No, because when you compile from VB.NET you will compile to "ANY CPU"
If you explicitly changed it to x64 - made it a 64 bit app only - then it should not work on a 32 bit machine.
Compiling to Any CPU means that the app will figure out at runtime how to load (a little bit bigger in size, but the app will run in both 32bit and 64bit mode as required)
If you were developing a app only for the 64bit server you could compile it to x64 and the file size would be smaller.