VCM INTERNATIONAL: 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 INTERNATIONAL
Largest movements
- Stocks and contracts -€38,455
down €38,455 (-100%), from €38,455 to €0
- Cash +€34,288
up €34,288 (+29.2%), from €117,352 to €151,640
mainly Net result for the year (+€63,711) and Stocks and contracts (+€38,455)
- Receivables within one year +€26,460
up €26,460 (+24.4%), from €108,251 to €134,712
of which Trade receivables: +€24,482
- Reserves +€63,711
up €63,711 (+64.1%), from €99,404 to €163,115
- Trade debts -€42,937
down €42,937 (-41.0%), from €104,750 to €61,813
- Gross operating margin -€29,618
down €29,618 (-23.9%), from €124,080 to €94,462
- Taxes -€9,971
down €9,971 (-24.8%), from €40,175 to €30,204
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.
Derived cash bridge
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 | €267,158 | €288,619 | +€21,461 | +8.0% |
| Fixed assets | 21/28 | €1,100 | €2,267 | +€1,167 | +106% |
| Tangible fixed assets | 22/27 | €1,100 | €2,267 | +€1,167 | +106% |
| Furniture and vehicles | 24 | €0 | €1,167 | +€1,167 | |
| Other tangible fixed assets | 26 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €266,058 | €286,352 | +€20,294 | +7.6% |
| Stocks and contracts in progress | 3 | €38,455 | €0 | -€38,455 | -100% |
| Stocks | 30/36 | €38,455 | €0 | -€38,455 | -100% |
| Amounts receivable within one year | 40/41 | €108,251 | €134,712 | +€26,460 | +24.4% |
| Trade receivables | 40 | €104,283 | €128,765 | +€24,482 | +23.5% |
| Other amounts receivable | 41 | €3,968 | €5,947 | +€1,979 | +49.9% |
| Cash at bank and in hand | 54/58 | €117,352 | €151,640 | +€34,288 | +29.2% |
| Deferred charges and accrued income | 490/1 | €2,000 | €0 | -€2,000 | -100% |
| Total equity and liabilities | 10/49 | €267,158 | €288,619 | +€21,461 | +8.0% |
| Equity | 10/15 | €118,004 | €181,715 | +€63,711 | +54.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,404 | €163,115 | +€63,711 | +64.1% |
| Distributable reserves | 133 | €99,404 | €163,115 | +€63,711 | +64.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €149,154 | €106,904 | -€42,250 | -28.3% |
| Amounts payable within one year | 42/48 | €149,154 | €106,904 | -€42,250 | -28.3% |
| Trade debts | 44 | €104,750 | €61,813 | -€42,937 | -41.0% |
| Suppliers | 440/4 | €104,750 | €61,813 | -€42,937 | -41.0% |
| Taxes, remuneration and social security | 45 | €44,404 | €45,090 | +€686 | +1.5% |
| Taxes | 450/3 | €44,404 | €45,090 | +€686 | +1.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136 | €583 | +€447 | +329% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €124,080 | €94,462 | -€29,618 | -23.9% |
| Operating profit (loss) | 9901 | €123,556 | €93,478 | -€30,078 | -24.3% |
| Financial income | 75/76B | €1,398 | €546 | -€852 | -60.9% |
| Recurring financial income | 75 | €1,398 | €546 | -€852 | -60.9% |
| Financial charges | 65/66B | €104 | €110 | +€6 | +5.7% |
| Recurring financial charges | 65 | €104 | €110 | +€6 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €124,851 | €93,915 | -€30,936 | -24.8% |
| Income taxes | 67/77 | €40,175 | €30,204 | -€9,971 | -24.8% |
| Profit (loss) for the period | 9904 | €84,676 | €63,711 | -€20,965 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,676 | €63,711 | -€20,965 | -24.8% |
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 21 October 2026 via checked.be.