VMA.DK: 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.
VMA.DK
Largest movements
- Cash -€72,431
down €72,431 (-96.3%), from €75,232 to €2,801
mainly Receivables within one year (-€55,097) and Current investments (-€48,000)
- Receivables within one year +€55,097
up €55,097 (+84.7%), from €65,046 to €120,143
of which Trade receivables: +€44,337
- Current investments +€48,000
up €48,000 (+46.4%), from €103,500 to €151,500
- Tangible fixed assets +€10,489
up €10,489 (+824.6%), from €1,272 to €11,760
- Financial fixed assets +€6,944
up €6,944 (+10.5%), from €66,030 to €72,974
- Profit (loss) carried forward +€19,144
up €19,144 (+44.3%), from €43,250 to €62,394
- Tax, wage and social debts +€14,054
up €14,054 (+113.2%), from €12,409 to €26,463
of which Remuneration and social security: +€7,316
- Trade debts +€6,750
up €6,750 (+9.2%), from €73,275 to €80,025
- Turnover +€59,509
up €59,509 (+11.3%), from €527,222 to €586,730
- Services and other goods +€28,869
up €28,869 (+11.6%), from €249,733 to €278,602
- Goods and materials +€24,000
up €24,000 (+10.0%), from €240,566 to €264,566
of which Purchases: +€30,715
- Other operating income -€19,026
down €19,026 (-42.4%), from €44,907 to €25,881
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 | €456,506 | €496,531 | +€40,024 | +8.8% |
| Fixed assets | 21/28 | €82,895 | €95,678 | +€12,782 | +15.4% |
| Intangible fixed assets | 21 | €15,593 | €10,943 | -€4,650 | -29.8% |
| Tangible fixed assets | 22/27 | €1,272 | €11,760 | +€10,489 | +824.6% |
| Plant, machinery and equipment | 23 | €1,272 | €11,760 | +€10,489 | +824.6% |
| Financial fixed assets | 28 | €66,030 | €72,974 | +€6,944 | +10.5% |
| Other financial fixed assets | 284/8 | €66,030 | €72,974 | +€6,944 | +10.5% |
| Shares | 284 | €66,030 | €72,974 | +€6,944 | +10.5% |
| Current assets | 29/58 | €373,611 | €400,853 | +€27,242 | +7.3% |
| Stocks and contracts in progress | 3 | €126,750 | €121,680 | -€5,070 | -4.0% |
| Stocks | 30/36 | €126,750 | €121,680 | -€5,070 | -4.0% |
| Raw materials and consumables | 30/31 | €126,750 | €121,680 | -€5,070 | -4.0% |
| Amounts receivable within one year | 40/41 | €65,046 | €120,143 | +€55,097 | +84.7% |
| Trade receivables | 40 | €65,046 | €109,382 | +€44,337 | +68.2% |
| Other amounts receivable | 41 | - | €10,760 | +€10,760 | |
| Current investments | 50/53 | €103,500 | €151,500 | +€48,000 | +46.4% |
| Other investments | 51/53 | €103,500 | €151,500 | +€48,000 | +46.4% |
| Cash at bank and in hand | 54/58 | €75,232 | €2,801 | -€72,431 | -96.3% |
| Deferred charges and accrued income | 490/1 | €3,083 | €4,730 | +€1,646 | +53.4% |
| Total equity and liabilities | 10/49 | €456,506 | €496,531 | +€40,024 | +8.8% |
| Equity | 10/15 | €368,386 | €387,530 | +€19,144 | +5.2% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Reserves | 13 | €135 | €135 | = | 0.0% |
| Distributable reserves | 133 | €135 | €135 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,250 | €62,394 | +€19,144 | +44.3% |
| Amounts payable | 17/49 | €88,121 | €109,001 | +€20,880 | +23.7% |
| Amounts payable within one year | 42/48 | €85,685 | €106,488 | +€20,803 | +24.3% |
| Trade debts | 44 | €73,275 | €80,025 | +€6,750 | +9.2% |
| Suppliers | 440/4 | €73,275 | €80,025 | +€6,750 | +9.2% |
| Taxes, remuneration and social security | 45 | €12,409 | €26,463 | +€14,054 | +113.2% |
| Taxes | 450/3 | €4,959 | €11,696 | +€6,738 | +135.9% |
| Remuneration and social security | 454/9 | €7,451 | €14,767 | +€7,316 | +98.2% |
| Accrued charges and deferred income | 492/3 | €2,436 | €2,513 | +€77 | +3.2% |
| Operating income | 70/76A | €572,129 | €636,611 | +€64,482 | +11.3% |
| Turnover | 70 | €527,222 | €586,730 | +€59,509 | +11.3% |
| Other operating income | 74 | €44,907 | €25,881 | -€19,026 | -42.4% |
| Non-recurring operating income | 76A | - | €24,000 | +€24,000 | |
| Operating charges | 60/66A | €554,076 | €613,250 | +€59,174 | +10.7% |
| Goods for resale, raw materials and consumables | 60 | €240,566 | €264,566 | +€24,000 | +10.0% |
| Purchases | 600/8 | €228,781 | €259,496 | +€30,715 | +13.4% |
| Change in stocks: decrease (increase) | 609 | €11,785 | €5,070 | -€6,715 | -57.0% |
| Services and other goods | 61 | €249,733 | €278,602 | +€28,869 | +11.6% |
| Remuneration, social security and pensions | 62 | €52,925 | €54,798 | +€1,873 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,257 | €7,411 | -€845 | -10.2% |
| Other operating charges | 640/8 | €2,596 | €7,873 | +€5,277 | +203.3% |
| Operating profit (loss) | 9901 | €18,053 | €23,361 | +€5,308 | +29.4% |
| Financial income | 75/76B | €3,518 | €2,939 | -€579 | -16.5% |
| Recurring financial income | 75 | €3,518 | €2,939 | -€579 | -16.5% |
| Income from financial fixed assets | 750 | - | €2,916 | +€2,916 | |
| Other financial income | 752/9 | €3,518 | €23 | -€3,496 | -99.4% |
| Financial charges | 65/66B | €192 | €267 | +€75 | +39.0% |
| Recurring financial charges | 65 | €192 | €267 | +€75 | +39.0% |
| Debt charges | 650 | - | €267 | +€267 | |
| Other financial charges | 652/9 | €192 | €0 | -€192 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €21,379 | €26,032 | +€4,654 | +21.8% |
| Income taxes | 67/77 | €5,731 | €6,888 | +€1,158 | +20.2% |
| Taxes | 670/3 | €5,731 | €6,888 | +€1,158 | +20.2% |
| Profit (loss) for the period | 9904 | €15,648 | €19,144 | +€3,496 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,648 | €19,144 | +€3,496 | +22.3% |
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 10 October 2026 via checked.be.