I - Vestplan: 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.
I - Vestplan
Largest movements
- Cash -€70,248
down €70,248 (-5.7%), from €1.2m to €1.2m
mainly Contributions, distributions and other (-€350,000) and Investment in fixed assets (net) (-€6,092)
- Tangible fixed assets -€49,366
down €49,366 (-3.9%), from €1.3m to €1.2m
of which Land and buildings: -€49,042
- Reserves -€323,513
down €323,513 (-20.9%), from €1.5m to €1.2m
of which Distributable reserves: -€315,660
- Other debts +€181,258
up €181,258 (+124.7%), from €145,339 to €326,597
- Trade debts +€28,696
up €28,696 (+258.5%), from €11,101 to €39,796
- Gross operating margin +€48,879
up €48,879 (+63.5%), from €76,934 to €125,814
- Other operating charges +€39,041
up €39,041 (+670.5%), from €5,823 to €44,863
- Financial income -€8,265
down €8,265 (-33.2%), from €24,928 to €16,664
- Depreciation -€2,417
down €2,417 (-4.2%), from €57,665 to €55,248
- Taxes +€2,008
up €2,008 (+13.8%), from €14,554 to €16,562
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 | €2,512,001 | €2,395,587 | -€116,414 | -4.6% |
| Fixed assets | 21/28 | €1,274,108 | €1,224,952 | -€49,156 | -3.9% |
| Tangible fixed assets | 22/27 | €1,273,993 | €1,224,627 | -€49,366 | -3.9% |
| Land and buildings | 22 | €1,233,736 | €1,184,693 | -€49,042 | -4.0% |
| Furniture and vehicles | 24 | €40,257 | €39,934 | -€324 | -0.8% |
| Financial fixed assets | 28 | €115 | €325 | +€210 | +182.6% |
| Current assets | 29/58 | €1,237,892 | €1,170,634 | -€67,258 | -5.4% |
| Amounts receivable within one year | 40/41 | €176 | €2,766 | +€2,590 | +1468.7% |
| Trade receivables | 40 | €176 | €1,830 | +€1,654 | +937.8% |
| Other amounts receivable | 41 | - | €936 | +€936 | |
| Cash at bank and in hand | 54/58 | €1,231,707 | €1,161,459 | -€70,248 | -5.7% |
| Deferred charges and accrued income | 490/1 | €6,009 | €6,409 | +€400 | +6.7% |
| Total equity and liabilities | 10/49 | €2,512,001 | €2,395,587 | -€116,414 | -4.6% |
| Equity | 10/15 | €2,221,425 | €1,897,912 | -€323,513 | -14.6% |
| Contributions | 10/11 | €154,933 | €154,933 | = | 0.0% |
| Capital | 10 | €154,933 | €154,933 | = | 0.0% |
| Issued capital | 100 | €154,933 | €154,933 | = | 0.0% |
| Revaluation surpluses | 12 | €518,808 | €518,808 | = | 0.0% |
| Reserves | 13 | €1,546,505 | €1,222,992 | -€323,513 | -20.9% |
| Non-distributable reserves | 130/1 | €15,493 | €15,493 | = | 0.0% |
| Legal reserve | 130 | €15,493 | €15,493 | = | 0.0% |
| Tax-exempt reserves | 132 | €170,862 | €163,008 | -€7,853 | -4.6% |
| Distributable reserves | 133 | €1,360,150 | €1,044,490 | -€315,660 | -23.2% |
| Profit (loss) carried forward | 14 | €1,179 | €1,179 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €70,208 | €66,905 | -€3,303 | -4.7% |
| Deferred taxes | 168 | €70,208 | €66,905 | -€3,303 | -4.7% |
| Amounts payable | 17/49 | €220,368 | €430,770 | +€210,403 | +95.5% |
| Amounts payable after more than one year | 17 | €50,358 | €54,310 | +€3,951 | +7.8% |
| Other amounts payable | 178/9 | €50,358 | €54,310 | +€3,951 | +7.8% |
| Amounts payable within one year | 42/48 | €162,746 | €368,951 | +€206,205 | +126.7% |
| Trade debts | 44 | €11,101 | €39,796 | +€28,696 | +258.5% |
| Suppliers | 440/4 | €11,101 | €39,796 | +€28,696 | +258.5% |
| Taxes, remuneration and social security | 45 | €6,307 | €2,558 | -€3,749 | -59.4% |
| Taxes | 450/3 | €6,307 | €1,311 | -€4,996 | -79.2% |
| Remuneration and social security | 454/9 | - | €1,247 | +€1,247 | |
| Other amounts payable | 47/48 | €145,339 | €326,597 | +€181,258 | +124.7% |
| Accrued charges and deferred income | 492/3 | €7,263 | €7,510 | +€247 | +3.4% |
| Non-recurring operating income | 76A | - | €306 | +€306 | |
| Remuneration, social security and pensions | 62 | - | €1,870 | +€1,870 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,665 | €55,248 | -€2,417 | -4.2% |
| Other operating charges | 640/8 | €5,823 | €44,863 | +€39,041 | +670.5% |
| Non-recurring operating charges | 66A | €6,920 | - | -€6,920 | |
| Gross operating margin | 9900 | €76,934 | €125,814 | +€48,879 | +63.5% |
| Operating profit (loss) | 9901 | €6,527 | €23,832 | +€17,305 | +265.1% |
| Financial income | 75/76B | €24,928 | €16,664 | -€8,265 | -33.2% |
| Recurring financial income | 75 | €24,928 | €16,664 | -€8,265 | -33.2% |
| Financial charges | 65/66B | €167 | €751 | +€583 | +348.2% |
| Recurring financial charges | 65 | €167 | €751 | +€583 | +348.2% |
| Profit (loss) for the period before taxes | 9903 | €31,288 | €39,745 | +€8,458 | +27.0% |
| Transfer from deferred taxes | 780 | €3,303 | €3,303 | = | 0.0% |
| Income taxes | 67/77 | €14,554 | €16,562 | +€2,008 | +13.8% |
| Profit (loss) for the period | 9904 | €20,037 | €26,487 | +€6,450 | +32.2% |
| Transfer from tax-exempt reserves | 789 | €7,853 | €7,853 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,890 | €34,340 | +€6,450 | +23.1% |
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 8 October 2026 via checked.be.