vW-Werken: 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-Werken
Largest movements
- Receivables within one year -€115,477
down €115,477 (-48.7%), from €237,263 to €121,786
of which Other amounts receivable: -€130,713
- Stocks and contracts +€23,677
new in 2025: €23,677
- Tangible fixed assets +€15,821
up €15,821 (+90.1%), from €17,555 to €33,375
of which Furniture and vehicles: +€13,387
- Deferred charges and accrued income -€8,617
down €8,617 (-84.5%), from €10,202 to €1,585
- Reserves -€67,614
down €67,614 (-40.6%), from €166,416 to €98,802
- Tax, wage and social debts -€42,522
down €42,522 (-89.4%), from €47,557 to €5,036
of which Taxes: -€40,522
- Profit (loss) carried forward +€27,786
no longer reported in 2025 (was -€27,786)
- Trade debts +€7,368
up €7,368 (+23.6%), from €31,168 to €38,536
- Debts after one year -€5,775
down €5,775 (-35.3%), from €16,365 to €10,590
- Depreciation +€4,223
up €4,223 (+78.8%), from €5,356 to €9,579
- Gross operating margin -€3,275
down €3,275 (-11.9%), from €27,472 to €24,197
- Taxes -€3,257
down €3,257 (-72.7%), from €4,478 to €1,221
- Other operating charges -€906
down €906 (-20.0%), from €4,525 to €3,619
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €265,020 | €180,424 | -€84,596 | -31.9% |
| Fixed assets | 21/28 | €17,555 | €33,375 | +€15,821 | +90.1% |
| Tangible fixed assets | 22/27 | €17,555 | €33,375 | +€15,821 | +90.1% |
| Plant, machinery and equipment | 23 | €605 | €3,192 | +€2,587 | +428% |
| Furniture and vehicles | 24 | €16,796 | €30,184 | +€13,387 | +79.7% |
| Other tangible fixed assets | 26 | €154 | - | -€154 | |
| Current assets | 29/58 | €247,465 | €147,048 | -€100,417 | -40.6% |
| Stocks and contracts in progress | 3 | - | €23,677 | +€23,677 | |
| Contracts in progress | 37 | - | €23,677 | +€23,677 | |
| Amounts receivable within one year | 40/41 | €237,263 | €121,786 | -€115,477 | -48.7% |
| Trade receivables | 40 | €32,912 | €48,148 | +€15,236 | +46.3% |
| Other amounts receivable | 41 | €204,351 | €73,638 | -€130,713 | -64.0% |
| Deferred charges and accrued income | 490/1 | €10,202 | €1,585 | -€8,617 | -84.5% |
| Total equity and liabilities | 10/49 | €265,020 | €180,424 | -€84,596 | -31.9% |
| Equity | 10/15 | €157,230 | €117,402 | -€39,828 | -25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €166,416 | €98,802 | -€67,614 | -40.6% |
| Distributable reserves | 133 | €166,416 | €98,802 | -€67,614 | -40.6% |
| Profit (loss) carried forward | 14 | -€27,786 | - | +€27,786 | |
| Amounts payable | 17/49 | €107,790 | €63,022 | -€44,768 | -41.5% |
| Amounts payable after more than one year | 17 | €16,365 | €10,590 | -€5,775 | -35.3% |
| Financial debts | 170/4 | €16,365 | €10,590 | -€5,775 | -35.3% |
| Amounts payable within one year | 42/48 | €91,395 | €52,432 | -€38,963 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €5,377 | €5,775 | +€398 | +7.4% |
| Financial debts | 43 | €7,293 | €3,086 | -€4,207 | -57.7% |
| Credit institutions | 430/8 | €7,293 | €3,086 | -€4,207 | -57.7% |
| Trade debts | 44 | €31,168 | €38,536 | +€7,368 | +23.6% |
| Suppliers | 440/4 | €31,168 | €38,536 | +€7,368 | +23.6% |
| Taxes, remuneration and social security | 45 | €47,557 | €5,036 | -€42,522 | -89.4% |
| Taxes | 450/3 | €45,557 | €5,036 | -€40,522 | -88.9% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Accrued charges and deferred income | 492/3 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,356 | €9,579 | +€4,223 | +78.8% |
| Other operating charges | 640/8 | €4,525 | €3,619 | -€906 | -20.0% |
| Non-recurring operating charges | 66A | - | €4,900 | +€4,900 | |
| Gross operating margin | 9900 | €27,472 | €24,197 | -€3,275 | -11.9% |
| Operating profit (loss) | 9901 | €17,590 | €6,098 | -€11,492 | -65.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €4,738 | €4,822 | +€84 | +1.8% |
| Recurring financial charges | 65 | €4,738 | €4,822 | +€84 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €12,852 | €1,276 | -€11,575 | -90.1% |
| Income taxes | 67/77 | €4,478 | €1,221 | -€3,257 | -72.7% |
| Profit (loss) for the period | 9904 | €8,374 | €55 | -€8,318 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,374 | €55 | -€8,318 | -99.3% |
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.