VTM Quality Services: 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.
What changed
VTM Quality Services
NACE 10.120, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €678,799+€336,591
Equity
€67,650
2024 · €67,650
Cash
€181,004
2024 · €50,108+€130,896
Balance sheet total
€6.2m
2024 · €6.3m-€148,108
Largest movements
Assets
- Receivables within one year -€139,777
down €139,777 (-2.5%), from €5.7m to €5.6m
of which Other amounts receivable: -€478,643
- Cash +€130,896
up €130,896 (+261%), from €50,108 to €181,004
mainly Net result for the year (+€1.0m) and Tax, wage and social debts (+€313,179)
- Deferred charges and accrued income -€81,618
down €81,618 (-78.4%), from €104,108 to €22,490
Equity and liabilities
- Other debts -€622,084
down €622,084 (-38.0%), from €1.6m to €1.0m
- Tax, wage and social debts +€313,179
up €313,179 (+25.3%), from €1.2m to €1.6m
of which Taxes: +€200,430
- Short-term financial debts +€130,755
up €130,755 (+6.2%), from €2.1m to €2.2m
Income statement
- Turnover +€2.1m
up €2.1m (+10.0%), from €20.7m to €22.8m
- Services and other goods +€1.2m
up €1.2m (+10.9%), from €11.4m to €12.6m
- Staff costs +€440,291
up €440,291 (+5.1%), from €8.7m to €9.1m
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.
Result 2024
€678,799
Turnover
+€2.1m
Other operating income
+€59,483
Services and other goods
-€1.2m
Staff costs
-€440,291
Depreciation
-€14,930
Write-downs
-€5,778
Other operating charges
+€13,271
Financial income
+€2,982
Financial charges
+€16,605
Taxes
-€124,334
Result 2025
€1.0m
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€51,000
Financing
-€884,634
Cash 2024
€50,108
From operations (derived)
+€1.1m
Net result for the year
+€1.0m
Depreciation
+€108,609
Receivables within one year
+€139,777
Deferred charges and accrued income
+€81,618
Trade debts
+€30,042
Tax, wage and social debts
+€313,179
Other debts
-€622,084
Investment (derived)
-€51,000
Investment in fixed assets (net)
-€51,000
Financing
-€884,634
Short-term financial debts
+€130,755
Contributions, distributions and other
-€1.0m
Cash 2025
€181,004
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,325,519 | €6,177,411 | -€148,108 | -2.3% |
| Fixed assets | 21/28 | €480,472 | €422,863 | -€57,609 | -12.0% |
| Tangible fixed assets | 22/27 | €477,264 | €419,655 | -€57,609 | -12.1% |
| Land and buildings | 22 | €118,720 | €111,107 | -€7,612 | -6.4% |
| Plant, machinery and equipment | 23 | €208,223 | €204,941 | -€3,282 | -1.6% |
| Furniture and vehicles | 24 | €150,321 | €103,607 | -€46,714 | -31.1% |
| Financial fixed assets | 28 | €3,208 | €3,208 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,208 | €3,208 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,208 | €3,208 | = | 0.0% |
| Current assets | 29/58 | €5,845,048 | €5,754,548 | -€90,499 | -1.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,690,832 | €5,551,055 | -€139,777 | -2.5% |
| Trade receivables | 40 | €2,926,817 | €3,265,682 | +€338,865 | +11.6% |
| Other amounts receivable | 41 | €2,764,015 | €2,285,372 | -€478,643 | -17.3% |
| Cash at bank and in hand | 54/58 | €50,108 | €181,004 | +€130,896 | +261% |
| Deferred charges and accrued income | 490/1 | €104,108 | €22,490 | -€81,618 | -78.4% |
| Total equity and liabilities | 10/49 | €6,325,519 | €6,177,411 | -€148,108 | -2.3% |
| Equity | 10/15 | €67,650 | €67,650 | = | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,257,869 | €6,109,761 | -€148,108 | -2.4% |
| Amounts payable within one year | 42/48 | €6,257,869 | €6,109,761 | -€148,108 | -2.4% |
| Financial debts | 43 | €2,109,872 | €2,240,627 | +€130,755 | +6.2% |
| Credit institutions | 430/8 | €2,109,872 | €2,240,627 | +€130,755 | +6.2% |
| Trade debts | 44 | €1,271,605 | €1,301,647 | +€30,042 | +2.4% |
| Suppliers | 440/4 | €1,271,605 | €1,301,647 | +€30,042 | +2.4% |
| Taxes, remuneration and social security | 45 | €1,238,918 | €1,552,097 | +€313,179 | +25.3% |
| Taxes | 450/3 | €363,377 | €563,807 | +€200,430 | +55.2% |
| Remuneration and social security | 454/9 | €875,542 | €988,290 | +€112,749 | +12.9% |
| Other amounts payable | 47/48 | €1,637,474 | €1,015,390 | -€622,084 | -38.0% |
| Operating income | 70/76A | €21,164,594 | €23,298,172 | +€2.1m | +10.1% |
| Turnover | 70 | €20,738,775 | €22,812,870 | +€2.1m | +10.0% |
| Other operating income | 74 | €425,818 | €485,301 | +€59,483 | +14.0% |
| Operating charges | 60/66A | €20,199,165 | €21,891,405 | +€1.7m | +8.4% |
| Services and other goods | 61 | €11,400,111 | €12,644,623 | +€1.2m | +10.9% |
| Remuneration, social security and pensions | 62 | €8,678,601 | €9,118,892 | +€440,291 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,679 | €108,609 | +€14,930 | +15.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,954 | €824 | +€5,778 | |
| Other operating charges | 640/8 | €31,728 | €18,457 | -€13,271 | -41.8% |
| Operating profit (loss) | 9901 | €965,428 | €1,406,767 | +€441,338 | +45.7% |
| Financial income | 75/76B | €45,885 | €48,867 | +€2,982 | +6.5% |
| Recurring financial income | 75 | €45,885 | €48,867 | +€2,982 | +6.5% |
| Income from current assets | 751 | €45,762 | €48,840 | +€3,078 | +6.7% |
| Other financial income | 752/9 | €124 | €27 | -€96 | -78.0% |
| Financial charges | 65/66B | €80,265 | €63,661 | -€16,605 | -20.7% |
| Recurring financial charges | 65 | €80,265 | €63,661 | -€16,605 | -20.7% |
| Debt charges | 650 | €80,265 | €63,650 | -€16,616 | -20.7% |
| Other financial charges | 652/9 | €0 | €11 | +€11 | |
| Profit (loss) for the period before taxes | 9903 | €931,048 | €1,391,973 | +€460,925 | +49.5% |
| Income taxes | 67/77 | €252,249 | €376,583 | +€124,334 | +49.3% |
| Taxes | 670/3 | €252,249 | €376,583 | +€124,334 | +49.3% |
| Profit (loss) for the period | 9904 | €678,799 | €1,015,390 | +€336,591 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €678,799 | €1,015,390 | +€336,591 | +49.6% |
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 13 October 2026 via checked.be.