VDW Energy: what changed
Two financial 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.
VDW Energy
Largest movements
- Tangible fixed assets +€161,887
up €161,887 (+5,900%), from €2,744 to €164,631
of which Land and buildings: +€152,016
- Cash -€101,853
down €101,853 (-98.2%), from €103,701 to €1,849
mainly Investment in fixed assets (net) (-€175,217) and Receivables within one year (-€61,846)
- Receivables within one year +€61,846
up €61,846 (+519%), from €11,923 to €73,769
- Profit (loss) carried forward +€76,621
up €76,621 (+95.3%), from €80,434 to €157,055
- Current portion of long-term debt +€32,223
new in 2025: €32,223
- Debts after one year +€24,890
new in 2025: €24,890
- Tax, wage and social debts -€13,737
down €13,737 (-43.0%), from €31,964 to €18,227
of which Remuneration and social security: -€12,262
- Trade debts +€2,849
up €2,849 (+98.9%), from €2,882 to €5,731
- Gross operating margin +€69,557
up €69,557 (+166%), from €41,798 to €111,355
- Depreciation +€11,892
up €11,892 (+648%), from €1,836 to €13,727
- Taxes +€11,357
up €11,357 (+127%), from €8,930 to €20,287
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.
Derived cash bridge
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 | €123,374 | €244,857 | +€121,483 | +98.5% |
| Formation expenses | 20 | €416 | €18 | -€397 | -95.6% |
| Fixed assets | 21/28 | €7,334 | €169,221 | +€161,887 | +2,207% |
| Tangible fixed assets | 22/27 | €2,744 | €164,631 | +€161,887 | +5,900% |
| Land and buildings | 22 | - | €152,016 | +€152,016 | |
| Plant, machinery and equipment | 23 | €1,853 | €10,903 | +€9,050 | +488% |
| Furniture and vehicles | 24 | €891 | €552 | -€339 | -38.0% |
| Assets under construction and advance payments | 27 | - | €1,160 | +€1,160 | |
| Financial fixed assets | 28 | €4,590 | €4,590 | = | 0.0% |
| Current assets | 29/58 | €115,624 | €75,618 | -€40,006 | -34.6% |
| Amounts receivable within one year | 40/41 | €11,923 | €73,769 | +€61,846 | +519% |
| Trade receivables | 40 | €11,923 | €73,769 | +€61,846 | +519% |
| Cash at bank and in hand | 54/58 | €103,701 | €1,849 | -€101,853 | -98.2% |
| Total equity and liabilities | 10/49 | €123,374 | €244,857 | +€121,483 | +98.5% |
| Equity | 10/15 | €85,434 | €162,055 | +€76,621 | +89.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,434 | €157,055 | +€76,621 | +95.3% |
| Amounts payable | 17/49 | €37,940 | €82,802 | +€44,863 | +118% |
| Amounts payable after more than one year | 17 | - | €24,890 | +€24,890 | |
| Financial debts | 170/4 | - | €24,890 | +€24,890 | |
| Amounts payable within one year | 42/48 | €37,940 | €57,912 | +€19,973 | +52.6% |
| Current portion of amounts payable after more than one year | 42 | - | €32,223 | +€32,223 | |
| Trade debts | 44 | €2,882 | €5,731 | +€2,849 | +98.9% |
| Suppliers | 440/4 | €2,882 | €5,731 | +€2,849 | +98.9% |
| Taxes, remuneration and social security | 45 | €31,964 | €18,227 | -€13,737 | -43.0% |
| Taxes | 450/3 | €14,160 | €12,685 | -€1,476 | -10.4% |
| Remuneration and social security | 454/9 | €17,804 | €5,542 | -€12,262 | -68.9% |
| Other amounts payable | 47/48 | €3,094 | €1,732 | -€1,361 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,836 | €13,727 | +€11,892 | +648% |
| Other operating charges | 640/8 | €516 | €1,230 | +€714 | +138% |
| Gross operating margin | 9900 | €41,798 | €111,355 | +€69,557 | +166% |
| Operating profit (loss) | 9901 | €39,446 | €96,398 | +€56,952 | +144% |
| Financial income | 75/76B | €1,706 | €1,398 | -€308 | -18.0% |
| Recurring financial income | 75 | €1,706 | €1,398 | -€308 | -18.0% |
| Financial charges | 65/66B | €345 | €889 | +€544 | +158% |
| Recurring financial charges | 65 | €345 | €889 | +€544 | +158% |
| Profit (loss) for the period before taxes | 9903 | €40,807 | €96,907 | +€56,100 | +137% |
| Income taxes | 67/77 | €8,930 | €20,287 | +€11,357 | +127% |
| Profit (loss) for the period | 9904 | €31,877 | €76,621 | +€44,743 | +140% |
| Profit (loss) for the period to be appropriated | 9905 | €31,877 | €76,621 | +€44,743 | +140% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.