VASSI et Co: what changed
Two fiscal 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
VASSI et Co
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€13,267
2024 · -€18,612+€5,346
Equity
€1.3m
2024 · €1.3m-€25,110
Cash
€107,155
2024 · €67,569+€39,586
Balance sheet total
€1.4m
2024 · €1.4m-€19,829
Largest movements
Assets
- Tangible fixed assets -€64,381
down €64,381 (-4.9%), from €1.3m to €1.3m
of which Land and buildings: -€68,019
- Cash +€39,586
up €39,586 (+58.6%), from €67,569 to €107,155
mainly Depreciation (+€77,029) and Provisions (+€7,877)
Equity and liabilities
- Reserves -€23,742
down €23,742 (-10.5%), from €225,609 to €201,867
of which Tax-exempt reserves: -€23,742
Income statement
- Gross operating margin +€10,547
up €10,547 (+15.4%), from €68,458 to €79,005
- Depreciation +€4,825
up €4,825 (+6.7%), from €72,204 to €77,029
- Other operating charges +€1,298
up €1,298 (+7.1%), from €18,199 to €19,496
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
-€18,612
Gross operating margin
+€10,547
Depreciation
-€4,825
Other operating charges
-€1,298
Financial income
+€143
Financial charges
-€6
Taxes
-€9
Deferred taxes and other
+€793
Result 2025
-€13,267
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
+€64,077
Investment
-€12,648
Financing
-€11,843
Cash 2024
€67,569
From operations (derived)
+€64,077
Net result for the year
-€13,267
Depreciation
+€77,029
Receivables within one year
-€4,841
Smaller working-capital items
-€351
Provisions
+€7,877
Trade debts
-€4,470
Accrued charges and deferred income
+€2,100
Investment (derived)
-€12,648
Investment in fixed assets (net)
-€12,648
Financing
-€11,843
Contributions, distributions and other
-€11,843
Cash 2025
€107,155
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,397,017 | €1,377,189 | -€19,829 | -1.4% |
| Fixed assets | 21/28 | €1,325,298 | €1,260,917 | -€64,381 | -4.9% |
| Tangible fixed assets | 22/27 | €1,325,298 | €1,260,917 | -€64,381 | -4.9% |
| Land and buildings | 22 | €1,292,670 | €1,224,651 | -€68,019 | -5.3% |
| Plant, machinery and equipment | 23 | €20,357 | €24,274 | +€3,917 | +19.2% |
| Furniture and vehicles | 24 | €623 | €2,804 | +€2,181 | +350.1% |
| Other tangible fixed assets | 26 | €11,648 | €9,188 | -€2,460 | -21.1% |
| Current assets | 29/58 | €71,719 | €116,272 | +€44,552 | +62.1% |
| Amounts receivable within one year | 40/41 | €2,537 | €7,377 | +€4,841 | +190.9% |
| Other amounts receivable | 41 | €2,537 | €7,377 | +€4,841 | +190.9% |
| Cash at bank and in hand | 54/58 | €67,569 | €107,155 | +€39,586 | +58.6% |
| Deferred charges and accrued income | 490/1 | €1,614 | €1,739 | +€125 | +7.7% |
| Total equity and liabilities | 10/49 | €1,397,017 | €1,377,189 | -€19,829 | -1.4% |
| Equity | 10/15 | €1,343,747 | €1,318,637 | -€25,110 | -1.9% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €225,609 | €201,867 | -€23,742 | -10.5% |
| Non-distributable reserves | 130/1 | €31,000 | €31,000 | = | 0.0% |
| Legal reserve | 130 | €31,000 | €31,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €189,487 | €165,745 | -€23,742 | -12.5% |
| Distributable reserves | 133 | €5,122 | €5,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €368,138 | €366,770 | -€1,368 | -0.4% |
| Provisions and deferred taxes | 16 | €47,372 | €55,248 | +€7,877 | +16.6% |
| Deferred taxes | 168 | €47,372 | €55,248 | +€7,877 | +16.6% |
| Amounts payable | 17/49 | €5,899 | €3,303 | -€2,596 | -44.0% |
| Amounts payable after more than one year | 17 | €242 | €242 | = | 0.0% |
| Other amounts payable | 178/9 | €242 | €242 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,657 | €961 | -€4,696 | -83.0% |
| Trade debts | 44 | €4,772 | €302 | -€4,470 | -93.7% |
| Suppliers | 440/4 | €4,772 | €302 | -€4,470 | -93.7% |
| Taxes, remuneration and social security | 45 | €764 | €659 | -€105 | -13.7% |
| Taxes | 450/3 | €764 | €659 | -€105 | -13.7% |
| Other amounts payable | 47/48 | €121 | - | -€121 | |
| Accrued charges and deferred income | 492/3 | - | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,204 | €77,029 | +€4,825 | +6.7% |
| Other operating charges | 640/8 | €18,199 | €19,496 | +€1,298 | +7.1% |
| Gross operating margin | 9900 | €68,458 | €79,005 | +€10,547 | +15.4% |
| Operating profit (loss) | 9901 | -€21,944 | -€17,520 | +€4,424 | +20.2% |
| Financial income | 75/76B | €375 | €519 | +€143 | +38.2% |
| Recurring financial income | 75 | €375 | €519 | +€143 | +38.2% |
| Financial charges | 65/66B | €45 | €51 | +€6 | +13.9% |
| Recurring financial charges | 65 | €45 | €51 | +€6 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,614 | -€17,053 | +€4,561 | +21.1% |
| Transfer from deferred taxes | 780 | €3,173 | €3,966 | +€793 | +25.0% |
| Income taxes | 67/77 | €171 | €180 | +€9 | +5.2% |
| Profit (loss) for the period | 9904 | -€18,612 | -€13,267 | +€5,346 | +28.7% |
| Transfer from tax-exempt reserves | 789 | €12,692 | €11,899 | -€793 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,920 | -€1,368 | +€4,552 | +76.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.