VMS Recycling: 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 Recycling
Largest movements
- Receivables within one year -€54,554
down €54,554 (-38.4%), from €141,988 to €87,434
of which Trade receivables: -€54,554
- Tangible fixed assets -€15,885
down €15,885 (-42.6%), from €37,258 to €21,373
of which Plant, machinery and equipment: -€15,601
- Cash +€8,782
up €8,782 (+256%), from €3,425 to €12,207
mainly Receivables within one year (+€54,554) and Depreciation (+€15,885)
- Trade debts -€46,765
down €46,765 (-44.7%), from €104,616 to €57,851
- Tax, wage and social debts -€16,361
down €16,361 (-41.6%), from €39,324 to €22,963
of which Taxes: -€16,188
- Staff costs +€4,954
up €4,954 (+13.6%), from €36,513 to €41,467
- Depreciation -€3,163
down €3,163 (-16.6%), from €19,048 to €15,885
- Gross operating margin +€1,506
up €1,506 (+2.6%), from €58,697 to €60,203
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 | €186,285 | €124,628 | -€61,657 | -33.1% |
| Fixed assets | 21/28 | €37,258 | €21,373 | -€15,885 | -42.6% |
| Tangible fixed assets | 22/27 | €37,258 | €21,373 | -€15,885 | -42.6% |
| Plant, machinery and equipment | 23 | €36,775 | €21,174 | -€15,601 | -42.4% |
| Furniture and vehicles | 24 | €483 | €199 | -€284 | -58.8% |
| Current assets | 29/58 | €149,027 | €103,255 | -€45,772 | -30.7% |
| Amounts receivable within one year | 40/41 | €141,988 | €87,434 | -€54,554 | -38.4% |
| Trade receivables | 40 | €114,165 | €59,611 | -€54,554 | -47.8% |
| Other amounts receivable | 41 | €27,823 | €27,823 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,425 | €12,207 | +€8,782 | +256% |
| Deferred charges and accrued income | 490/1 | €3,614 | €3,614 | = | 0.0% |
| Total equity and liabilities | 10/49 | €186,285 | €124,628 | -€61,657 | -33.1% |
| Equity | 10/15 | €14,017 | €15,485 | +€1,468 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €313 | €313 | = | 0.0% |
| Non-distributable reserves | 130/1 | €313 | €313 | = | 0.0% |
| Reserves not available under the articles | 1311 | €313 | €313 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,504 | €8,972 | +€1,468 | +19.6% |
| Amounts payable | 17/49 | €172,268 | €109,143 | -€63,125 | -36.6% |
| Amounts payable within one year | 42/48 | €172,268 | €109,143 | -€63,125 | -36.6% |
| Trade debts | 44 | €104,616 | €57,851 | -€46,765 | -44.7% |
| Suppliers | 440/4 | €104,616 | €57,851 | -€46,765 | -44.7% |
| Taxes, remuneration and social security | 45 | €39,324 | €22,963 | -€16,361 | -41.6% |
| Taxes | 450/3 | €35,029 | €18,841 | -€16,188 | -46.2% |
| Remuneration and social security | 454/9 | €4,295 | €4,122 | -€173 | -4.0% |
| Other amounts payable | 47/48 | €28,328 | €28,329 | +€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €36,513 | €41,467 | +€4,954 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,048 | €15,885 | -€3,163 | -16.6% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €58,697 | €60,203 | +€1,506 | +2.6% |
| Operating profit (loss) | 9901 | €2,749 | €2,851 | +€102 | +3.7% |
| Financial charges | 65/66B | €514 | €603 | +€89 | +17.3% |
| Recurring financial charges | 65 | €514 | €603 | +€89 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €2,235 | €2,248 | +€13 | +0.6% |
| Income taxes | 67/77 | €320 | €780 | +€460 | +144% |
| Profit (loss) for the period | 9904 | €1,915 | €1,468 | -€447 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,915 | €1,468 | -€447 | -23.3% |
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 23 October 2026 via checked.be.