V&W ESTATE: what changed
V&W ESTATE
Largest movements
- Tangible fixed assets -€24,240
down €24,240 (-6.1%), from €397,960 to €373,721
- Receivables within one year +€15,100
up €15,100 (+112,774%), from €13 to €15,114
- Cash -€13,416
down €13,416 (-26.1%), from €51,448 to €38,031
mainly Debts after one year (-€52,512) and Receivables within one year (-€15,100)
- Debts after one year -€52,512
down €52,512 (-14.8%), from €355,943 to €303,431
- Reserves +€18,140
up €18,140 (+40.4%), from €44,860 to €63,000
- Current portion of long-term debt +€14,697
up €14,697 (+65.7%), from €22,372 to €37,069
- Advances received -€4,600
no longer reported in 2025 (was €4,600)
- Gross operating margin +€14,435
up €14,435 (+38.6%), from €37,395 to €51,830
- Financial charges -€5,570
down €5,570 (-55.4%), from €10,045 to €4,476
- Taxes +€4,368
new in 2025: €4,368
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 | €449,421 | €426,866 | -€22,556 | -5.0% |
| Fixed assets | 21/28 | €397,960 | €373,721 | -€24,240 | -6.1% |
| Tangible fixed assets | 22/27 | €397,960 | €373,721 | -€24,240 | -6.1% |
| Land and buildings | 22 | €397,960 | €373,721 | -€24,240 | -6.1% |
| Current assets | 29/58 | €51,461 | €53,145 | +€1,684 | +3.3% |
| Amounts receivable within one year | 40/41 | €13 | €15,114 | +€15,100 | +112,774% |
| Other amounts receivable | 41 | €13 | €15,114 | +€15,100 | +112,774% |
| Cash at bank and in hand | 54/58 | €51,448 | €38,031 | -€13,416 | -26.1% |
| Total equity and liabilities | 10/49 | €449,421 | €426,866 | -€22,556 | -5.0% |
| Equity | 10/15 | €65,753 | €81,844 | +€16,091 | +24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,860 | €63,000 | +€18,140 | +40.4% |
| Distributable reserves | 133 | €44,860 | €63,000 | +€18,140 | +40.4% |
| Profit (loss) carried forward | 14 | €2,293 | €244 | -€2,049 | -89.4% |
| Amounts payable | 17/49 | €383,668 | €345,022 | -€38,646 | -10.1% |
| Amounts payable after more than one year | 17 | €355,943 | €303,431 | -€52,512 | -14.8% |
| Financial debts | 170/4 | €355,943 | €303,431 | -€52,512 | -14.8% |
| Amounts payable within one year | 42/48 | €27,725 | €41,591 | +€13,866 | +50.0% |
| Current portion of amounts payable after more than one year | 42 | €22,372 | €37,069 | +€14,697 | +65.7% |
| Trade debts | 44 | €753 | €154 | -€599 | -79.6% |
| Suppliers | 440/4 | €753 | €154 | -€599 | -79.6% |
| Advances received on contracts in progress | 46 | €4,600 | - | -€4,600 | |
| Taxes, remuneration and social security | 45 | - | €4,368 | +€4,368 | |
| Taxes | 450/3 | - | €4,368 | +€4,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,656 | €24,240 | -€416 | -1.7% |
| Other operating charges | 640/8 | €2,577 | €2,655 | +€78 | +3.0% |
| Gross operating margin | 9900 | €37,395 | €51,830 | +€14,435 | +38.6% |
| Operating profit (loss) | 9901 | €10,162 | €24,934 | +€14,772 | +145% |
| Financial charges | 65/66B | €10,045 | €4,476 | -€5,570 | -55.4% |
| Recurring financial charges | 65 | €10,045 | €4,476 | -€5,570 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €117 | €20,459 | +€20,342 | +17,426% |
| Income taxes | 67/77 | - | €4,368 | +€4,368 | |
| Profit (loss) for the period | 9904 | €117 | €16,091 | +€15,974 | +13,685% |
| Profit (loss) for the period to be appropriated | 9905 | €117 | €16,091 | +€15,974 | +13,685% |
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.