VMIC: 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.
VMIC
Largest movements
- Stocks and contracts -€585,741
down €585,741 (-100%), from €585,741 to €0
- Deferred charges and accrued income +€505,396
up €505,396, from €0 to €505,396
- Cash -€348,608
down €348,608 (-95.2%), from €366,292 to €17,683
mainly Deferred charges and accrued income (-€505,396) and Other debts (-€360,000)
- Other debts -€360,000
down €360,000 (-35.9%), from €1.0m to €642,522
- Reserves -€62,000
down €62,000 (-23.7%), from €262,000 to €200,000
- Gross operating margin -€69,847
down €69,847, from €5,761 to -€64,086
- Financial income -€7,650
down €7,650 (-100%), from €7,650 to €0
- Financial charges -€6,487
down €6,487 (-92.2%), from €7,034 to €546
- Other operating charges -€1,396
down €1,396 (-45.4%), from €3,077 to €1,681
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 | €1,300,078 | €866,830 | -€433,248 | -33.3% |
| Current assets | 29/58 | €1,300,078 | €866,830 | -€433,248 | -33.3% |
| Stocks and contracts in progress | 3 | €585,741 | €0 | -€585,741 | -100% |
| Stocks | 30/36 | €585,741 | €0 | -€585,741 | -100% |
| Amounts receivable within one year | 40/41 | €348,045 | €343,750 | -€4,295 | -1.2% |
| Trade receivables | 40 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts receivable | 41 | €346,045 | €343,750 | -€2,295 | -0.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €366,292 | €17,683 | -€348,608 | -95.2% |
| Deferred charges and accrued income | 490/1 | €0 | €505,396 | +€505,396 | |
| Total equity and liabilities | 10/49 | €1,300,078 | €866,830 | -€433,248 | -33.3% |
| Equity | 10/15 | €287,277 | €220,965 | -€66,313 | -23.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €262,000 | €200,000 | -€62,000 | -23.7% |
| Distributable reserves | 133 | €262,000 | €200,000 | -€62,000 | -23.7% |
| Profit (loss) carried forward | 14 | €5,277 | €965 | -€4,313 | -81.7% |
| Amounts payable | 17/49 | €1,012,801 | €645,865 | -€366,936 | -36.2% |
| Amounts payable within one year | 42/48 | €1,012,801 | €645,865 | -€366,936 | -36.2% |
| Trade debts | 44 | €10,279 | €3,344 | -€6,936 | -67.5% |
| Suppliers | 440/4 | €10,279 | €3,344 | -€6,936 | -67.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,002,522 | €642,522 | -€360,000 | -35.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €3,077 | €1,681 | -€1,396 | -45.4% |
| Gross operating margin | 9900 | €5,761 | -€64,086 | -€69,847 | |
| Operating profit (loss) | 9901 | €2,684 | -€65,766 | -€68,451 | |
| Financial income | 75/76B | €7,650 | €0 | -€7,650 | -100% |
| Recurring financial income | 75 | €7,650 | €0 | -€7,650 | -100% |
| Financial charges | 65/66B | €7,034 | €546 | -€6,487 | -92.2% |
| Recurring financial charges | 65 | €7,034 | €546 | -€6,487 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €3,301 | -€66,313 | -€69,613 | |
| Profit (loss) for the period | 9904 | €3,301 | -€66,313 | -€69,613 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,301 | -€66,313 | -€69,613 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.