35,215 | -€1,196 | -3.3% |
| Income taxes | 67/77 | €13,755 | €13,303 | -€452 | -3.3% |
| Profit (loss) for the period | 9904 | €22,656 | €21,912 | -€744 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,656 | €21,912 | -€744 | -3.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.