VMDW SOLUTIONS: 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.
VMDW SOLUTIONS
Largest movements
- Receivables after one year -€60,000
down €60,000 (-100.0%), from €60,000 to €0
- Deferred charges and accrued income +€7,695
up €7,695 (+236.2%), from €3,258 to €10,953
- Cash -€5,492
down €5,492 (-5.8%), from €94,694 to €89,203
mainly Contributions, distributions and other (-€70,000) and Other debts (-€51,956)
- Tangible fixed assets +€4,992
up €4,992 (+55.0%), from €9,083 to €14,076
of which Other tangible fixed assets: +€4,283
- Other debts -€51,956
down €51,956 (-42.3%), from €122,735 to €70,780
- Tax, wage and social debts +€3,784
up €3,784 (+18.1%), from €20,900 to €24,684
of which Taxes: +€3,784
- Profit (loss) carried forward -€3,114
down €3,114 (-7.8%), from €39,838 to €36,724
- Gross operating margin -€1,770
down €1,770 (-1.9%), from €93,891 to €92,121
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.
Cash bridge derived
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 | €189,457 | €137,626 | -€51,830 | -27.4% |
| Fixed assets | 21/28 | €9,083 | €14,076 | +€4,992 | +55.0% |
| Tangible fixed assets | 22/27 | €9,083 | €14,076 | +€4,992 | +55.0% |
| Furniture and vehicles | 24 | €4,630 | €5,339 | +€709 | +15.3% |
| Other tangible fixed assets | 26 | €4,454 | €8,737 | +€4,283 | +96.2% |
| Current assets | 29/58 | €180,374 | €123,551 | -€56,823 | -31.5% |
| Amounts receivable after more than one year | 29 | €60,000 | €0 | -€60,000 | -100.0% |
| Other amounts receivable | 291 | €60,000 | €0 | -€60,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €22,421 | €23,395 | +€973 | +4.3% |
| Trade receivables | 40 | €22,421 | €23,269 | +€847 | +3.8% |
| Other amounts receivable | 41 | €0 | €126 | +€126 | |
| Cash at bank and in hand | 54/58 | €94,694 | €89,203 | -€5,492 | -5.8% |
| Deferred charges and accrued income | 490/1 | €3,258 | €10,953 | +€7,695 | +236.2% |
| Total equity and liabilities | 10/49 | €189,457 | €137,626 | -€51,830 | -27.4% |
| Equity | 10/15 | €43,838 | €40,724 | -€3,114 | -7.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,838 | €36,724 | -€3,114 | -7.8% |
| Amounts payable | 17/49 | €145,619 | €96,902 | -€48,716 | -33.5% |
| Amounts payable within one year | 42/48 | €145,619 | €95,702 | -€49,916 | -34.3% |
| Trade debts | 44 | €1,983 | €238 | -€1,745 | -88.0% |
| Suppliers | 440/4 | €1,983 | €238 | -€1,745 | -88.0% |
| Taxes, remuneration and social security | 45 | €20,900 | €24,684 | +€3,784 | +18.1% |
| Taxes | 450/3 | €17,900 | €21,684 | +€3,784 | +21.1% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €122,735 | €70,780 | -€51,956 | -42.3% |
| Accrued charges and deferred income | 492/3 | - | €1,200 | +€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,639 | €3,430 | -€209 | -5.7% |
| Other operating charges | 640/8 | €64 | €463 | +€399 | +625.9% |
| Gross operating margin | 9900 | €93,891 | €92,121 | -€1,770 | -1.9% |
| Operating profit (loss) | 9901 | €90,189 | €88,228 | -€1,960 | -2.2% |
| Financial income | 75/76B | €1,069 | €1,412 | +€343 | +32.1% |
| Recurring financial income | 75 | €1,069 | €1,412 | +€343 | +32.1% |
| Financial charges | 65/66B | €2,130 | €2,388 | +€258 | +12.1% |
| Recurring financial charges | 65 | €2,130 | €2,388 | +€258 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €89,127 | €87,252 | -€1,875 | -2.1% |
| Income taxes | 67/77 | €19,797 | €20,366 | +€569 | +2.9% |
| Profit (loss) for the period | 9904 | €69,330 | €66,886 | -€2,444 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €69,330 | €66,886 | -€2,444 | -3.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.