VASPYMA: 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.
VASPYMA
Largest movements
- Receivables within one year -€154,349
down €154,349 (-73.7%), from €209,536 to €55,187
of which Other amounts receivable: -€147,049
- Cash +€57,096
up €57,096 (+379%), from €15,055 to €72,151
mainly Net result for the year (+€176,491) and Receivables within one year (+€154,349)
- Tangible fixed assets +€10,159
up €10,159 (+31.7%), from €32,093 to €42,252
of which Furniture and vehicles: +€19,359
- Other debts -€134,867
down €134,867 (-96.3%), from €140,000 to €5,133
- Reserves +€47,727
up €47,727 (+7.6%), from €630,213 to €677,940
of which Distributable reserves: +€47,727
- Tax, wage and social debts -€11,736
down €11,736 (-21.9%), from €53,574 to €41,838
of which Taxes: -€15,578
- Current portion of long-term debt +€9,821
new in 2025: €9,821
- Gross operating margin -€396,549
down €396,549 (-55.3%), from €716,793 to €320,243
- Taxes -€111,867
down €111,867 (-57.7%), from €193,749 to €81,882
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 | €835,352 | €744,804 | -€90,548 | -10.8% |
| Fixed assets | 21/28 | €35,843 | €46,002 | +€10,159 | +28.3% |
| Tangible fixed assets | 22/27 | €32,093 | €42,252 | +€10,159 | +31.7% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €12,084 | €31,443 | +€19,359 | +160% |
| Other tangible fixed assets | 26 | €20,010 | €10,809 | -€9,200 | -46.0% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €799,509 | €698,802 | -€100,707 | -12.6% |
| Amounts receivable within one year | 40/41 | €209,536 | €55,187 | -€154,349 | -73.7% |
| Trade receivables | 40 | €7,300 | €0 | -€7,300 | -100% |
| Other amounts receivable | 41 | €202,236 | €55,187 | -€147,049 | -72.7% |
| Current investments | 50/53 | €574,176 | €570,360 | -€3,816 | -0.7% |
| Cash at bank and in hand | 54/58 | €15,055 | €72,151 | +€57,096 | +379% |
| Deferred charges and accrued income | 490/1 | €742 | €1,104 | +€362 | +48.7% |
| Total equity and liabilities | 10/49 | €835,352 | €744,804 | -€90,548 | -10.8% |
| Equity | 10/15 | €636,413 | €684,140 | +€47,727 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €630,213 | €677,940 | +€47,727 | +7.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €630,213 | €677,940 | +€47,727 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €198,939 | €60,664 | -€138,275 | -69.5% |
| Amounts payable within one year | 42/48 | €198,939 | €60,664 | -€138,275 | -69.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,821 | +€9,821 | |
| Trade debts | 44 | €5,365 | €3,872 | -€1,493 | -27.8% |
| Suppliers | 440/4 | €5,365 | €3,872 | -€1,493 | -27.8% |
| Taxes, remuneration and social security | 45 | €53,574 | €41,838 | -€11,736 | -21.9% |
| Taxes | 450/3 | €48,730 | €33,152 | -€15,578 | -32.0% |
| Remuneration and social security | 454/9 | €4,843 | €8,685 | +€3,842 | +79.3% |
| Other amounts payable | 47/48 | €140,000 | €5,133 | -€134,867 | -96.3% |
| Remuneration, social security and pensions | 62 | €35,726 | €35,701 | -€25 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,391 | €19,695 | +€304 | +1.6% |
| Other operating charges | 640/8 | €1,552 | €402 | -€1,150 | -74.1% |
| Gross operating margin | 9900 | €716,793 | €320,243 | -€396,549 | -55.3% |
| Operating profit (loss) | 9901 | €660,124 | €264,446 | -€395,678 | -59.9% |
| Financial income | 75/76B | €5,052 | €1,650 | -€3,401 | -67.3% |
| Recurring financial income | 75 | €5,052 | €1,650 | -€3,401 | -67.3% |
| Financial charges | 65/66B | €10,069 | €7,723 | -€2,346 | -23.3% |
| Recurring financial charges | 65 | €10,069 | €7,723 | -€2,346 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €655,106 | €258,373 | -€396,733 | -60.6% |
| Income taxes | 67/77 | €193,749 | €81,882 | -€111,867 | -57.7% |
| Profit (loss) for the period | 9904 | €461,357 | €176,491 | -€284,866 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €461,357 | €176,491 | -€284,866 | -61.7% |
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 22 October 2026 via checked.be.