VESALIADE: 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.
VESALIADE
Largest movements
- Cash +€13,008
up €13,008 (+26.0%), from €50,031 to €63,039
mainly Net result for the year (+€38,345) and Trade debts (+€2,366)
- Receivables within one year +€5,767
up €5,767 (+274.6%), from €2,100 to €7,867
- Tangible fixed assets -€1,667
down €1,667 (-39.5%), from €4,217 to €2,550
- Reserves +€38,345
up €38,345 (+143.4%), from €26,746 to €65,092
- Other debts -€22,054
down €22,054 (-99.4%), from €22,198 to €144
- Trade debts +€2,366
up €2,366 (+8801.2%), from €27 to €2,393
- Tax, wage and social debts -€1,856
down €1,856 (-32.6%), from €5,691 to €3,835
of which Taxes: -€1,712
- Gross operating margin +€14,123
up €14,123 (+33.6%), from €42,044 to €56,167
- Taxes +€5,208
up €5,208 (+47.1%), from €11,061 to €16,269
- Depreciation -€2,538
down €2,538 (-60.4%), from €4,204 to €1,667
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 | €57,662 | €74,463 | +€16,801 | +29.1% |
| Fixed assets | 21/28 | €4,217 | €2,550 | -€1,667 | -39.5% |
| Tangible fixed assets | 22/27 | €4,217 | €2,550 | -€1,667 | -39.5% |
| Furniture and vehicles | 24 | €4,217 | €2,550 | -€1,667 | -39.5% |
| Current assets | 29/58 | €53,445 | €71,913 | +€18,468 | +34.6% |
| Amounts receivable within one year | 40/41 | €2,100 | €7,867 | +€5,767 | +274.6% |
| Other amounts receivable | 41 | €2,100 | €7,867 | +€5,767 | +274.6% |
| Cash at bank and in hand | 54/58 | €50,031 | €63,039 | +€13,008 | +26.0% |
| Deferred charges and accrued income | 490/1 | €1,314 | €1,006 | -€308 | -23.4% |
| Total equity and liabilities | 10/49 | €57,662 | €74,463 | +€16,801 | +29.1% |
| Equity | 10/15 | €29,746 | €68,092 | +€38,345 | +128.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,746 | €65,092 | +€38,345 | +143.4% |
| Distributable reserves | 133 | €26,746 | €65,092 | +€38,345 | +143.4% |
| Amounts payable | 17/49 | €27,916 | €6,371 | -€21,544 | -77.2% |
| Amounts payable within one year | 42/48 | €27,916 | €6,371 | -€21,544 | -77.2% |
| Trade debts | 44 | €27 | €2,393 | +€2,366 | +8801.2% |
| Suppliers | 440/4 | €27 | €2,393 | +€2,366 | +8801.2% |
| Taxes, remuneration and social security | 45 | €5,691 | €3,835 | -€1,856 | -32.6% |
| Taxes | 450/3 | €5,547 | €3,835 | -€1,712 | -30.9% |
| Remuneration and social security | 454/9 | €144 | - | -€144 | |
| Other amounts payable | 47/48 | €22,198 | €144 | -€22,054 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,204 | €1,667 | -€2,538 | -60.4% |
| Gross operating margin | 9900 | €42,044 | €56,167 | +€14,123 | +33.6% |
| Operating profit (loss) | 9901 | €37,840 | €54,500 | +€16,660 | +44.0% |
| Financial income | 75/76B | - | €169 | +€169 | |
| Recurring financial income | 75 | - | €169 | +€169 | |
| Financial charges | 65/66B | €33 | €55 | +€22 | +67.7% |
| Recurring financial charges | 65 | €33 | €55 | +€22 | +67.7% |
| Profit (loss) for the period before taxes | 9903 | €37,807 | €54,614 | +€16,807 | +44.5% |
| Income taxes | 67/77 | €11,061 | €16,269 | +€5,208 | +47.1% |
| Profit (loss) for the period | 9904 | €26,746 | €38,345 | +€11,599 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,746 | €38,345 | +€11,599 | +43.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.