VM CHAUFFAGE: 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.
VM CHAUFFAGE
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash -€56,905
down €56,905 (-54.8%), from €103,861 to €46,957
mainly Current investments (-€75,000) and Contributions, distributions and other (-€20,833)
- Receivables within one year -€14,686
down €14,686 (-80.6%), from €18,213 to €3,527
of which Trade receivables: -€14,164
- Deferred charges and accrued income -€1,952
down €1,952 (-89.1%), from €2,192 to €240
- Stocks and contracts -€1,749
down €1,749 (-32.0%), from €5,463 to €3,714
- Other debts +€11,532
up €11,532 (+74.0%), from €15,587 to €27,119
- Reserves -€6,021
down €6,021 (-5.8%), from €102,960 to €96,939
- Trade debts -€4,372
down €4,372 (-81.8%), from €5,343 to €971
- Tax, wage and social debts -€2,568
down €2,568 (-30.7%), from €8,362 to €5,794
of which Taxes: -€4,158
- Gross operating margin -€6,395
down €6,395 (-21.6%), from €29,568 to €23,174
- Taxes -€2,579
down €2,579 (-29.3%), from €8,808 to €6,229
- Financial charges -€1,317
down €1,317 (-85.4%), from €1,541 to €224
- Other operating charges -€492
down €492 (-34.4%), from €1,431 to €938
- Depreciation -€450
down €450 (-17.2%), from €2,614 to €2,164
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 | €139,252 | €137,823 | -€1,429 | -1.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €9,523 | €8,385 | -€1,137 | -11.9% |
| Tangible fixed assets | 22/27 | €7,573 | €6,435 | -€1,137 | -15.0% |
| Plant, machinery and equipment | 23 | €4,515 | €3,083 | -€1,432 | -31.7% |
| Furniture and vehicles | 24 | €3,058 | €3,353 | +€295 | +9.7% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €129,729 | €129,437 | -€292 | -0.2% |
| Stocks and contracts in progress | 3 | €5,463 | €3,714 | -€1,749 | -32.0% |
| Stocks | 30/36 | €5,463 | €3,714 | -€1,749 | -32.0% |
| Amounts receivable within one year | 40/41 | €18,213 | €3,527 | -€14,686 | -80.6% |
| Trade receivables | 40 | €14,354 | €189 | -€14,164 | -98.7% |
| Other amounts receivable | 41 | €3,859 | €3,338 | -€522 | -13.5% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €103,861 | €46,957 | -€56,905 | -54.8% |
| Deferred charges and accrued income | 490/1 | €2,192 | €240 | -€1,952 | -89.1% |
| Total equity and liabilities | 10/49 | €139,252 | €137,823 | -€1,429 | -1.0% |
| Equity | 10/15 | €109,960 | €103,939 | -€6,021 | -5.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €102,960 | €96,939 | -€6,021 | -5.8% |
| Distributable reserves | 133 | €102,960 | €96,939 | -€6,021 | -5.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €29,292 | €33,884 | +€4,591 | +15.7% |
| Amounts payable within one year | 42/48 | €29,292 | €33,884 | +€4,591 | +15.7% |
| Trade debts | 44 | €5,343 | €971 | -€4,372 | -81.8% |
| Suppliers | 440/4 | €5,343 | €971 | -€4,372 | -81.8% |
| Taxes, remuneration and social security | 45 | €8,362 | €5,794 | -€2,568 | -30.7% |
| Taxes | 450/3 | €8,362 | €4,204 | -€4,158 | -49.7% |
| Remuneration and social security | 454/9 | - | €1,590 | +€1,590 | |
| Other amounts payable | 47/48 | €15,587 | €27,119 | +€11,532 | +74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,614 | €2,164 | -€450 | -17.2% |
| Other operating charges | 640/8 | €1,431 | €938 | -€492 | -34.4% |
| Gross operating margin | 9900 | €29,568 | €23,174 | -€6,395 | -21.6% |
| Operating profit (loss) | 9901 | €25,523 | €20,071 | -€5,452 | -21.4% |
| Financial income | 75/76B | €1,286 | €1,195 | -€92 | -7.1% |
| Recurring financial income | 75 | €1,286 | €1,195 | -€92 | -7.1% |
| Financial charges | 65/66B | €1,541 | €224 | -€1,317 | -85.4% |
| Recurring financial charges | 65 | €1,541 | €224 | -€1,317 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €25,268 | €21,041 | -€4,227 | -16.7% |
| Income taxes | 67/77 | €8,808 | €6,229 | -€2,579 | -29.3% |
| Profit (loss) for the period | 9904 | €16,461 | €14,812 | -€1,648 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,461 | €14,812 | -€1,648 | -10.0% |
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 14 October 2026 via checked.be.