VASBINDER EXPERTISE: 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.
VASBINDER EXPERTISE
Largest movements
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
- Cash +€14,697
up €14,697 (+24.4%), from €60,170 to €74,867
mainly Net result for the year (+€64,256) and Current investments (+€30,000)
- Receivables within one year +€11,740
up €11,740 (+91.1%), from €12,884 to €24,624
of which Trade receivables: +€12,312
- Tangible fixed assets -€11,240
down €11,240 (-30.3%), from €37,143 to €25,903
of which Furniture and vehicles: -€10,928
- Debts after one year -€10,243
down €10,243 (-41.8%), from €24,524 to €14,281
- Other debts -€5,916
down €5,916 (-7.0%), from €84,952 to €79,036
- Financial income -€5,033
down €5,033 (-16.4%), from €30,625 to €25,593
- Gross operating margin +€2,169
up €2,169 (+3.5%), from €61,296 to €63,464
- Depreciation -€1,110
down €1,110 (-9.0%), from €12,350 to €11,240
- Financial charges -€726
down €726 (-24.0%), from €3,020 to €2,294
- Taxes +€678
up €678 (+7.1%), from €9,615 to €10,294
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 | €145,375 | €129,888 | -€15,487 | -10.7% |
| Fixed assets | 21/28 | €41,419 | €30,179 | -€11,240 | -27.1% |
| Tangible fixed assets | 22/27 | €37,143 | €25,903 | -€11,240 | -30.3% |
| Plant, machinery and equipment | 23 | €1,245 | €933 | -€312 | -25.1% |
| Furniture and vehicles | 24 | €35,898 | €24,970 | -€10,928 | -30.4% |
| Financial fixed assets | 28 | €4,277 | €4,277 | = | 0.0% |
| Current assets | 29/58 | €103,956 | €99,708 | -€4,247 | -4.1% |
| Amounts receivable within one year | 40/41 | €12,884 | €24,624 | +€11,740 | +91.1% |
| Trade receivables | 40 | €12,312 | €24,624 | +€12,312 | +100% |
| Other amounts receivable | 41 | €572 | - | -€572 | |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €60,170 | €74,867 | +€14,697 | +24.4% |
| Deferred charges and accrued income | 490/1 | €901 | €218 | -€684 | -75.8% |
| Total equity and liabilities | 10/49 | €145,375 | €129,888 | -€15,487 | -10.7% |
| Equity | 10/15 | €18,619 | €18,625 | +€6 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19 | €25 | +€6 | +29.4% |
| Amounts payable | 17/49 | €126,756 | €111,263 | -€15,493 | -12.2% |
| Amounts payable after more than one year | 17 | €24,524 | €14,281 | -€10,243 | -41.8% |
| Financial debts | 170/4 | €24,524 | €14,281 | -€10,243 | -41.8% |
| Amounts payable within one year | 42/48 | €100,768 | €95,902 | -€4,866 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €9,859 | €10,243 | +€384 | +3.9% |
| Trade debts | 44 | €436 | €328 | -€108 | -24.8% |
| Suppliers | 440/4 | €436 | €328 | -€108 | -24.8% |
| Taxes, remuneration and social security | 45 | €5,521 | €6,294 | +€773 | +14.0% |
| Taxes | 450/3 | €5,521 | €6,294 | +€773 | +14.0% |
| Other amounts payable | 47/48 | €84,952 | €79,036 | -€5,916 | -7.0% |
| Accrued charges and deferred income | 492/3 | €1,463 | €1,080 | -€383 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,350 | €11,240 | -€1,110 | -9.0% |
| Other operating charges | 640/8 | €675 | €973 | +€298 | +44.2% |
| Gross operating margin | 9900 | €61,296 | €63,464 | +€2,169 | +3.5% |
| Operating profit (loss) | 9901 | €48,270 | €51,251 | +€2,981 | +6.2% |
| Financial income | 75/76B | €30,625 | €25,593 | -€5,033 | -16.4% |
| Recurring financial income | 75 | €30,625 | €25,593 | -€5,033 | -16.4% |
| Financial charges | 65/66B | €3,020 | €2,294 | -€726 | -24.0% |
| Recurring financial charges | 65 | €3,020 | €2,294 | -€726 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €75,876 | €74,550 | -€1,326 | -1.7% |
| Income taxes | 67/77 | €9,615 | €10,294 | +€678 | +7.1% |
| Profit (loss) for the period | 9904 | €66,260 | €64,256 | -€2,005 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,260 | €64,256 | -€2,005 | -3.0% |
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 20 October 2026 via checked.be.