VASTEMOR: 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.
VASTEMOR
Largest movements
- Stocks and contracts -€419,088
down €419,088 (-100.0%), from €419,088 to €0
- Tangible fixed assets -€111,539
down €111,539 (-4.7%), from €2.4m to €2.3m
- Cash -€72,529
down €72,529 (-92.3%), from €78,621 to €6,092
mainly Debts after one year (-€378,706) and Short-term financial debts (-€321,871)
- Debts after one year -€378,706
down €378,706 (-32.4%), from €1.2m to €789,518
of which Financial debts: -€378,706
- Short-term financial debts -€321,871
down €321,871 (-99.2%), from €324,364 to €2,493
- Other debts +€175,635
up €175,635 (+14.3%), from €1.2m to €1.4m
- Current portion of long-term debt -€62,536
down €62,536 (-29.8%), from €209,528 to €146,992
- Financial charges -€49,670
down €49,670 (-53.3%), from €93,219 to €43,549
- Gross operating margin +€45,738
up €45,738 (+31.0%), from €147,436 to €193,174
- Depreciation +€6,137
up €6,137 (+5.2%), from €118,973 to €125,110
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 | €2,980,206 | €2,378,602 | -€601,604 | -20.2% |
| Fixed assets | 21/28 | €2,368,456 | €2,256,918 | -€111,539 | -4.7% |
| Tangible fixed assets | 22/27 | €2,368,456 | €2,256,918 | -€111,539 | -4.7% |
| Land and buildings | 22 | €2,368,456 | €2,256,918 | -€111,539 | -4.7% |
| Current assets | 29/58 | €611,750 | €121,685 | -€490,065 | -80.1% |
| Stocks and contracts in progress | 3 | €419,088 | €0 | -€419,088 | -100.0% |
| Stocks | 30/36 | €419,088 | €0 | -€419,088 | -100.0% |
| Amounts receivable within one year | 40/41 | €100,446 | €100,778 | +€332 | +0.3% |
| Other amounts receivable | 41 | €100,446 | €100,778 | +€332 | +0.3% |
| Cash at bank and in hand | 54/58 | €78,621 | €6,092 | -€72,529 | -92.3% |
| Deferred charges and accrued income | 490/1 | €13,596 | €14,815 | +€1,220 | +9.0% |
| Total equity and liabilities | 10/49 | €2,980,206 | €2,378,602 | -€601,604 | -20.2% |
| Equity | 10/15 | €6,849 | €10,316 | +€3,467 | +50.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €11,921 | €11,921 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €5,721 | €5,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,072 | -€63,605 | +€3,467 | +5.2% |
| Amounts payable | 17/49 | €2,973,357 | €2,368,286 | -€605,071 | -20.3% |
| Amounts payable after more than one year | 17 | €1,168,225 | €789,518 | -€378,706 | -32.4% |
| Financial debts | 170/4 | €1,160,300 | €781,593 | -€378,706 | -32.6% |
| Other amounts payable | 178/9 | €7,925 | €7,925 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,791,624 | €1,578,223 | -€213,401 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €209,528 | €146,992 | -€62,536 | -29.8% |
| Financial debts | 43 | €324,364 | €2,493 | -€321,871 | -99.2% |
| Credit institutions | 430/8 | €324,364 | €2,493 | -€321,871 | -99.2% |
| Trade debts | 44 | €28,305 | €23,676 | -€4,628 | -16.4% |
| Suppliers | 440/4 | €28,305 | €23,676 | -€4,628 | -16.4% |
| Taxes, remuneration and social security | 45 | €1,634 | €1,634 | = | 0.0% |
| Taxes | 450/3 | €1,634 | €1,634 | = | 0.0% |
| Other amounts payable | 47/48 | €1,227,792 | €1,403,427 | +€175,635 | +14.3% |
| Accrued charges and deferred income | 492/3 | €13,508 | €545 | -€12,964 | -96.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,973 | €125,110 | +€6,137 | +5.2% |
| Other operating charges | 640/8 | €22,326 | €21,161 | -€1,165 | -5.2% |
| Gross operating margin | 9900 | €147,436 | €193,174 | +€45,738 | +31.0% |
| Operating profit (loss) | 9901 | €6,137 | €46,902 | +€40,766 | +664.3% |
| Financial income | 75/76B | €100 | €114 | +€14 | +13.7% |
| Recurring financial income | 75 | €100 | €114 | +€14 | +13.7% |
| Financial charges | 65/66B | €93,219 | €43,549 | -€49,670 | -53.3% |
| Recurring financial charges | 65 | €93,219 | €43,549 | -€49,670 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | -€86,982 | €3,467 | +€90,449 | |
| Profit (loss) for the period | 9904 | -€86,982 | €3,467 | +€90,449 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,982 | €3,467 | +€90,449 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.