VMA EXPRESS: 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.
VMA EXPRESS
Largest movements
- Tangible fixed assets +€82,587
up €82,587 (+583.6%), from €14,152 to €96,739
of which Furniture and vehicles: +€72,051
- Receivables within one year -€76,083
down €76,083 (-25.2%), from €302,425 to €226,342
of which Trade receivables: -€80,392
- Deferred charges and accrued income -€8,495
down €8,495 (-23.0%), from €36,873 to €28,378
- Cash -€3,909
down €3,909 (-25.2%), from €15,509 to €11,600
mainly Investment in fixed assets (net) (-€91,847) and Trade debts (-€36,696)
- Tax, wage and social debts +€62,148
up €62,148 (+55.3%), from €112,412 to €174,559
of which Remuneration and social security: +€65,372
- Trade debts -€36,696
down €36,696 (-31.1%), from €117,941 to €81,245
- Profit (loss) carried forward -€28,902
down €28,902, from €3,319 to -€25,584
- Staff costs +€204,291
up €204,291 (+51.4%), from €397,164 to €601,456
- Gross operating margin +€130,301
up €130,301 (+28.4%), from €459,194 to €589,494
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.
Cash bridge derived
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 | €370,831 | €367,381 | -€3,450 | -0.9% |
| Fixed assets | 21/28 | €16,024 | €101,061 | +€85,037 | +530.7% |
| Tangible fixed assets | 22/27 | €14,152 | €96,739 | +€82,587 | +583.6% |
| Plant, machinery and equipment | 23 | €148 | €631 | +€483 | +327.3% |
| Furniture and vehicles | 24 | €8,604 | €80,654 | +€72,051 | +837.5% |
| Other tangible fixed assets | 26 | €5,401 | €15,454 | +€10,053 | +186.1% |
| Financial fixed assets | 28 | €1,872 | €4,322 | +€2,450 | +130.9% |
| Current assets | 29/58 | €354,808 | €266,320 | -€88,487 | -24.9% |
| Amounts receivable within one year | 40/41 | €302,425 | €226,342 | -€76,083 | -25.2% |
| Trade receivables | 40 | €292,166 | €211,774 | -€80,392 | -27.5% |
| Other amounts receivable | 41 | €10,259 | €14,568 | +€4,309 | +42.0% |
| Cash at bank and in hand | 54/58 | €15,509 | €11,600 | -€3,909 | -25.2% |
| Deferred charges and accrued income | 490/1 | €36,873 | €28,378 | -€8,495 | -23.0% |
| Total equity and liabilities | 10/49 | €370,831 | €367,381 | -€3,450 | -0.9% |
| Equity | 10/15 | €140,479 | €111,576 | -€28,902 | -20.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,560 | €118,560 | = | 0.0% |
| Distributable reserves | 133 | €118,560 | €118,560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,319 | -€25,584 | -€28,902 | |
| Amounts payable | 17/49 | €230,353 | €255,805 | +€25,452 | +11.0% |
| Amounts payable within one year | 42/48 | €230,353 | €255,805 | +€25,452 | +11.0% |
| Trade debts | 44 | €117,941 | €81,245 | -€36,696 | -31.1% |
| Suppliers | 440/4 | €117,941 | €81,245 | -€36,696 | -31.1% |
| Taxes, remuneration and social security | 45 | €112,412 | €174,559 | +€62,148 | +55.3% |
| Taxes | 450/3 | €48,057 | €44,833 | -€3,224 | -6.7% |
| Remuneration and social security | 454/9 | €64,354 | €129,727 | +€65,372 | +101.6% |
| Remuneration, social security and pensions | 62 | €397,164 | €601,456 | +€204,291 | +51.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,448 | €6,810 | +€3,362 | +97.5% |
| Other operating charges | 640/8 | €2,585 | €5,778 | +€3,192 | +123.5% |
| Gross operating margin | 9900 | €459,194 | €589,494 | +€130,301 | +28.4% |
| Operating profit (loss) | 9901 | €55,996 | -€24,549 | -€80,545 | |
| Financial income | 75/76B | €428 | €903 | +€476 | +111.2% |
| Recurring financial income | 75 | €428 | €903 | +€476 | +111.2% |
| Financial charges | 65/66B | €2,820 | €4,744 | +€1,924 | +68.2% |
| Recurring financial charges | 65 | €2,820 | €4,744 | +€1,924 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | €53,604 | -€28,390 | -€81,994 | |
| Income taxes | 67/77 | €5,882 | €512 | -€5,369 | -91.3% |
| Profit (loss) for the period | 9904 | €47,722 | -€28,902 | -€76,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,722 | -€28,902 | -€76,625 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.