VM DECO: 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 DECO
Largest movements
- Cash -€9,151
down €9,151 (-11.1%), from €82,278 to €73,127
mainly Contributions, distributions and other (-€74,222) and Trade debts (-€64,654)
- Tangible fixed assets +€5,270
up €5,270 (+107%), from €4,946 to €10,216
of which Furniture and vehicles: +€2,855
- Stocks and contracts +€4,853
up €4,853 (+8.5%), from €56,838 to €61,691
of which Contracts in progress: +€5,794
- Deferred charges and accrued income -€3,461
down €3,461 (-33.7%), from €10,260 to €6,799
- Other debts +€67,137
new in 2025: €67,137
- Trade debts -€64,654
down €64,654 (-73.2%), from €88,371 to €23,718
- Tax, wage and social debts +€7,589
up €7,589 (+26.2%), from €28,936 to €36,525
of which Taxes: +€11,461
- Reserves -€7,085
no longer reported in 2025 (was €7,085)
- Advances received -€6,482
down €6,482 (-8.6%), from €74,935 to €68,454
- Gross operating margin +€89,227
up €89,227 (+132%), from €67,428 to €156,654
- Taxes +€18,393
up €18,393 (+8,522%), from €216 to €18,609
- Staff costs +€8,741
up €8,741 (+16.0%), from €54,503 to €63,244
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 | €209,328 | €206,306 | -€3,021 | -1.4% |
| Fixed assets | 21/28 | €13,946 | €19,216 | +€5,270 | +37.8% |
| Tangible fixed assets | 22/27 | €4,946 | €10,216 | +€5,270 | +107% |
| Furniture and vehicles | 24 | €4,946 | €7,801 | +€2,855 | +57.7% |
| Other tangible fixed assets | 26 | - | €2,415 | +€2,415 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €195,381 | €187,090 | -€8,291 | -4.2% |
| Stocks and contracts in progress | 3 | €56,838 | €61,691 | +€4,853 | +8.5% |
| Stocks | 30/36 | €5,847 | €4,906 | -€941 | -16.1% |
| Contracts in progress | 37 | €50,991 | €56,785 | +€5,794 | +11.4% |
| Amounts receivable within one year | 40/41 | €46,004 | €45,473 | -€532 | -1.2% |
| Trade receivables | 40 | €17,444 | €11,369 | -€6,075 | -34.8% |
| Other amounts receivable | 41 | €28,560 | €34,104 | +€5,544 | +19.4% |
| Cash at bank and in hand | 54/58 | €82,278 | €73,127 | -€9,151 | -11.1% |
| Deferred charges and accrued income | 490/1 | €10,260 | €6,799 | -€3,461 | -33.7% |
| Total equity and liabilities | 10/49 | €209,328 | €206,306 | -€3,021 | -1.4% |
| Equity | 10/15 | €17,085 | €10,000 | -€7,085 | -41.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €7,085 | - | -€7,085 | |
| Distributable reserves | 133 | €7,085 | - | -€7,085 | |
| Amounts payable | 17/49 | €192,243 | €196,306 | +€4,064 | +2.1% |
| Amounts payable within one year | 42/48 | €192,243 | €195,833 | +€3,591 | +1.9% |
| Trade debts | 44 | €88,371 | €23,718 | -€64,654 | -73.2% |
| Suppliers | 440/4 | €88,371 | €23,718 | -€64,654 | -73.2% |
| Advances received on contracts in progress | 46 | €74,935 | €68,454 | -€6,482 | -8.6% |
| Taxes, remuneration and social security | 45 | €28,936 | €36,525 | +€7,589 | +26.2% |
| Taxes | 450/3 | €15,500 | €26,960 | +€11,461 | +73.9% |
| Remuneration and social security | 454/9 | €13,436 | €9,565 | -€3,872 | -28.8% |
| Other amounts payable | 47/48 | - | €67,137 | +€67,137 | |
| Accrued charges and deferred income | 492/3 | - | €473 | +€473 | |
| Remuneration, social security and pensions | 62 | €54,503 | €63,244 | +€8,741 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,025 | €2,505 | +€480 | +23.7% |
| Other operating charges | 640/8 | €1,429 | €1,705 | +€276 | +19.3% |
| Gross operating margin | 9900 | €67,428 | €156,654 | +€89,227 | +132% |
| Operating profit (loss) | 9901 | €9,471 | €89,200 | +€79,729 | +842% |
| Financial income | 75/76B | €939 | €1,625 | +€686 | +73.0% |
| Recurring financial income | 75 | €939 | €1,625 | +€686 | +73.0% |
| Financial charges | 65/66B | €5,457 | €5,079 | -€379 | -6.9% |
| Recurring financial charges | 65 | €5,457 | €5,079 | -€379 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €4,952 | €85,746 | +€80,794 | +1,631% |
| Income taxes | 67/77 | €216 | €18,609 | +€18,393 | +8,522% |
| Profit (loss) for the period | 9904 | €4,736 | €67,137 | +€62,401 | +1,317% |
| Profit (loss) for the period to be appropriated | 9905 | €4,736 | €67,137 | +€62,401 | +1,317% |
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 20 October 2026 via checked.be.