VASTERSAVENDTS: 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.
VASTERSAVENDTS
Largest movements
- Cash +€213,983
up €213,983 (+94.8%), from €225,835 to €439,818
mainly Net result for the year (+€193,106) and Depreciation (+€68,830)
- Tangible fixed assets -€44,005
down €44,005 (-10.7%), from €410,044 to €366,039
of which Other tangible fixed assets: -€26,786
- Receivables after one year -€33,250
down €33,250 (-19.8%), from €168,100 to €134,850
- Reserves +€158,000
up €158,000 (+12.5%), from €1.3m to €1.4m
of which Distributable reserves: +€158,000
- Other debts +€32,787
up €32,787 (+54.2%), from €60,500 to €93,287
- Short-term financial debts -€19,898
down €19,898 (-59.7%), from €33,333 to €13,435
- Trade debts -€18,260
down €18,260 (-75.2%), from €24,275 to €6,015
- Gross operating margin +€43,454
up €43,454 (+13.7%), from €316,528 to €359,982
- Taxes +€18,667
up €18,667 (+24.6%), from €75,950 to €94,617
- Staff costs -€8,927
down €8,927 (-44.0%), from €20,285 to €11,358
- Financial income +€5,892
up €5,892 (+43.4%), from €13,586 to €19,478
- Depreciation -€4,472
down €4,472 (-6.1%), from €73,302 to €68,830
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 | €1,541,224 | €1,683,452 | +€142,228 | +9.2% |
| Formation expenses | 20 | €1 | €1 | = | 0.0% |
| Fixed assets | 21/28 | €411,660 | €367,655 | -€44,005 | -10.7% |
| Tangible fixed assets | 22/27 | €410,044 | €366,039 | -€44,005 | -10.7% |
| Plant, machinery and equipment | 23 | €11,595 | €8,084 | -€3,511 | -30.3% |
| Furniture and vehicles | 24 | €33,517 | €19,809 | -€13,708 | -40.9% |
| Other tangible fixed assets | 26 | €364,932 | €338,146 | -€26,786 | -7.3% |
| Financial fixed assets | 28 | €1,616 | €1,616 | = | 0.0% |
| Current assets | 29/58 | €1,129,563 | €1,315,796 | +€186,233 | +16.5% |
| Amounts receivable after more than one year | 29 | €168,100 | €134,850 | -€33,250 | -19.8% |
| Other amounts receivable | 291 | €168,100 | €134,850 | -€33,250 | -19.8% |
| Amounts receivable within one year | 40/41 | €702,711 | €713,801 | +€11,090 | +1.6% |
| Trade receivables | 40 | €451,317 | €402,450 | -€48,867 | -10.8% |
| Other amounts receivable | 41 | €251,394 | €311,351 | +€59,957 | +23.8% |
| Current investments | 50/53 | €24,570 | €24,570 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €225,835 | €439,818 | +€213,983 | +94.8% |
| Deferred charges and accrued income | 490/1 | €8,347 | €2,757 | -€5,590 | -67.0% |
| Total equity and liabilities | 10/49 | €1,541,224 | €1,683,452 | +€142,228 | +9.2% |
| Equity | 10/15 | €1,295,472 | €1,453,578 | +€158,106 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,264,913 | €1,422,913 | +€158,000 | +12.5% |
| Tax-exempt reserves | 132 | €1,353 | €1,353 | = | 0.0% |
| Distributable reserves | 133 | €1,263,560 | €1,421,560 | +€158,000 | +12.5% |
| Profit (loss) carried forward | 14 | €11,959 | €12,065 | +€106 | +0.9% |
| Provisions and deferred taxes | 16 | €78,944 | €78,944 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €78,944 | €78,944 | = | 0.0% |
| Pensions and similar obligations | 160 | €78,944 | €78,944 | = | 0.0% |
| Amounts payable | 17/49 | €166,808 | €150,930 | -€15,878 | -9.5% |
| Amounts payable within one year | 42/48 | €166,808 | €148,330 | -€18,478 | -11.1% |
| Financial debts | 43 | €33,333 | €13,435 | -€19,898 | -59.7% |
| Credit institutions | 430/8 | €33,333 | €13,435 | -€19,898 | -59.7% |
| Trade debts | 44 | €24,275 | €6,015 | -€18,260 | -75.2% |
| Suppliers | 440/4 | €24,275 | €6,015 | -€18,260 | -75.2% |
| Taxes, remuneration and social security | 45 | €48,700 | €35,593 | -€13,107 | -26.9% |
| Taxes | 450/3 | €44,245 | €31,084 | -€13,161 | -29.7% |
| Remuneration and social security | 454/9 | €4,455 | €4,509 | +€54 | +1.2% |
| Other amounts payable | 47/48 | €60,500 | €93,287 | +€32,787 | +54.2% |
| Accrued charges and deferred income | 492/3 | - | €2,600 | +€2,600 | |
| Non-recurring operating income | 76A | €14,058 | - | -€14,058 | |
| Remuneration, social security and pensions | 62 | €20,285 | €11,358 | -€8,927 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,302 | €68,830 | -€4,472 | -6.1% |
| Other operating charges | 640/8 | €4,395 | €6,268 | +€1,873 | +42.6% |
| Gross operating margin | 9900 | €316,528 | €359,982 | +€43,454 | +13.7% |
| Operating profit (loss) | 9901 | €218,546 | €273,526 | +€54,980 | +25.2% |
| Financial income | 75/76B | €13,586 | €19,478 | +€5,892 | +43.4% |
| Recurring financial income | 75 | €13,586 | €19,478 | +€5,892 | +43.4% |
| Financial charges | 65/66B | €4,328 | €5,281 | +€953 | +22.0% |
| Recurring financial charges | 65 | €4,328 | €5,281 | +€953 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €227,804 | €287,723 | +€59,919 | +26.3% |
| Income taxes | 67/77 | €75,950 | €94,617 | +€18,667 | +24.6% |
| Profit (loss) for the period | 9904 | €151,854 | €193,106 | +€41,252 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €151,854 | €193,106 | +€41,252 | +27.2% |
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 5 October 2026 via checked.be.