VMJ: 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.
VMJ
Largest movements
- Cash +€7,316
up €7,316 (+38.7%), from €18,883 to €26,199
mainly Net result for the year (+€11,774) and Tax, wage and social debts (+€340)
- Receivables within one year +€3,134
up €3,134 (+569.8%), from €550 to €3,684
of which Other amounts receivable: +€1,896
- Profit (loss) carried forward +€11,774
up €11,774 (+114.5%), from €10,285 to €22,060
- Other debts -€1,606
no longer reported in 2025 (was €1,606)
- Tax, wage and social debts +€340
up €340 (+12.8%), from €2,650 to €2,990
- Gross operating margin +€1,979
up €1,979 (+14.6%), from €13,529 to €15,508
- Taxes +€341
up €341 (+12.9%), from €2,650 to €2,991
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 | €20,041 | €30,300 | +€10,259 | +51.2% |
| Fixed assets | 21/28 | €607 | €416 | -€191 | -31.4% |
| Tangible fixed assets | 22/27 | €607 | €416 | -€191 | -31.4% |
| Furniture and vehicles | 24 | €607 | €416 | -€191 | -31.4% |
| Current assets | 29/58 | €19,433 | €29,883 | +€10,450 | +53.8% |
| Amounts receivable within one year | 40/41 | €550 | €3,684 | +€3,134 | +569.8% |
| Trade receivables | 40 | €550 | €1,788 | +€1,238 | +225.1% |
| Other amounts receivable | 41 | - | €1,896 | +€1,896 | |
| Cash at bank and in hand | 54/58 | €18,883 | €26,199 | +€7,316 | +38.7% |
| Total equity and liabilities | 10/49 | €20,041 | €30,300 | +€10,259 | +51.2% |
| Equity | 10/15 | €14,285 | €26,060 | +€11,774 | +82.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,285 | €22,060 | +€11,774 | +114.5% |
| Amounts payable | 17/49 | €5,756 | €4,240 | -€1,516 | -26.3% |
| Amounts payable within one year | 42/48 | €5,756 | €4,240 | -€1,516 | -26.3% |
| Trade debts | 44 | €1,500 | €1,250 | -€250 | -16.7% |
| Suppliers | 440/4 | €1,500 | €1,250 | -€250 | -16.7% |
| Taxes, remuneration and social security | 45 | €2,650 | €2,990 | +€340 | +12.8% |
| Taxes | 450/3 | €2,650 | €2,990 | +€340 | +12.8% |
| Other amounts payable | 47/48 | €1,606 | - | -€1,606 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157 | €191 | +€34 | +22.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €13,529 | €15,508 | +€1,979 | +14.6% |
| Operating profit (loss) | 9901 | €12,985 | €14,917 | +€1,932 | +14.9% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €50 | €157 | +€107 | +214.7% |
| Recurring financial charges | 65 | €50 | €157 | +€107 | +214.7% |
| Profit (loss) for the period before taxes | 9903 | €12,935 | €14,766 | +€1,831 | +14.2% |
| Income taxes | 67/77 | €2,650 | €2,991 | +€341 | +12.9% |
| Profit (loss) for the period | 9904 | €10,285 | €11,774 | +€1,489 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,285 | €11,774 | +€1,489 | +14.5% |
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 12 October 2026 via checked.be.