VBMI: 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.
VBMI
Largest movements
- Cash +€85,053
up €85,053 (+81.8%), from €103,923 to €188,976
mainly Net result for the year (+€104,503) and Tax, wage and social debts (+€33,789)
- Receivables within one year +€53,240
new in 2025: €53,240
- Reserves +€111,000
up €111,000 (+160.9%), from €69,000 to €180,000
- Tax, wage and social debts +€33,789
up €33,789 (+130.9%), from €25,809 to €59,599
- Profit (loss) carried forward -€6,497
down €6,497 (-91.3%), from €7,114 to €617
- Gross operating margin +€36,354
up €36,354 (+37.5%), from €96,905 to €133,260
- Taxes +€8,811
up €8,811 (+45.1%), from €19,514 to €28,325
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,923 | €242,216 | +€138,293 | +133.1% |
| Current assets | 29/58 | €103,923 | €242,216 | +€138,293 | +133.1% |
| Amounts receivable within one year | 40/41 | - | €53,240 | +€53,240 | |
| Trade receivables | 40 | - | €53,240 | +€53,240 | |
| Cash at bank and in hand | 54/58 | €103,923 | €188,976 | +€85,053 | +81.8% |
| Total equity and liabilities | 10/49 | €103,923 | €242,216 | +€138,293 | +133.1% |
| Equity | 10/15 | €78,114 | €182,617 | +€104,503 | +133.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €69,000 | €180,000 | +€111,000 | +160.9% |
| Distributable reserves | 133 | €69,000 | €180,000 | +€111,000 | +160.9% |
| Profit (loss) carried forward | 14 | €7,114 | €617 | -€6,497 | -91.3% |
| Amounts payable | 17/49 | €25,809 | €59,599 | +€33,789 | +130.9% |
| Amounts payable within one year | 42/48 | €25,809 | €59,599 | +€33,789 | +130.9% |
| Taxes, remuneration and social security | 45 | €25,809 | €59,599 | +€33,789 | +130.9% |
| Taxes | 450/3 | €25,809 | €59,599 | +€33,789 | +130.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €890 | - | -€890 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €96,905 | €133,260 | +€36,354 | +37.5% |
| Operating profit (loss) | 9901 | €95,628 | €132,860 | +€37,232 | +38.9% |
| Financial charges | 65/66B | - | €32 | +€32 | |
| Recurring financial charges | 65 | - | €32 | +€32 | |
| Profit (loss) for the period before taxes | 9903 | €95,628 | €132,828 | +€37,200 | +38.9% |
| Income taxes | 67/77 | €19,514 | €28,325 | +€8,811 | +45.1% |
| Profit (loss) for the period | 9904 | €76,114 | €104,503 | +€28,390 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €76,114 | €104,503 | +€28,390 | +37.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.