VW Systems: 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.
VW Systems
Largest movements
- Cash +€11,561
up €11,561 (+237.7%), from €4,864 to €16,425
mainly Net result for the year (+€28,563) and Tax, wage and social debts (+€5,949)
- Receivables within one year +€10,320
up €10,320 (+21.9%), from €47,043 to €57,363
of which Trade receivables: +€10,319
- Tangible fixed assets -€3,594
down €3,594 (-95.5%), from €3,763 to €169
of which Furniture and vehicles: -€3,508
- Reserves +€28,563
up €28,563 (+143.9%), from €19,847 to €48,411
- Trade debts -€15,536
down €15,536 (-96.5%), from €16,099 to €562
- Tax, wage and social debts +€5,949
up €5,949 (+95.2%), from €6,250 to €12,199
- Gross operating margin +€21,136
up €21,136 (+90.9%), from €23,254 to €44,391
- Taxes +€6,187
up €6,187 (+127.9%), from €4,838 to €11,025
- Depreciation -€1,825
down €1,825 (-33.7%), from €5,419 to €3,594
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 | €80,670 | €99,204 | +€18,534 | +23.0% |
| Fixed assets | 21/28 | €28,763 | €25,169 | -€3,594 | -12.5% |
| Tangible fixed assets | 22/27 | €3,763 | €169 | -€3,594 | -95.5% |
| Plant, machinery and equipment | 23 | €255 | €169 | -€86 | -33.7% |
| Furniture and vehicles | 24 | €3,508 | - | -€3,508 | |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €51,907 | €74,035 | +€22,128 | +42.6% |
| Amounts receivable within one year | 40/41 | €47,043 | €57,363 | +€10,320 | +21.9% |
| Trade receivables | 40 | €47,041 | €57,360 | +€10,319 | +21.9% |
| Other amounts receivable | 41 | €2 | €3 | +€1 | +50.0% |
| Cash at bank and in hand | 54/58 | €4,864 | €16,425 | +€11,561 | +237.7% |
| Deferred charges and accrued income | 490/1 | - | €246 | +€246 | |
| Total equity and liabilities | 10/49 | €80,670 | €99,204 | +€18,534 | +23.0% |
| Equity | 10/15 | €24,847 | €53,411 | +€28,563 | +115.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €19,847 | €48,411 | +€28,563 | +143.9% |
| Distributable reserves | 133 | €19,847 | €48,411 | +€28,563 | +143.9% |
| Amounts payable | 17/49 | €55,823 | €45,793 | -€10,029 | -18.0% |
| Amounts payable within one year | 42/48 | €55,073 | €45,793 | -€9,279 | -16.8% |
| Trade debts | 44 | €16,099 | €562 | -€15,536 | -96.5% |
| Suppliers | 440/4 | €16,099 | €562 | -€15,536 | -96.5% |
| Taxes, remuneration and social security | 45 | €6,250 | €12,199 | +€5,949 | +95.2% |
| Taxes | 450/3 | €6,250 | €12,199 | +€5,949 | +95.2% |
| Other amounts payable | 47/48 | €32,724 | €33,032 | +€308 | +0.9% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,419 | €3,594 | -€1,825 | -33.7% |
| Other operating charges | 640/8 | €893 | €1,167 | +€273 | +30.6% |
| Gross operating margin | 9900 | €23,254 | €44,391 | +€21,136 | +90.9% |
| Operating profit (loss) | 9901 | €16,942 | €39,630 | +€22,688 | +133.9% |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €16,900 | €39,588 | +€22,688 | +134.2% |
| Income taxes | 67/77 | €4,838 | €11,025 | +€6,187 | +127.9% |
| Profit (loss) for the period | 9904 | €12,063 | €28,563 | +€16,501 | +136.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,063 | €28,563 | +€16,501 | +136.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.