VVM WESTKUST: 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.
VVM WESTKUST
Largest movements
- Cash +€161,912
up €161,912 (+275%), from €58,969 to €220,880
mainly Net result for the year (+€192,541) and Other debts (+€180,469)
- Receivables within one year +€113,260
up €113,260 (+42.0%), from €269,367 to €382,627
of which Trade receivables: +€113,260
- Tangible fixed assets -€73,609
down €73,609 (-24.5%), from €301,052 to €227,443
of which Other tangible fixed assets: -€38,038
- Other debts +€180,469
up €180,469, from €0 to €180,469
- Debts after one year -€72,901
down €72,901 (-18.5%), from €394,299 to €321,398
of which Financial debts: -€40,101
- Trade debts +€45,215
up €45,215 (+40.7%), from €111,051 to €156,266
- Tax, wage and social debts +€32,643
up €32,643 (+137%), from €23,863 to €56,505
of which Taxes: +€27,434
- Reserves +€12,900
up €12,900 (+28.0%), from €46,000 to €58,900
- Gross operating margin +€170,364
up €170,364 (+84.2%), from €202,335 to €372,699
- Provisions +€56,558
up €56,558, from -€56,558 to €0
- Depreciation -€53,633
down €53,633 (-40.7%), from €131,641 to €78,007
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 | €636,406 | €833,657 | +€197,251 | +31.0% |
| Fixed assets | 21/28 | €305,450 | €227,443 | -€78,007 | -25.5% |
| Intangible fixed assets | 21 | €4,398 | €0 | -€4,398 | -100% |
| Tangible fixed assets | 22/27 | €301,052 | €227,443 | -€73,609 | -24.5% |
| Plant, machinery and equipment | 23 | €3,991 | €566 | -€3,425 | -85.8% |
| Furniture and vehicles | 24 | €65,275 | €33,129 | -€32,147 | -49.2% |
| Other tangible fixed assets | 26 | €231,786 | €193,748 | -€38,038 | -16.4% |
| Current assets | 29/58 | €330,956 | €606,214 | +€275,259 | +83.2% |
| Amounts receivable within one year | 40/41 | €269,367 | €382,627 | +€113,260 | +42.0% |
| Trade receivables | 40 | €267,751 | €381,011 | +€113,260 | +42.3% |
| Other amounts receivable | 41 | €1,616 | €1,616 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,969 | €220,880 | +€161,912 | +275% |
| Deferred charges and accrued income | 490/1 | €2,620 | €2,707 | +€87 | +3.3% |
| Total equity and liabilities | 10/49 | €636,406 | €833,657 | +€197,251 | +31.0% |
| Equity | 10/15 | €66,377 | €78,918 | +€12,541 | +18.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €46,000 | €58,900 | +€12,900 | +28.0% |
| Distributable reserves | 133 | €46,000 | €58,900 | +€12,900 | +28.0% |
| Profit (loss) carried forward | 14 | €377 | €18 | -€359 | -95.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €570,029 | €754,740 | +€184,710 | +32.4% |
| Amounts payable after more than one year | 17 | €394,299 | €321,398 | -€72,901 | -18.5% |
| Financial debts | 170/4 | €81,495 | €41,393 | -€40,101 | -49.2% |
| Other amounts payable | 178/9 | €312,804 | €280,005 | -€32,799 | -10.5% |
| Amounts payable within one year | 42/48 | €175,456 | €433,341 | +€257,886 | +147% |
| Current portion of amounts payable after more than one year | 42 | €40,542 | €40,101 | -€441 | -1.1% |
| Trade debts | 44 | €111,051 | €156,266 | +€45,215 | +40.7% |
| Suppliers | 440/4 | €111,051 | €156,266 | +€45,215 | +40.7% |
| Taxes, remuneration and social security | 45 | €23,863 | €56,505 | +€32,643 | +137% |
| Taxes | 450/3 | €23,357 | €50,791 | +€27,434 | +117% |
| Remuneration and social security | 454/9 | €505 | €5,714 | +€5,209 | +1,031% |
| Other amounts payable | 47/48 | €0 | €180,469 | +€180,469 | |
| Accrued charges and deferred income | 492/3 | €275 | €0 | -€275 | -100% |
| Remuneration, social security and pensions | 62 | €77,732 | €79,139 | +€1,408 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,641 | €78,007 | -€53,633 | -40.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€56,558 | €0 | +€56,558 | |
| Other operating charges | 640/8 | €2,703 | €2,854 | +€151 | +5.6% |
| Non-recurring operating charges | 66A | €60,147 | €3,000 | -€57,147 | -95.0% |
| Gross operating margin | 9900 | €202,335 | €372,699 | +€170,364 | +84.2% |
| Operating profit (loss) | 9901 | -€13,330 | €209,699 | +€223,028 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €14,313 | €14,003 | -€310 | -2.2% |
| Recurring financial charges | 65 | €14,313 | €14,003 | -€310 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€27,640 | €195,695 | +€223,335 | |
| Income taxes | 67/77 | €397 | €3,154 | +€2,757 | +694% |
| Profit (loss) for the period | 9904 | -€28,037 | €192,541 | +€220,578 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,037 | €192,541 | +€220,578 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.