D-VAST: 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.
D-VAST
Largest movements
- Cash -€158,294
down €158,294 (-86.4%), from €183,124 to €24,830
mainly Investment in fixed assets (net) (-€81,259) and Tax, wage and social debts (-€54,365)
- Tangible fixed assets +€73,330
up €73,330 (+87.0%), from €84,278 to €157,608
of which Land and buildings: +€73,602
- Receivables within one year +€42,275
up €42,275 (+21.8%), from €194,326 to €236,601
of which Other amounts receivable: +€37,535
- Stocks and contracts +€13,950
new in 2025: €13,950
- Tax, wage and social debts -€54,365
no longer reported in 2025 (was €54,365)
- Other debts +€46,654
up €46,654 (+82.9%), from €56,282 to €102,936
- Reserves -€16,126
down €16,126 (-5.6%), from €285,865 to €269,739
- Gross operating margin -€50,562
down €50,562, from €38,133 to -€12,429
- Financial income +€3,940
up €3,940 (+88.8%), from €4,435 to €8,375
- Financial charges -€3,710
down €3,710 (-70.0%), from €5,301 to €1,591
- Depreciation +€3,644
up €3,644 (+85.1%), from €4,285 to €7,929
- Other operating charges +€2,178
up €2,178 (+582%), from €374 to €2,552
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 | €461,727 | €432,989 | -€28,738 | -6.2% |
| Fixed assets | 21/28 | €84,278 | €157,608 | +€73,330 | +87.0% |
| Tangible fixed assets | 22/27 | €84,278 | €157,608 | +€73,330 | +87.0% |
| Land and buildings | 22 | €83,959 | €157,561 | +€73,602 | +87.7% |
| Plant, machinery and equipment | 23 | €319 | €48 | -€271 | -85.1% |
| Current assets | 29/58 | €377,450 | €275,381 | -€102,068 | -27.0% |
| Stocks and contracts in progress | 3 | - | €13,950 | +€13,950 | |
| Stocks | 30/36 | - | €13,950 | +€13,950 | |
| Amounts receivable within one year | 40/41 | €194,326 | €236,601 | +€42,275 | +21.8% |
| Trade receivables | 40 | €2,882 | €7,623 | +€4,741 | +164% |
| Other amounts receivable | 41 | €191,443 | €228,978 | +€37,535 | +19.6% |
| Cash at bank and in hand | 54/58 | €183,124 | €24,830 | -€158,294 | -86.4% |
| Total equity and liabilities | 10/49 | €461,727 | €432,989 | -€28,738 | -6.2% |
| Equity | 10/15 | €345,865 | €329,739 | -€16,126 | -4.7% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €285,865 | €269,739 | -€16,126 | -5.6% |
| Distributable reserves | 133 | €285,865 | €269,739 | -€16,126 | -5.6% |
| Amounts payable | 17/49 | €115,862 | €103,250 | -€12,612 | -10.9% |
| Amounts payable within one year | 42/48 | €115,862 | €103,250 | -€12,612 | -10.9% |
| Trade debts | 44 | €1,729 | €314 | -€1,414 | -81.8% |
| Suppliers | 440/4 | €1,729 | €314 | -€1,414 | -81.8% |
| Advances received on contracts in progress | 46 | €3,487 | - | -€3,487 | |
| Taxes, remuneration and social security | 45 | €54,365 | - | -€54,365 | |
| Taxes | 450/3 | €54,365 | - | -€54,365 | |
| Other amounts payable | 47/48 | €56,282 | €102,936 | +€46,654 | +82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,285 | €7,929 | +€3,644 | +85.1% |
| Other operating charges | 640/8 | €374 | €2,552 | +€2,178 | +582% |
| Non-recurring operating charges | 66A | €26,047 | - | -€26,047 | |
| Gross operating margin | 9900 | €38,133 | -€12,429 | -€50,562 | |
| Operating profit (loss) | 9901 | €7,427 | -€22,909 | -€30,337 | |
| Financial income | 75/76B | €4,435 | €8,375 | +€3,940 | +88.8% |
| Recurring financial income | 75 | €4,435 | €8,375 | +€3,940 | +88.8% |
| Financial charges | 65/66B | €5,301 | €1,591 | -€3,710 | -70.0% |
| Recurring financial charges | 65 | €5,301 | €1,591 | -€3,710 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €6,561 | -€16,126 | -€22,687 | |
| Income taxes | 67/77 | €1,174 | €0 | -€1,174 | -100.0% |
| Profit (loss) for the period | 9904 | €5,386 | -€16,126 | -€21,512 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,386 | -€16,126 | -€21,512 |
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 15 October 2026 via checked.be.