VW-Estate: 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.
VW-Estate
Largest movements
- Stocks and contracts +€481,298
up €481,298 (+39.4%), from €1.2m to €1.7m
- Short-term financial debts +€416,104
up €416,104 (+53.1%), from €783,896 to €1.2m
- Other debts +€33,201
up €33,201 (+7.5%), from €440,466 to €473,667
- Trade debts +€28,440
up €28,440 (+332%), from €8,576 to €37,016
- Other operating charges -€387
down €387 (-100%), from €387 to €0
- Financial charges +€166
up €166 (+164%), from €101 to €267
- Gross operating margin +€35
up €35 (+1.1%), from -€3,237 to -€3,202
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 | €1,225,553 | €1,703,727 | +€478,174 | +39.0% |
| Current assets | 29/58 | €1,225,553 | €1,703,727 | +€478,174 | +39.0% |
| Stocks and contracts in progress | 3 | €1,221,282 | €1,702,581 | +€481,298 | +39.4% |
| Stocks | 30/36 | €1,221,282 | €1,702,581 | +€481,298 | +39.4% |
| Cash at bank and in hand | 54/58 | €4,271 | €1,146 | -€3,125 | -73.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,225,553 | €1,703,727 | +€478,174 | +39.0% |
| Equity | 10/15 | -€7,385 | -€10,854 | -€3,469 | -47.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,485 | -€10,954 | -€3,469 | -46.3% |
| Amounts payable | 17/49 | €1,232,938 | €1,714,581 | +€481,642 | +39.1% |
| Amounts payable within one year | 42/48 | €1,232,938 | €1,710,683 | +€477,745 | +38.7% |
| Financial debts | 43 | €783,896 | €1,200,000 | +€416,104 | +53.1% |
| Other loans | 439 | €783,896 | €1,200,000 | +€416,104 | +53.1% |
| Trade debts | 44 | €8,576 | €37,016 | +€28,440 | +332% |
| Suppliers | 440/4 | €8,576 | €37,016 | +€28,440 | +332% |
| Other amounts payable | 47/48 | €440,466 | €473,667 | +€33,201 | +7.5% |
| Accrued charges and deferred income | 492/3 | - | €3,898 | +€3,898 | |
| Other operating charges | 640/8 | €387 | €0 | -€387 | -100% |
| Gross operating margin | 9900 | -€3,237 | -€3,202 | +€35 | +1.1% |
| Operating profit (loss) | 9901 | -€3,624 | -€3,202 | +€422 | +11.7% |
| Financial charges | 65/66B | €101 | €267 | +€166 | +164% |
| Recurring financial charges | 65 | €101 | €267 | +€166 | +164% |
| Profit (loss) for the period before taxes | 9903 | -€3,726 | -€3,469 | +€257 | +6.9% |
| Profit (loss) for the period | 9904 | -€3,726 | -€3,469 | +€257 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,726 | -€3,469 | +€257 | +6.9% |
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 19 October 2026 via checked.be.