VM-INNOVATIONS: 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.
VM-INNOVATIONS
Largest movements
- Receivables within one year +€49,533
up €49,533 (+129.0%), from €38,389 to €87,922
- Cash +€28,946
up €28,946 (+32.4%), from €89,426 to €118,372
mainly Net result for the year (+€74,560) and Tax, wage and social debts (+€3,808)
- Reserves +€74,560
up €74,560 (+74.9%), from €99,567 to €174,127
- Tax, wage and social debts +€3,808
up €3,808 (+14.2%), from €26,795 to €30,602
- Gross operating margin +€10,525
up €10,525 (+12.4%), from €84,776 to €95,300
- Taxes +€2,208
up €2,208 (+12.9%), from €17,144 to €19,353
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 | €130,437 | €208,675 | +€78,238 | +60.0% |
| Fixed assets | 21/28 | €2,587 | €1,749 | -€838 | -32.4% |
| Tangible fixed assets | 22/27 | €2,587 | €1,749 | -€838 | -32.4% |
| Furniture and vehicles | 24 | €2,587 | €1,749 | -€838 | -32.4% |
| Current assets | 29/58 | €127,850 | €206,926 | +€79,076 | +61.9% |
| Amounts receivable within one year | 40/41 | €38,389 | €87,922 | +€49,533 | +129.0% |
| Trade receivables | 40 | €38,389 | €87,922 | +€49,533 | +129.0% |
| Cash at bank and in hand | 54/58 | €89,426 | €118,372 | +€28,946 | +32.4% |
| Deferred charges and accrued income | 490/1 | €35 | €632 | +€596 | +1681.8% |
| Total equity and liabilities | 10/49 | €130,437 | €208,675 | +€78,238 | +60.0% |
| Equity | 10/15 | €101,967 | €176,527 | +€74,560 | +73.1% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €99,567 | €174,127 | +€74,560 | +74.9% |
| Distributable reserves | 133 | €99,567 | €174,127 | +€74,560 | +74.9% |
| Amounts payable | 17/49 | €28,471 | €32,148 | +€3,677 | +12.9% |
| Amounts payable within one year | 42/48 | €28,471 | €32,148 | +€3,677 | +12.9% |
| Trade debts | 44 | €704 | €867 | +€163 | +23.1% |
| Suppliers | 440/4 | €704 | €867 | +€163 | +23.1% |
| Taxes, remuneration and social security | 45 | €26,795 | €30,602 | +€3,808 | +14.2% |
| Taxes | 450/3 | €26,795 | €30,602 | +€3,808 | +14.2% |
| Other amounts payable | 47/48 | €972 | €678 | -€293 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €838 | €838 | = | 0.0% |
| Other operating charges | 640/8 | €171 | €704 | +€533 | +311.8% |
| Gross operating margin | 9900 | €84,776 | €95,300 | +€10,525 | +12.4% |
| Operating profit (loss) | 9901 | €83,767 | €93,758 | +€9,991 | +11.9% |
| Financial income | 75/76B | €146 | €474 | +€328 | +225.4% |
| Recurring financial income | 75 | €146 | €474 | +€328 | +225.4% |
| Financial charges | 65/66B | €46 | €319 | +€272 | +585.8% |
| Recurring financial charges | 65 | €46 | €319 | +€272 | +585.8% |
| Profit (loss) for the period before taxes | 9903 | €83,866 | €93,913 | +€10,047 | +12.0% |
| Income taxes | 67/77 | €17,144 | €19,353 | +€2,208 | +12.9% |
| Profit (loss) for the period | 9904 | €66,722 | €74,560 | +€7,839 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,722 | €74,560 | +€7,839 | +11.7% |
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 7 October 2026 via checked.be.