Vespasianus: 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.
Vespasianus
Largest movements
- Receivables within one year +€74,054
up €74,054 (+205%), from €36,141 to €110,195
of which Trade receivables: +€72,190
- Cash -€54,312
down €54,312 (-85.8%), from €63,291 to €8,979
mainly Contributions, distributions and other (-€99,925) and Receivables within one year (-€74,054)
- Deferred charges and accrued income -€23,197
down €23,197 (-89.5%), from €25,906 to €2,709
- Tax, wage and social debts -€25,603
down €25,603 (-95.1%), from €26,925 to €1,322
- Other debts +€22,372
up €22,372 (+23.7%), from €94,590 to €116,962
- Gross operating margin +€41,642
up €41,642 (+39.9%), from €104,428 to €146,071
- Taxes +€19,017
up €19,017 (+85.4%), from €22,269 to €41,286
- Financial income -€1,995
down €1,995 (-99.8%), from €2,000 to €5
- Financial charges +€1,525
up €1,525 (+68.6%), from €2,224 to €3,750
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 | €127,840 | €123,593 | -€4,247 | -3.3% |
| Fixed assets | 21/28 | €2,502 | €1,710 | -€792 | -31.7% |
| Tangible fixed assets | 22/27 | €2,502 | €1,710 | -€792 | -31.7% |
| Plant, machinery and equipment | 23 | €1,685 | €1,323 | -€362 | -21.5% |
| Furniture and vehicles | 24 | €816 | €386 | -€430 | -52.7% |
| Current assets | 29/58 | €125,338 | €121,883 | -€3,455 | -2.8% |
| Amounts receivable within one year | 40/41 | €36,141 | €110,195 | +€74,054 | +205% |
| Trade receivables | 40 | €22,810 | €95,000 | +€72,190 | +316% |
| Other amounts receivable | 41 | €13,331 | €15,195 | +€1,864 | +14.0% |
| Cash at bank and in hand | 54/58 | €63,291 | €8,979 | -€54,312 | -85.8% |
| Deferred charges and accrued income | 490/1 | €25,906 | €2,709 | -€23,197 | -89.5% |
| Total equity and liabilities | 10/49 | €127,840 | €123,593 | -€4,247 | -3.3% |
| Equity | 10/15 | €5,813 | €5,000 | -€813 | -14.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €813 | €0 | -€813 | -100% |
| Amounts payable | 17/49 | €122,027 | €118,593 | -€3,434 | -2.8% |
| Amounts payable within one year | 42/48 | €122,027 | €118,593 | -€3,434 | -2.8% |
| Trade debts | 44 | €512 | €309 | -€203 | -39.7% |
| Suppliers | 440/4 | €512 | €309 | -€203 | -39.7% |
| Taxes, remuneration and social security | 45 | €26,925 | €1,322 | -€25,603 | -95.1% |
| Taxes | 450/3 | €26,925 | €1,322 | -€25,603 | -95.1% |
| Other amounts payable | 47/48 | €94,590 | €116,962 | +€22,372 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €765 | €792 | +€27 | +3.6% |
| Other operating charges | 640/8 | €1,182 | €1,136 | -€46 | -3.9% |
| Gross operating margin | 9900 | €104,428 | €146,071 | +€41,642 | +39.9% |
| Operating profit (loss) | 9901 | €102,481 | €144,142 | +€41,661 | +40.7% |
| Financial income | 75/76B | €2,000 | €5 | -€1,995 | -99.8% |
| Recurring financial income | 75 | €2,000 | €5 | -€1,995 | -99.8% |
| Financial charges | 65/66B | €2,224 | €3,750 | +€1,525 | +68.6% |
| Recurring financial charges | 65 | €2,224 | €3,750 | +€1,525 | +68.6% |
| Profit (loss) for the period before taxes | 9903 | €102,257 | €140,397 | +€38,141 | +37.3% |
| Income taxes | 67/77 | €22,269 | €41,286 | +€19,017 | +85.4% |
| Profit (loss) for the period | 9904 | €79,988 | €99,112 | +€19,124 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,988 | €99,112 | +€19,124 | +23.9% |
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 15 October 2026 via checked.be.