V MOTORS: what changed
V MOTORS
Largest movements
- Stocks and contracts +€1.1m
up €1.1m (+45.4%), from €2.4m to €3.4m
- Cash +€304,310
up €304,310 (+1,048%), from €29,041 to €333,351
mainly Debts after one year (+€1.0m) and Net result for the year (+€341,748)
- Receivables within one year +€277,769
up €277,769 (+42.0%), from €661,971 to €939,740
of which Other amounts receivable: +€163,500
- Tangible fixed assets +€72,038
up €72,038 (+156%), from €46,032 to €118,070
of which Plant, machinery and equipment: +€76,927
- Debts after one year +€1.0m
up €1.0m (+123%), from €830,432 to €1.9m
- Reserves +€341,748
up €341,748 (+30.7%), from €1.1m to €1.5m
of which Distributable reserves: +€341,748
- Short-term financial debts +€200,000
up €200,000 (+28.6%), from €700,000 to €900,000
- Tax, wage and social debts +€140,808
up €140,808 (+78.3%), from €179,895 to €320,704
of which Taxes: +€127,441
- Current portion of long-term debt +€114,805
up €114,805 (+74.6%), from €153,903 to €268,708
- Gross operating margin +€281,434
up €281,434 (+36.3%), from €774,689 to €1.1m
- Staff costs +€133,687
up €133,687 (+47.8%), from €279,500 to €413,187
- Taxes +€39,378
up €39,378 (+31.5%), from €124,844 to €164,222
- Financial charges +€14,915
up €14,915 (+16.2%), from €92,087 to €107,002
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 | €3,093,490 | €4,820,524 | +€1.7m | +55.8% |
| Fixed assets | 21/28 | €46,181 | €118,219 | +€72,038 | +156% |
| Tangible fixed assets | 22/27 | €46,032 | €118,070 | +€72,038 | +156% |
| Land and buildings | 22 | €9,923 | €8,621 | -€1,302 | -13.1% |
| Plant, machinery and equipment | 23 | €25,852 | €102,778 | +€76,927 | +298% |
| Furniture and vehicles | 24 | €10,258 | €6,671 | -€3,587 | -35.0% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €3,047,309 | €4,702,305 | +€1.7m | +54.3% |
| Stocks and contracts in progress | 3 | €2,356,297 | €3,426,372 | +€1.1m | +45.4% |
| Stocks | 30/36 | €2,356,297 | €3,426,372 | +€1.1m | +45.4% |
| Amounts receivable within one year | 40/41 | €661,971 | €939,740 | +€277,769 | +42.0% |
| Trade receivables | 40 | €450,686 | €564,956 | +€114,269 | +25.4% |
| Other amounts receivable | 41 | €211,284 | €374,784 | +€163,500 | +77.4% |
| Cash at bank and in hand | 54/58 | €29,041 | €333,351 | +€304,310 | +1,048% |
| Deferred charges and accrued income | 490/1 | - | €2,843 | +€2,843 | |
| Total equity and liabilities | 10/49 | €3,093,490 | €4,820,524 | +€1.7m | +55.8% |
| Equity | 10/15 | €1,132,206 | €1,473,954 | +€341,748 | +30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,113,606 | €1,455,354 | +€341,748 | +30.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,111,746 | €1,453,494 | +€341,748 | +30.7% |
| Amounts payable | 17/49 | €1,961,284 | €3,346,570 | +€1.4m | +70.6% |
| Amounts payable after more than one year | 17 | €830,432 | €1,852,345 | +€1.0m | +123% |
| Financial debts | 170/4 | €830,432 | €1,852,345 | +€1.0m | +123% |
| Amounts payable within one year | 42/48 | €1,039,022 | €1,494,225 | +€455,203 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €153,903 | €268,708 | +€114,805 | +74.6% |
| Financial debts | 43 | €700,000 | €900,000 | +€200,000 | +28.6% |
| Credit institutions | 430/8 | €700,000 | €900,000 | +€200,000 | +28.6% |
| Trade debts | 44 | €4,212 | €4,814 | +€601 | +14.3% |
| Suppliers | 440/4 | €4,212 | €4,814 | +€601 | +14.3% |
| Taxes, remuneration and social security | 45 | €179,895 | €320,704 | +€140,808 | +78.3% |
| Taxes | 450/3 | €158,160 | €285,601 | +€127,441 | +80.6% |
| Remuneration and social security | 454/9 | €21,736 | €35,103 | +€13,367 | +61.5% |
| Other amounts payable | 47/48 | €1,011 | - | -€1,011 | |
| Accrued charges and deferred income | 492/3 | €91,830 | - | -€91,830 | |
| Non-recurring operating income | 76A | €2,716 | €3,534 | +€818 | +30.1% |
| Remuneration, social security and pensions | 62 | €279,500 | €413,187 | +€133,687 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,407 | €12,464 | +€2,056 | +19.8% |
| Other operating charges | 640/8 | €15,942 | €17,500 | +€1,558 | +9.8% |
| Gross operating margin | 9900 | €774,689 | €1,056,122 | +€281,434 | +36.3% |
| Operating profit (loss) | 9901 | €468,839 | €612,972 | +€144,132 | +30.7% |
| Financial income | 75/76B | €469 | - | -€469 | |
| Recurring financial income | 75 | €469 | - | -€469 | |
| Financial charges | 65/66B | €92,087 | €107,002 | +€14,915 | +16.2% |
| Recurring financial charges | 65 | €92,087 | €107,002 | +€14,915 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €377,221 | €505,970 | +€128,749 | +34.1% |
| Income taxes | 67/77 | €124,844 | €164,222 | +€39,378 | +31.5% |
| Profit (loss) for the period | 9904 | €252,377 | €341,748 | +€89,371 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €252,377 | €341,748 | +€89,371 | +35.4% |
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 1 November 2026 via checked.be.