VMB-intl: 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.
VMB-intl
Largest movements
- Receivables within one year +€230,241
up €230,241 (+10.5%), from €2.2m to €2.4m
of which Other amounts receivable: +€213,723
- Cash +€172,852
up €172,852 (+91.1%), from €189,734 to €362,586
mainly Net result for the year (+€543,966) and Depreciation (+€45,014)
- Reserves +€543,966
up €543,966 (+9.9%), from €5.5m to €6.1m
- Financial income +€218,000
up €218,000 (+85.2%), from €256,000 to €474,000
- Gross operating margin -€43,126
down €43,126 (-11.7%), from €367,960 to €324,834
- Financial charges -€22,880
down €22,880 (-13.9%), from €164,585 to €141,706
- Taxes -€13,879
down €13,879 (-35.6%), from €39,016 to €25,137
- Other operating charges -€7,092
down €7,092 (-85.5%), from €8,298 to €1,206
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.
Derived cash bridge
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 | €7,675,699 | €8,146,143 | +€470,444 | +6.1% |
| Fixed assets | 21/28 | €5,290,813 | €5,358,811 | +€67,998 | +1.3% |
| Tangible fixed assets | 22/27 | €375,908 | €443,906 | +€67,998 | +18.1% |
| Furniture and vehicles | 24 | €371,095 | €439,746 | +€68,651 | +18.5% |
| Other tangible fixed assets | 26 | €4,813 | €4,160 | -€653 | -13.6% |
| Financial fixed assets | 28 | €4,914,905 | €4,914,905 | = | 0.0% |
| Current assets | 29/58 | €2,384,886 | €2,787,332 | +€402,446 | +16.9% |
| Amounts receivable within one year | 40/41 | €2,194,477 | €2,424,718 | +€230,241 | +10.5% |
| Trade receivables | 40 | €50,274 | €66,792 | +€16,518 | +32.9% |
| Other amounts receivable | 41 | €2,144,203 | €2,357,926 | +€213,723 | +10.0% |
| Cash at bank and in hand | 54/58 | €189,734 | €362,586 | +€172,852 | +91.1% |
| Deferred charges and accrued income | 490/1 | €675 | €28 | -€647 | -95.9% |
| Total equity and liabilities | 10/49 | €7,675,699 | €8,146,143 | +€470,444 | +6.1% |
| Equity | 10/15 | €5,530,391 | €6,074,356 | +€543,966 | +9.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,510,391 | €6,054,356 | +€543,966 | +9.9% |
| Distributable reserves | 133 | €5,510,391 | €6,054,356 | +€543,966 | +9.9% |
| Amounts payable | 17/49 | €2,145,309 | €2,071,786 | -€73,522 | -3.4% |
| Amounts payable within one year | 42/48 | €2,145,309 | €2,071,786 | -€73,522 | -3.4% |
| Trade debts | 44 | €496 | €4,908 | +€4,413 | +890% |
| Suppliers | 440/4 | €496 | €4,908 | +€4,413 | +890% |
| Taxes, remuneration and social security | 45 | €81,694 | €72,696 | -€8,998 | -11.0% |
| Taxes | 450/3 | €81,694 | €72,696 | -€8,998 | -11.0% |
| Other amounts payable | 47/48 | €2,063,119 | €1,994,182 | -€68,936 | -3.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,337 | €45,014 | -€1,323 | -2.9% |
| Other operating charges | 640/8 | €8,298 | €1,206 | -€7,092 | -85.5% |
| Non-recurring operating charges | 66A | €0 | €41,805 | +€41,805 | |
| Gross operating margin | 9900 | €367,960 | €324,834 | -€43,126 | -11.7% |
| Operating profit (loss) | 9901 | €313,326 | €236,808 | -€76,517 | -24.4% |
| Financial income | 75/76B | €256,000 | €474,000 | +€218,000 | +85.2% |
| Recurring financial income | 75 | €256,000 | €474,000 | +€218,000 | +85.2% |
| Financial charges | 65/66B | €164,585 | €141,706 | -€22,880 | -13.9% |
| Recurring financial charges | 65 | €164,585 | €141,706 | -€22,880 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €404,740 | €569,102 | +€164,362 | +40.6% |
| Income taxes | 67/77 | €39,016 | €25,137 | -€13,879 | -35.6% |
| Profit (loss) for the period | 9904 | €365,724 | €543,966 | +€178,242 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €365,724 | €543,966 | +€178,242 | +48.7% |
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 16 October 2026 via checked.be.