VMN Services: 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.
VMN Services
Largest movements
- Receivables within one year -€187,129
down €187,129 (-70.8%), from €264,455 to €77,326
of which Trade receivables: -€186,253
- Cash -€52,034
down €52,034 (-56.6%), from €91,934 to €39,900
mainly Current portion of long-term debt (-€199,063) and Net result for the year (-€89,527)
- Tangible fixed assets -€30,196
down €30,196 (-37.5%), from €80,518 to €50,322
of which Plant, machinery and equipment: -€18,230
- Stocks and contracts -€8,000
down €8,000 (-100.0%), from €8,000 to €0
- Deferred charges and accrued income -€4,928
down €4,928 (-45.9%), from €10,741 to €5,813
- Current portion of long-term debt -€199,063
down €199,063 (-67.2%), from €296,291 to €97,228
- Profit (loss) carried forward -€89,527
down €89,527 (-69.4%), from -€128,927 to -€218,454
- Trade debts +€24,959
up €24,959 (+97.1%), from €25,715 to €50,674
- Other debts -€16,580
down €16,580 (-32.8%), from €50,592 to €34,012
- Gross operating margin -€329,071
down €329,071 (-56.8%), from €579,804 to €250,733
- Staff costs -€217,506
down €217,506 (-43.4%), from €500,985 to €283,479
- Other operating charges +€17,359
up €17,359 (+441.9%), from €3,928 to €21,288
- Depreciation -€11,537
down €11,537 (-27.2%), from €42,354 to €30,817
- Financial charges -€6,093
down €6,093 (-51.1%), from €11,927 to €5,834
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 | €477,079 | €189,440 | -€287,639 | -60.3% |
| Formation expenses | 20 | €14,147 | €9,460 | -€4,687 | -33.1% |
| Fixed assets | 21/28 | €87,802 | €56,940 | -€30,862 | -35.1% |
| Intangible fixed assets | 21 | €666 | €0 | -€666 | -100.0% |
| Tangible fixed assets | 22/27 | €80,518 | €50,322 | -€30,196 | -37.5% |
| Land and buildings | 22 | €2,434 | €1,991 | -€443 | -18.2% |
| Plant, machinery and equipment | 23 | €18,325 | €95 | -€18,230 | -99.5% |
| Furniture and vehicles | 24 | €58,681 | €47,655 | -€11,026 | -18.8% |
| Other tangible fixed assets | 26 | €1,078 | €581 | -€498 | -46.1% |
| Financial fixed assets | 28 | €6,618 | €6,618 | = | 0.0% |
| Current assets | 29/58 | €375,129 | €123,039 | -€252,090 | -67.2% |
| Stocks and contracts in progress | 3 | €8,000 | €0 | -€8,000 | -100.0% |
| Stocks | 30/36 | €8,000 | €0 | -€8,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €264,455 | €77,326 | -€187,129 | -70.8% |
| Trade receivables | 40 | €262,675 | €76,421 | -€186,253 | -70.9% |
| Other amounts receivable | 41 | €1,780 | €905 | -€876 | -49.2% |
| Cash at bank and in hand | 54/58 | €91,934 | €39,900 | -€52,034 | -56.6% |
| Deferred charges and accrued income | 490/1 | €10,741 | €5,813 | -€4,928 | -45.9% |
| Total equity and liabilities | 10/49 | €477,079 | €189,440 | -€287,639 | -60.3% |
| Equity | 10/15 | €89,673 | €146 | -€89,527 | -99.8% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,927 | -€218,454 | -€89,527 | -69.4% |
| Amounts payable | 17/49 | €387,406 | €189,294 | -€198,112 | -51.1% |
| Amounts payable within one year | 42/48 | €384,288 | €189,294 | -€194,994 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €296,291 | €97,228 | -€199,063 | -67.2% |
| Trade debts | 44 | €25,715 | €50,674 | +€24,959 | +97.1% |
| Suppliers | 440/4 | €25,715 | €50,674 | +€24,959 | +97.1% |
| Taxes, remuneration and social security | 45 | €11,691 | €7,380 | -€4,311 | -36.9% |
| Taxes | 450/3 | €287 | €944 | +€657 | +229.3% |
| Remuneration and social security | 454/9 | €11,404 | €6,436 | -€4,968 | -43.6% |
| Other amounts payable | 47/48 | €50,592 | €34,012 | -€16,580 | -32.8% |
| Accrued charges and deferred income | 492/3 | €3,117 | €0 | -€3,117 | -100.0% |
| Remuneration, social security and pensions | 62 | €500,985 | €283,479 | -€217,506 | -43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,354 | €30,817 | -€11,537 | -27.2% |
| Other operating charges | 640/8 | €3,928 | €21,288 | +€17,359 | +441.9% |
| Gross operating margin | 9900 | €579,804 | €250,733 | -€329,071 | -56.8% |
| Operating profit (loss) | 9901 | €32,537 | -€84,850 | -€117,388 | |
| Financial income | 75/76B | €1,221 | €1,528 | +€307 | +25.1% |
| Recurring financial income | 75 | €1,221 | €1,528 | +€307 | +25.1% |
| Financial charges | 65/66B | €11,927 | €5,834 | -€6,093 | -51.1% |
| Recurring financial charges | 65 | €11,927 | €5,834 | -€6,093 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €21,832 | -€89,156 | -€110,987 | |
| Income taxes | 67/77 | €305 | €372 | +€67 | +21.9% |
| Profit (loss) for the period | 9904 | €21,527 | -€89,527 | -€111,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,527 | -€89,527 | -€111,054 |
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 6 October 2026 via checked.be.