V.M.J.: what changed
Two financial 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.J.
Largest movements
- Receivables within one year -€102,768
down €102,768 (-21.8%), from €470,708 to €367,941
of which Trade receivables: -€119,720
- Cash -€11,299
no longer reported in 2024 (was €11,299)
mainly Trade debts (-€127,619) and Net result for the year (-€11,198)
- Tangible fixed assets -€5,586
down €5,586 (-74.6%), from €7,486 to €1,899
of which Leasing and similar rights: -€3,799
- Trade debts -€127,619
down €127,619 (-76.4%), from €167,010 to €39,391
- Other debts +€22,090
up €22,090 (+11.4%), from €192,960 to €215,050
- Profit (loss) carried forward -€11,198
down €11,198 (-46.2%), from €24,230 to €13,033
- Gross operating margin +€56,756
up €56,756 (+88.8%), from €63,923 to €120,679
- Provisions +€41,525
new in 2024: €41,525
- Other operating charges +€30,471
up €30,471 (+56.7%), from €53,740 to €84,211
- Depreciation -€5,794
down €5,794 (-50.9%), from €11,381 to €5,586
- Financial charges -€2,082
down €2,082 (-92.1%), from €2,262 to €180
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.
Derived cash bridge
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 | €504,753 | €385,100 | -€119,653 | -23.7% |
| Fixed assets | 21/28 | €22,746 | €17,159 | -€5,586 | -24.6% |
| Tangible fixed assets | 22/27 | €7,486 | €1,899 | -€5,586 | -74.6% |
| Furniture and vehicles | 24 | €1,787 | - | -€1,787 | |
| Leasing and similar rights | 25 | €5,698 | €1,899 | -€3,799 | -66.7% |
| Financial fixed assets | 28 | €15,260 | €15,260 | = | 0.0% |
| Current assets | 29/58 | €482,007 | €367,941 | -€114,067 | -23.7% |
| Amounts receivable within one year | 40/41 | €470,708 | €367,941 | -€102,768 | -21.8% |
| Trade receivables | 40 | €328,284 | €208,564 | -€119,720 | -36.5% |
| Other amounts receivable | 41 | €142,424 | €159,377 | +€16,953 | +11.9% |
| Cash at bank and in hand | 54/58 | €11,299 | - | -€11,299 | |
| Total equity and liabilities | 10/49 | €504,753 | €385,100 | -€119,653 | -23.7% |
| Equity | 10/15 | €139,480 | €128,283 | -€11,198 | -8.0% |
| Contributions | 10/11 | €108,066 | €108,066 | = | 0.0% |
| Reserves | 13 | €7,184 | €7,184 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,184 | €7,184 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,184 | €7,184 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,230 | €13,033 | -€11,198 | -46.2% |
| Amounts payable | 17/49 | €365,273 | €256,817 | -€108,455 | -29.7% |
| Amounts payable within one year | 42/48 | €365,273 | €256,817 | -€108,455 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €3,300 | - | -€3,300 | |
| Trade debts | 44 | €167,010 | €39,391 | -€127,619 | -76.4% |
| Suppliers | 440/4 | €167,010 | €39,391 | -€127,619 | -76.4% |
| Taxes, remuneration and social security | 45 | €2,002 | €2,377 | +€375 | +18.7% |
| Taxes | 450/3 | €2,002 | €2,377 | +€375 | +18.7% |
| Other amounts payable | 47/48 | €192,960 | €215,050 | +€22,090 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,381 | €5,586 | -€5,794 | -50.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €41,525 | +€41,525 | |
| Other operating charges | 640/8 | €53,740 | €84,211 | +€30,471 | +56.7% |
| Gross operating margin | 9900 | €63,923 | €120,679 | +€56,756 | +88.8% |
| Operating profit (loss) | 9901 | -€1,198 | -€10,643 | -€9,445 | -788% |
| Financial charges | 65/66B | €2,262 | €180 | -€2,082 | -92.1% |
| Recurring financial charges | 65 | €2,262 | €180 | -€2,082 | -92.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,460 | -€10,823 | -€7,363 | -213% |
| Transfer to deferred taxes | 680 | €3 | - | -€3 | |
| Income taxes | 67/77 | €1,152 | €375 | -€777 | -67.5% |
| Profit (loss) for the period | 9904 | -€4,615 | -€11,198 | -€6,583 | -143% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,615 | -€11,198 | -€6,583 | -143% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.