VPAM Services: 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.
VPAM Services
Largest movements
- Cash +€9,613
up €9,613 (+1738.2%), from €553 to €10,166
mainly Depreciation (+€15,341) and Net result for the year (+€14,264)
- Receivables within one year -€6,497
down €6,497 (-14.3%), from €45,318 to €38,821
of which Other amounts receivable: -€6,137
- Deferred charges and accrued income -€2,835
down €2,835 (-48.6%), from €5,829 to €2,993
- Tangible fixed assets -€2,720
down €2,720 (-2.6%), from €102,627 to €99,907
- Financial fixed assets -€1,630
down €1,630 (-71.9%), from €2,268 to €638
- Profit (loss) carried forward +€14,264
up €14,264 (+15.8%), from €90,364 to €104,628
- Debts after one year -€9,282
down €9,282 (-47.1%), from €19,712 to €10,429
- Trade debts -€5,789
down €5,789 (-83.7%), from €6,916 to €1,127
- Short-term financial debts -€3,441
no longer reported in 2025 (was €3,441)
- Tax, wage and social debts +€2,433
up €2,433 (+1287.5%), from €189 to €2,622
- Gross operating margin -€8,881
down €8,881 (-21.2%), from €41,828 to €32,947
- Other operating charges -€2,722
down €2,722 (-87.0%), from €3,129 to €407
- Depreciation -€2,300
down €2,300 (-13.0%), from €17,641 to €15,341
- Taxes -€1,392
down €1,392 (-25.0%), from €5,578 to €4,186
- Financial income +€1,032
up €1,032 (+61.6%), from €1,677 to €2,709
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 | €160,619 | €156,550 | -€4,069 | -2.5% |
| Fixed assets | 21/28 | €104,894 | €100,545 | -€4,350 | -4.1% |
| Tangible fixed assets | 22/27 | €102,627 | €99,907 | -€2,720 | -2.6% |
| Furniture and vehicles | 24 | €102,627 | €99,907 | -€2,720 | -2.6% |
| Financial fixed assets | 28 | €2,268 | €638 | -€1,630 | -71.9% |
| Current assets | 29/58 | €55,724 | €56,005 | +€280 | +0.5% |
| Stocks and contracts in progress | 3 | €4,025 | €4,025 | = | 0.0% |
| Stocks | 30/36 | €4,025 | €4,025 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,318 | €38,821 | -€6,497 | -14.3% |
| Trade receivables | 40 | €1,662 | €1,302 | -€360 | -21.7% |
| Other amounts receivable | 41 | €43,656 | €37,520 | -€6,137 | -14.1% |
| Cash at bank and in hand | 54/58 | €553 | €10,166 | +€9,613 | +1738.2% |
| Deferred charges and accrued income | 490/1 | €5,829 | €2,993 | -€2,835 | -48.6% |
| Total equity and liabilities | 10/49 | €160,619 | €156,550 | -€4,069 | -2.5% |
| Equity | 10/15 | €118,824 | €133,088 | +€14,264 | +12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,860 | €9,860 | = | 0.0% |
| Distributable reserves | 133 | €9,860 | €9,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,364 | €104,628 | +€14,264 | +15.8% |
| Amounts payable | 17/49 | €41,795 | €23,461 | -€18,334 | -43.9% |
| Amounts payable after more than one year | 17 | €19,712 | €10,429 | -€9,282 | -47.1% |
| Financial debts | 170/4 | €19,712 | €10,429 | -€9,282 | -47.1% |
| Amounts payable within one year | 42/48 | €22,083 | €13,032 | -€9,051 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €11,537 | €9,282 | -€2,255 | -19.5% |
| Financial debts | 43 | €3,441 | - | -€3,441 | |
| Credit institutions | 430/8 | €3,441 | - | -€3,441 | |
| Trade debts | 44 | €6,916 | €1,127 | -€5,789 | -83.7% |
| Suppliers | 440/4 | €6,916 | €1,127 | -€5,789 | -83.7% |
| Taxes, remuneration and social security | 45 | €189 | €2,622 | +€2,433 | +1287.5% |
| Taxes | 450/3 | €189 | €2,622 | +€2,433 | +1287.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,641 | €15,341 | -€2,300 | -13.0% |
| Other operating charges | 640/8 | €3,129 | €407 | -€2,722 | -87.0% |
| Gross operating margin | 9900 | €41,828 | €32,947 | -€8,881 | -21.2% |
| Operating profit (loss) | 9901 | €21,058 | €17,199 | -€3,859 | -18.3% |
| Financial income | 75/76B | €1,677 | €2,709 | +€1,032 | +61.6% |
| Recurring financial income | 75 | €1,677 | €2,709 | +€1,032 | +61.6% |
| Financial charges | 65/66B | €2,050 | €1,457 | -€593 | -28.9% |
| Recurring financial charges | 65 | €2,050 | €1,457 | -€593 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €20,684 | €18,451 | -€2,233 | -10.8% |
| Income taxes | 67/77 | €5,578 | €4,186 | -€1,392 | -25.0% |
| Profit (loss) for the period | 9904 | €15,106 | €14,264 | -€841 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,106 | €14,264 | -€841 | -5.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.