VMS CAPITAL HOLDING: 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.
VMS CAPITAL HOLDING
Largest movements
- Financial fixed assets -€240,540
down €240,540 (-30.8%), from €780,400 to €539,860
- Receivables within one year +€101,512
up €101,512 (+27.2%), from €373,813 to €475,325
of which Other amounts receivable: +€135,687
- Profit (loss) carried forward -€212,033
down €212,033, from €143,537 to -€68,496
- Other debts +€74,834
up €74,834 (+13.5%), from €552,682 to €627,515
- Provisions +€240,540
new in 2025: €240,540
- Gross operating margin -€19,116
down €19,116 (-32.3%), from €59,249 to €40,133
- Taxes -€4,948
down €4,948 (-31.4%), from €15,779 to €10,831
- Financial charges +€672
up €672 (+540%), from €124 to €796
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 | €1,154,257 | €1,015,433 | -€138,824 | -12.0% |
| Fixed assets | 21/28 | €780,400 | €539,860 | -€240,540 | -30.8% |
| Financial fixed assets | 28 | €780,400 | €539,860 | -€240,540 | -30.8% |
| Current assets | 29/58 | €373,857 | €475,573 | +€101,716 | +27.2% |
| Amounts receivable within one year | 40/41 | €373,813 | €475,325 | +€101,512 | +27.2% |
| Trade receivables | 40 | €67,345 | €33,170 | -€34,175 | -50.7% |
| Other amounts receivable | 41 | €306,468 | €442,155 | +€135,687 | +44.3% |
| Cash at bank and in hand | 54/58 | €44 | €247 | +€204 | +467% |
| Total equity and liabilities | 10/49 | €1,154,257 | €1,015,433 | -€138,824 | -12.0% |
| Equity | 10/15 | €571,559 | €359,526 | -€212,033 | -37.1% |
| Contributions | 10/11 | €390,200 | €390,200 | = | 0.0% |
| Reserves | 13 | €37,822 | €37,822 | = | 0.0% |
| Distributable reserves | 133 | €37,822 | €37,822 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,537 | -€68,496 | -€212,033 | |
| Amounts payable | 17/49 | €582,697 | €655,907 | +€73,209 | +12.6% |
| Amounts payable within one year | 42/48 | €582,697 | €655,907 | +€73,209 | +12.6% |
| Trade debts | 44 | €575 | - | -€575 | |
| Suppliers | 440/4 | €575 | - | -€575 | |
| Taxes, remuneration and social security | 45 | €29,441 | €28,391 | -€1,049 | -3.6% |
| Taxes | 450/3 | €29,441 | €28,391 | -€1,049 | -3.6% |
| Other amounts payable | 47/48 | €552,682 | €627,515 | +€74,834 | +13.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €240,540 | +€240,540 | |
| Gross operating margin | 9900 | €59,249 | €40,133 | -€19,116 | -32.3% |
| Operating profit (loss) | 9901 | €59,249 | -€200,407 | -€259,656 | |
| Financial charges | 65/66B | €124 | €796 | +€672 | +540% |
| Recurring financial charges | 65 | €124 | €796 | +€672 | +540% |
| Profit (loss) for the period before taxes | 9903 | €59,125 | -€201,203 | -€260,327 | |
| Income taxes | 67/77 | €15,779 | €10,831 | -€4,948 | -31.4% |
| Profit (loss) for the period | 9904 | €43,346 | -€212,033 | -€255,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,346 | -€212,033 | -€255,379 |
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 27 October 2026 via checked.be.