VMS 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 HOLDING
Largest movements
- Receivables within one year +€385,963
up €385,963 (+4.1%), from €9.4m to €9.8m
- Cash +€99,221
up €99,221 (+2001.7%), from €4,957 to €104,178
mainly Other debts (+€1.4m) and Net result for the year (+€1.2m)
- Other debts +€1.4m
up €1.4m (+52.3%), from €2.6m to €4.0m
- Profit (loss) carried forward -€950,896
down €950,896 (-82.3%), from €1.2m to €204,892
- Tax, wage and social debts +€317,647
new in 2025: €317,647
- Current portion of long-term debt -€242,545
down €242,545 (-4.4%), from €5.5m to €5.3m
- Financial income -€108,686
down €108,686 (-6.8%), from €1.6m to €1.5m
- Financial charges -€44,593
down €44,593 (-12.4%), from €360,857 to €316,264
- Depreciation -€1,940
down €1,940 (-70.9%), from €2,735 to €795
- Gross operating margin -€730
down €730 (-126.0%), from -€579 to -€1,308
- Other operating charges +€31
up €31 (+3.0%), from €1,030 to €1,060
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 | €9,382,114 | €9,866,502 | +€484,388 | +5.2% |
| Fixed assets | 21/28 | €12,795 | €12,000 | -€795 | -6.2% |
| Tangible fixed assets | 22/27 | €795 | - | -€795 | |
| Plant, machinery and equipment | 23 | €795 | - | -€795 | |
| Financial fixed assets | 28 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €9,369,319 | €9,854,502 | +€485,183 | +5.2% |
| Amounts receivable within one year | 40/41 | €9,364,362 | €9,750,324 | +€385,963 | +4.1% |
| Other amounts receivable | 41 | €9,364,362 | €9,750,324 | +€385,963 | +4.1% |
| Cash at bank and in hand | 54/58 | €4,957 | €104,178 | +€99,221 | +2001.7% |
| Total equity and liabilities | 10/49 | €9,382,114 | €9,866,502 | +€484,388 | +5.2% |
| Equity | 10/15 | €1,265,788 | €314,892 | -€950,896 | -75.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,155,788 | €204,892 | -€950,896 | -82.3% |
| Amounts payable | 17/49 | €8,116,326 | €9,551,610 | +€1.4m | +17.7% |
| Amounts payable within one year | 42/48 | €8,116,241 | €9,551,610 | +€1.4m | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €5,513,405 | €5,270,860 | -€242,545 | -4.4% |
| Trade debts | 44 | €2,085 | €998 | -€1,087 | -52.1% |
| Suppliers | 440/4 | €2,085 | €998 | -€1,087 | -52.1% |
| Taxes, remuneration and social security | 45 | - | €317,647 | +€317,647 | |
| Taxes | 450/3 | - | €317,647 | +€317,647 | |
| Other amounts payable | 47/48 | €2,600,751 | €3,962,104 | +€1.4m | +52.3% |
| Accrued charges and deferred income | 492/3 | €85 | - | -€85 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,735 | €795 | -€1,940 | -70.9% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | -€579 | -€1,308 | -€730 | -126.0% |
| Operating profit (loss) | 9901 | -€4,344 | -€3,164 | +€1,180 | +27.2% |
| Financial income | 75/76B | €1,594,866 | €1,486,180 | -€108,686 | -6.8% |
| Recurring financial income | 75 | €1,594,866 | €1,486,180 | -€108,686 | -6.8% |
| Financial charges | 65/66B | €360,857 | €316,264 | -€44,593 | -12.4% |
| Recurring financial charges | 65 | €360,857 | €316,264 | -€44,593 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €1,229,665 | €1,166,751 | -€62,913 | -5.1% |
| Profit (loss) for the period | 9904 | €1,229,665 | €1,166,751 | -€62,913 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,229,665 | €1,166,751 | -€62,913 | -5.1% |
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 12 October 2026 via checked.be.