Vastland: 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.
Vastland
Largest movements
- Current investments +€1.9m
new in 2025: €1.9m
- Stocks and contracts +€821,365
up €821,365 (+22,627%), from €3,630 to €824,995
- Cash +€365,394
up €365,394 (+631%), from €57,884 to €423,277
mainly Net result for the year (+€2.3m) and Short-term financial debts (+€530,867)
- Financial fixed assets -€348,389
down €348,389 (-40.8%), from €853,388 to €505,000
- Reserves +€2.0m
up €2.0m (+269%), from €755,073 to €2.8m
of which Distributable reserves: +€1.9m
- Short-term financial debts +€530,867
up €530,867 (+1,309%), from €40,547 to €571,413
- Other debts +€383,877
up €383,877 (+3,677%), from €10,440 to €394,317
- Debts after one year -€279,118
down €279,118 (-19.9%), from €1.4m to €1.1m
- Tax, wage and social debts +€248,849
up €248,849 (+820%), from €30,330 to €279,179
- Financial income +€2.5m
up €2.5m (+89,958%), from €2,806 to €2.5m
of which Non-recurring financial income: +€2.5m
- Taxes +€191,699
up €191,699 (+227%), from €84,518 to €276,217
- Financial charges +€148,756
up €148,756 (+195%), from €76,304 to €225,060
of which Non-recurring financial charges: +€150,000
- Gross operating margin -€84,398
down €84,398 (-17.7%), from €476,019 to €391,621
- Depreciation -€27,103
down €27,103 (-27.9%), from €97,074 to €69,971
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.
Derived cash bridge
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 | €2,550,402 | €5,359,074 | +€2.8m | +110% |
| Fixed assets | 21/28 | €2,357,471 | €1,981,470 | -€376,002 | -15.9% |
| Tangible fixed assets | 22/27 | €1,504,083 | €1,476,470 | -€27,613 | -1.8% |
| Land and buildings | 22 | €1,495,895 | €1,439,348 | -€56,546 | -3.8% |
| Plant, machinery and equipment | 23 | €1,563 | €6,246 | +€4,683 | +300% |
| Furniture and vehicles | 24 | €6,626 | €30,876 | +€24,250 | +366% |
| Financial fixed assets | 28 | €853,388 | €505,000 | -€348,389 | -40.8% |
| Current assets | 29/58 | €192,931 | €3,377,605 | +€3.2m | +1,651% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 291 | - | €20,000 | +€20,000 | |
| Stocks and contracts in progress | 3 | €3,630 | €824,995 | +€821,365 | +22,627% |
| Stocks | 30/36 | €3,630 | €824,995 | +€821,365 | +22,627% |
| Amounts receivable within one year | 40/41 | €131,417 | €167,982 | +€36,565 | +27.8% |
| Trade receivables | 40 | €57,717 | €45,272 | -€12,444 | -21.6% |
| Other amounts receivable | 41 | €73,701 | €122,710 | +€49,009 | +66.5% |
| Current investments | 50/53 | - | €1,897,221 | +€1.9m | |
| Cash at bank and in hand | 54/58 | €57,884 | €423,277 | +€365,394 | +631% |
| Deferred charges and accrued income | 490/1 | - | €44,130 | +€44,130 | |
| Total equity and liabilities | 10/49 | €2,550,402 | €5,359,074 | +€2.8m | +110% |
| Equity | 10/15 | €778,037 | €2,819,025 | +€2.0m | +262% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €4,364 | €12,680 | +€8,316 | +191% |
| Reserves | 13 | €755,073 | €2,787,745 | +€2.0m | +269% |
| Tax-exempt reserves | 132 | - | €126,300 | +€126,300 | |
| Distributable reserves | 133 | €755,073 | €2,661,445 | +€1.9m | +252% |
| Amounts payable | 17/49 | €1,772,365 | €2,540,049 | +€767,684 | +43.3% |
| Amounts payable after more than one year | 17 | €1,404,926 | €1,125,808 | -€279,118 | -19.9% |
| Financial debts | 170/4 | €1,404,926 | €1,125,808 | -€279,118 | -19.9% |
| Amounts payable within one year | 42/48 | €355,651 | €1,409,574 | +€1.1m | +296% |
| Current portion of amounts payable after more than one year | 42 | €242,325 | €151,253 | -€91,072 | -37.6% |
| Financial debts | 43 | €40,547 | €571,413 | +€530,867 | +1,309% |
| Credit institutions | 430/8 | €40,547 | €571,413 | +€530,867 | +1,309% |
| Trade debts | 44 | €31,645 | €13,412 | -€18,233 | -57.6% |
| Suppliers | 440/4 | €31,645 | €13,412 | -€18,233 | -57.6% |
| Advances received on contracts in progress | 46 | €364 | - | -€364 | |
| Taxes, remuneration and social security | 45 | €30,330 | €279,179 | +€248,849 | +820% |
| Taxes | 450/3 | €30,330 | €279,179 | +€248,849 | +820% |
| Other amounts payable | 47/48 | €10,440 | €394,317 | +€383,877 | +3,677% |
| Accrued charges and deferred income | 492/3 | €11,788 | €4,667 | -€7,121 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,074 | €69,971 | -€27,103 | -27.9% |
| Other operating charges | 640/8 | €13,971 | €15,274 | +€1,303 | +9.3% |
| Non-recurring operating charges | 66A | €13,127 | - | -€13,127 | |
| Gross operating margin | 9900 | €476,019 | €391,621 | -€84,398 | -17.7% |
| Operating profit (loss) | 9901 | €351,847 | €306,375 | -€45,472 | -12.9% |
| Financial income | 75/76B | €2,806 | €2,527,117 | +€2.5m | +89,958% |
| Recurring financial income | 75 | €1,006 | €2,010 | +€1,004 | +99.8% |
| Non-recurring financial income | 76B | €1,800 | €2,525,107 | +€2.5m | +140,172% |
| Financial charges | 65/66B | €76,304 | €225,060 | +€148,756 | +195% |
| Recurring financial charges | 65 | €76,304 | €75,060 | -€1,244 | -1.6% |
| Non-recurring financial charges | 66B | - | €150,000 | +€150,000 | |
| Profit (loss) for the period before taxes | 9903 | €278,349 | €2,608,432 | +€2.3m | +837% |
| Income taxes | 67/77 | €84,518 | €276,217 | +€191,699 | +227% |
| Profit (loss) for the period | 9904 | €193,831 | €2,332,215 | +€2.1m | +1,103% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €193,831 | €2,205,915 | +€2.0m | +1,038% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.