VTMT: 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.
VTMT
Largest movements
- Receivables within one year +€8,600
up €8,600 (+147.5%), from €5,832 to €14,432
of which Trade receivables: +€8,600
- Tangible fixed assets +€4,593
new in 2025: €4,593
- Cash +€3,904
up €3,904 (+63.4%), from €6,156 to €10,060
mainly Trade debts (+€6,414) and Net result for the year (+€4,869)
- Trade debts +€6,414
up €6,414 (+115.9%), from €5,535 to €11,949
- Profit (loss) carried forward +€4,869
up €4,869, from -€185 to €4,684
- Tax, wage and social debts +€2,982
up €2,982 (+52.9%), from €5,638 to €8,620
of which Taxes: +€3,874
- Other debts +€2,833
new in 2025: €2,833
- Gross operating margin +€10,120
up €10,120, from -€1,923 to €8,196
- Taxes +€1,828
up €1,828 (+294.4%), from €621 to €2,449
- Depreciation +€836
new in 2025: €836
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 | €11,988 | €29,086 | +€17,098 | +142.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | - | €4,593 | +€4,593 | |
| Tangible fixed assets | 22/27 | - | €4,593 | +€4,593 | |
| Plant, machinery and equipment | 23 | - | €4,593 | +€4,593 | |
| Current assets | 29/58 | €11,988 | €24,492 | +€12,504 | +104.3% |
| Amounts receivable within one year | 40/41 | €5,832 | €14,432 | +€8,600 | +147.5% |
| Trade receivables | 40 | €5,832 | €14,432 | +€8,600 | +147.5% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €6,156 | €10,060 | +€3,904 | +63.4% |
| Total equity and liabilities | 10/49 | €11,988 | €29,086 | +€17,098 | +142.6% |
| Equity | 10/15 | €815 | €5,684 | +€4,869 | +597.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185 | €4,684 | +€4,869 | |
| Amounts payable | 17/49 | €11,173 | €23,402 | +€12,228 | +109.4% |
| Amounts payable within one year | 42/48 | €11,173 | €23,402 | +€12,228 | +109.4% |
| Trade debts | 44 | €5,535 | €11,949 | +€6,414 | +115.9% |
| Suppliers | 440/4 | €5,535 | €11,949 | +€6,414 | +115.9% |
| Taxes, remuneration and social security | 45 | €5,638 | €8,620 | +€2,982 | +52.9% |
| Taxes | 450/3 | €4,746 | €8,620 | +€3,874 | +81.6% |
| Remuneration and social security | 454/9 | €893 | - | -€893 | |
| Other amounts payable | 47/48 | - | €2,833 | +€2,833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €836 | +€836 | |
| Other operating charges | 640/8 | €63 | - | -€63 | |
| Gross operating margin | 9900 | -€1,923 | €8,196 | +€10,120 | |
| Operating profit (loss) | 9901 | -€1,987 | €7,360 | +€9,347 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +3200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3200.0% |
| Financial charges | 65/66B | €49 | €42 | -€7 | -14.2% |
| Recurring financial charges | 65 | €49 | €42 | -€7 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,036 | €7,318 | +€9,354 | |
| Income taxes | 67/77 | €621 | €2,449 | +€1,828 | +294.4% |
| Profit (loss) for the period | 9904 | -€2,657 | €4,869 | +€7,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,657 | €4,869 | +€7,526 |
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 6 October 2026 via checked.be.