V.S.T. TRANS: 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. TRANS
Largest movements
- Tangible fixed assets -€20,263
down €20,263 (-15.0%), from €135,349 to €115,086
of which Leasing and similar rights: -€20,006
- Cash +€15,516
up €15,516 (+52.8%), from €29,385 to €44,902
mainly Depreciation (+€20,263) and Net result for the year (+€11,448)
- Receivables within one year -€3,494
down €3,494 (-23.9%), from €14,623 to €11,129
of which Trade receivables: -€2,980
- Deferred charges and accrued income -€2,602
down €2,602 (-23.4%), from €11,129 to €8,526
- Debts after one year -€26,004
down €26,004 (-17.6%), from €148,130 to €122,126
of which Financial debts: -€18,504
- Reserves +€11,250
up €11,250 (+177%), from €6,359 to €17,609
of which Distributable reserves: +€11,250
- Taxes +€3,950
up €3,950 (+416%), from €950 to €4,899
- Gross operating margin +€1,644
up €1,644 (+3.4%), from €47,954 to €49,598
- Financial charges -€1,632
down €1,632 (-14.4%), from €11,338 to €9,705
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 | €199,485 | €188,642 | -€10,843 | -5.4% |
| Fixed assets | 21/28 | €144,349 | €124,086 | -€20,263 | -14.0% |
| Tangible fixed assets | 22/27 | €135,349 | €115,086 | -€20,263 | -15.0% |
| Furniture and vehicles | 24 | €398 | €265 | -€133 | -33.3% |
| Leasing and similar rights | 25 | €134,124 | €114,118 | -€20,006 | -14.9% |
| Other tangible fixed assets | 26 | €827 | €703 | -€124 | -15.0% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €55,137 | €64,556 | +€9,420 | +17.1% |
| Amounts receivable within one year | 40/41 | €14,623 | €11,129 | -€3,494 | -23.9% |
| Trade receivables | 40 | €8,230 | €5,250 | -€2,980 | -36.2% |
| Other amounts receivable | 41 | €6,393 | €5,879 | -€514 | -8.0% |
| Cash at bank and in hand | 54/58 | €29,385 | €44,902 | +€15,516 | +52.8% |
| Deferred charges and accrued income | 490/1 | €11,129 | €8,526 | -€2,602 | -23.4% |
| Total equity and liabilities | 10/49 | €199,485 | €188,642 | -€10,843 | -5.4% |
| Equity | 10/15 | €25,139 | €36,587 | +€11,448 | +45.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,359 | €17,609 | +€11,250 | +177% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €4,500 | €15,750 | +€11,250 | +250% |
| Profit (loss) carried forward | 14 | €188 | €386 | +€198 | +105% |
| Amounts payable | 17/49 | €174,346 | €152,055 | -€22,291 | -12.8% |
| Amounts payable after more than one year | 17 | €148,130 | €122,126 | -€26,004 | -17.6% |
| Financial debts | 170/4 | €108,130 | €89,626 | -€18,504 | -17.1% |
| Other amounts payable | 178/9 | €40,000 | €32,500 | -€7,500 | -18.8% |
| Amounts payable within one year | 42/48 | €26,216 | €29,929 | +€3,713 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €17,205 | €18,504 | +€1,299 | +7.5% |
| Financial debts | 43 | - | €1,009 | +€1,009 | |
| Credit institutions | 430/8 | - | €1,009 | +€1,009 | |
| Trade debts | 44 | €6,639 | €7,266 | +€627 | +9.4% |
| Suppliers | 440/4 | €6,639 | €7,266 | +€627 | +9.4% |
| Taxes, remuneration and social security | 45 | €1,909 | €1,754 | -€156 | -8.1% |
| Taxes | 450/3 | €1,909 | €1,754 | -€156 | -8.1% |
| Other amounts payable | 47/48 | €463 | €1,397 | +€934 | +202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,643 | €20,263 | -€380 | -1.8% |
| Other operating charges | 640/8 | €2,996 | €3,288 | +€292 | +9.7% |
| Gross operating margin | 9900 | €47,954 | €49,598 | +€1,644 | +3.4% |
| Operating profit (loss) | 9901 | €24,316 | €26,048 | +€1,732 | +7.1% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €11,338 | €9,705 | -€1,632 | -14.4% |
| Recurring financial charges | 65 | €11,338 | €9,705 | -€1,632 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €12,978 | €16,347 | +€3,369 | +26.0% |
| Income taxes | 67/77 | €950 | €4,899 | +€3,950 | +416% |
| Profit (loss) for the period | 9904 | €12,029 | €11,448 | -€581 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,029 | €11,448 | -€581 | -4.8% |
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 31 October 2026 via checked.be.