VW RECUPE: 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 RECUPE
Largest movements
- Stocks and contracts -€9,750
down €9,750 (-19.4%), from €50,140 to €40,390
- Cash +€5,531
up €5,531 (+192%), from €2,882 to €8,413
mainly Stocks and contracts (+€9,750) and Receivables within one year (+€4,881)
- Receivables within one year -€4,881
down €4,881 (-95.8%), from €5,093 to €212
of which Trade receivables: -€4,854
- Other debts -€16,622
no longer reported in 2025 (was €16,622)
- Tax, wage and social debts +€3,876
up €3,876 (+68.4%), from €5,669 to €9,544
- Profit (loss) carried forward +€3,425
up €3,425 (+10.3%), from €33,249 to €36,674
- Gross operating margin +€1,780
up €1,780 (+42.0%), from €4,243 to €6,023
- Other operating charges +€1,431
up €1,431 (+305%), from €470 to €1,901
- Taxes +€561
new in 2025: €561
- Financial charges -€90
down €90 (-39.7%), from €226 to €137
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 | €75,790 | €66,690 | -€9,100 | -12.0% |
| Fixed assets | 21/28 | €17,675 | €17,675 | = | 0.0% |
| Financial fixed assets | 28 | €17,675 | €17,675 | = | 0.0% |
| Current assets | 29/58 | €58,115 | €49,015 | -€9,100 | -15.7% |
| Stocks and contracts in progress | 3 | €50,140 | €40,390 | -€9,750 | -19.4% |
| Stocks | 30/36 | €50,140 | €40,390 | -€9,750 | -19.4% |
| Amounts receivable within one year | 40/41 | €5,093 | €212 | -€4,881 | -95.8% |
| Trade receivables | 40 | €5,066 | €212 | -€4,854 | -95.8% |
| Other amounts receivable | 41 | €27 | - | -€27 | |
| Cash at bank and in hand | 54/58 | €2,882 | €8,413 | +€5,531 | +192% |
| Total equity and liabilities | 10/49 | €75,790 | €66,690 | -€9,100 | -12.0% |
| Equity | 10/15 | €51,849 | €55,274 | +€3,425 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,249 | €36,674 | +€3,425 | +10.3% |
| Amounts payable | 17/49 | €23,942 | €11,417 | -€12,525 | -52.3% |
| Amounts payable within one year | 42/48 | €23,942 | €11,417 | -€12,525 | -52.3% |
| Trade debts | 44 | €1,651 | €1,872 | +€221 | +13.4% |
| Suppliers | 440/4 | €1,651 | €1,872 | +€221 | +13.4% |
| Taxes, remuneration and social security | 45 | €5,669 | €9,544 | +€3,876 | +68.4% |
| Taxes | 450/3 | €5,669 | €9,544 | +€3,876 | +68.4% |
| Other amounts payable | 47/48 | €16,622 | - | -€16,622 | |
| Other operating charges | 640/8 | €470 | €1,901 | +€1,431 | +305% |
| Gross operating margin | 9900 | €4,243 | €6,023 | +€1,780 | +42.0% |
| Operating profit (loss) | 9901 | €3,773 | €4,122 | +€349 | +9.3% |
| Financial charges | 65/66B | €226 | €137 | -€90 | -39.7% |
| Recurring financial charges | 65 | €226 | €137 | -€90 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €3,547 | €3,986 | +€439 | +12.4% |
| Income taxes | 67/77 | - | €561 | +€561 | |
| Profit (loss) for the period | 9904 | €3,547 | €3,425 | -€122 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,547 | €3,425 | -€122 | -3.4% |
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 18 October 2026 via checked.be.