VMD INVEST: what changed
What changed
VMD INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€384,067
2024 · €634,476-€250,409
Equity
€8.6m
2024 · €8.5m+€97,811
Cash
€764,754
2024 · €691,823+€72,931
Balance sheet total
€9.4m
2024 · €9.4m-€4,920
Largest movements
Assets
- Current investments -€240,215
down €240,215 (-36.9%), from €651,407 to €411,192
- Receivables within one year +€190,602
up €190,602 (+158%), from €120,496 to €311,097
of which Other amounts receivable: +€186,483
Equity and liabilities
- Debts after one year -€100,299
down €100,299 (-23.0%), from €436,134 to €335,835
- Reserves +€97,811
up €97,811 (+1.4%), from €7.1m to €7.2m
of which Distributable reserves: +€97,811
Income statement
- Financial income -€302,359
down €302,359 (-45.1%), from €669,797 to €367,438
of which Financial income: -€308,969
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.
Result 2024
€634,476
Depreciation
+€211
Other operating charges
+€965
Other operating items
-€479
Financial income
-€302,359
Financial charges
-€14,158
Taxes
+€65,410
Result 2025
€384,067
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€186,153
Investment
+€271,943
Financing
-€385,165
Cash 2024
€691,823
From operations (derived)
+€186,153
Net result for the year
+€384,067
Depreciation
+€0
Receivables within one year
-€190,602
Deferred charges and accrued income
-€3,491
Trade debts
-€5,187
Tax, wage and social debts
-€34,421
Other debts
+€35,787
Investment (derived)
+€271,943
Investment in fixed assets (net)
+€31,728
Current investments
+€240,215
Financing
-€385,165
Debts after one year
-€100,299
Current portion of long-term debt
+€1,390
Contributions, distributions and other
-€286,256
Cash 2025
€764,754
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,411,670 | €9,406,750 | -€4,920 | -0.1% |
| Fixed assets | 21/28 | €7,946,165 | €7,914,437 | -€31,728 | -0.4% |
| Tangible fixed assets | 22/27 | €0 | - | -€0 | |
| Furniture and vehicles | 24 | €0 | - | -€0 | |
| Financial fixed assets | 28 | €7,946,165 | €7,914,437 | -€31,728 | -0.4% |
| Affiliated companies | 280/1 | €6,780,668 | €6,710,668 | -€70,000 | -1.0% |
| Participating interests | 280 | €6,710,668 | €6,710,668 | = | 0.0% |
| Amounts receivable | 281 | €70,000 | - | -€70,000 | |
| Companies linked by participating interests | 282/3 | €750,000 | €750,000 | = | 0.0% |
| Participating interests | 282 | €750,000 | €750,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €415,498 | €453,769 | +€38,272 | +9.2% |
| Shares | 284 | €137,630 | €175,902 | +€38,272 | +27.8% |
| Amounts receivable and cash guarantees | 285/8 | €277,868 | €277,868 | = | 0.0% |
| Current assets | 29/58 | €1,465,505 | €1,492,313 | +€26,808 | +1.8% |
| Amounts receivable within one year | 40/41 | €120,496 | €311,097 | +€190,602 | +158% |
| Trade receivables | 40 | €90,750 | €94,868 | +€4,118 | +4.5% |
| Other amounts receivable | 41 | €29,746 | €216,229 | +€186,483 | +627% |
| Current investments | 50/53 | €651,407 | €411,192 | -€240,215 | -36.9% |
| Other investments | 51/53 | €651,407 | €411,192 | -€240,215 | -36.9% |
| Cash at bank and in hand | 54/58 | €691,823 | €764,754 | +€72,931 | +10.5% |
| Deferred charges and accrued income | 490/1 | €1,779 | €5,270 | +€3,491 | +196% |
| Total equity and liabilities | 10/49 | €9,411,670 | €9,406,750 | -€4,920 | -0.1% |
| Equity | 10/15 | €8,549,883 | €8,647,694 | +€97,811 | +1.1% |
| Contributions | 10/11 | €1,487,500 | €1,487,500 | = | 0.0% |
| Capital | 10 | €1,487,500 | €1,487,500 | = | 0.0% |
| Issued capital | 100 | €1,487,500 | €1,487,500 | = | 0.0% |
| Reserves | 13 | €7,062,383 | €7,160,194 | +€97,811 | +1.4% |
| Non-distributable reserves | 130/1 | €588,066 | €588,066 | = | 0.0% |
| Legal reserve | 130 | €148,750 | €148,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €439,316 | €439,316 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,452 | €64,452 | = | 0.0% |
| Distributable reserves | 133 | €6,409,865 | €6,507,676 | +€97,811 | +1.5% |
| Amounts payable | 17/49 | €861,787 | €759,056 | -€102,731 | -11.9% |
| Amounts payable after more than one year | 17 | €436,134 | €335,835 | -€100,299 | -23.0% |
| Financial debts | 170/4 | €436,134 | €335,835 | -€100,299 | -23.0% |
| Credit institutions | 173 | €436,134 | €335,835 | -€100,299 | -23.0% |
| Amounts payable within one year | 42/48 | €425,653 | €423,221 | -€2,432 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €107,740 | €109,130 | +€1,390 | +1.3% |
| Trade debts | 44 | €19,011 | €13,823 | -€5,187 | -27.3% |
| Suppliers | 440/4 | €19,011 | €13,823 | -€5,187 | -27.3% |
| Taxes, remuneration and social security | 45 | €48,222 | €13,800 | -€34,421 | -71.4% |
| Taxes | 450/3 | €48,222 | €13,800 | -€34,421 | -71.4% |
| Other amounts payable | 47/48 | €250,681 | €286,468 | +€35,787 | +14.3% |
| Operating income | 70/76A | €152,044 | €158,581 | +€6,537 | +4.3% |
| Other operating income | 74 | €152,044 | €158,581 | +€6,537 | +4.3% |
| Operating charges | 60/66A | €72,252 | €78,092 | +€5,840 | +8.1% |
| Services and other goods | 61 | €70,077 | €77,093 | +€7,016 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211 | €0 | -€211 | -100.0% |
| Other operating charges | 640/8 | €1,964 | €998 | -€965 | -49.2% |
| Operating profit (loss) | 9901 | €79,792 | €80,489 | +€697 | +0.9% |
| Financial income | 75/76B | €669,797 | €367,438 | -€302,359 | -45.1% |
| Recurring financial income | 75 | €669,797 | €360,827 | -€308,969 | -46.1% |
| Income from financial fixed assets | 750 | €404,770 | €334,457 | -€70,313 | -17.4% |
| Income from current assets | 751 | €42,991 | €11,932 | -€31,059 | -72.2% |
| Other financial income | 752/9 | €222,035 | €14,438 | -€207,598 | -93.5% |
| Non-recurring financial income | 76B | - | €6,611 | +€6,611 | |
| Financial charges | 65/66B | €32,655 | €46,813 | +€14,158 | +43.4% |
| Recurring financial charges | 65 | €32,655 | €46,813 | +€14,158 | +43.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€127,326 | -€1,480 | +€125,846 | +98.8% |
| Other financial charges | 652/9 | €159,981 | €48,292 | -€111,689 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €716,934 | €401,114 | -€315,819 | -44.1% |
| Income taxes | 67/77 | €82,457 | €17,047 | -€65,410 | -79.3% |
| Taxes | 670/3 | €82,457 | €17,047 | -€65,410 | -79.3% |
| Profit (loss) for the period | 9904 | €634,476 | €384,067 | -€250,409 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €634,476 | €384,067 | -€250,409 | -39.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.