VESIT: 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.
VESIT
Largest movements
- Cash +€123,560
up €123,560 (+215.3%), from €57,386 to €180,946
mainly Net result for the year (+€107,437) and Depreciation (+€19,602)
- Tangible fixed assets -€18,083
down €18,083 (-20.1%), from €90,092 to €72,009
of which Leasing and similar rights: -€19,332
- Reserves +€107,437
up €107,437 (+126.9%), from €84,651 to €192,088
- Debts after one year -€16,475
down €16,475 (-25.0%), from €65,922 to €49,447
- Other debts +€6,473
up €6,473 (+10579.5%), from €61 to €6,534
- Tax, wage and social debts +€5,823
up €5,823 (+1161.3%), from €501 to €6,324
- Gross operating margin +€43,649
up €43,649 (+36.4%), from €119,954 to €163,603
- Depreciation +€13,034
up €13,034 (+198.5%), from €6,568 to €19,602
- Taxes +€5,826
up €5,826 (+22.8%), from €25,498 to €31,324
- Financial charges +€1,741
up €1,741 (+107.1%), from €1,626 to €3,367
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 | €170,156 | €274,230 | +€104,073 | +61.2% |
| Fixed assets | 21/28 | €90,092 | €72,009 | -€18,083 | -20.1% |
| Tangible fixed assets | 22/27 | €90,092 | €72,009 | -€18,083 | -20.1% |
| Furniture and vehicles | 24 | - | €1,249 | +€1,249 | |
| Leasing and similar rights | 25 | €90,092 | €70,760 | -€19,332 | -21.5% |
| Current assets | 29/58 | €80,064 | €202,220 | +€122,156 | +152.6% |
| Amounts receivable within one year | 40/41 | €22,538 | €20,962 | -€1,575 | -7.0% |
| Trade receivables | 40 | €22,538 | €19,226 | -€3,312 | -14.7% |
| Other amounts receivable | 41 | - | €1,736 | +€1,736 | |
| Cash at bank and in hand | 54/58 | €57,386 | €180,946 | +€123,560 | +215.3% |
| Deferred charges and accrued income | 490/1 | €140 | €312 | +€172 | +122.3% |
| Total equity and liabilities | 10/49 | €170,156 | €274,230 | +€104,073 | +61.2% |
| Equity | 10/15 | €87,651 | €195,088 | +€107,437 | +122.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €84,651 | €192,088 | +€107,437 | +126.9% |
| Distributable reserves | 133 | €84,651 | €192,088 | +€107,437 | +126.9% |
| Amounts payable | 17/49 | €82,505 | €79,142 | -€3,364 | -4.1% |
| Amounts payable after more than one year | 17 | €65,922 | €49,447 | -€16,475 | -25.0% |
| Financial debts | 170/4 | €65,922 | €49,447 | -€16,475 | -25.0% |
| Amounts payable within one year | 42/48 | €16,581 | €29,461 | +€12,880 | +77.7% |
| Current portion of amounts payable after more than one year | 42 | €15,859 | €16,475 | +€616 | +3.9% |
| Financial debts | 43 | €27 | €78 | +€51 | +186.7% |
| Credit institutions | 430/8 | €27 | €78 | +€51 | +186.7% |
| Trade debts | 44 | €132 | €50 | -€82 | -61.9% |
| Suppliers | 440/4 | €132 | €50 | -€82 | -61.9% |
| Taxes, remuneration and social security | 45 | €501 | €6,324 | +€5,823 | +1161.3% |
| Taxes | 450/3 | €501 | €6,324 | +€5,823 | +1161.3% |
| Other amounts payable | 47/48 | €61 | €6,534 | +€6,473 | +10579.5% |
| Accrued charges and deferred income | 492/3 | €2 | €233 | +€231 | +11344.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,568 | €19,602 | +€13,034 | +198.5% |
| Other operating charges | 640/8 | €1,612 | €1,874 | +€262 | +16.3% |
| Gross operating margin | 9900 | €119,954 | €163,603 | +€43,649 | +36.4% |
| Operating profit (loss) | 9901 | €111,775 | €142,128 | +€30,353 | +27.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,626 | €3,367 | +€1,741 | +107.1% |
| Recurring financial charges | 65 | €1,626 | €3,367 | +€1,741 | +107.1% |
| Profit (loss) for the period before taxes | 9903 | €110,149 | €138,761 | +€28,612 | +26.0% |
| Income taxes | 67/77 | €25,498 | €31,324 | +€5,826 | +22.8% |
| Profit (loss) for the period | 9904 | €84,651 | €107,437 | +€22,786 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,651 | €107,437 | +€22,786 | +26.9% |
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 10 October 2026 via checked.be.