VMCT: 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.
VMCT
Largest movements
- Receivables within one year +€244,188
up €244,188 (+194.3%), from €125,685 to €369,873
of which Trade receivables: +€244,019
- Tangible fixed assets -€57,511
down €57,511 (-17.8%), from €322,761 to €265,250
of which Furniture and vehicles: -€48,583
- Other debts +€175,890
up €175,890 (+2137.7%), from €8,228 to €184,118
- Trade debts +€114,631
up €114,631 (+83.6%), from €137,046 to €251,677
- Profit (loss) carried forward -€77,754
down €77,754 (-96.9%), from €80,226 to €2,472
- Contributions -€69,000
no longer reported in 2024 (was €69,000)
- Reserves +€69,000
up €69,000 (+1000.0%), from €6,900 to €75,900
of which Tax-exempt reserves: +€75,900
- Gross operating margin -€164,707
down €164,707 (-57.2%), from €287,980 to €123,273
- Taxes -€29,852
no longer reported in 2024 (was €29,852)
- Staff costs -€29,465
down €29,465 (-21.0%), from €139,978 to €110,513
- Other operating charges +€10,705
up €10,705 (+93.4%), from €11,467 to €22,172
- Depreciation -€6,472
down €6,472 (-9.6%), from €67,096 to €60,624
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 | €518,498 | €695,811 | +€177,313 | +34.2% |
| Fixed assets | 21/28 | €328,217 | €270,706 | -€57,511 | -17.5% |
| Tangible fixed assets | 22/27 | €322,761 | €265,250 | -€57,511 | -17.8% |
| Plant, machinery and equipment | 23 | €49,119 | €48,273 | -€846 | -1.7% |
| Furniture and vehicles | 24 | €207,941 | €159,358 | -€48,583 | -23.4% |
| Other tangible fixed assets | 26 | €65,701 | €57,619 | -€8,082 | -12.3% |
| Financial fixed assets | 28 | €5,456 | €5,456 | = | 0.0% |
| Current assets | 29/58 | €190,281 | €425,105 | +€234,824 | +123.4% |
| Stocks and contracts in progress | 3 | €1,015 | €1,015 | = | 0.0% |
| Stocks | 30/36 | €1,015 | €1,015 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €125,685 | €369,873 | +€244,188 | +194.3% |
| Trade receivables | 40 | €119,151 | €363,170 | +€244,019 | +204.8% |
| Other amounts receivable | 41 | €6,534 | €6,703 | +€169 | +2.6% |
| Cash at bank and in hand | 54/58 | €51,928 | €48,281 | -€3,647 | -7.0% |
| Deferred charges and accrued income | 490/1 | €11,653 | €5,936 | -€5,717 | -49.1% |
| Total equity and liabilities | 10/49 | €518,498 | €695,811 | +€177,313 | +34.2% |
| Equity | 10/15 | €156,126 | €78,372 | -€77,754 | -49.8% |
| Contributions | 10/11 | €69,000 | - | -€69,000 | |
| Reserves | 13 | €6,900 | €75,900 | +€69,000 | +1000.0% |
| Non-distributable reserves | 130/1 | €6,900 | - | -€6,900 | |
| Other | 1319 | €6,900 | - | -€6,900 | |
| Tax-exempt reserves | 132 | - | €75,900 | +€75,900 | |
| Profit (loss) carried forward | 14 | €80,226 | €2,472 | -€77,754 | -96.9% |
| Amounts payable | 17/49 | €362,372 | €617,439 | +€255,067 | +70.4% |
| Amounts payable after more than one year | 17 | €112,163 | €74,928 | -€37,235 | -33.2% |
| Financial debts | 170/4 | €112,163 | €74,928 | -€37,235 | -33.2% |
| Amounts payable within one year | 42/48 | €250,206 | €522,511 | +€272,305 | +108.8% |
| Current portion of amounts payable after more than one year | 42 | €49,835 | €37,235 | -€12,600 | -25.3% |
| Trade debts | 44 | €137,046 | €251,677 | +€114,631 | +83.6% |
| Suppliers | 440/4 | €137,046 | €251,677 | +€114,631 | +83.6% |
| Advances received on contracts in progress | 46 | €10,234 | €21,954 | +€11,720 | +114.5% |
| Taxes, remuneration and social security | 45 | €44,863 | €27,527 | -€17,336 | -38.6% |
| Taxes | 450/3 | €39,346 | €16,972 | -€22,374 | -56.9% |
| Remuneration and social security | 454/9 | €5,517 | €10,555 | +€5,038 | +91.3% |
| Other amounts payable | 47/48 | €8,228 | €184,118 | +€175,890 | +2137.7% |
| Accrued charges and deferred income | 492/3 | €3 | €20,000 | +€19,997 | +666566.7% |
| Remuneration, social security and pensions | 62 | €139,978 | €110,513 | -€29,465 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,096 | €60,624 | -€6,472 | -9.6% |
| Other operating charges | 640/8 | €11,467 | €22,172 | +€10,705 | +93.4% |
| Gross operating margin | 9900 | €287,980 | €123,273 | -€164,707 | -57.2% |
| Operating profit (loss) | 9901 | €69,439 | -€70,036 | -€139,475 | |
| Financial income | 75/76B | €2 | €70 | +€68 | +3400.0% |
| Recurring financial income | 75 | €2 | €70 | +€68 | +3400.0% |
| Financial charges | 65/66B | €9,386 | €7,789 | -€1,597 | -17.0% |
| Recurring financial charges | 65 | €9,386 | €7,766 | -€1,620 | -17.3% |
| Non-recurring financial charges | 66B | - | €23 | +€23 | |
| Profit (loss) for the period before taxes | 9903 | €60,055 | -€77,755 | -€137,810 | |
| Income taxes | 67/77 | €29,852 | - | -€29,852 | |
| Profit (loss) for the period | 9904 | €30,203 | -€77,755 | -€107,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,203 | -€77,755 | -€107,958 |
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 29 September 2026 via checked.be.