VCM Group: 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.
VCM Group
Largest movements
- Receivables within one year +€24,951
up €24,951 (+62.7%), from €39,813 to €64,764
of which Trade receivables: +€24,414
- Tangible fixed assets -€10,913
down €10,913 (-25.3%), from €43,055 to €32,142
- Deferred charges and accrued income -€4,654
down €4,654 (-52.7%), from €8,826 to €4,172
- Tax, wage and social debts +€8,535
up €8,535 (+839%), from €1,017 to €9,552
- Debts after one year -€4,813
down €4,813 (-15.4%), from €31,213 to €26,399
- Reserves +€3,701
up €3,701 (+10.1%), from €36,515 to €40,216
- Current portion of long-term debt +€3,180
up €3,180 (+57.9%), from €5,487 to €8,666
- Other debts -€2,826
down €2,826 (-100%), from €2,826 to €0
- Gross operating margin +€14,439
up €14,439 (+110%), from €13,094 to €27,533
- Depreciation +€6,280
up €6,280 (+100%), from €6,274 to €12,554
- Taxes +€2,667
up €2,667 (+1,345%), from €198 to €2,866
- Financial charges +€2,620
up €2,620 (+111%), from €2,357 to €4,978
- Other operating charges +€1,703
up €1,703 (+94.9%), from €1,794 to €3,498
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 | €120,813 | €128,972 | +€8,159 | +6.8% |
| Fixed assets | 21/28 | €46,207 | €35,294 | -€10,913 | -23.6% |
| Tangible fixed assets | 22/27 | €43,055 | €32,142 | -€10,913 | -25.3% |
| Plant, machinery and equipment | 23 | €15,218 | €9,915 | -€5,304 | -34.9% |
| Furniture and vehicles | 24 | €14,141 | €9,949 | -€4,192 | -29.6% |
| Other tangible fixed assets | 26 | €13,696 | €12,279 | -€1,418 | -10.4% |
| Financial fixed assets | 28 | €3,152 | €3,152 | = | 0.0% |
| Current assets | 29/58 | €74,606 | €93,678 | +€19,072 | +25.6% |
| Stocks and contracts in progress | 3 | €25,701 | €24,737 | -€964 | -3.8% |
| Stocks | 30/36 | €25,701 | €24,737 | -€964 | -3.8% |
| Amounts receivable within one year | 40/41 | €39,813 | €64,764 | +€24,951 | +62.7% |
| Trade receivables | 40 | €12,034 | €36,448 | +€24,414 | +203% |
| Other amounts receivable | 41 | €27,779 | €28,316 | +€537 | +1.9% |
| Cash at bank and in hand | 54/58 | €266 | €5 | -€261 | -98.1% |
| Deferred charges and accrued income | 490/1 | €8,826 | €4,172 | -€4,654 | -52.7% |
| Total equity and liabilities | 10/49 | €120,813 | €128,972 | +€8,159 | +6.8% |
| Equity | 10/15 | €42,715 | €46,416 | +€3,701 | +8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,515 | €40,216 | +€3,701 | +10.1% |
| Distributable reserves | 133 | €36,515 | €40,216 | +€3,701 | +10.1% |
| Amounts payable | 17/49 | €78,098 | €82,556 | +€4,458 | +5.7% |
| Amounts payable after more than one year | 17 | €31,213 | €26,399 | -€4,813 | -15.4% |
| Financial debts | 170/4 | €31,213 | €26,399 | -€4,813 | -15.4% |
| Amounts payable within one year | 42/48 | €44,029 | €55,861 | +€11,832 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €5,487 | €8,666 | +€3,180 | +57.9% |
| Financial debts | 43 | €12,753 | €13,907 | +€1,154 | +9.0% |
| Credit institutions | 430/8 | €12,753 | €13,907 | +€1,154 | +9.0% |
| Trade debts | 44 | €21,946 | €23,736 | +€1,790 | +8.2% |
| Suppliers | 440/4 | €21,946 | €23,736 | +€1,790 | +8.2% |
| Taxes, remuneration and social security | 45 | €1,017 | €9,552 | +€8,535 | +839% |
| Taxes | 450/3 | €1,017 | €9,552 | +€8,535 | +839% |
| Other amounts payable | 47/48 | €2,826 | €0 | -€2,826 | -100% |
| Accrued charges and deferred income | 492/3 | €2,856 | €295 | -€2,561 | -89.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,274 | €12,554 | +€6,280 | +100% |
| Other operating charges | 640/8 | €1,794 | €3,498 | +€1,703 | +94.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €13,094 | €27,533 | +€14,439 | +110% |
| Operating profit (loss) | 9901 | €5,025 | €11,481 | +€6,455 | +128% |
| Financial income | 75/76B | €101 | €63 | -€38 | -37.9% |
| Recurring financial income | 75 | €101 | €63 | -€38 | -37.9% |
| Financial charges | 65/66B | €2,357 | €4,978 | +€2,620 | +111% |
| Recurring financial charges | 65 | €2,357 | €4,978 | +€2,620 | +111% |
| Profit (loss) for the period before taxes | 9903 | €2,770 | €6,566 | +€3,796 | +137% |
| Income taxes | 67/77 | €198 | €2,866 | +€2,667 | +1,345% |
| Profit (loss) for the period | 9904 | €2,571 | €3,701 | +€1,129 | +43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,571 | €3,701 | +€1,129 | +43.9% |
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 13 October 2026 via checked.be.