VMS ACCOUNTING: what changed
VMS ACCOUNTING
Largest movements
- Tangible fixed assets +€309,787
up €309,787 (+1,563%), from €19,822 to €329,610
of which Land and buildings: +€319,355
- Current investments -€202,000
no longer reported in 2025 (was €202,000)
- Financial fixed assets -€20,000
no longer reported in 2025 (was €20,000)
- Cash -€19,480
down €19,480 (-84.9%), from €22,949 to €3,469
mainly Investment in fixed assets (net) (-€341,408) and Contributions, distributions and other (-€80,845)
- Receivables within one year -€5,385
down €5,385 (-18.9%), from €28,481 to €23,095
of which Trade receivables: -€10,624
- Other debts +€143,776
up €143,776 (+86.7%), from €165,765 to €309,541
- Profit (loss) carried forward -€78,985
no longer reported in 2025 (was €78,985)
- Reserves +€9,308
up €9,308 (+500%), from €1,860 to €11,168
- Debts after one year -€6,403
no longer reported in 2025 (was €6,403)
- Current portion of long-term debt -€4,494
down €4,494 (-41.2%), from €10,897 to €6,403
- Gross operating margin -€40,953
down €40,953 (-38.1%), from €107,558 to €66,605
- Depreciation +€40,783
up €40,783 (+376%), from €10,838 to €51,621
- Taxes -€15,827
down €15,827 (-73.5%), from €21,526 to €5,699
- Financial income -€1,568
down €1,568 (-35.0%), from €4,478 to €2,910
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,077 | €356,174 | +€62,097 | +21.1% |
| Fixed assets | 21/28 | €39,822 | €329,610 | +€289,787 | +728% |
| Tangible fixed assets | 22/27 | €19,822 | €329,610 | +€309,787 | +1,563% |
| Land and buildings | 22 | - | €319,355 | +€319,355 | |
| Furniture and vehicles | 24 | €19,822 | €10,254 | -€9,568 | -48.3% |
| Financial fixed assets | 28 | €20,000 | - | -€20,000 | |
| Current assets | 29/58 | €254,254 | €26,564 | -€227,690 | -89.6% |
| Amounts receivable within one year | 40/41 | €28,481 | €23,095 | -€5,385 | -18.9% |
| Trade receivables | 40 | €28,430 | €17,806 | -€10,624 | -37.4% |
| Other amounts receivable | 41 | €50 | €5,289 | +€5,238 | +10,386% |
| Current investments | 50/53 | €202,000 | - | -€202,000 | |
| Cash at bank and in hand | 54/58 | €22,949 | €3,469 | -€19,480 | -84.9% |
| Deferred charges and accrued income | 490/1 | €825 | - | -€825 | |
| Total equity and liabilities | 10/49 | €294,077 | €356,174 | +€62,097 | +21.1% |
| Equity | 10/15 | €99,445 | €29,768 | -€69,678 | -70.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,168 | +€9,308 | +500% |
| Distributable reserves | 133 | €1,860 | €11,168 | +€9,308 | +500% |
| Profit (loss) carried forward | 14 | €78,985 | - | -€78,985 | |
| Amounts payable | 17/49 | €194,631 | €326,406 | +€131,775 | +67.7% |
| Amounts payable after more than one year | 17 | €6,403 | - | -€6,403 | |
| Financial debts | 170/4 | €6,403 | - | -€6,403 | |
| Amounts payable within one year | 42/48 | €188,229 | €325,506 | +€137,278 | +72.9% |
| Current portion of amounts payable after more than one year | 42 | €10,897 | €6,403 | -€4,494 | -41.2% |
| Trade debts | 44 | €155 | €251 | +€97 | +62.6% |
| Suppliers | 440/4 | €155 | €251 | +€97 | +62.6% |
| Taxes, remuneration and social security | 45 | €11,412 | €9,311 | -€2,101 | -18.4% |
| Taxes | 450/3 | €9,112 | €9,311 | +€199 | +2.2% |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Other amounts payable | 47/48 | €165,765 | €309,541 | +€143,776 | +86.7% |
| Accrued charges and deferred income | 492/3 | - | €900 | +€900 | |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,838 | €51,621 | +€40,783 | +376% |
| Other operating charges | 640/8 | €387 | €754 | +€367 | +94.7% |
| Gross operating margin | 9900 | €107,558 | €66,605 | -€40,953 | -38.1% |
| Operating profit (loss) | 9901 | €96,332 | €14,230 | -€82,102 | -85.2% |
| Financial income | 75/76B | €4,478 | €2,910 | -€1,568 | -35.0% |
| Recurring financial income | 75 | €4,478 | €2,910 | -€1,568 | -35.0% |
| Financial charges | 65/66B | €300 | €274 | -€26 | -8.7% |
| Recurring financial charges | 65 | €300 | €274 | -€26 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €100,511 | €16,867 | -€83,644 | -83.2% |
| Income taxes | 67/77 | €21,526 | €5,699 | -€15,827 | -73.5% |
| Profit (loss) for the period | 9904 | €78,985 | €11,168 | -€67,818 | -85.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,985 | €11,168 | -€67,818 | -85.9% |
Next steps
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 2 November 2026 via checked.be.