VORMA: what changed
Two fiscal 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.
VORMA
Largest movements
- Receivables within one year -€10,826
down €10,826 (-12.9%), from €84,236 to €73,410
of which Other amounts receivable: -€11,233
- Receivables after one year -€5,000
down €5,000 (-3.3%), from €151,870 to €146,870
- Trade debts -€9,958
down €9,958 (-71.4%), from €13,945 to €3,987
- Short-term financial debts -€6,413
down €6,413 (-11.6%), from €55,522 to €49,109
- Current portion of long-term debt +€5,000
new in 2025: €5,000
- Profit (loss) carried forward -€4,881
down €4,881 (-7.3%), from -€67,056 to -€71,936
- Gross operating margin +€2,792
up €2,792 (+380.4%), from €734 to €3,526
- Financial charges -€442
down €442 (-5.6%), from €7,951 to €7,509
- Other operating charges -€59
down €59 (-9.3%), from €632 to €573
- Financial income +€58
new in 2025: €58
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,075 | €225,333 | -€15,742 | -6.5% |
| Current assets | 29/58 | €241,075 | €225,333 | -€15,742 | -6.5% |
| Amounts receivable after more than one year | 29 | €151,870 | €146,870 | -€5,000 | -3.3% |
| Other amounts receivable | 291 | €151,870 | €146,870 | -€5,000 | -3.3% |
| Amounts receivable within one year | 40/41 | €84,236 | €73,410 | -€10,826 | -12.9% |
| Trade receivables | 40 | €51,660 | €52,066 | +€406 | +0.8% |
| Other amounts receivable | 41 | €32,576 | €21,343 | -€11,233 | -34.5% |
| Deferred charges and accrued income | 490/1 | €4,969 | €5,053 | +€84 | +1.7% |
| Total equity and liabilities | 10/49 | €241,075 | €225,333 | -€15,742 | -6.5% |
| Equity | 10/15 | €170,976 | €166,095 | -€4,881 | -2.9% |
| Contributions | 10/11 | €77,000 | €77,000 | = | 0.0% |
| Capital | 10 | €77,000 | €77,000 | = | 0.0% |
| Issued capital | 100 | €77,000 | €77,000 | = | 0.0% |
| Reserves | 13 | €161,032 | €161,032 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,532 | €7,532 | = | 0.0% |
| Legal reserve | 130 | €7,532 | €7,532 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €138,500 | €138,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,056 | -€71,936 | -€4,881 | -7.3% |
| Amounts payable | 17/49 | €70,099 | €59,238 | -€10,861 | -15.5% |
| Amounts payable within one year | 42/48 | €70,099 | €59,238 | -€10,861 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,000 | +€5,000 | |
| Financial debts | 43 | €55,522 | €49,109 | -€6,413 | -11.6% |
| Credit institutions | 430/8 | €55,522 | €49,109 | -€6,413 | -11.6% |
| Trade debts | 44 | €13,945 | €3,987 | -€9,958 | -71.4% |
| Suppliers | 440/4 | €13,945 | €3,987 | -€9,958 | -71.4% |
| Taxes, remuneration and social security | 45 | €632 | €1,141 | +€510 | +80.7% |
| Taxes | 450/3 | €632 | €1,141 | +€510 | +80.7% |
| Other operating charges | 640/8 | €632 | €573 | -€59 | -9.3% |
| Gross operating margin | 9900 | €734 | €3,526 | +€2,792 | +380.4% |
| Operating profit (loss) | 9901 | €103 | €2,953 | +€2,851 | +2781.3% |
| Financial income | 75/76B | - | €58 | +€58 | |
| Recurring financial income | 75 | - | €58 | +€58 | |
| Financial charges | 65/66B | €7,951 | €7,509 | -€442 | -5.6% |
| Recurring financial charges | 65 | €7,951 | €7,509 | -€442 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,848 | -€4,497 | +€3,351 | +42.7% |
| Income taxes | 67/77 | €374 | €384 | +€10 | +2.7% |
| Profit (loss) for the period | 9904 | -€8,222 | -€4,881 | +€3,341 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,222 | -€4,881 | +€3,341 | +40.6% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.