VM FISK: 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 FISK
Largest movements
- Receivables within one year +€113,601
up €113,601 (+19.7%), from €575,427 to €689,028
of which Trade receivables: +€113,169
- Deferred charges and accrued income +€10,000
up €10,000 (+18.9%), from €52,927 to €62,927
- Trade debts +€133,021
up €133,021 (+87.9%), from €151,272 to €284,293
- Debts after one year -€125,000
down €125,000 (-62.5%), from €200,000 to €75,000
- Reserves +€95,000
up €95,000 (+31.7%), from €300,000 to €395,000
of which Distributable reserves: +€95,000
- Gross operating margin +€88,384
up €88,384 (+17.6%), from €500,769 to €589,153
- Staff costs +€53,922
up €53,922 (+14.6%), from €370,158 to €424,080
- Taxes +€11,278
up €11,278 (+43.8%), from €25,772 to €37,050
- Financial charges -€9,492
down €9,492 (-55.3%), from €17,151 to €7,659
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 | €769,808 | €885,758 | +€115,950 | +15.1% |
| Fixed assets | 21/28 | €41,220 | €33,747 | -€7,473 | -18.1% |
| Tangible fixed assets | 22/27 | €41,220 | €33,747 | -€7,473 | -18.1% |
| Plant, machinery and equipment | 23 | - | €4,646 | +€4,646 | |
| Furniture and vehicles | 24 | €41,220 | €29,101 | -€12,119 | -29.4% |
| Current assets | 29/58 | €728,589 | €852,011 | +€123,422 | +16.9% |
| Stocks and contracts in progress | 3 | €9,154 | €12,600 | +€3,446 | +37.6% |
| Stocks | 30/36 | €9,154 | €12,600 | +€3,446 | +37.6% |
| Amounts receivable within one year | 40/41 | €575,427 | €689,028 | +€113,601 | +19.7% |
| Trade receivables | 40 | €575,427 | €688,597 | +€113,169 | +19.7% |
| Other amounts receivable | 41 | €0 | €432 | +€432 | |
| Cash at bank and in hand | 54/58 | €91,080 | €87,455 | -€3,625 | -4.0% |
| Deferred charges and accrued income | 490/1 | €52,927 | €62,927 | +€10,000 | +18.9% |
| Total equity and liabilities | 10/49 | €769,808 | €885,758 | +€115,950 | +15.1% |
| Equity | 10/15 | €320,108 | €416,351 | +€96,243 | +30.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €300,000 | €395,000 | +€95,000 | +31.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,000 | €23,000 | = | 0.0% |
| Distributable reserves | 133 | €275,000 | €370,000 | +€95,000 | +34.5% |
| Profit (loss) carried forward | 14 | €108 | €1,351 | +€1,243 | +1,147% |
| Amounts payable | 17/49 | €449,700 | €469,406 | +€19,706 | +4.4% |
| Amounts payable after more than one year | 17 | €200,000 | €75,000 | -€125,000 | -62.5% |
| Financial debts | 170/4 | €200,000 | €75,000 | -€125,000 | -62.5% |
| Amounts payable within one year | 42/48 | €249,700 | €391,397 | +€141,697 | +56.7% |
| Trade debts | 44 | €151,272 | €284,293 | +€133,021 | +87.9% |
| Suppliers | 440/4 | €151,272 | €284,293 | +€133,021 | +87.9% |
| Taxes, remuneration and social security | 45 | €98,428 | €107,104 | +€8,676 | +8.8% |
| Taxes | 450/3 | €44,152 | €39,930 | -€4,223 | -9.6% |
| Remuneration and social security | 454/9 | €54,276 | €67,175 | +€12,899 | +23.8% |
| Accrued charges and deferred income | 492/3 | €0 | €3,009 | +€3,009 | |
| Remuneration, social security and pensions | 62 | €370,158 | €424,080 | +€53,922 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,694 | €15,104 | +€410 | +2.8% |
| Other operating charges | 640/8 | €6,001 | €9,036 | +€3,035 | +50.6% |
| Gross operating margin | 9900 | €500,769 | €589,153 | +€88,384 | +17.6% |
| Operating profit (loss) | 9901 | €109,916 | €140,933 | +€31,017 | +28.2% |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €17,151 | €7,659 | -€9,492 | -55.3% |
| Recurring financial charges | 65 | €17,151 | €7,659 | -€9,492 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €92,765 | €133,293 | +€40,528 | +43.7% |
| Income taxes | 67/77 | €25,772 | €37,050 | +€11,278 | +43.8% |
| Profit (loss) for the period | 9904 | €66,993 | €96,243 | +€29,251 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,993 | €96,243 | +€29,251 | +43.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.