VASSALLI: 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.
VASSALLI
Largest movements
- Cash +€26,557
up €26,557 (+12.3%), from €216,488 to €243,045
mainly Depreciation (+€14,006) and Net result for the year (+€9,128)
- Tangible fixed assets -€12,620
down €12,620 (-32.9%), from €38,315 to €25,695
of which Furniture and vehicles: -€11,005
- Receivables within one year -€3,715
down €3,715 (-26.9%), from €13,830 to €10,115
of which Other amounts receivable: -€5,650
- Reserves +€9,128
up €9,128 (+11.2%), from €81,195 to €90,323
- Depreciation +€7,574
up €7,574 (+117.8%), from €6,432 to €14,006
- Gross operating margin +€7,526
up €7,526 (+40.5%), from €18,565 to €26,091
- Financial charges -€3,013
down €3,013 (-94.1%), from €3,203 to €191
- Financial income +€1,583
up €1,583 (+669.6%), from €236 to €1,819
- Taxes +€1,202
up €1,202 (+44.0%), from €2,732 to €3,934
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €272,308 | €280,200 | +€7,892 | +2.9% |
| Fixed assets | 21/28 | €38,315 | €25,695 | -€12,620 | -32.9% |
| Tangible fixed assets | 22/27 | €38,315 | €25,695 | -€12,620 | -32.9% |
| Furniture and vehicles | 24 | €31,312 | €20,307 | -€11,005 | -35.1% |
| Other tangible fixed assets | 26 | €7,003 | €5,388 | -€1,615 | -23.1% |
| Current assets | 29/58 | €233,992 | €254,505 | +€20,512 | +8.8% |
| Amounts receivable within one year | 40/41 | €13,830 | €10,115 | -€3,715 | -26.9% |
| Trade receivables | 40 | €5,841 | €7,776 | +€1,935 | +33.1% |
| Other amounts receivable | 41 | €7,989 | €2,339 | -€5,650 | -70.7% |
| Cash at bank and in hand | 54/58 | €216,488 | €243,045 | +€26,557 | +12.3% |
| Deferred charges and accrued income | 490/1 | €3,674 | €1,345 | -€2,329 | -63.4% |
| Total equity and liabilities | 10/49 | €272,308 | €280,200 | +€7,892 | +2.9% |
| Equity | 10/15 | €245,081 | €254,209 | +€9,128 | +3.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €81,195 | €90,323 | +€9,128 | +11.2% |
| Distributable reserves | 133 | €81,195 | €90,323 | +€9,128 | +11.2% |
| Profit (loss) carried forward | 14 | €145,336 | €145,336 | = | 0.0% |
| Amounts payable | 17/49 | €27,226 | €25,991 | -€1,235 | -4.5% |
| Amounts payable within one year | 42/48 | €24,105 | €24,573 | +€468 | +1.9% |
| Trade debts | 44 | €396 | €733 | +€337 | +85.0% |
| Suppliers | 440/4 | €396 | €733 | +€337 | +85.0% |
| Taxes, remuneration and social security | 45 | €3,300 | €4,206 | +€906 | +27.5% |
| Taxes | 450/3 | €3,300 | €4,206 | +€906 | +27.5% |
| Other amounts payable | 47/48 | €20,409 | €19,635 | -€775 | -3.8% |
| Accrued charges and deferred income | 492/3 | €3,121 | €1,418 | -€1,704 | -54.6% |
| Non-recurring operating income | 76A | €4,132 | - | -€4,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,432 | €14,006 | +€7,574 | +117.8% |
| Other operating charges | 640/8 | €617 | €653 | +€35 | +5.7% |
| Gross operating margin | 9900 | €18,565 | €26,091 | +€7,526 | +40.5% |
| Operating profit (loss) | 9901 | €11,516 | €11,433 | -€83 | -0.7% |
| Financial income | 75/76B | €236 | €1,819 | +€1,583 | +669.6% |
| Recurring financial income | 75 | €236 | €1,819 | +€1,583 | +669.6% |
| Financial charges | 65/66B | €3,203 | €191 | -€3,013 | -94.1% |
| Recurring financial charges | 65 | €3,203 | €191 | -€3,013 | -94.1% |
| Profit (loss) for the period before taxes | 9903 | €8,549 | €13,062 | +€4,513 | +52.8% |
| Income taxes | 67/77 | €2,732 | €3,934 | +€1,202 | +44.0% |
| Profit (loss) for the period | 9904 | €5,817 | €9,128 | +€3,311 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,817 | €9,128 | +€3,311 | +56.9% |
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 12 October 2026 via checked.be.