VWcon: 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.
VWcon
Largest movements
- Cash +€34,070
up €34,070 (+142.6%), from €23,895 to €57,965
mainly Net result for the year (+€37,686) and Depreciation (+€14,388)
- Tangible fixed assets -€12,024
down €12,024 (-21.7%), from €55,356 to €43,332
of which Leasing and similar rights: -€9,683
- Formation expenses -€2,364
down €2,364 (-100.0%), from €2,364 to €0
- Reserves +€37,686
up €37,686 (+198.0%), from €19,029 to €56,715
- Other debts -€19,221
down €19,221 (-70.6%), from €27,227 to €8,007
- Tax, wage and social debts +€14,230
up €14,230 (+88.1%), from €16,147 to €30,377
- Debts after one year -€10,390
down €10,390 (-36.5%), from €28,503 to €18,113
- Trade debts -€4,006
down €4,006 (-91.7%), from €4,368 to €363
- Gross operating margin +€34,661
up €34,661 (+115.9%), from €29,899 to €64,560
- Depreciation +€9,916
up €9,916 (+221.7%), from €4,472 to €14,388
- Taxes +€5,605
up €5,605 (+104.7%), from €5,355 to €10,960
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 | €107,828 | €126,464 | +€18,637 | +17.3% |
| Formation expenses | 20 | €2,364 | €0 | -€2,364 | -100.0% |
| Fixed assets | 21/28 | €55,356 | €43,332 | -€12,024 | -21.7% |
| Tangible fixed assets | 22/27 | €55,356 | €43,332 | -€12,024 | -21.7% |
| Plant, machinery and equipment | 23 | €2,045 | €1,311 | -€734 | -35.9% |
| Furniture and vehicles | 24 | €7,701 | €6,094 | -€1,608 | -20.9% |
| Leasing and similar rights | 25 | €45,610 | €35,927 | -€9,683 | -21.2% |
| Current assets | 29/58 | €50,108 | €83,133 | +€33,025 | +65.9% |
| Amounts receivable within one year | 40/41 | €26,214 | €25,168 | -€1,046 | -4.0% |
| Trade receivables | 40 | €26,214 | €25,168 | -€1,046 | -4.0% |
| Cash at bank and in hand | 54/58 | €23,895 | €57,965 | +€34,070 | +142.6% |
| Total equity and liabilities | 10/49 | €107,828 | €126,464 | +€18,637 | +17.3% |
| Equity | 10/15 | €21,529 | €59,215 | +€37,686 | +175.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €19,029 | €56,715 | +€37,686 | +198.0% |
| Distributable reserves | 133 | €19,029 | €56,715 | +€37,686 | +198.0% |
| Amounts payable | 17/49 | €86,298 | €67,249 | -€19,050 | -22.1% |
| Amounts payable after more than one year | 17 | €28,503 | €18,113 | -€10,390 | -36.5% |
| Financial debts | 170/4 | €28,503 | €18,113 | -€10,390 | -36.5% |
| Amounts payable within one year | 42/48 | €57,796 | €49,136 | -€8,660 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €10,053 | €10,390 | +€337 | +3.4% |
| Trade debts | 44 | €4,368 | €363 | -€4,006 | -91.7% |
| Suppliers | 440/4 | €4,368 | €363 | -€4,006 | -91.7% |
| Taxes, remuneration and social security | 45 | €16,147 | €30,377 | +€14,230 | +88.1% |
| Taxes | 450/3 | €16,147 | €30,377 | +€14,230 | +88.1% |
| Other amounts payable | 47/48 | €27,227 | €8,007 | -€19,221 | -70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,472 | €14,388 | +€9,916 | +221.7% |
| Other operating charges | 640/8 | €380 | €321 | -€60 | -15.7% |
| Gross operating margin | 9900 | €29,899 | €64,560 | +€34,661 | +115.9% |
| Operating profit (loss) | 9901 | €25,047 | €49,852 | +€24,805 | +99.0% |
| Financial income | 75/76B | - | €31 | +€31 | |
| Recurring financial income | 75 | - | €31 | +€31 | |
| Financial charges | 65/66B | €662 | €1,237 | +€575 | +86.8% |
| Recurring financial charges | 65 | €662 | €1,237 | +€575 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | €24,384 | €48,646 | +€24,262 | +99.5% |
| Income taxes | 67/77 | €5,355 | €10,960 | +€5,605 | +104.7% |
| Profit (loss) for the period | 9904 | €19,029 | €37,686 | +€18,657 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,029 | €37,686 | +€18,657 | +98.0% |
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 10 October 2026 via checked.be.