VW MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€17,708
up €17,708 (+101%), from €17,594 to €35,302
mainly Net result for the year (+€13,569) and Investment in fixed assets (net) (+€11,646)
- Tangible fixed assets -€14,480
down €14,480 (-76.4%), from €18,956 to €4,476
- Receivables within one year +€6,236
up €6,236 (+5,111%), from €122 to €6,358
of which Other amounts receivable: +€6,181
- Deferred charges and accrued income -€2,528
down €2,528 (-90.2%), from €2,804 to €276
- Profit (loss) carried forward +€13,569
up €13,569 (+1,338%), from €1,014 to €14,583
- Trade debts -€10,068
down €10,068 (-63.4%), from €15,868 to €5,800
- Tax, wage and social debts +€3,659
up €3,659 (+21.9%), from €16,711 to €20,370
- Gross operating margin -€69,704
down €69,704 (-72.3%), from €96,469 to €26,765
- Depreciation -€23,443
down €23,443 (-89.2%), from €26,277 to €2,834
- Financial charges -€4,380
down €4,380 (-97.6%), from €4,490 to €110
- Taxes -€2,011
down €2,011 (-74.3%), from €2,707 to €696
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 | €39,476 | €46,412 | +€6,936 | +17.6% |
| Fixed assets | 21/28 | €18,956 | €4,476 | -€14,480 | -76.4% |
| Tangible fixed assets | 22/27 | €18,956 | €4,476 | -€14,480 | -76.4% |
| Furniture and vehicles | 24 | €18,956 | €4,476 | -€14,480 | -76.4% |
| Current assets | 29/58 | €20,520 | €41,936 | +€21,416 | +104% |
| Amounts receivable within one year | 40/41 | €122 | €6,358 | +€6,236 | +5,111% |
| Trade receivables | 40 | - | €55 | +€55 | |
| Other amounts receivable | 41 | €122 | €6,303 | +€6,181 | +5,066% |
| Cash at bank and in hand | 54/58 | €17,594 | €35,302 | +€17,708 | +101% |
| Deferred charges and accrued income | 490/1 | €2,804 | €276 | -€2,528 | -90.2% |
| Total equity and liabilities | 10/49 | €39,476 | €46,412 | +€6,936 | +17.6% |
| Equity | 10/15 | €6,014 | €19,583 | +€13,569 | +226% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,014 | €14,583 | +€13,569 | +1,338% |
| Amounts payable | 17/49 | €33,462 | €26,829 | -€6,633 | -19.8% |
| Amounts payable within one year | 42/48 | €33,462 | €26,829 | -€6,633 | -19.8% |
| Financial debts | 43 | €883 | €659 | -€224 | -25.4% |
| Other loans | 439 | €883 | €659 | -€224 | -25.4% |
| Trade debts | 44 | €15,868 | €5,800 | -€10,068 | -63.4% |
| Suppliers | 440/4 | €15,868 | €5,800 | -€10,068 | -63.4% |
| Taxes, remuneration and social security | 45 | €16,711 | €20,370 | +€3,659 | +21.9% |
| Taxes | 450/3 | €16,711 | €20,370 | +€3,659 | +21.9% |
| Non-recurring operating income | 76A | - | €5,856 | +€5,856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,277 | €2,834 | -€23,443 | -89.2% |
| Other operating charges | 640/8 | €9,579 | €9,556 | -€23 | -0.2% |
| Gross operating margin | 9900 | €96,469 | €26,765 | -€69,704 | -72.3% |
| Operating profit (loss) | 9901 | €60,613 | €14,375 | -€46,238 | -76.3% |
| Financial charges | 65/66B | €4,490 | €110 | -€4,380 | -97.6% |
| Recurring financial charges | 65 | €4,490 | €110 | -€4,380 | -97.6% |
| Profit (loss) for the period before taxes | 9903 | €56,123 | €14,265 | -€41,858 | -74.6% |
| Income taxes | 67/77 | €2,707 | €696 | -€2,011 | -74.3% |
| Profit (loss) for the period | 9904 | €53,416 | €13,569 | -€39,847 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,416 | €13,569 | -€39,847 | -74.6% |
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 14 October 2026 via checked.be.