VMF: what changed
What changed
VMF
NACE 93.199, Other sports activities
filed annual accounts (NBB)
Net result for the year
€112,131
2024 · -€30,030+€142,161
Equity
€1.1m
2024 · €939,422+€112,131
Cash
€10,132
2024 · €32,661-€22,528
Balance sheet total
€4.2m
2024 · €4.0m+€162,191
Largest movements
Assets
- Tangible fixed assets +€292,191
up €292,191 (+58.5%), from €499,455 to €791,645
of which Other tangible fixed assets: +€344,716
- Receivables within one year -€105,076
down €105,076 (-69.0%), from €152,357 to €47,281
of which Other amounts receivable: -€130,500
Equity and liabilities
- Other debts -€999,702
down €999,702 (-48.7%), from €2.1m to €1.1m
- Debts after one year +€970,403
up €970,403 (+110%), from €880,790 to €1.9m
of which Other amounts payable: +€717,000
- Profit (loss) carried forward +€112,131
up €112,131 (+31.0%), from -€361,782 to -€249,650
- Trade debts +€62,394
up €62,394 (+885%), from €7,052 to €69,447
Income statement
- Financial charges -€140,945
down €140,945 (-94.6%), from €149,068 to €8,123
of which Non-recurring financial charges: -€144,714
- Gross operating margin +€61,200
up €61,200 (+49.1%), from €124,761 to €185,961
- Financial income -€56,731
down €56,731 (-89.0%), from €63,761 to €7,030
- Provisions +€15,287
no longer reported in 2025 (was -€15,287)
- Depreciation -€7,439
down €7,439 (-9.4%), from €78,791 to €71,352
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
-€30,030
Gross operating margin
+€61,200
Staff costs
+€176
Depreciation
+€7,439
Provisions
-€15,287
Other operating charges
+€3,319
Other operating items
+€1,100
Financial income
-€56,731
Financial charges
+€140,945
Result 2025
€112,131
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
-€653,513
Investment
-€361,602
Financing
+€992,587
Cash 2024
€32,661
From operations (derived)
-€653,513
Net result for the year
+€112,131
Depreciation
+€71,352
Receivables within one year
+€105,076
Smaller working-capital items
+€21
Trade debts
+€62,394
Tax, wage and social debts
-€4,785
Other debts
-€999,702
Investment (derived)
-€361,602
Investment in fixed assets (net)
-€361,602
Financing
+€992,587
Debts after one year
+€970,403
Current portion of long-term debt
+€22,184
Cash 2025
€10,132
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,027,673 | €4,189,864 | +€162,191 | +4.0% |
| Fixed assets | 21/28 | €3,842,200 | €4,132,450 | +€290,250 | +7.6% |
| Intangible fixed assets | 21 | €2,949 | €1,009 | -€1,941 | -65.8% |
| Tangible fixed assets | 22/27 | €499,455 | €791,645 | +€292,191 | +58.5% |
| Land and buildings | 22 | €313,362 | €309,819 | -€3,542 | -1.1% |
| Plant, machinery and equipment | 23 | €4,619 | €6,171 | +€1,552 | +33.6% |
| Furniture and vehicles | 24 | €69,118 | €18,583 | -€50,535 | -73.1% |
| Other tangible fixed assets | 26 | €112,356 | €457,072 | +€344,716 | +307% |
| Financial fixed assets | 28 | €3,339,796 | €3,339,796 | = | 0.0% |
| Current assets | 29/58 | €185,473 | €57,414 | -€128,059 | -69.0% |
| Amounts receivable within one year | 40/41 | €152,357 | €47,281 | -€105,076 | -69.0% |
| Trade receivables | 40 | €2,729 | €28,153 | +€25,424 | +932% |
| Other amounts receivable | 41 | €149,629 | €19,129 | -€130,500 | -87.2% |
| Cash at bank and in hand | 54/58 | €32,661 | €10,132 | -€22,528 | -69.0% |
