V.S.T. MANAGEMENT: 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.
V.S.T. MANAGEMENT
Largest movements
- Receivables within one year -€11,245
down €11,245 (-30.6%), from €36,803 to €25,558
of which Trade receivables: -€8,723
- Tangible fixed assets -€8,049
down €8,049 (-27.4%), from €29,343 to €21,293
of which Furniture and vehicles: -€10,019
- Cash -€6,504
down €6,504 (-51.4%), from €12,643 to €6,139
mainly Tax, wage and social debts (-€14,581) and Net result for the year (-€13,919)
- Financial fixed assets -€1,990
no longer reported in 2024 (was €1,990)
- Tax, wage and social debts -€14,581
down €14,581 (-97.8%), from €14,908 to €327
- Reserves -€13,919
down €13,919 (-14.1%), from €98,690 to €84,772
- Gross operating margin -€76,385
down €76,385 (-99.6%), from €76,664 to €279
- Taxes -€14,610
down €14,610 (-98.0%), from €14,908 to €299
- Depreciation +€10,290
up €10,290 (+1,442%), from €714 to €11,003
- Other operating charges +€2,071
up €2,071 (+340%), from €609 to €2,680
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,780 | €93,974 | -€27,806 | -22.8% |
| Fixed assets | 21/28 | €31,333 | €21,293 | -€10,039 | -32.0% |
| Tangible fixed assets | 22/27 | €29,343 | €21,293 | -€8,049 | -27.4% |
| Plant, machinery and equipment | 23 | - | €1,969 | +€1,969 | |
| Furniture and vehicles | 24 | €29,343 | €19,324 | -€10,019 | -34.1% |
| Financial fixed assets | 28 | €1,990 | - | -€1,990 | |
| Current assets | 29/58 | €90,448 | €72,681 | -€17,767 | -19.6% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,803 | €25,558 | -€11,245 | -30.6% |
| Trade receivables | 40 | €10,983 | €2,260 | -€8,723 | -79.4% |
| Other amounts receivable | 41 | €25,820 | €23,299 | -€2,521 | -9.8% |
| Cash at bank and in hand | 54/58 | €12,643 | €6,139 | -€6,504 | -51.4% |
| Deferred charges and accrued income | 490/1 | €1,002 | €983 | -€19 | -1.9% |
| Total equity and liabilities | 10/49 | €121,780 | €93,974 | -€27,806 | -22.8% |
| Equity | 10/15 | €106,690 | €92,772 | -€13,919 | -13.0% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €98,690 | €84,772 | -€13,919 | -14.1% |
| Distributable reserves | 133 | €98,690 | €84,772 | -€13,919 | -14.1% |
| Amounts payable | 17/49 | €15,090 | €1,202 | -€13,888 | -92.0% |
| Amounts payable within one year | 42/48 | €15,090 | €1,202 | -€13,888 | -92.0% |
| Trade debts | 44 | €138 | €832 | +€694 | +502% |
| Suppliers | 440/4 | €138 | €832 | +€694 | +502% |
| Taxes, remuneration and social security | 45 | €14,908 | €327 | -€14,581 | -97.8% |
| Taxes | 450/3 | €14,908 | €327 | -€14,581 | -97.8% |
| Other amounts payable | 47/48 | €43 | €43 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €11,003 | +€10,290 | +1,442% |
| Other operating charges | 640/8 | €609 | €2,680 | +€2,071 | +340% |
| Gross operating margin | 9900 | €76,664 | €279 | -€76,385 | -99.6% |
| Operating profit (loss) | 9901 | €75,342 | -€13,404 | -€88,746 | |
| Financial charges | 65/66B | €259 | €216 | -€43 | -16.6% |
| Recurring financial charges | 65 | €259 | €216 | -€43 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €75,083 | -€13,620 | -€88,703 | |
| Income taxes | 67/77 | €14,908 | €299 | -€14,610 | -98.0% |
| Profit (loss) for the period | 9904 | €60,175 | -€13,919 | -€74,093 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,175 | -€13,919 | -€74,093 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.