VM STORAGE: 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 STORAGE
Largest movements
- Stocks and contracts +€488,772
up €488,772 (+124%), from €394,384 to €883,155
- Cash -€268,795
down €268,795 (-42.4%), from €633,743 to €364,948
mainly Stocks and contracts (-€488,772) and Current investments (-€170,000)
- Current investments +€170,000
up €170,000, from €0 to €170,000
- Receivables within one year +€57,915
up €57,915 (+61.1%), from €94,863 to €152,778
of which Other amounts receivable: +€72,034
- Short-term financial debts +€370,253
up €370,253 (+238%), from €155,583 to €525,836
- Reserves +€49,209
up €49,209 (+5.5%), from €894,096 to €943,305
of which Distributable reserves: +€50,224
- Debts after one year +€37,782
up €37,782 (+36.2%), from €104,293 to €142,075
of which Financial debts: +€36,027
- Current portion of long-term debt +€23,036
up €23,036 (+50.1%), from €45,960 to €68,996
- Gross operating margin +€54,867
up €54,867 (+63.7%), from €86,132 to €141,000
- Financial income -€20,307
down €20,307 (-57.8%), from €35,151 to €14,844
- Depreciation +€13,314
up €13,314 (+33.9%), from €39,277 to €52,590
- Taxes +€6,115
up €6,115 (+42.8%), from €14,276 to €20,391
- Financial charges +€1,877
up €1,877 (+9.6%), from €19,472 to €21,349
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 | €1,615,109 | €2,078,693 | +€463,584 | +28.7% |
| Fixed assets | 21/28 | €477,141 | €490,926 | +€13,784 | +2.9% |
| Tangible fixed assets | 22/27 | €477,141 | €490,926 | +€13,784 | +2.9% |
| Land and buildings | 22 | €365,417 | €337,814 | -€27,603 | -7.6% |
| Plant, machinery and equipment | 23 | €42,210 | €36,460 | -€5,750 | -13.6% |
| Furniture and vehicles | 24 | €2,631 | €9,655 | +€7,025 | +267% |
| Other tangible fixed assets | 26 | €66,884 | €106,996 | +€40,112 | +60.0% |
| Current assets | 29/58 | €1,137,968 | €1,587,767 | +€449,800 | +39.5% |
| Stocks and contracts in progress | 3 | €394,384 | €883,155 | +€488,772 | +124% |
| Stocks | 30/36 | €394,384 | €883,155 | +€488,772 | +124% |
| Amounts receivable within one year | 40/41 | €94,863 | €152,778 | +€57,915 | +61.1% |
| Trade receivables | 40 | €20,973 | €6,853 | -€14,119 | -67.3% |
| Other amounts receivable | 41 | €73,890 | €145,924 | +€72,034 | +97.5% |
| Current investments | 50/53 | €0 | €170,000 | +€170,000 | |
| Cash at bank and in hand | 54/58 | €633,743 | €364,948 | -€268,795 | -42.4% |
| Deferred charges and accrued income | 490/1 | €14,978 | €16,886 | +€1,908 | +12.7% |
| Total equity and liabilities | 10/49 | €1,615,109 | €2,078,693 | +€463,584 | +28.7% |
| Equity | 10/15 | €1,208,885 | €1,258,094 | +€49,209 | +4.1% |
| Contributions | 10/11 | €314,789 | €314,789 | = | 0.0% |
| Reserves | 13 | €894,096 | €943,305 | +€49,209 | +5.5% |
| Tax-exempt reserves | 132 | €17,121 | €16,107 | -€1,014 | -5.9% |
| Distributable reserves | 133 | €876,974 | €927,198 | +€50,224 | +5.7% |
| Provisions and deferred taxes | 16 | €4,280 | €4,027 | -€254 | -5.9% |
| Deferred taxes | 168 | €4,280 | €4,027 | -€254 | -5.9% |
| Amounts payable | 17/49 | €401,944 | €816,572 | +€414,628 | +103% |
| Amounts payable after more than one year | 17 | €104,293 | €142,075 | +€37,782 | +36.2% |
| Financial debts | 170/4 | €104,293 | €140,320 | +€36,027 | +34.5% |
| Other amounts payable | 178/9 | - | €1,755 | +€1,755 | |
| Amounts payable within one year | 42/48 | €291,976 | €670,568 | +€378,592 | +130% |
| Current portion of amounts payable after more than one year | 42 | €45,960 | €68,996 | +€23,036 | +50.1% |
| Financial debts | 43 | €155,583 | €525,836 | +€370,253 | +238% |
| Credit institutions | 430/8 | €155,583 | €525,836 | +€370,253 | +238% |
| Trade debts | 44 | €36,461 | €24,456 | -€12,006 | -32.9% |
| Suppliers | 440/4 | €36,461 | €24,456 | -€12,006 | -32.9% |
| Advances received on contracts in progress | 46 | €0 | €3,933 | +€3,933 | |
| Taxes, remuneration and social security | 45 | €9,254 | €0 | -€9,254 | -100% |
| Taxes | 450/3 | €9,254 | €0 | -€9,254 | -100% |
| Other amounts payable | 47/48 | €44,718 | €47,347 | +€2,630 | +5.9% |
| Accrued charges and deferred income | 492/3 | €5,675 | €3,929 | -€1,746 | -30.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,277 | €52,590 | +€13,314 | +33.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,654 | €0 | -€1,654 | -100% |
| Other operating charges | 640/8 | €11,446 | €12,558 | +€1,112 | +9.7% |
| Gross operating margin | 9900 | €86,132 | €141,000 | +€54,867 | +63.7% |
| Operating profit (loss) | 9901 | €33,756 | €75,851 | +€42,096 | +125% |
| Financial income | 75/76B | €35,151 | €14,844 | -€20,307 | -57.8% |
| Recurring financial income | 75 | €35,151 | €14,844 | -€20,307 | -57.8% |
| Financial charges | 65/66B | €19,472 | €21,349 | +€1,877 | +9.6% |
| Recurring financial charges | 65 | €19,472 | €21,349 | +€1,877 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €49,434 | €69,346 | +€19,912 | +40.3% |
| Transfer from deferred taxes | 780 | €254 | €254 | = | 0.0% |
| Income taxes | 67/77 | €14,276 | €20,391 | +€6,115 | +42.8% |
| Profit (loss) for the period | 9904 | €35,412 | €49,209 | +€13,797 | +39.0% |
| Transfer from tax-exempt reserves | 789 | €1,014 | €1,014 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,427 | €50,224 | +€13,797 | +37.9% |
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 14 October 2026 via checked.be.