| Deferred charges and accrued income | 490/1 | €455 | - | -€455 | |
| Total equity and liabilities | 10/49 | €4,027,673 | €4,189,864 | +€162,191 | +4.0% |
| Equity | 10/15 | €939,422 | €1,051,553 | +€112,131 | +11.9% |
| Contributions | 10/11 | €878,910 | €878,910 | = | 0.0% |
| Capital | 10 | €878,910 | €878,910 | = | 0.0% |
| Issued capital | 100 | €878,910 | €878,910 | = | 0.0% |
| Reserves | 13 | €422,294 | €422,294 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,626 | €14,626 | = | 0.0% |
| Legal reserve | 130 | €12,890 | €12,890 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,735 | €1,735 | = | 0.0% |
| Tax-exempt reserves | 132 | €403,252 | €403,252 | = | 0.0% |
| Distributable reserves | 133 | €4,416 | €4,416 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€361,782 | -€249,650 | +€112,131 | +31.0% |
| Provisions and deferred taxes | 16 | €120,661 | €120,661 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €120,661 | €120,661 | = | 0.0% |
| Major repairs and maintenance | 162 | €120,661 | €120,661 | = | 0.0% |
| Amounts payable | 17/49 | €2,967,590 | €3,017,650 | +€50,059 | +1.7% |
| Amounts payable after more than one year | 17 | €880,790 | €1,851,193 | +€970,403 | +110% |
| Financial debts | 170/4 | €14,789 | €268,192 | +€253,403 | +1,713% |
| Other amounts payable | 178/9 | €866,001 | €1,583,001 | +€717,000 | +82.8% |
| Amounts payable within one year | 42/48 | €2,082,754 | €1,162,844 | -€919,910 | -44.2% |
| Current portion of amounts payable after more than one year | 42 | €16,347 | €38,531 | +€22,184 | +136% |
| Trade debts | 44 | €7,052 | €69,447 | +€62,394 | +885% |
| Suppliers | 440/4 | €7,052 | €69,447 | +€62,394 | +885% |
| Taxes, remuneration and social security | 45 | €5,844 | €1,058 | -€4,785 | -81.9% |
| Taxes | 450/3 | €5,844 | €1,058 | -€4,785 | -81.9% |
| Other amounts payable | 47/48 | €2,053,511 | €1,053,808 | -€999,702 | -48.7% |
| Accrued charges and deferred income | 492/3 | €4,046 | €3,612 | -€434 | -10.7% |
| Non-recurring operating income | 76A | - | €15,335 | +€15,335 | |
| Remuneration, social security and pensions | 62 | €176 | - | -€176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,791 | €71,352 | -€7,439 | -9.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,287 | - | +€15,287 | |
| Other operating charges | 640/8 | €4,704 | €1,385 | -€3,319 | -70.5% |
| Non-recurring operating charges | 66A | €1,100 | - | -€1,100 | |
| Gross operating margin | 9900 | €124,761 | €185,961 | +€61,200 | +49.1% |
| Operating profit (loss) | 9901 | €55,277 | €113,224 | +€57,947 | +105% |
| Financial income | 75/76B | €63,761 | €7,030 | -€56,731 | -89.0% |
| Recurring financial income | 75 | €63,761 | €7,030 | -€56,731 | -89.0% |
| Financial charges | 65/66B | €149,068 | €8,123 | -€140,945 | -94.6% |
| Recurring financial charges | 65 | €4,353 | €8,123 | +€3,770 | +86.6% |
| Non-recurring financial charges | 66B | €144,714 | - | -€144,714 | |
| Profit (loss) for the period before taxes | 9903 | -€30,030 | €112,131 | +€142,161 | |
| Profit (loss) for the period | 9904 | -€30,030 | €112,131 | +€142,161 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,030 | €112,131 | +€142,161 |
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 5 November 2026 via checked.be.