VAST: 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.
VAST
Largest movements
- Tangible fixed assets +€6,977
up €6,977 (+1.3%), from €533,013 to €539,990
- Receivables within one year -€6,008
down €6,008 (-45.1%), from €13,335 to €7,327
of which Other amounts receivable: -€13,335
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€5,862
up €5,862 (+39.0%), from €15,013 to €20,875
- Depreciation +€2,123
up €2,123 (+57.8%), from €3,674 to €5,797
- Other operating charges +€665
up €665 (+7.4%), from €9,000 to €9,666
- Taxes +€433
up €433 (+40.5%), from €1,071 to €1,505
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €553,309 | €557,699 | +€4,390 | +0.8% |
| Fixed assets | 21/28 | €533,013 | €539,990 | +€6,977 | +1.3% |
| Tangible fixed assets | 22/27 | €533,013 | €539,990 | +€6,977 | +1.3% |
| Land and buildings | 22 | €533,013 | €539,990 | +€6,977 | +1.3% |
| Current assets | 29/58 | €20,296 | €17,709 | -€2,587 | -12.7% |
| Amounts receivable within one year | 40/41 | €13,335 | €7,327 | -€6,008 | -45.1% |
| Trade receivables | 40 | - | €7,327 | +€7,327 | |
| Other amounts receivable | 41 | €13,335 | - | -€13,335 | |
| Cash at bank and in hand | 54/58 | €5,565 | €8,750 | +€3,185 | +57.2% |
| Deferred charges and accrued income | 490/1 | €1,396 | €1,633 | +€237 | +17.0% |
| Total equity and liabilities | 10/49 | €553,309 | €557,699 | +€4,390 | +0.8% |
| Equity | 10/15 | €45,743 | €49,554 | +€3,811 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,543 | €43,354 | +€3,811 | +9.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,683 | €41,494 | +€3,811 | +10.1% |
| Amounts payable | 17/49 | €507,566 | €508,145 | +€579 | +0.1% |
| Amounts payable within one year | 42/48 | €507,566 | €508,145 | +€579 | +0.1% |
| Trade debts | 44 | €3,170 | €1,507 | -€1,663 | -52.5% |
| Suppliers | 440/4 | €3,170 | €1,507 | -€1,663 | -52.5% |
| Taxes, remuneration and social security | 45 | €1,071 | €2,639 | +€1,568 | +146% |
| Taxes | 450/3 | €1,071 | €2,639 | +€1,568 | +146% |
| Other amounts payable | 47/48 | €503,325 | €503,999 | +€674 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,674 | €5,797 | +€2,123 | +57.8% |
| Other operating charges | 640/8 | €9,000 | €9,666 | +€665 | +7.4% |
| Gross operating margin | 9900 | €15,013 | €20,875 | +€5,862 | +39.0% |
| Operating profit (loss) | 9901 | €2,339 | €5,413 | +€3,074 | +131% |
| Financial charges | 65/66B | €121 | €97 | -€25 | -20.3% |
| Recurring financial charges | 65 | €121 | €97 | -€25 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €2,217 | €5,316 | +€3,099 | +140% |
| Income taxes | 67/77 | €1,071 | €1,505 | +€433 | +40.5% |
| Profit (loss) for the period | 9904 | €1,146 | €3,811 | +€2,665 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €1,146 | €3,811 | +€2,665 | +233% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.