V.M.V.S.K.: what changed
V.M.V.S.K.
Largest movements
- Stocks and contracts -€180,170
down €180,170 (-62.7%), from €287,337 to €107,167
- Deferred charges and accrued income +€32,746
up €32,746 (+488%), from €6,715 to €39,461
- Cash +€16,146
up €16,146 (+86.4%), from €18,692 to €34,838
mainly Stocks and contracts (+€180,170) and Net result for the year (+€20,239)
- Receivables within one year +€10,783
up €10,783 (+41.4%), from €26,069 to €36,853
of which Trade receivables: +€8,885
- Trade debts -€147,918
down €147,918 (-57.7%), from €256,222 to €108,304
- Profit (loss) carried forward +€20,239
up €20,239 (+91.5%), from -€22,108 to -€1,869
- Debts after one year +€4,279
up €4,279 (+11.6%), from €36,842 to €41,121
- Tax, wage and social debts +€3,780
up €3,780 (+49.2%), from €7,685 to €11,465
of which Taxes: +€11,464
- Financial income +€61,694
up €61,694 (+183%), from €33,685 to €95,379
- Gross operating margin -€21,336
down €21,336, from €720 to -€20,616
- Staff costs -€20,936
down €20,936 (-28.2%), from €74,132 to €53,196
- Other operating charges -€2,225
down €2,225 (-85.2%), from €2,612 to €387
- Financial charges -€661
down €661 (-43.7%), from €1,513 to €851
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €338,963 | €219,022 | -€119,942 | -35.4% |
| Fixed assets | 21/28 | €150 | €703 | +€553 | +369% |
| Tangible fixed assets | 22/27 | - | €553 | +€553 | |
| Furniture and vehicles | 24 | - | €553 | +€553 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €338,813 | €218,319 | -€120,495 | -35.6% |
| Stocks and contracts in progress | 3 | €287,337 | €107,167 | -€180,170 | -62.7% |
| Stocks | 30/36 | €287,337 | €107,167 | -€180,170 | -62.7% |
| Amounts receivable within one year | 40/41 | €26,069 | €36,853 | +€10,783 | +41.4% |
| Trade receivables | 40 | €4,049 | €12,934 | +€8,885 | +219% |
| Other amounts receivable | 41 | €22,021 | €23,919 | +€1,898 | +8.6% |
| Cash at bank and in hand | 54/58 | €18,692 | €34,838 | +€16,146 | +86.4% |
| Deferred charges and accrued income | 490/1 | €6,715 | €39,461 | +€32,746 | +488% |
| Total equity and liabilities | 10/49 | €338,963 | €219,022 | -€119,942 | -35.4% |
| Equity | 10/15 | €37,892 | €58,131 | +€20,239 | +53.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,108 | -€1,869 | +€20,239 | +91.5% |
| Amounts payable | 17/49 | €301,072 | €160,891 | -€140,181 | -46.6% |
| Amounts payable after more than one year | 17 | €36,842 | €41,121 | +€4,279 | +11.6% |
| Financial debts | 170/4 | €36,842 | €41,121 | +€4,279 | +11.6% |
| Amounts payable within one year | 42/48 | €264,229 | €119,769 | -€144,460 | -54.7% |
| Trade debts | 44 | €256,222 | €108,304 | -€147,918 | -57.7% |
| Suppliers | 440/4 | €256,222 | €108,304 | -€147,918 | -57.7% |
| Taxes, remuneration and social security | 45 | €7,685 | €11,465 | +€3,780 | +49.2% |
| Taxes | 450/3 | - | €11,464 | +€11,464 | |
| Remuneration and social security | 454/9 | €7,685 | €1 | -€7,684 | -100.0% |
| Other amounts payable | 47/48 | €322 | - | -€322 | |
| Remuneration, social security and pensions | 62 | €74,132 | €53,196 | -€20,936 | -28.2% |
| Other operating charges | 640/8 | €2,612 | €387 | -€2,225 | -85.2% |
| Gross operating margin | 9900 | €720 | -€20,616 | -€21,336 | |
| Operating profit (loss) | 9901 | -€76,024 | -€74,200 | +€1,825 | +2.4% |
| Financial income | 75/76B | €33,685 | €95,379 | +€61,694 | +183% |
| Recurring financial income | 75 | €33,685 | €95,379 | +€61,694 | +183% |
| Financial charges | 65/66B | €1,513 | €851 | -€661 | -43.7% |
| Recurring financial charges | 65 | €1,513 | €851 | -€661 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€43,853 | €20,328 | +€64,180 | |
| Income taxes | 67/77 | €102 | €88 | -€14 | -13.3% |
| Profit (loss) for the period | 9904 | -€43,955 | €20,239 | +€64,194 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,955 | €20,239 | +€64,194 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.