VM TECH & SERVICES: 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 TECH & SERVICES
Largest movements
- Receivables within one year +€132,293
up €132,293 (+76.5%), from €173,039 to €305,332
of which Trade receivables: +€158,295
- Cash +€113,452
up €113,452 (+25.0%), from €453,581 to €567,032
mainly Trade debts (+€112,227) and Net result for the year (+€70,140)
- Trade debts +€112,227
up €112,227 (+97.6%), from €114,964 to €227,191
- Profit (loss) carried forward +€70,140
up €70,140 (+23.8%), from €295,057 to €365,197
- Tax, wage and social debts +€64,696
up €64,696 (+48.9%), from €132,428 to €197,125
of which Remuneration and social security: +€48,311
- Turnover +€352,613
up €352,613 (+149.4%), from €236,015 to €588,628
- Purchases and services +€257,195
up €257,195 (+112.6%), from €228,445 to €485,640
- Gross operating margin +€95,418
up €95,418 (+1260.4%), from €7,570 to €102,988
- Taxes +€28,733
up €28,733 (+5766.1%), from €498 to €29,232
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 | €630,537 | €877,262 | +€246,725 | +39.1% |
| Fixed assets | 21/28 | €3,917 | €4,898 | +€981 | +25.0% |
| Tangible fixed assets | 22/27 | €3,917 | €4,898 | +€981 | +25.0% |
| Furniture and vehicles | 24 | €3,917 | €4,898 | +€981 | +25.0% |
| Current assets | 29/58 | €626,620 | €872,364 | +€245,744 | +39.2% |
| Amounts receivable within one year | 40/41 | €173,039 | €305,332 | +€132,293 | +76.5% |
| Trade receivables | 40 | €147,036 | €305,332 | +€158,295 | +107.7% |
| Other amounts receivable | 41 | €26,003 | - | -€26,003 | |
| Cash at bank and in hand | 54/58 | €453,581 | €567,032 | +€113,452 | +25.0% |
| Total equity and liabilities | 10/49 | €630,537 | €877,262 | +€246,725 | +39.1% |
| Equity | 10/15 | €335,960 | €406,100 | +€70,140 | +20.9% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Capital | 10 | €37,184 | - | -€37,184 | |
| Issued capital | 100 | €37,184 | - | -€37,184 | |
| Reserves | 13 | €3,718 | €3,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Legal reserve | 130 | €3,718 | - | -€3,718 | |
| Reserves not available under the articles | 1311 | - | €3,718 | +€3,718 | |
| Profit (loss) carried forward | 14 | €295,057 | €365,197 | +€70,140 | +23.8% |
| Amounts payable | 17/49 | €294,577 | €471,162 | +€176,585 | +59.9% |
| Amounts payable within one year | 42/48 | €294,577 | €471,162 | +€176,585 | +59.9% |
| Trade debts | 44 | €114,964 | €227,191 | +€112,227 | +97.6% |
| Suppliers | 440/4 | €114,964 | €227,191 | +€112,227 | +97.6% |
| Taxes, remuneration and social security | 45 | €132,428 | €197,125 | +€64,696 | +48.9% |
| Taxes | 450/3 | €20,000 | €36,385 | +€16,385 | +81.9% |
| Remuneration and social security | 454/9 | €112,428 | €160,740 | +€48,311 | +43.0% |
| Other amounts payable | 47/48 | €47,185 | €46,847 | -€338 | -0.7% |
| Turnover | 70 | €236,015 | €588,628 | +€352,613 | +149.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €228,445 | €485,640 | +€257,195 | +112.6% |
| Remuneration, social security and pensions | 62 | €54 | - | -€54 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €773 | €1,781 | +€1,008 | +130.5% |
| Other operating charges | 640/8 | €3,044 | €1,332 | -€1,713 | -56.3% |
| Gross operating margin | 9900 | €7,570 | €102,988 | +€95,418 | +1260.4% |
| Operating profit (loss) | 9901 | €3,699 | €99,875 | +€96,176 | +2599.9% |
| Financial income | 75/76B | €7 | €1 | -€6 | -91.4% |
| Recurring financial income | 75 | €7 | €1 | -€6 | -91.4% |
| Financial charges | 65/66B | €416 | €504 | +€88 | +21.1% |
| Recurring financial charges | 65 | €416 | €504 | +€88 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €3,290 | €99,372 | +€96,082 | +2920.7% |
| Income taxes | 67/77 | €498 | €29,232 | +€28,733 | +5766.1% |
| Profit (loss) for the period | 9904 | €2,791 | €70,140 | +€67,349 | +2412.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,791 | €70,140 | +€67,349 | +2412.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.