VG MOTOR: 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.
VG MOTOR
Largest movements
- Receivables within one year -€47,731
down €47,731 (-23.0%), from €207,537 to €159,806
of which Trade receivables: -€52,308
- Cash -€35,852
down €35,852 (-90.4%), from €39,662 to €3,810
mainly Advances received (-€140,517) and Investment in fixed assets (net) (-€62,604)
- Receivables after one year +€22,565
up €22,565 (+35.9%), from €62,825 to €85,390
- Tangible fixed assets +€20,631
up €20,631 (+21.9%), from €94,351 to €114,981
of which Furniture and vehicles: +€22,381
- Stocks and contracts +€7,576
up €7,576 (+3.3%), from €226,695 to €234,272
- Advances received -€140,517
down €140,517 (-83.4%), from €168,412 to €27,895
- Profit (loss) carried forward +€49,899
up €49,899 (+204%), from €24,447 to €74,347
- Short-term financial debts +€36,284
new in 2025: €36,284
- Debts after one year +€33,665
up €33,665 (+67.3%), from €50,052 to €83,717
of which Financial debts: +€37,067
- Other debts +€20,000
up €20,000 (+57.1%), from €35,000 to €55,000
- Gross operating margin +€56,723
up €56,723 (+22.0%), from €257,495 to €314,218
- Staff costs +€48,066
up €48,066 (+46.5%), from €103,466 to €151,532
- Write-downs -€33,364
down €33,364, from €30,378 to -€2,985
- Depreciation +€20,433
up €20,433 (+99.5%), from €20,540 to €40,973
- Taxes +€5,557
up €5,557 (+43.6%), from €12,757 to €18,315
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 | €638,424 | €611,641 | -€26,783 | -4.2% |
| Fixed assets | 21/28 | €94,526 | €116,156 | +€21,631 | +22.9% |
| Tangible fixed assets | 22/27 | €94,351 | €114,981 | +€20,631 | +21.9% |
| Land and buildings | 22 | €14,929 | €13,417 | -€1,513 | -10.1% |
| Plant, machinery and equipment | 23 | €10,032 | €10,163 | +€130 | +1.3% |
| Furniture and vehicles | 24 | €66,371 | €88,752 | +€22,381 | +33.7% |
| Other tangible fixed assets | 26 | €3,018 | €2,650 | -€369 | -12.2% |
| Financial fixed assets | 28 | €175 | €1,175 | +€1,000 | +571% |
| Current assets | 29/58 | €543,898 | €495,485 | -€48,413 | -8.9% |
| Amounts receivable after more than one year | 29 | €62,825 | €85,390 | +€22,565 | +35.9% |
| Other amounts receivable | 291 | €62,825 | €85,390 | +€22,565 | +35.9% |
| Stocks and contracts in progress | 3 | €226,695 | €234,272 | +€7,576 | +3.3% |
| Stocks | 30/36 | €226,695 | €234,272 | +€7,576 | +3.3% |
| Amounts receivable within one year | 40/41 | €207,537 | €159,806 | -€47,731 | -23.0% |
| Trade receivables | 40 | €207,537 | €155,229 | -€52,308 | -25.2% |
| Other amounts receivable | 41 | - | €4,577 | +€4,577 | |
| Cash at bank and in hand | 54/58 | €39,662 | €3,810 | -€35,852 | -90.4% |
| Deferred charges and accrued income | 490/1 | €7,178 | €12,207 | +€5,028 | +70.0% |
| Total equity and liabilities | 10/49 | €638,424 | €611,641 | -€26,783 | -4.2% |
| Equity | 10/15 | €30,647 | €80,547 | +€49,899 | +163% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,447 | €74,347 | +€49,899 | +204% |
| Amounts payable | 17/49 | €607,776 | €531,094 | -€76,682 | -12.6% |
| Amounts payable after more than one year | 17 | €50,052 | €83,717 | +€33,665 | +67.3% |
| Financial debts | 170/4 | €24,666 | €61,734 | +€37,067 | +150% |
| Other amounts payable | 178/9 | €25,386 | €21,984 | -€3,403 | -13.4% |
| Amounts payable within one year | 42/48 | €557,724 | €447,377 | -€110,347 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €9,537 | €21,687 | +€12,151 | +127% |
| Financial debts | 43 | - | €36,284 | +€36,284 | |
| Other loans | 439 | - | €36,284 | +€36,284 | |
| Trade debts | 44 | €258,577 | €239,406 | -€19,171 | -7.4% |
| Suppliers | 440/4 | €258,577 | €239,406 | -€19,171 | -7.4% |
| Advances received on contracts in progress | 46 | €168,412 | €27,895 | -€140,517 | -83.4% |
| Taxes, remuneration and social security | 45 | €86,198 | €67,104 | -€19,094 | -22.2% |
| Taxes | 450/3 | €64,544 | €50,101 | -€14,443 | -22.4% |
| Remuneration and social security | 454/9 | €21,653 | €17,003 | -€4,650 | -21.5% |
| Other amounts payable | 47/48 | €35,000 | €55,000 | +€20,000 | +57.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €103,466 | €151,532 | +€48,066 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,540 | €40,973 | +€20,433 | +99.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,378 | -€2,985 | -€33,364 | |
| Other operating charges | 640/8 | €3,841 | €2,071 | -€1,769 | -46.1% |
| Gross operating margin | 9900 | €257,495 | €314,218 | +€56,723 | +22.0% |
| Operating profit (loss) | 9901 | €99,269 | €122,626 | +€23,357 | +23.5% |
| Financial income | 75/76B | €5,071 | €7,547 | +€2,475 | +48.8% |
| Recurring financial income | 75 | €5,071 | €7,547 | +€2,475 | +48.8% |
| Financial charges | 65/66B | €4,549 | €6,958 | +€2,410 | +53.0% |
| Recurring financial charges | 65 | €4,549 | €6,958 | +€2,410 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €99,791 | €123,214 | +€23,423 | +23.5% |
| Income taxes | 67/77 | €12,757 | €18,315 | +€5,557 | +43.6% |
| Profit (loss) for the period | 9904 | €87,034 | €104,899 | +€17,865 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,034 | €104,899 | +€17,865 | +20.5% |
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 21 October 2026 via checked.be.