VVTW: what changed
Two fiscal 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.
VVTW
Largest movements
- Cash +€124,379
up €124,379 (+29.5%), from €421,071 to €545,450
mainly Advances received (+€46,075) and Tax, wage and social debts (+€44,953)
- Receivables within one year +€15,552
up €15,552 (+62.4%), from €24,932 to €40,483
of which Trade receivables: +€21,317
- Advances received +€46,075
up €46,075 (+77.8%), from €59,225 to €105,300
- Tax, wage and social debts +€44,953
up €44,953 (+71.4%), from €62,967 to €107,920
of which Remuneration and social security: +€34,704
- Profit (loss) carried forward +€27,213
up €27,213 (+25.8%), from €105,548 to €132,761
- Accrued charges and deferred income +€22,661
up €22,661 (+15.2%), from €149,448 to €172,108
- Debts after one year -€10,667
down €10,667 (-23.2%), from €45,981 to €35,314
- Gross operating margin +€123,505
up €123,505 (+37.5%), from €329,218 to €452,723
- Staff costs +€92,326
up €92,326 (+30.0%), from €307,361 to €399,687
- Taxes +€5,576
up €5,576 (+54.4%), from €10,244 to €15,820
- Write-downs -€4,976
new in 2025: -€4,976
- Other operating charges +€4,934
up €4,934 (+239.5%), from €2,060 to €6,993
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.
Cash bridge derived
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 | €482,769 | €621,002 | +€138,233 | +28.6% |
| Fixed assets | 21/28 | €20,617 | €16,177 | -€4,441 | -21.5% |
| Intangible fixed assets | 21 | €3,792 | €4,398 | +€607 | +16.0% |
| Tangible fixed assets | 22/27 | €16,826 | €11,118 | -€5,708 | -33.9% |
| Furniture and vehicles | 24 | €16,826 | €11,118 | -€5,708 | -33.9% |
| Financial fixed assets | 28 | - | €661 | +€661 | |
| Current assets | 29/58 | €462,152 | €604,825 | +€142,673 | +30.9% |
| Amounts receivable within one year | 40/41 | €24,932 | €40,483 | +€15,552 | +62.4% |
| Trade receivables | 40 | €13,005 | €34,323 | +€21,317 | +163.9% |
| Other amounts receivable | 41 | €11,926 | €6,161 | -€5,766 | -48.3% |
| Cash at bank and in hand | 54/58 | €421,071 | €545,450 | +€124,379 | +29.5% |
| Deferred charges and accrued income | 490/1 | €16,149 | €18,892 | +€2,743 | +17.0% |
| Total equity and liabilities | 10/49 | €482,769 | €621,002 | +€138,233 | +28.6% |
| Equity | 10/15 | €127,208 | €154,421 | +€27,213 | +21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,060 | €3,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,200 | €1,200 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,548 | €132,761 | +€27,213 | +25.8% |
| Amounts payable | 17/49 | €355,561 | €466,581 | +€111,019 | +31.2% |
| Amounts payable after more than one year | 17 | €45,981 | €35,314 | -€10,667 | -23.2% |
| Financial debts | 170/4 | €45,981 | €35,314 | -€10,667 | -23.2% |
| Amounts payable within one year | 42/48 | €160,133 | €259,158 | +€99,026 | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €10,442 | €10,667 | +€224 | +2.1% |
| Trade debts | 44 | €27,485 | €35,257 | +€7,773 | +28.3% |
| Suppliers | 440/4 | €27,485 | €35,257 | +€7,773 | +28.3% |
| Advances received on contracts in progress | 46 | €59,225 | €105,300 | +€46,075 | +77.8% |
| Taxes, remuneration and social security | 45 | €62,967 | €107,920 | +€44,953 | +71.4% |
| Taxes | 450/3 | €4,900 | €15,149 | +€10,249 | +209.2% |
| Remuneration and social security | 454/9 | €58,067 | €92,771 | +€34,704 | +59.8% |
| Other amounts payable | 47/48 | €14 | €14 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €149,448 | €172,108 | +€22,661 | +15.2% |
| Remuneration, social security and pensions | 62 | €307,361 | €399,687 | +€92,326 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,462 | €9,668 | +€2,206 | +29.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,976 | -€4,976 | |
| Other operating charges | 640/8 | €2,060 | €6,993 | +€4,934 | +239.5% |
| Gross operating margin | 9900 | €329,218 | €452,723 | +€123,505 | +37.5% |
| Operating profit (loss) | 9901 | €12,336 | €41,351 | +€29,015 | +235.2% |
| Financial income | 75/76B | €5,365 | €8,333 | +€2,968 | +55.3% |
| Recurring financial income | 75 | €5,365 | €8,333 | +€2,968 | +55.3% |
| Financial charges | 65/66B | €5,742 | €6,650 | +€908 | +15.8% |
| Recurring financial charges | 65 | €5,742 | €6,650 | +€908 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €11,958 | €43,034 | +€31,075 | +259.9% |
| Income taxes | 67/77 | €10,244 | €15,820 | +€5,576 | +54.4% |
| Profit (loss) for the period | 9904 | €1,714 | €27,213 | +€25,499 | +1487.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,714 | €27,213 | +€25,499 | +1487.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.