VASP: 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.
What changed
VASP
NACE 56.301, Cafés and bars
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€543
2024 · €100,009-€100,552
Equity
€499,467
2024 · €500,010-€543
Cash
€54,382
2024 · €70,076-€15,694
Balance sheet total
€2.5m
2024 · €2.2m+€386,681
Largest movements
Assets
- Tangible fixed assets +€273,475
up €273,475 (+13.6%), from €2.0m to €2.3m
of which Land and buildings: +€251,007
- Receivables within one year +€130,865
up €130,865 (+293.8%), from €44,549 to €175,414
of which Trade receivables: +€136,478
Equity and liabilities
- Other debts +€459,696
up €459,696 (+79.9%), from €575,233 to €1.0m
- Debts after one year -€77,182
down €77,182 (-8.5%), from €907,615 to €830,433
Income statement
- Gross operating margin -€152,218
down €152,218 (-36.9%), from €412,301 to €260,083
- Taxes -€40,142
down €40,142 (-98.6%), from €40,700 to €558
- Depreciation -€26,015
down €26,015 (-20.2%), from €128,581 to €102,565
- Financial charges +€10,109
up €10,109 (+15.0%), from €67,453 to €77,562
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.
Result 2024
€100,009
Gross operating margin
-€152,218
Staff costs
-€2,382
Depreciation
+€26,015
Other operating charges
-€2,051
Financial income
+€52
Financial charges
-€10,109
Taxes
+€40,142
Result 2025
-€543
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.
From operations
+€436,705
Investment
-€376,040
Financing
-€76,359
Cash 2024
€70,076
From operations (derived)
+€436,705
Net result for the year
-€543
Depreciation
+€102,565
Stocks and contracts
+€1,964
Receivables within one year
-€130,865
Provisions
-€1,700
Trade debts
+€14,081
Tax, wage and social debts
-€1,321
Advances received
+€1,000
Other debts
+€459,696
Accrued charges and deferred income
-€8,174
Investment (derived)
-€376,040
Investment in fixed assets (net)
-€376,040
Financing
-€76,359
Debts after one year
-€77,182
Current portion of long-term debt
+€824
Cash 2025
€54,382
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,154,042 | €2,540,723 | +€386,681 | +18.0% |
| Fixed assets | 21/28 | €2,013,201 | €2,286,676 | +€273,475 | +13.6% |
| Tangible fixed assets | 22/27 | €2,013,201 | €2,286,676 | +€273,475 | +13.6% |
| Land and buildings | 22 | €1,973,847 | €2,224,854 | +€251,007 | +12.7% |
| Plant, machinery and equipment | 23 | €31,030 | €22,073 | -€8,957 | -28.9% |
| Furniture and vehicles | 24 | €8,324 | €39,749 | +€31,425 | +377.5% |
| Current assets | 29/58 | €140,841 | €254,047 | +€113,206 | +80.4% |
| Stocks and contracts in progress | 3 | €26,215 | €24,251 | -€1,964 | -7.5% |
| Stocks | 30/36 | €26,215 | €24,251 | -€1,964 | -7.5% |
| Amounts receivable within one year | 40/41 | €44,549 | €175,414 | +€130,865 | +293.8% |
| Trade receivables | 40 | - | €136,478 | +€136,478 | |
| Other amounts receivable | 41 | €44,549 | €38,936 | -€5,613 | -12.6% |
| Cash at bank and in hand | 54/58 | €70,076 | €54,382 | -€15,694 | -22.4% |
| Total equity and liabilities | 10/49 | €2,154,042 | €2,540,723 | +€386,681 | +18.0% |
| Equity | 10/15 | €500,010 | €499,467 | -€543 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €481,410 | €480,867 | -€543 | -0.1% |
| Tax-exempt reserves | 132 | €46,311 | €42,263 | -€4,048 | -8.7% |
| Distributable reserves | 133 | €435,098 | €438,604 | +€3,506 | +0.8% |
| Provisions and deferred taxes | 16 | €22,674 | €20,973 | -€1,700 | -7.5% |
| Deferred taxes | 168 | €22,674 | €20,973 | -€1,700 | -7.5% |
| Amounts payable | 17/49 | €1,631,359 | €2,020,283 | +€388,924 | +23.8% |
| Amounts payable after more than one year | 17 | €907,615 | €830,433 | -€77,182 | -8.5% |
| Financial debts | 170/4 | €907,615 | €830,433 | -€77,182 | -8.5% |
| Amounts payable within one year | 42/48 | €710,877 | €1,185,158 | +€474,280 | +66.7% |
| Current portion of amounts payable after more than one year | 42 | €76,359 | €77,182 | +€824 | +1.1% |
| Trade debts | 44 | €11,034 | €25,116 | +€14,081 | +127.6% |
| Suppliers | 440/4 | €11,034 | €25,116 | +€14,081 | +127.6% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €48,251 | €46,930 | -€1,321 | -2.7% |
| Taxes | 450/3 | €39,464 | €36,252 | -€3,212 | -8.1% |
| Remuneration and social security | 454/9 | €8,787 | €10,679 | +€1,891 | +21.5% |
| Other amounts payable | 47/48 | €575,233 | €1,034,930 | +€459,696 | +79.9% |
| Accrued charges and deferred income | 492/3 | €12,866 | €4,692 | -€8,174 | -63.5% |
| Remuneration, social security and pensions | 62 | €66,255 | €68,637 | +€2,382 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,581 | €102,565 | -€26,015 | -20.2% |
| Other operating charges | 640/8 | €11,030 | €13,081 | +€2,051 | +18.6% |
| Gross operating margin | 9900 | €412,301 | €260,083 | -€152,218 | -36.9% |
| Operating profit (loss) | 9901 | €206,435 | €75,799 | -€130,636 | -63.3% |
| Financial income | 75/76B | €26 | €78 | +€52 | +198.9% |
| Recurring financial income | 75 | €26 | €78 | +€52 | +198.9% |
| Financial charges | 65/66B | €67,453 | €77,562 | +€10,109 | +15.0% |
| Recurring financial charges | 65 | €67,453 | €77,562 | +€10,109 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €139,008 | -€1,685 | -€140,693 | |
| Transfer from deferred taxes | 780 | €1,700 | €1,700 | = | 0.0% |
| Income taxes | 67/77 | €40,700 | €558 | -€40,142 | -98.6% |
| Profit (loss) for the period | 9904 | €100,009 | -€543 | -€100,552 | |
| Transfer from tax-exempt reserves | 789 | €4,048 | €4,048 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €104,057 | €3,506 | -€100,552 | -96.6% |
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 11 October 2026 via checked.be.