VWP Group: 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.
VWP Group
Largest movements
- Cash -€2,307
down €2,307 (-94.8%), from €2,433 to €125
mainly Net result for the year (-€6,908) and Investment in fixed assets (net) (-€2,000)
- Receivables within one year -€864
down €864 (-56.0%), from €1,541 to €677
of which Other amounts receivable: -€868
- Formation expenses -€626
down €626 (-28.4%), from €2,203 to €1,578
- Tangible fixed assets +€390
up €390 (+7.7%), from €5,039 to €5,429
of which Furniture and vehicles: +€1,332
- Deferred charges and accrued income +€190
up €190 (+31.2%), from €610 to €801
- Profit (loss) carried forward -€6,908
down €6,908 (-259.6%), from -€2,661 to -€9,569
- Other debts +€2,937
up €2,937 (+53.1%), from €5,527 to €8,464
- Trade debts +€523
up €523 (+17.7%), from €2,960 to €3,483
- Tax, wage and social debts +€231
new in 2025: €231
- Gross operating margin -€3,974
down €3,974 (-1716.4%), from -€232 to -€4,205
- Depreciation +€887
up €887 (+65.7%), from €1,349 to €2,236
- Other operating charges +€325
up €325 (+324.6%), from €100 to €425
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 | €11,826 | €8,610 | -€3,217 | -27.2% |
| Formation expenses | 20 | €2,203 | €1,578 | -€626 | -28.4% |
| Fixed assets | 21/28 | €5,039 | €5,429 | +€390 | +7.7% |
| Tangible fixed assets | 22/27 | €5,039 | €5,429 | +€390 | +7.7% |
| Plant, machinery and equipment | 23 | €4,182 | €3,239 | -€942 | -22.5% |
| Furniture and vehicles | 24 | €857 | €2,190 | +€1,332 | +155.4% |
| Current assets | 29/58 | €4,584 | €1,603 | -€2,981 | -65.0% |
| Amounts receivable within one year | 40/41 | €1,541 | €677 | -€864 | -56.0% |
| Trade receivables | 40 | €673 | €677 | +€4 | +0.6% |
| Other amounts receivable | 41 | €868 | - | -€868 | |
| Cash at bank and in hand | 54/58 | €2,433 | €125 | -€2,307 | -94.8% |
| Deferred charges and accrued income | 490/1 | €610 | €801 | +€190 | +31.2% |
| Total equity and liabilities | 10/49 | €11,826 | €8,610 | -€3,217 | -27.2% |
| Equity | 10/15 | €3,339 | -€3,569 | -€6,908 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,661 | -€9,569 | -€6,908 | -259.6% |
| Amounts payable | 17/49 | €8,487 | €12,178 | +€3,691 | +43.5% |
| Amounts payable within one year | 42/48 | €8,487 | €12,178 | +€3,691 | +43.5% |
| Trade debts | 44 | €2,960 | €3,483 | +€523 | +17.7% |
| Suppliers | 440/4 | €2,960 | €3,483 | +€523 | +17.7% |
| Taxes, remuneration and social security | 45 | - | €231 | +€231 | |
| Taxes | 450/3 | - | €231 | +€231 | |
| Other amounts payable | 47/48 | €5,527 | €8,464 | +€2,937 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,349 | €2,236 | +€887 | +65.7% |
| Other operating charges | 640/8 | €100 | €425 | +€325 | +324.6% |
| Gross operating margin | 9900 | -€232 | -€4,205 | -€3,974 | -1716.4% |
| Operating profit (loss) | 9901 | -€1,681 | -€6,866 | -€5,185 | -308.5% |
| Financial income | 75/76B | €0 | €6 | +€6 | +3458.8% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +3458.8% |
| Financial charges | 65/66B | €46 | €48 | +€1 | +2.9% |
| Recurring financial charges | 65 | €46 | €48 | +€1 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,727 | -€6,908 | -€5,181 | -300.0% |
| Profit (loss) for the period | 9904 | -€1,727 | -€6,908 | -€5,181 | -300.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,727 | -€6,908 | -€5,181 | -300.0% |
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 29 September 2026 via checked.be.