In Vesta Projects: 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.
In Vesta Projects
Largest movements
- Receivables within one year -€13,902
down €13,902 (-26.7%), from €52,094 to €38,192
of which Other amounts receivable: -€13,902
- Cash -€6,031
down €6,031 (-12.7%), from €47,658 to €41,628
mainly Net result for the year (-€12,231) and Tax, wage and social debts (-€6,229)
- Tangible fixed assets -€2,196
down €2,196 (-100%), from €2,196 to €0
- Profit (loss) carried forward -€12,231
down €12,231 (-25.0%), from €48,902 to €36,671
- Tax, wage and social debts -€6,229
down €6,229 (-85.5%), from €7,283 to €1,054
- Trade debts -€2,615
down €2,615 (-58.3%), from €4,485 to €1,870
- Financial income -€30,396
down €30,396 (-84.3%), from €36,073 to €5,678
- Gross operating margin -€3,723
down €3,723 (-33.5%), from -€11,126 to -€14,849
- Depreciation +€1,191
up €1,191 (+119%), from €1,005 to €2,196
- Financial charges -€236
down €236 (-71.0%), from €333 to €97
- Other operating charges +€157
up €157 (+40.5%), from €387 to €544
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 | €102,070 | €80,735 | -€21,335 | -20.9% |
| Fixed assets | 21/28 | €2,196 | €780 | -€1,416 | -64.5% |
| Tangible fixed assets | 22/27 | €2,196 | €0 | -€2,196 | -100% |
| Furniture and vehicles | 24 | €2,196 | €0 | -€2,196 | -100% |
| Financial fixed assets | 28 | - | €780 | +€780 | |
| Current assets | 29/58 | €99,874 | €79,955 | -€19,919 | -19.9% |
| Amounts receivable within one year | 40/41 | €52,094 | €38,192 | -€13,902 | -26.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €52,094 | €38,192 | -€13,902 | -26.7% |
| Cash at bank and in hand | 54/58 | €47,658 | €41,628 | -€6,031 | -12.7% |
| Deferred charges and accrued income | 490/1 | €122 | €136 | +€13 | +10.8% |
| Total equity and liabilities | 10/49 | €102,070 | €80,735 | -€21,335 | -20.9% |
| Equity | 10/15 | €88,902 | €76,671 | -€12,231 | -13.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,902 | €36,671 | -€12,231 | -25.0% |
| Amounts payable | 17/49 | €13,168 | €4,064 | -€9,104 | -69.1% |
| Amounts payable within one year | 42/48 | €12,909 | €4,064 | -€8,844 | -68.5% |
| Trade debts | 44 | €4,485 | €1,870 | -€2,615 | -58.3% |
| Suppliers | 440/4 | €4,485 | €1,870 | -€2,615 | -58.3% |
| Taxes, remuneration and social security | 45 | €7,283 | €1,054 | -€6,229 | -85.5% |
| Taxes | 450/3 | €7,283 | €1,054 | -€6,229 | -85.5% |
| Other amounts payable | 47/48 | €1,140 | €1,140 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €259 | €0 | -€259 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,005 | €2,196 | +€1,191 | +119% |
| Other operating charges | 640/8 | €387 | €544 | +€157 | +40.5% |
| Gross operating margin | 9900 | -€11,126 | -€14,849 | -€3,723 | -33.5% |
| Operating profit (loss) | 9901 | -€12,519 | -€17,590 | -€5,071 | -40.5% |
| Financial income | 75/76B | €36,073 | €5,678 | -€30,396 | -84.3% |
| Recurring financial income | 75 | €36,073 | €5,678 | -€30,396 | -84.3% |
| Financial charges | 65/66B | €333 | €97 | -€236 | -71.0% |
| Recurring financial charges | 65 | €333 | €97 | -€236 | -71.0% |
| Profit (loss) for the period before taxes | 9903 | €23,222 | -€12,008 | -€35,230 | |
| Income taxes | 67/77 | €252 | €223 | -€29 | -11.7% |
| Profit (loss) for the period | 9904 | €22,969 | -€12,231 | -€35,201 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,969 | -€12,231 | -€35,201 |
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 23 October 2026 via checked.be.