VM Worx: what changed
VM Worx
Largest movements
- Stocks and contracts +€14,036
up €14,036 (+107%), from €13,117 to €27,153
- Receivables within one year +€3,519
up €3,519 (+51.9%), from €6,785 to €10,305
of which Trade receivables: +€5,195
- Cash +€3,177
up €3,177 (+76.4%), from €4,158 to €7,335
mainly Net result for the year (+€41,379) and Other debts (+€4,684)
- Tangible fixed assets -€1,748
down €1,748 (-25.8%), from €6,769 to €5,021
of which Plant, machinery and equipment: -€1,456
- Profit (loss) carried forward +€41,379
up €41,379, from -€35,260 to €6,119
- Trade debts -€11,689
down €11,689 (-81.2%), from €14,397 to €2,708
- Tax, wage and social debts -€11,641
down €11,641 (-54.9%), from €21,193 to €9,552
of which Remuneration and social security: -€7,337
- Other debts +€4,684
up €4,684 (+58.6%), from €8,000 to €12,684
- Short-term financial debts -€3,750
no longer reported in 2025 (was €3,750)
- Staff costs -€32,549
down €32,549 (-99.1%), from €32,847 to €298
- Gross operating margin +€9,756
up €9,756 (+25.1%), from €38,837 to €48,593
- Financial charges -€4,914
down €4,914 (-78.3%), from €6,273 to €1,360
- Taxes +€1,926
new in 2025: €1,926
- Other operating charges +€1,097
up €1,097 (+331%), from €331 to €1,428
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,255 | €51,238 | +€18,983 | +58.9% |
| Fixed assets | 21/28 | €8,194 | €6,446 | -€1,748 | -21.3% |
| Tangible fixed assets | 22/27 | €6,769 | €5,021 | -€1,748 | -25.8% |
| Plant, machinery and equipment | 23 | €6,088 | €4,633 | -€1,456 | -23.9% |
| Furniture and vehicles | 24 | €681 | €388 | -€293 | -43.0% |
| Financial fixed assets | 28 | €1,425 | €1,425 | = | 0.0% |
| Current assets | 29/58 | €24,061 | €44,793 | +€20,732 | +86.2% |
| Stocks and contracts in progress | 3 | €13,117 | €27,153 | +€14,036 | +107% |
| Stocks | 30/36 | €13,117 | €27,153 | +€14,036 | +107% |
| Amounts receivable within one year | 40/41 | €6,785 | €10,305 | +€3,519 | +51.9% |
| Trade receivables | 40 | €5,110 | €10,305 | +€5,195 | +102% |
| Other amounts receivable | 41 | €1,676 | - | -€1,676 | |
| Cash at bank and in hand | 54/58 | €4,158 | €7,335 | +€3,177 | +76.4% |
| Total equity and liabilities | 10/49 | €32,255 | €51,238 | +€18,983 | +58.9% |
| Equity | 10/15 | -€15,260 | €26,119 | +€41,379 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,260 | €6,119 | +€41,379 | |
| Amounts payable | 17/49 | €47,515 | €25,120 | -€22,395 | -47.1% |
| Amounts payable within one year | 42/48 | €47,515 | €25,120 | -€22,395 | -47.1% |
| Financial debts | 43 | €3,750 | - | -€3,750 | |
| Other loans | 439 | €3,750 | - | -€3,750 | |
| Trade debts | 44 | €14,397 | €2,708 | -€11,689 | -81.2% |
| Suppliers | 440/4 | €14,397 | €2,708 | -€11,689 | -81.2% |
| Advances received on contracts in progress | 46 | €175 | €175 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,193 | €9,552 | -€11,641 | -54.9% |
| Taxes | 450/3 | €12,956 | €8,652 | -€4,304 | -33.2% |
| Remuneration and social security | 454/9 | €8,237 | €900 | -€7,337 | -89.1% |
| Other amounts payable | 47/48 | €8,000 | €12,684 | +€4,684 | +58.6% |
| Remuneration, social security and pensions | 62 | €32,847 | €298 | -€32,549 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,067 | €2,202 | +€135 | +6.5% |
| Other operating charges | 640/8 | €331 | €1,428 | +€1,097 | +331% |
| Gross operating margin | 9900 | €38,837 | €48,593 | +€9,756 | +25.1% |
| Operating profit (loss) | 9901 | €3,592 | €44,664 | +€41,072 | +1,143% |
| Financial income | 75/76B | €2 | €0 | -€1 | -94.7% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -94.7% |
| Financial charges | 65/66B | €6,273 | €1,360 | -€4,914 | -78.3% |
| Recurring financial charges | 65 | €6,273 | €1,360 | -€4,914 | -78.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,680 | €43,305 | +€45,985 | |
| Income taxes | 67/77 | - | €1,926 | +€1,926 | |
| Profit (loss) for the period | 9904 | -€2,680 | €41,379 | +€44,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,680 | €41,379 | +€44,059 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.