VMP LAW: 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.
VMP LAW
Largest movements
- Cash +€375,693
up €375,693 (+2,471%), from €15,202 to €390,894
mainly Investment in fixed assets (net) (+€283,120) and Contributions, distributions and other (+€242,737)
- Financial fixed assets -€286,500
down €286,500 (-98.6%), from €290,495 to €3,995
- Receivables within one year +€214,483
up €214,483 (+650%), from €33,006 to €247,489
of which Other amounts receivable: +€166,300
- Reserves +€300,945
up €300,945 (+216%), from €139,246 to €440,191
- Gross operating margin -€13,164
down €13,164 (-6.8%), from €193,588 to €180,424
- Staff costs +€12,062
up €12,062 (+14.9%), from €80,992 to €93,054
- Other operating charges +€2,987
up €2,987 (+200%), from €1,491 to €4,478
- Taxes -€2,854
down €2,854 (-10.8%), from €26,474 to €23,620
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 | €340,190 | €645,936 | +€305,746 | +89.9% |
| Fixed assets | 21/28 | €291,983 | €7,199 | -€284,783 | -97.5% |
| Tangible fixed assets | 22/27 | €1,487 | €3,204 | +€1,717 | +115% |
| Plant, machinery and equipment | 23 | €350 | €2,884 | +€2,534 | +724% |
| Furniture and vehicles | 24 | €1,137 | €320 | -€817 | -71.9% |
| Financial fixed assets | 28 | €290,495 | €3,995 | -€286,500 | -98.6% |
| Current assets | 29/58 | €48,208 | €638,737 | +€590,529 | +1,225% |
| Amounts receivable within one year | 40/41 | €33,006 | €247,489 | +€214,483 | +650% |
| Trade receivables | 40 | €7,220 | €55,403 | +€48,184 | +667% |
| Other amounts receivable | 41 | €25,787 | €192,086 | +€166,300 | +645% |
| Cash at bank and in hand | 54/58 | €15,202 | €390,894 | +€375,693 | +2,471% |
| Deferred charges and accrued income | 490/1 | - | €353 | +€353 | |
| Total equity and liabilities | 10/49 | €340,190 | €645,936 | +€305,746 | +89.9% |
| Equity | 10/15 | €158,235 | €459,180 | +€300,945 | +190% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,246 | €440,191 | +€300,945 | +216% |
| Distributable reserves | 133 | €139,246 | €440,191 | +€300,945 | +216% |
| Profit (loss) carried forward | 14 | €389 | €389 | = | 0.0% |
| Amounts payable | 17/49 | €181,955 | €186,756 | +€4,801 | +2.6% |
| Amounts payable within one year | 42/48 | €181,955 | €186,756 | +€4,801 | +2.6% |
| Trade debts | 44 | €4,655 | €11,028 | +€6,372 | +137% |
| Suppliers | 440/4 | €4,655 | €11,028 | +€6,372 | +137% |
| Taxes, remuneration and social security | 45 | €30,250 | €27,003 | -€3,247 | -10.7% |
| Taxes | 450/3 | €19,352 | €14,387 | -€4,964 | -25.7% |
| Remuneration and social security | 454/9 | €10,898 | €12,616 | +€1,718 | +15.8% |
| Other amounts payable | 47/48 | €147,050 | €148,725 | +€1,675 | +1.1% |
| Remuneration, social security and pensions | 62 | €80,992 | €93,054 | +€12,062 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,630 | €1,663 | -€967 | -36.8% |
| Other operating charges | 640/8 | €1,491 | €4,478 | +€2,987 | +200% |
| Gross operating margin | 9900 | €193,588 | €180,424 | -€13,164 | -6.8% |
| Operating profit (loss) | 9901 | €108,475 | €81,230 | -€27,245 | -25.1% |
| Financial income | 75/76B | €381 | €1,981 | +€1,600 | +420% |
| Recurring financial income | 75 | €381 | €1,981 | +€1,600 | +420% |
| Financial charges | 65/66B | €315 | €1,383 | +€1,068 | +339% |
| Recurring financial charges | 65 | €315 | €1,383 | +€1,068 | +339% |
| Profit (loss) for the period before taxes | 9903 | €108,541 | €81,827 | -€26,713 | -24.6% |
| Income taxes | 67/77 | €26,474 | €23,620 | -€2,854 | -10.8% |
| Profit (loss) for the period | 9904 | €82,066 | €58,208 | -€23,859 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,066 | €58,208 | -€23,859 | -29.1% |
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 29 October 2026 via checked.be.