VM-LABS: 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-LABS
Largest movements
- Cash +€29,871
up €29,871 (+35.7%), from €83,651 to €113,522
mainly Net result for the year (+€49,476) and Other debts (+€47,954)
- Receivables within one year +€14,298
up €14,298 (+71.9%), from €19,874 to €34,173
of which Trade receivables: +€11,844
- Tangible fixed assets -€4,046
down €4,046 (-16.4%), from €24,681 to €20,636
of which Plant, machinery and equipment: -€3,126
- Deferred charges and accrued income +€1,987
up €1,987 (+77.7%), from €2,559 to €4,546
- Other debts +€47,954
up €47,954 (+104,795%), from €46 to €48,000
- Trade debts -€9,679
down €9,679 (-68.9%), from €14,040 to €4,361
- Tax, wage and social debts +€2,359
up €2,359 (+8.5%), from €27,598 to €29,958
- Gross operating margin +€5,873
up €5,873 (+9.0%), from €65,056 to €70,929
- Taxes -€1,468
down €1,468 (-8.6%), from €17,016 to €15,548
- Financial income +€926
up €926 (+12,611%), from €7 to €933
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 | €130,765 | €172,876 | +€42,111 | +32.2% |
| Fixed assets | 21/28 | €24,681 | €20,636 | -€4,046 | -16.4% |
| Tangible fixed assets | 22/27 | €24,681 | €20,636 | -€4,046 | -16.4% |
| Plant, machinery and equipment | 23 | €23,761 | €20,636 | -€3,126 | -13.2% |
| Furniture and vehicles | 24 | €920 | €0 | -€920 | -100% |
| Current assets | 29/58 | €106,084 | €152,240 | +€46,157 | +43.5% |
| Amounts receivable within one year | 40/41 | €19,874 | €34,173 | +€14,298 | +71.9% |
| Trade receivables | 40 | €19,874 | €31,718 | +€11,844 | +59.6% |
| Other amounts receivable | 41 | - | €2,455 | +€2,455 | |
| Cash at bank and in hand | 54/58 | €83,651 | €113,522 | +€29,871 | +35.7% |
| Deferred charges and accrued income | 490/1 | €2,559 | €4,546 | +€1,987 | +77.7% |
| Total equity and liabilities | 10/49 | €130,765 | €172,876 | +€42,111 | +32.2% |
| Equity | 10/15 | €89,081 | €90,557 | +€1,476 | +1.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €78,986 | €80,557 | +€1,571 | +2.0% |
| Distributable reserves | 133 | €78,986 | €80,557 | +€1,571 | +2.0% |
| Profit (loss) carried forward | 14 | €95 | €0 | -€95 | -100% |
| Amounts payable | 17/49 | €41,684 | €82,319 | +€40,635 | +97.5% |
| Amounts payable within one year | 42/48 | €41,684 | €82,319 | +€40,635 | +97.5% |
| Trade debts | 44 | €14,040 | €4,361 | -€9,679 | -68.9% |
| Suppliers | 440/4 | €14,040 | €4,361 | -€9,679 | -68.9% |
| Taxes, remuneration and social security | 45 | €27,598 | €29,958 | +€2,359 | +8.5% |
| Taxes | 450/3 | €27,598 | €29,958 | +€2,359 | +8.5% |
| Other amounts payable | 47/48 | €46 | €48,000 | +€47,954 | +104,795% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,635 | €4,046 | -€589 | -12.7% |
| Other operating charges | 640/8 | €1,135 | €785 | -€351 | -30.9% |
| Gross operating margin | 9900 | €65,056 | €70,929 | +€5,873 | +9.0% |
| Operating profit (loss) | 9901 | €59,286 | €66,099 | +€6,813 | +11.5% |
| Financial income | 75/76B | €7 | €933 | +€926 | +12,611% |
| Recurring financial income | 75 | €7 | €933 | +€926 | +12,611% |
| Financial charges | 65/66B | €2,004 | €2,008 | +€4 | +0.2% |
| Recurring financial charges | 65 | €2,004 | €2,008 | +€4 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €57,289 | €65,024 | +€7,734 | +13.5% |
| Income taxes | 67/77 | €17,016 | €15,548 | -€1,468 | -8.6% |
| Profit (loss) for the period | 9904 | €40,274 | €49,476 | +€9,203 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,274 | €49,476 | +€9,203 | +22.9% |
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 22 October 2026 via checked.be.