VMD - Viaene Manuel: 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.
VMD - Viaene Manuel
Largest movements
- Receivables within one year +€4,648
up €4,648 (+1,036%), from €449 to €5,097
of which Trade receivables: +€4,738
- Tangible fixed assets -€3,611
down €3,611 (-35.7%), from €10,124 to €6,512
of which Furniture and vehicles: -€3,450
- Current portion of long-term debt -€3,519
down €3,519 (-100%), from €3,519 to €0
- Profit (loss) carried forward +€2,766
up €2,766 (+40.9%), from -€6,762 to -€3,996
- Other debts +€945
new in 2025: €945
- Tax, wage and social debts +€846
up €846 (+553%), from €153 to €998
of which Taxes: +€846
- Gross operating margin +€5,609
up €5,609 (+250%), from €2,246 to €7,855
- Depreciation -€731
down €731 (-16.8%), from €4,342 to €3,611
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 | €14,644 | €15,716 | +€1,073 | +7.3% |
| Fixed assets | 21/28 | €10,124 | €6,512 | -€3,611 | -35.7% |
| Tangible fixed assets | 22/27 | €10,124 | €6,512 | -€3,611 | -35.7% |
| Plant, machinery and equipment | 23 | €161 | €0 | -€161 | -100% |
| Furniture and vehicles | 24 | €9,962 | €6,512 | -€3,450 | -34.6% |
| Current assets | 29/58 | €4,520 | €9,204 | +€4,684 | +104% |
| Stocks and contracts in progress | 3 | €100 | €100 | = | 0.0% |
| Stocks | 30/36 | €100 | €100 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €449 | €5,097 | +€4,648 | +1,036% |
| Trade receivables | 40 | €359 | €5,097 | +€4,738 | +1,320% |
| Other amounts receivable | 41 | €90 | €0 | -€90 | -100% |
| Cash at bank and in hand | 54/58 | €3,670 | €3,665 | -€5 | -0.1% |
| Deferred charges and accrued income | 490/1 | €301 | €342 | +€41 | +13.6% |
| Total equity and liabilities | 10/49 | €14,644 | €15,716 | +€1,073 | +7.3% |
| Equity | 10/15 | €10,972 | €13,738 | +€2,766 | +25.2% |
| Contributions | 10/11 | €8,750 | €8,750 | = | 0.0% |
| Reserves | 13 | €8,984 | €8,984 | = | 0.0% |
| Distributable reserves | 133 | €8,984 | €8,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,762 | -€3,996 | +€2,766 | +40.9% |
| Amounts payable | 17/49 | €3,672 | €1,978 | -€1,694 | -46.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,672 | €1,978 | -€1,694 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €3,519 | €0 | -€3,519 | -100% |
| Trade debts | 44 | €0 | €35 | +€35 | |
| Suppliers | 440/4 | €0 | €35 | +€35 | |
| Taxes, remuneration and social security | 45 | €153 | €998 | +€846 | +553% |
| Taxes | 450/3 | €153 | €998 | +€846 | +553% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €945 | +€945 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,342 | €3,611 | -€731 | -16.8% |
| Other operating charges | 640/8 | €772 | €791 | +€19 | +2.5% |
| Gross operating margin | 9900 | €2,246 | €7,855 | +€5,609 | +250% |
| Operating profit (loss) | 9901 | -€2,868 | €3,453 | +€6,321 | |
| Financial charges | 65/66B | €701 | €687 | -€14 | -2.0% |
| Recurring financial charges | 65 | €701 | €687 | -€14 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,568 | €2,766 | +€6,334 | |
| Profit (loss) for the period | 9904 | -€3,568 | €2,766 | +€6,334 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,568 | €2,766 | +€6,334 |
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 30 October 2026 via checked.be.