VM-TEC: 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-TEC
Largest movements
- Cash -€36,347
down €36,347 (-77.6%), from €46,839 to €10,492
mainly Net result for the year (-€27,536) and Receivables within one year (-€17,429)
- Receivables within one year +€17,429
up €17,429 (+36.5%), from €47,785 to €65,214
of which Trade receivables: +€9,275
- Deferred charges and accrued income -€6,695
down €6,695 (-13.1%), from €51,086 to €44,391
- Reserves -€45,961
down €45,961 (-28.9%), from €158,860 to €112,899
of which Distributable reserves: -€45,961
- Profit (loss) carried forward +€18,425
up €18,425, from -€18,425 to €0
- Tax, wage and social debts +€4,421
up €4,421 (+107%), from €4,139 to €8,559
of which Remuneration and social security: +€2,826
- Trade debts -€1,939
down €1,939 (-36.2%), from €5,363 to €3,423
- Gross operating margin -€8,024
down €8,024 (-74.9%), from -€10,715 to -€18,739
- Depreciation +€1,382
up €1,382 (+19.4%), from €7,133 to €8,515
- Financial income +€1,374
up €1,374 (+280%), from €491 to €1,866
- Other operating charges +€888
up €888 (+115%), from €773 to €1,661
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,536 | €143,481 | -€25,055 | -14.9% |
| Fixed assets | 21/28 | €22,826 | €23,384 | +€558 | +2.4% |
| Tangible fixed assets | 22/27 | €22,730 | €23,288 | +€558 | +2.5% |
| Furniture and vehicles | 24 | €22,730 | €23,288 | +€558 | +2.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €145,710 | €120,097 | -€25,613 | -17.6% |
| Amounts receivable within one year | 40/41 | €47,785 | €65,214 | +€17,429 | +36.5% |
| Trade receivables | 40 | €27,350 | €36,625 | +€9,275 | +33.9% |
| Other amounts receivable | 41 | €20,435 | €28,589 | +€8,154 | +39.9% |
| Cash at bank and in hand | 54/58 | €46,839 | €10,492 | -€36,347 | -77.6% |
| Deferred charges and accrued income | 490/1 | €51,086 | €44,391 | -€6,695 | -13.1% |
| Total equity and liabilities | 10/49 | €168,536 | €143,481 | -€25,055 | -14.9% |
| Equity | 10/15 | €159,035 | €131,499 | -€27,536 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €158,860 | €112,899 | -€45,961 | -28.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €158,860 | €112,899 | -€45,961 | -28.9% |
| Profit (loss) carried forward | 14 | -€18,425 | €0 | +€18,425 | |
| Amounts payable | 17/49 | €9,501 | €11,983 | +€2,481 | +26.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,501 | €11,983 | +€2,481 | +26.1% |
| Trade debts | 44 | €5,363 | €3,423 | -€1,939 | -36.2% |
| Suppliers | 440/4 | €5,363 | €3,423 | -€1,939 | -36.2% |
| Taxes, remuneration and social security | 45 | €4,139 | €8,559 | +€4,421 | +107% |
| Taxes | 450/3 | €4,139 | €5,733 | +€1,594 | +38.5% |
| Remuneration and social security | 454/9 | €0 | €2,826 | +€2,826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,133 | €8,515 | +€1,382 | +19.4% |
| Other operating charges | 640/8 | €773 | €1,661 | +€888 | +115% |
| Gross operating margin | 9900 | -€10,715 | -€18,739 | -€8,024 | -74.9% |
| Operating profit (loss) | 9901 | -€18,621 | -€28,915 | -€10,294 | -55.3% |
| Financial income | 75/76B | €491 | €1,866 | +€1,374 | +280% |
| Recurring financial income | 75 | €491 | €1,866 | +€1,374 | +280% |
| Financial charges | 65/66B | €445 | €325 | -€120 | -27.0% |
| Recurring financial charges | 65 | €445 | €325 | -€120 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,575 | -€27,375 | -€8,800 | -47.4% |
| Income taxes | 67/77 | €153 | €161 | +€8 | +5.5% |
| Profit (loss) for the period | 9904 | -€18,728 | -€27,536 | -€8,808 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,728 | -€27,536 | -€8,808 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.