VM MAINTENANCE: 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 MAINTENANCE
Largest movements
- Receivables within one year +€78,999
up €78,999 (+127.4%), from €61,996 to €140,995
of which Trade receivables: +€76,802
- Stocks and contracts +€20,788
up €20,788 (+72.8%), from €28,566 to €49,354
- Tangible fixed assets -€3,807
down €3,807 (-4.8%), from €78,677 to €74,870
of which Furniture and vehicles: -€12,990
- Cash +€2,845
up €2,845 (+629.5%), from €452 to €3,297
mainly Other debts (+€48,564) and Tax, wage and social debts (+€35,639)
- Other debts +€48,564
up €48,564 (+687.1%), from €7,068 to €55,632
- Tax, wage and social debts +€35,639
up €35,639 (+63.5%), from €56,145 to €91,785
of which Remuneration and social security: +€24,303
- Trade debts +€24,078
up €24,078 (+118.2%), from €20,375 to €44,453
- Debts after one year -€10,752
down €10,752 (-27.0%), from €39,842 to €29,090
- Profit (loss) carried forward +€3,085
up €3,085 (+29.3%), from €10,546 to €13,631
- Staff costs +€38,674
up €38,674 (+3616.9%), from €1,069 to €39,744
- Gross operating margin +€35,082
up €35,082 (+101.5%), from €34,577 to €69,659
- Depreciation +€8,384
up €8,384 (+56.4%), from €14,858 to €23,241
- Taxes -€7,272
down €7,272 (-90.1%), from €8,075 to €803
- Financial charges +€861
up €861 (+73.2%), from €1,176 to €2,037
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 | €171,462 | €272,525 | +€101,062 | +58.9% |
| Fixed assets | 21/28 | €78,717 | €75,075 | -€3,642 | -4.6% |
| Tangible fixed assets | 22/27 | €78,677 | €74,870 | -€3,807 | -4.8% |
| Plant, machinery and equipment | 23 | €11,076 | €19,358 | +€8,282 | +74.8% |
| Furniture and vehicles | 24 | €62,294 | €49,304 | -€12,990 | -20.9% |
| Other tangible fixed assets | 26 | €1,775 | €1,670 | -€105 | -5.9% |
| Assets under construction and advance payments | 27 | €3,532 | €4,538 | +€1,006 | +28.5% |
| Financial fixed assets | 28 | €41 | €205 | +€164 | +404.6% |
| Current assets | 29/58 | €92,745 | €197,450 | +€104,705 | +112.9% |
| Stocks and contracts in progress | 3 | €28,566 | €49,354 | +€20,788 | +72.8% |
| Stocks | 30/36 | €28,566 | €49,354 | +€20,788 | +72.8% |
| Amounts receivable within one year | 40/41 | €61,996 | €140,995 | +€78,999 | +127.4% |
| Trade receivables | 40 | €61,996 | €138,798 | +€76,802 | +123.9% |
| Other amounts receivable | 41 | - | €2,197 | +€2,197 | |
| Cash at bank and in hand | 54/58 | €452 | €3,297 | +€2,845 | +629.5% |
| Deferred charges and accrued income | 490/1 | €1,731 | €3,804 | +€2,073 | +119.8% |
| Total equity and liabilities | 10/49 | €171,462 | €272,525 | +€101,062 | +58.9% |
| Equity | 10/15 | €37,729 | €40,814 | +€3,085 | +8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,583 | €8,583 | = | 0.0% |
| Distributable reserves | 133 | €8,583 | €8,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,546 | €13,631 | +€3,085 | +29.3% |
| Amounts payable | 17/49 | €133,734 | €231,711 | +€97,977 | +73.3% |
| Amounts payable after more than one year | 17 | €39,842 | €29,090 | -€10,752 | -27.0% |
| Financial debts | 170/4 | €39,842 | €29,090 | -€10,752 | -27.0% |
| Amounts payable within one year | 42/48 | €93,892 | €202,621 | +€108,729 | +115.8% |
| Current portion of amounts payable after more than one year | 42 | €10,304 | €10,752 | +€448 | +4.4% |
| Trade debts | 44 | €20,375 | €44,453 | +€24,078 | +118.2% |
| Suppliers | 440/4 | €20,375 | €44,453 | +€24,078 | +118.2% |
| Taxes, remuneration and social security | 45 | €56,145 | €91,785 | +€35,639 | +63.5% |
| Taxes | 450/3 | €7,292 | €18,628 | +€11,336 | +155.5% |
| Remuneration and social security | 454/9 | €48,853 | €73,156 | +€24,303 | +49.7% |
| Other amounts payable | 47/48 | €7,068 | €55,632 | +€48,564 | +687.1% |
| Remuneration, social security and pensions | 62 | €1,069 | €39,744 | +€38,674 | +3616.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,858 | €23,241 | +€8,384 | +56.4% |
| Other operating charges | 640/8 | €819 | €759 | -€60 | -7.3% |
| Gross operating margin | 9900 | €34,577 | €69,659 | +€35,082 | +101.5% |
| Operating profit (loss) | 9901 | €17,832 | €5,915 | -€11,917 | -66.8% |
| Financial income | 75/76B | €2 | €11 | +€8 | +349.6% |
| Recurring financial income | 75 | €2 | €11 | +€8 | +349.6% |
| Financial charges | 65/66B | €1,176 | €2,037 | +€861 | +73.2% |
| Recurring financial charges | 65 | €1,176 | €2,037 | +€861 | +73.2% |
| Profit (loss) for the period before taxes | 9903 | €16,658 | €3,888 | -€12,769 | -76.7% |
| Income taxes | 67/77 | €8,075 | €803 | -€7,272 | -90.1% |
| Profit (loss) for the period | 9904 | €8,583 | €3,085 | -€5,498 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,583 | €3,085 | -€5,498 | -64.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.