VAM MANAGEMENT: 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.
VAM MANAGEMENT
Largest movements
- Tangible fixed assets -€367,165
down €367,165 (-4.4%), from €8.4m to €8.0m
of which Land and buildings: -€365,730
- Cash -€191,641
down €191,641 (-5.8%), from €3.3m to €3.1m
mainly Net result for the year (-€848,215) and Investment in fixed assets (net) (-€149,513)
- Profit (loss) carried forward -€848,215
down €848,215 (-13.9%), from €6.1m to €5.3m
- Other debts +€318,922
up €318,922 (+5.7%), from €5.6m to €5.9m
- Taxes -€3.3m
no longer reported in 2024 (was €3.3m)
- Financial charges +€67,296
up €67,296 (+23.6%), from €285,283 to €352,580
- Depreciation +€23,567
up €23,567 (+4.8%), from €493,112 to €516,679
- Other operating charges -€17,750
down €17,750 (-61.3%), from €28,941 to €11,191
- Financial income +€11,592
up €11,592 (+52.5%), from €22,085 to €33,677
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 | €13,369,603 | €12,890,667 | -€478,935 | -3.6% |
| Fixed assets | 21/28 | €8,361,974 | €7,994,808 | -€367,165 | -4.4% |
| Tangible fixed assets | 22/27 | €8,350,874 | €7,983,708 | -€367,165 | -4.4% |
| Land and buildings | 22 | €8,282,620 | €7,916,890 | -€365,730 | -4.4% |
| Furniture and vehicles | 24 | €4,221 | €2,785 | -€1,436 | -34.0% |
| Other tangible fixed assets | 26 | €64,033 | €64,033 | = | 0.0% |
| Financial fixed assets | 28 | €11,100 | €11,100 | = | 0.0% |
| Current assets | 29/58 | €5,007,629 | €4,895,859 | -€111,770 | -2.2% |
| Amounts receivable within one year | 40/41 | €387,791 | €430,808 | +€43,017 | +11.1% |
| Trade receivables | 40 | €124,542 | €124,542 | = | 0.0% |
| Other amounts receivable | 41 | €263,249 | €306,266 | +€43,017 | +16.3% |
| Current investments | 50/53 | €1,325,408 | €1,355,192 | +€29,785 | +2.2% |
| Cash at bank and in hand | 54/58 | €3,284,981 | €3,093,340 | -€191,641 | -5.8% |
| Deferred charges and accrued income | 490/1 | €9,449 | €16,518 | +€7,069 | +74.8% |
| Total equity and liabilities | 10/49 | €13,369,603 | €12,890,667 | -€478,935 | -3.6% |
| Equity | 10/15 | €6,140,660 | €5,292,445 | -€848,215 | -13.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,120,250 | €5,272,035 | -€848,215 | -13.9% |
| Amounts payable | 17/49 | €7,228,942 | €7,598,222 | +€369,280 | +5.1% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,227,982 | €6,598,222 | +€370,240 | +5.9% |
| Trade debts | 44 | €633,070 | €670,411 | +€37,340 | +5.9% |
| Suppliers | 440/4 | €633,070 | €670,411 | +€37,340 | +5.9% |
| Taxes, remuneration and social security | 45 | €27,534 | €41,512 | +€13,978 | +50.8% |
| Taxes | 450/3 | - | €13,978 | +€13,978 | |
| Remuneration and social security | 454/9 | €27,534 | €27,534 | = | 0.0% |
| Other amounts payable | 47/48 | €5,567,378 | €5,886,300 | +€318,922 | +5.7% |
| Accrued charges and deferred income | 492/3 | €960 | - | -€960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493,112 | €516,679 | +€23,567 | +4.8% |
| Other operating charges | 640/8 | €28,941 | €11,191 | -€17,750 | -61.3% |
| Gross operating margin | 9900 | €8,492 | -€1,442 | -€9,934 | |
| Operating profit (loss) | 9901 | -€513,561 | -€529,312 | -€15,751 | -3.1% |
| Financial income | 75/76B | €22,085 | €33,677 | +€11,592 | +52.5% |
| Recurring financial income | 75 | €22,085 | €33,677 | +€11,592 | +52.5% |
| Financial charges | 65/66B | €285,283 | €352,580 | +€67,296 | +23.6% |
| Recurring financial charges | 65 | €285,283 | €352,580 | +€67,296 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | -€776,759 | -€848,215 | -€71,456 | -9.2% |
| Income taxes | 67/77 | €3,306,350 | - | -€3.3m | |
| Profit (loss) for the period | 9904 | -€4,083,109 | -€848,215 | +€3.2m | +79.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,083,109 | -€848,215 | +€3.2m | +79.2% |
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 26 October 2026 via checked.be.