VESOR: 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.
VESOR
Largest movements
- Receivables within one year -€22,760
down €22,760 (-77.7%), from €29,301 to €6,541
of which Trade receivables: -€21,936
- Cash -€8,318
no longer reported in 2025 (was €8,318)
mainly Net result for the year (-€19,455) and Trade debts (-€11,926)
- Deferred charges and accrued income -€7,140
down €7,140 (-13.3%), from €53,550 to €46,410
- Profit (loss) carried forward -€19,455
down €19,455, from €0 to -€19,455
- Trade debts -€11,926
down €11,926 (-76.1%), from €15,678 to €3,752
- Tax, wage and social debts -€9,162
down €9,162 (-66.7%), from €13,737 to €4,575
of which Remuneration and social security: -€9,285
- Debts after one year +€2,566
up €2,566 (+7.7%), from €33,428 to €35,994
- Advances received -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin -€57,482
down €57,482, from €42,341 to -€15,141
- Staff costs -€35,517
no longer reported in 2025 (was €35,517)
- Financial charges -€1,315
down €1,315 (-55.0%), from €2,390 to €1,075
of which Non-recurring financial charges: -€1,114
- Depreciation -€643
down €643 (-40.7%), from €1,582 to €938
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 | €94,539 | €55,357 | -€39,182 | -41.4% |
| Fixed assets | 21/28 | €3,369 | €2,406 | -€963 | -28.6% |
| Tangible fixed assets | 22/27 | €3,344 | €2,406 | -€938 | -28.1% |
| Plant, machinery and equipment | 23 | €508 | €210 | -€298 | -58.7% |
| Furniture and vehicles | 24 | €2,836 | €2,196 | -€640 | -22.6% |
| Financial fixed assets | 28 | €25 | - | -€25 | |
| Current assets | 29/58 | €91,170 | €52,951 | -€38,218 | -41.9% |
| Amounts receivable within one year | 40/41 | €29,301 | €6,541 | -€22,760 | -77.7% |
| Trade receivables | 40 | €27,936 | €6,000 | -€21,936 | -78.5% |
| Other amounts receivable | 41 | €1,365 | €541 | -€824 | -60.3% |
| Cash at bank and in hand | 54/58 | €8,318 | - | -€8,318 | |
| Deferred charges and accrued income | 490/1 | €53,550 | €46,410 | -€7,140 | -13.3% |
| Total equity and liabilities | 10/49 | €94,539 | €55,357 | -€39,182 | -41.4% |
| Equity | 10/15 | €25,948 | €6,493 | -€19,455 | -75.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,748 | €19,748 | = | 0.0% |
| Distributable reserves | 133 | €19,748 | €19,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€19,455 | -€19,455 | |
| Amounts payable | 17/49 | €68,591 | €48,864 | -€19,726 | -28.8% |
| Amounts payable after more than one year | 17 | €33,428 | €35,994 | +€2,566 | +7.7% |
| Financial debts | 170/4 | €33,428 | €35,994 | +€2,566 | +7.7% |
| Amounts payable within one year | 42/48 | €34,918 | €12,871 | -€22,047 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €4,503 | €4,503 | = | 0.0% |
| Trade debts | 44 | €15,678 | €3,752 | -€11,926 | -76.1% |
| Suppliers | 440/4 | €15,678 | €3,752 | -€11,926 | -76.1% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €13,737 | €4,575 | -€9,162 | -66.7% |
| Taxes | 450/3 | €4,452 | €4,575 | +€123 | +2.8% |
| Remuneration and social security | 454/9 | €9,285 | - | -€9,285 | |
| Other amounts payable | 47/48 | €0 | €41 | +€41 | |
| Accrued charges and deferred income | 492/3 | €245 | - | -€245 | |
| Non-recurring operating income | 76A | €539 | €54 | -€485 | -90.0% |
| Remuneration, social security and pensions | 62 | €35,517 | - | -€35,517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,582 | €938 | -€643 | -40.7% |
| Other operating charges | 640/8 | €2,009 | €2,301 | +€292 | +14.5% |
| Gross operating margin | 9900 | €42,341 | -€15,141 | -€57,482 | |
| Operating profit (loss) | 9901 | €3,234 | -€18,380 | -€21,614 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,390 | €1,075 | -€1,315 | -55.0% |
| Recurring financial charges | 65 | €1,276 | €1,075 | -€201 | -15.7% |
| Non-recurring financial charges | 66B | €1,114 | - | -€1,114 | |
| Profit (loss) for the period before taxes | 9903 | €844 | -€19,455 | -€20,299 | |
| Income taxes | 67/77 | €77 | - | -€77 | |
| Profit (loss) for the period | 9904 | €767 | -€19,455 | -€20,222 | |
| Profit (loss) for the period to be appropriated | 9905 | €767 | -€19,455 | -€20,222 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.