WVG: 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.
WVG
Largest movements
- Tangible fixed assets +€13,908
up €13,908 (+15.5%), from €89,992 to €103,900
of which Furniture and vehicles: +€16,600
- Receivables within one year +€5,141
up €5,141 (+7.0%), from €73,204 to €78,344
of which Trade receivables: +€15,390
- Other debts +€40,000
new in 2025: €40,000
- Reserves -€33,982
down €33,982 (-22.5%), from €151,000 to €117,018
of which Distributable reserves: -€75,943
- Debts after one year +€13,141
new in 2025: €13,141
- Gross operating margin +€6,003
up €6,003 (+8.9%), from €67,257 to €73,260
- Depreciation +€4,492
up €4,492 (+105%), from €4,286 to €8,778
- Other operating charges -€1,866
down €1,866 (-45.8%), from €4,073 to €2,207
- Financial charges -€1,177
down €1,177 (-16.6%), from €7,081 to €5,904
- Taxes +€744
up €744 (+4.7%), from €15,923 to €16,666
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 | €175,541 | €195,295 | +€19,754 | +11.3% |
| Fixed assets | 21/28 | €89,992 | €103,900 | +€13,908 | +15.5% |
| Tangible fixed assets | 22/27 | €89,992 | €103,900 | +€13,908 | +15.5% |
| Land and buildings | 22 | €79,238 | €77,345 | -€1,894 | -2.4% |
| Plant, machinery and equipment | 23 | €5,148 | €4,349 | -€799 | -15.5% |
| Furniture and vehicles | 24 | €5,606 | €22,206 | +€16,600 | +296% |
| Current assets | 29/58 | €85,549 | €91,395 | +€5,846 | +6.8% |
| Amounts receivable within one year | 40/41 | €73,204 | €78,344 | +€5,141 | +7.0% |
| Trade receivables | 40 | €28,333 | €43,724 | +€15,390 | +54.3% |
| Other amounts receivable | 41 | €44,870 | €34,621 | -€10,250 | -22.8% |
| Cash at bank and in hand | 54/58 | €7,510 | €8,282 | +€772 | +10.3% |
| Deferred charges and accrued income | 490/1 | €4,835 | €4,769 | -€66 | -1.4% |
| Total equity and liabilities | 10/49 | €175,541 | €195,295 | +€19,754 | +11.3% |
| Equity | 10/15 | €152,057 | €118,018 | -€34,039 | -22.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €151,000 | €117,018 | -€33,982 | -22.5% |
| Non-distributable reserves | 130/1 | - | €41,961 | +€41,961 | |
| Other | 1319 | - | €41,961 | +€41,961 | |
| Distributable reserves | 133 | €151,000 | €75,057 | -€75,943 | -50.3% |
| Profit (loss) carried forward | 14 | €57 | - | -€57 | |
| Amounts payable | 17/49 | €23,484 | €77,277 | +€53,793 | +229% |
| Amounts payable after more than one year | 17 | - | €13,141 | +€13,141 | |
| Financial debts | 170/4 | - | €13,141 | +€13,141 | |
| Amounts payable within one year | 42/48 | €22,476 | €63,591 | +€41,115 | +183% |
| Current portion of amounts payable after more than one year | 42 | - | €961 | +€961 | |
| Financial debts | 43 | €5,752 | €4,139 | -€1,613 | -28.0% |
| Credit institutions | 430/8 | €5,752 | €4,139 | -€1,613 | -28.0% |
| Trade debts | 44 | €6,047 | €5,874 | -€173 | -2.9% |
| Suppliers | 440/4 | €6,047 | €5,874 | -€173 | -2.9% |
| Taxes, remuneration and social security | 45 | €10,678 | €12,617 | +€1,940 | +18.2% |
| Taxes | 450/3 | €8,678 | €12,617 | +€3,940 | +45.4% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | - | €40,000 | +€40,000 | |
| Accrued charges and deferred income | 492/3 | €1,008 | €544 | -€464 | -46.0% |
| Non-recurring operating income | 76A | €10 | €7,805 | +€7,795 | +78,734% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,286 | €8,778 | +€4,492 | +105% |
| Other operating charges | 640/8 | €4,073 | €2,207 | -€1,866 | -45.8% |
| Non-recurring operating charges | 66A | €748 | €170 | -€579 | -77.3% |
| Gross operating margin | 9900 | €67,257 | €73,260 | +€6,003 | +8.9% |
| Operating profit (loss) | 9901 | €58,150 | €62,105 | +€3,955 | +6.8% |
| Financial income | 75/76B | €2,115 | €2,427 | +€312 | +14.7% |
| Recurring financial income | 75 | €2,115 | €2,427 | +€312 | +14.7% |
| Financial charges | 65/66B | €7,081 | €5,904 | -€1,177 | -16.6% |
| Recurring financial charges | 65 | €7,081 | €5,904 | -€1,177 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €53,183 | €58,627 | +€5,444 | +10.2% |
| Income taxes | 67/77 | €15,923 | €16,666 | +€744 | +4.7% |
| Profit (loss) for the period | 9904 | €37,260 | €41,961 | +€4,701 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,260 | €41,961 | +€4,701 | +12.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.