Special Effects VW: what changed
Special Effects VW
Largest movements
- Receivables within one year +€80,760
up €80,760 (+130%), from €62,156 to €142,916
of which Trade receivables: +€88,506
- Tangible fixed assets +€28,777
up €28,777 (+20.7%), from €139,071 to €167,848
of which Leasing and similar rights: +€25,778
- Deferred charges and accrued income -€23,904
down €23,904 (-84.3%), from €28,349 to €4,445
- Cash -€21,775
down €21,775 (-45.3%), from €48,042 to €26,267
mainly Receivables within one year (-€80,760) and Investment in fixed assets (net) (-€76,282)
- Reserves +€42,397
up €42,397 (+25.8%), from €164,209 to €206,606
- Other debts +€26,094
up €26,094 (+144%), from €18,079 to €44,173
- Tax, wage and social debts -€18,765
down €18,765 (-35.3%), from €53,196 to €34,431
of which Taxes: -€28,362
- Debts after one year +€10,425
up €10,425 (+143%), from €7,312 to €17,736
- Staff costs +€41,720
up €41,720 (+118%), from €35,368 to €77,088
- Depreciation +€18,014
up €18,014 (+61.1%), from €29,491 to €47,505
- Gross operating margin +€10,325
up €10,325 (+5.1%), from €203,733 to €214,058
- Taxes -€3,293
down €3,293 (-12.2%), from €26,912 to €23,619
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €277,924 | €341,781 | +€63,858 | +23.0% |
| Fixed assets | 21/28 | €139,376 | €168,153 | +€28,777 | +20.6% |
| Tangible fixed assets | 22/27 | €139,071 | €167,848 | +€28,777 | +20.7% |
| Plant, machinery and equipment | 23 | €75,638 | €67,673 | -€7,965 | -10.5% |
| Furniture and vehicles | 24 | €41,801 | €45,266 | +€3,465 | +8.3% |
| Leasing and similar rights | 25 | - | €25,778 | +€25,778 | |
| Other tangible fixed assets | 26 | €21,632 | €29,132 | +€7,500 | +34.7% |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €138,548 | €173,628 | +€35,080 | +25.3% |
| Amounts receivable within one year | 40/41 | €62,156 | €142,916 | +€80,760 | +130% |
| Trade receivables | 40 | €37,763 | €126,269 | +€88,506 | +234% |
| Other amounts receivable | 41 | €24,393 | €16,647 | -€7,746 | -31.8% |
| Cash at bank and in hand | 54/58 | €48,042 | €26,267 | -€21,775 | -45.3% |
| Deferred charges and accrued income | 490/1 | €28,349 | €4,445 | -€23,904 | -84.3% |
| Total equity and liabilities | 10/49 | €277,924 | €341,781 | +€63,858 | +23.0% |
| Equity | 10/15 | €182,809 | €225,206 | +€42,397 | +23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,209 | €206,606 | +€42,397 | +25.8% |
| Distributable reserves | 133 | €164,209 | €206,606 | +€42,397 | +25.8% |
| Amounts payable | 17/49 | €95,115 | €116,575 | +€21,460 | +22.6% |
| Amounts payable after more than one year | 17 | €7,312 | €17,736 | +€10,425 | +143% |
| Financial debts | 170/4 | €7,312 | €17,736 | +€10,425 | +143% |
| Amounts payable within one year | 42/48 | €87,803 | €98,839 | +€11,036 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €10,790 | €11,866 | +€1,076 | +10.0% |
| Trade debts | 44 | €5,738 | €8,369 | +€2,631 | +45.9% |
| Suppliers | 440/4 | €5,738 | €8,369 | +€2,631 | +45.9% |
| Taxes, remuneration and social security | 45 | €53,196 | €34,431 | -€18,765 | -35.3% |
| Taxes | 450/3 | €41,883 | €13,521 | -€28,362 | -67.7% |
| Remuneration and social security | 454/9 | €11,313 | €20,909 | +€9,597 | +84.8% |
| Other amounts payable | 47/48 | €18,079 | €44,173 | +€26,094 | +144% |
| Non-recurring operating income | 76A | €2,602 | - | -€2,602 | |
| Remuneration, social security and pensions | 62 | €35,368 | €77,088 | +€41,720 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,491 | €47,505 | +€18,014 | +61.1% |
| Other operating charges | 640/8 | €3,564 | €2,098 | -€1,466 | -41.1% |
| Non-recurring operating charges | 66A | €21,074 | - | -€21,074 | |
| Gross operating margin | 9900 | €203,733 | €214,058 | +€10,325 | +5.1% |
| Operating profit (loss) | 9901 | €114,237 | €87,367 | -€26,870 | -23.5% |
| Financial income | 75/76B | €99 | €188 | +€89 | +90.2% |
| Recurring financial income | 75 | €99 | €188 | +€89 | +90.2% |
| Financial charges | 65/66B | €1,252 | €1,747 | +€495 | +39.5% |
| Recurring financial charges | 65 | €1,252 | €1,747 | +€495 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €113,083 | €85,808 | -€27,275 | -24.1% |
| Income taxes | 67/77 | €26,912 | €23,619 | -€3,293 | -12.2% |
| Profit (loss) for the period | 9904 | €86,171 | €62,189 | -€23,982 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €86,171 | €62,189 | -€23,982 | -27.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.