VLMK: what changed
Two fiscal 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.
VLMK
Largest movements
- Tangible fixed assets +€160,000
new in 2025: €160,000
- Cash -€9,282
down €9,282 (-55.4%), from €16,755 to €7,473
mainly Investment in fixed assets (net) (-€183,944)
- Other debts +€88,851
up €88,851 (+12.7%), from €699,186 to €788,037
- Reserves +€51,669
new in 2025: €51,669
- Gross operating margin +€43,560
up €43,560, from -€590 to €42,970
- Financial income +€42,000
new in 2025: €42,000
- Depreciation +€23,934
up €23,934 (+8265.2%), from €290 to €24,224
- Financial charges +€4,610
new in 2025: €4,610
- Taxes +€2,417
new in 2025: €2,417
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 | €717,536 | €867,490 | +€149,954 | +20.9% |
| Formation expenses | 20 | €1,110 | €830 | -€280 | -25.2% |
| Fixed assets | 21/28 | €699,186 | €859,186 | +€160,000 | +22.9% |
| Tangible fixed assets | 22/27 | - | €160,000 | +€160,000 | |
| Land and buildings | 22 | - | €160,000 | +€160,000 | |
| Financial fixed assets | 28 | €699,186 | €699,186 | = | 0.0% |
| Current assets | 29/58 | €17,239 | €7,473 | -€9,766 | -56.6% |
| Amounts receivable within one year | 40/41 | €484 | - | -€484 | |
| Trade receivables | 40 | €484 | - | -€484 | |
| Cash at bank and in hand | 54/58 | €16,755 | €7,473 | -€9,282 | -55.4% |
| Total equity and liabilities | 10/49 | €717,536 | €867,490 | +€149,954 | +20.9% |
| Equity | 10/15 | €18,349 | €71,669 | +€53,320 | +290.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €51,669 | +€51,669 | |
| Distributable reserves | 133 | - | €51,669 | +€51,669 | |
| Profit (loss) carried forward | 14 | -€1,651 | - | +€1,651 | |
| Amounts payable | 17/49 | €699,186 | €795,821 | +€96,635 | +13.8% |
| Amounts payable within one year | 42/48 | €699,186 | €791,241 | +€92,055 | +13.2% |
| Trade debts | 44 | - | €787 | +€787 | |
| Suppliers | 440/4 | - | €787 | +€787 | |
| Taxes, remuneration and social security | 45 | - | €2,417 | +€2,417 | |
| Taxes | 450/3 | - | €2,417 | +€2,417 | |
| Other amounts payable | 47/48 | €699,186 | €788,037 | +€88,851 | +12.7% |
| Accrued charges and deferred income | 492/3 | - | €4,580 | +€4,580 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290 | €24,224 | +€23,934 | +8265.2% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | -€590 | €42,970 | +€43,560 | |
| Operating profit (loss) | 9901 | -€1,651 | €18,347 | +€19,997 | |
| Financial income | 75/76B | - | €42,000 | +€42,000 | |
| Recurring financial income | 75 | - | €42,000 | +€42,000 | |
| Financial charges | 65/66B | - | €4,610 | +€4,610 | |
| Recurring financial charges | 65 | - | €4,610 | +€4,610 | |
| Profit (loss) for the period before taxes | 9903 | -€1,651 | €55,737 | +€57,388 | |
| Income taxes | 67/77 | - | €2,417 | +€2,417 | |
| Profit (loss) for the period | 9904 | -€1,651 | €53,320 | +€54,970 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,651 | €53,320 | +€54,970 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.