VM-INDUSTRIES: 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-INDUSTRIES
Largest movements
- Receivables within one year +€52,355
up €52,355 (+191%), from €27,456 to €79,811
of which Trade receivables: +€27,316
- Cash -€4,736
down €4,736 (-23.3%), from €20,337 to €15,601
mainly Receivables within one year (-€52,355) and Other debts (-€15,348)
- Tangible fixed assets -€3,332
down €3,332 (-15.0%), from €22,143 to €18,810
of which Furniture and vehicles: -€4,384
- Profit (loss) carried forward +€43,608
up €43,608 (+188%), from €23,224 to €66,832
- Tax, wage and social debts +€21,815
up €21,815 (+160%), from €13,613 to €35,428
- Other debts -€15,348
no longer reported in 2025 (was €15,348)
- Trade debts -€5,844
down €5,844 (-45.4%), from €12,877 to €7,033
- Gross operating margin +€23,733
up €23,733 (+61.8%), from €38,378 to €62,111
- Taxes +€2,918
up €2,918 (+31.8%), from €9,187 to €12,105
- Depreciation +€1,000
up €1,000 (+19.4%), from €5,144 to €6,144
- Financial income +€679
up €679 (+339,465%), from €0 to €679
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 | €70,062 | €114,293 | +€44,231 | +63.1% |
| Fixed assets | 21/28 | €22,143 | €18,810 | -€3,332 | -15.0% |
| Tangible fixed assets | 22/27 | €22,143 | €18,810 | -€3,332 | -15.0% |
| Plant, machinery and equipment | 23 | - | €1,052 | +€1,052 | |
| Furniture and vehicles | 24 | €22,143 | €17,758 | -€4,384 | -19.8% |
| Current assets | 29/58 | €47,920 | €95,483 | +€47,563 | +99.3% |
| Amounts receivable within one year | 40/41 | €27,456 | €79,811 | +€52,355 | +191% |
| Trade receivables | 40 | €27,456 | €54,772 | +€27,316 | +99.5% |
| Other amounts receivable | 41 | - | €25,039 | +€25,039 | |
| Cash at bank and in hand | 54/58 | €20,337 | €15,601 | -€4,736 | -23.3% |
| Deferred charges and accrued income | 490/1 | €127 | €71 | -€57 | -44.5% |
| Total equity and liabilities | 10/49 | €70,062 | €114,293 | +€44,231 | +63.1% |
| Equity | 10/15 | €28,224 | €71,832 | +€43,608 | +155% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,224 | €66,832 | +€43,608 | +188% |
| Amounts payable | 17/49 | €41,839 | €42,461 | +€622 | +1.5% |
| Amounts payable within one year | 42/48 | €41,839 | €42,461 | +€622 | +1.5% |
| Trade debts | 44 | €12,877 | €7,033 | -€5,844 | -45.4% |
| Suppliers | 440/4 | €12,877 | €7,033 | -€5,844 | -45.4% |
| Taxes, remuneration and social security | 45 | €13,613 | €35,428 | +€21,815 | +160% |
| Taxes | 450/3 | €13,613 | €35,428 | +€21,815 | +160% |
| Other amounts payable | 47/48 | €15,348 | - | -€15,348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,144 | €6,144 | +€1,000 | +19.4% |
| Other operating charges | 640/8 | €784 | €607 | -€177 | -22.5% |
| Gross operating margin | 9900 | €38,378 | €62,111 | +€23,733 | +61.8% |
| Operating profit (loss) | 9901 | €32,450 | €55,360 | +€22,910 | +70.6% |
| Financial income | 75/76B | €0 | €679 | +€679 | +339,465% |
| Recurring financial income | 75 | €0 | €679 | +€679 | +339,465% |
| Financial charges | 65/66B | €39 | €325 | +€286 | +735% |
| Recurring financial charges | 65 | €39 | €325 | +€286 | +735% |
| Profit (loss) for the period before taxes | 9903 | €32,411 | €55,714 | +€23,303 | +71.9% |
| Income taxes | 67/77 | €9,187 | €12,105 | +€2,918 | +31.8% |
| Profit (loss) for the period | 9904 | €23,224 | €43,608 | +€20,384 | +87.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,224 | €43,608 | +€20,384 | +87.8% |
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 25 October 2026 via checked.be.