VASTBERG: 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.
VASTBERG
Largest movements
- Current investments +€225,596
up €225,596 (+15.7%), from €1.4m to €1.7m
- Tangible fixed assets -€79,984
down €79,984 (-3.4%), from €2.4m to €2.3m
- Receivables within one year +€51,125
up €51,125 (+67.2%), from €76,104 to €127,229
of which Other amounts receivable: +€32,602
- Debts after one year -€400,000
down €400,000 (-40.0%), from €1.0m to €600,000
of which Other amounts payable: -€400,000
- Current portion of long-term debt +€400,000
new in 2025: €400,000
- Reserves +€134,065
up €134,065 (+5.4%), from €2.5m to €2.6m
of which Distributable reserves: +€166,297
- Other debts +€45,000
up €45,000 (+3666.3%), from €1,227 to €46,227
- Financial income +€65,697
up €65,697 (+115.9%), from €56,675 to €122,372
- Taxes -€14,961
down €14,961 (-27.0%), from €55,510 to €40,549
- Financial charges +€10,849
up €10,849 (+40.6%), from €26,733 to €37,582
- Gross operating margin +€4,407
up €4,407 (+1.7%), from €252,524 to €256,932
- Other operating charges +€4,020
up €4,020 (+8.2%), from €48,847 to €52,867
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 | €4,058,440 | €4,240,273 | +€181,833 | +4.5% |
| Fixed assets | 21/28 | €2,353,125 | €2,273,142 | -€79,984 | -3.4% |
| Tangible fixed assets | 22/27 | €2,353,125 | €2,273,142 | -€79,984 | -3.4% |
| Land and buildings | 22 | €2,353,125 | €2,273,142 | -€79,984 | -3.4% |
| Current assets | 29/58 | €1,705,315 | €1,967,132 | +€261,817 | +15.4% |
| Amounts receivable within one year | 40/41 | €76,104 | €127,229 | +€51,125 | +67.2% |
| Trade receivables | 40 | €76,104 | €94,627 | +€18,524 | +24.3% |
| Other amounts receivable | 41 | - | €32,602 | +€32,602 | |
| Current investments | 50/53 | €1,436,297 | €1,661,893 | +€225,596 | +15.7% |
| Cash at bank and in hand | 54/58 | €189,958 | €177,004 | -€12,953 | -6.8% |
| Deferred charges and accrued income | 490/1 | €2,956 | €1,006 | -€1,951 | -66.0% |
| Total equity and liabilities | 10/49 | €4,058,440 | €4,240,273 | +€181,833 | +4.5% |
| Equity | 10/15 | €2,793,291 | €2,927,356 | +€134,065 | +4.8% |
| Contributions | 10/11 | €310,116 | €310,116 | = | 0.0% |
| Capital | 10 | €310,116 | €310,116 | = | 0.0% |
| Issued capital | 100 | €310,116 | €310,116 | = | 0.0% |
| Reserves | 13 | €2,483,175 | €2,617,240 | +€134,065 | +5.4% |
| Non-distributable reserves | 130/1 | €31,012 | €31,012 | = | 0.0% |
| Legal reserve | 130 | €31,012 | €31,012 | = | 0.0% |
| Tax-exempt reserves | 132 | €699,177 | €666,945 | -€32,232 | -4.6% |
| Distributable reserves | 133 | €1,752,987 | €1,919,283 | +€166,297 | +9.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €231,337 | €220,593 | -€10,744 | -4.6% |
| Deferred taxes | 168 | €231,337 | €220,593 | -€10,744 | -4.6% |
| Amounts payable | 17/49 | €1,033,813 | €1,092,325 | +€58,512 | +5.7% |
| Amounts payable after more than one year | 17 | €1,000,000 | €600,000 | -€400,000 | -40.0% |
| Financial debts | 170/4 | €600,000 | €600,000 | = | 0.0% |
| Other amounts payable | 178/9 | €400,000 | €0 | -€400,000 | -100.0% |
| Amounts payable within one year | 42/48 | €25,155 | €483,992 | +€458,837 | +1824.0% |
| Current portion of amounts payable after more than one year | 42 | - | €400,000 | +€400,000 | |
| Trade debts | 44 | €6,497 | €3,704 | -€2,793 | -43.0% |
| Suppliers | 440/4 | €6,497 | €3,704 | -€2,793 | -43.0% |
| Taxes, remuneration and social security | 45 | €17,431 | €34,061 | +€16,630 | +95.4% |
| Taxes | 450/3 | €17,431 | €34,061 | +€16,630 | +95.4% |
| Other amounts payable | 47/48 | €1,227 | €46,227 | +€45,000 | +3666.3% |
| Accrued charges and deferred income | 492/3 | €8,657 | €8,332 | -€325 | -3.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,646 | €79,984 | -€662 | -0.8% |
| Other operating charges | 640/8 | €48,847 | €52,867 | +€4,020 | +8.2% |
| Gross operating margin | 9900 | €252,524 | €256,932 | +€4,407 | +1.7% |
| Operating profit (loss) | 9901 | €123,031 | €124,080 | +€1,049 | +0.9% |
| Financial income | 75/76B | €56,675 | €122,372 | +€65,697 | +115.9% |
| Recurring financial income | 75 | €56,675 | €122,372 | +€65,697 | +115.9% |
| Financial charges | 65/66B | €26,733 | €37,582 | +€10,849 | +40.6% |
| Recurring financial charges | 65 | €26,733 | €37,582 | +€10,849 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €152,973 | €208,869 | +€55,896 | +36.5% |
| Transfer from deferred taxes | 780 | €10,755 | €10,744 | -€11 | -0.1% |
| Income taxes | 67/77 | €55,510 | €40,549 | -€14,961 | -27.0% |
| Profit (loss) for the period | 9904 | €108,218 | €179,065 | +€70,846 | +65.5% |
| Transfer from tax-exempt reserves | 789 | €32,266 | €32,232 | -€34 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €140,484 | €211,297 | +€70,812 | +50.4% |
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 8 October 2026 via checked.be.