VESPATOERIST: 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.
VESPATOERIST
Largest movements
- Tangible fixed assets +€17,463
up €17,463 (+24.8%), from €70,283 to €87,746
of which Other tangible fixed assets: +€8,982
- Cash -€16,275
down €16,275 (-18.6%), from €87,339 to €71,064
mainly Investment in fixed assets (net) (-€62,094) and Other debts (-€47,341)
- Receivables within one year -€9,359
down €9,359 (-55.9%), from €16,757 to €7,398
of which Trade receivables: -€5,423
- Deferred charges and accrued income +€1,884
up €1,884 (+571%), from €330 to €2,214
- Profit (loss) carried forward +€52,466
up €52,466 (+143%), from €36,784 to €89,250
- Other debts -€47,341
down €47,341 (-43.9%), from €107,863 to €60,522
- Tax, wage and social debts -€8,107
down €8,107 (-67.6%), from €12,000 to €3,893
- Trade debts -€3,275
down €3,275 (-68.4%), from €4,785 to €1,510
- Gross operating margin +€29,291
up €29,291 (+31.2%), from €93,856 to €123,148
- Taxes +€5,501
up €5,501 (+47.4%), from €11,599 to €17,101
- Depreciation +€1,935
up €1,935 (+4.5%), from €42,696 to €44,631
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 | €181,432 | €175,175 | -€6,257 | -3.4% |
| Fixed assets | 21/28 | €76,283 | €93,746 | +€17,463 | +22.9% |
| Tangible fixed assets | 22/27 | €70,283 | €87,746 | +€17,463 | +24.8% |
| Plant, machinery and equipment | 23 | €3,206 | €5,668 | +€2,462 | +76.8% |
| Furniture and vehicles | 24 | €66,459 | €72,478 | +€6,019 | +9.1% |
| Other tangible fixed assets | 26 | €618 | €9,600 | +€8,982 | +1,453% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €105,149 | €81,429 | -€23,720 | -22.6% |
| Stocks and contracts in progress | 3 | €723 | €753 | +€30 | +4.2% |
| Stocks | 30/36 | €723 | €753 | +€30 | +4.2% |
| Amounts receivable within one year | 40/41 | €16,757 | €7,398 | -€9,359 | -55.9% |
| Trade receivables | 40 | €5,423 | €0 | -€5,423 | -100% |
| Other amounts receivable | 41 | €11,334 | €7,398 | -€3,936 | -34.7% |
| Cash at bank and in hand | 54/58 | €87,339 | €71,064 | -€16,275 | -18.6% |
| Deferred charges and accrued income | 490/1 | €330 | €2,214 | +€1,884 | +571% |
| Total equity and liabilities | 10/49 | €181,432 | €175,175 | -€6,257 | -3.4% |
| Equity | 10/15 | €56,784 | €109,250 | +€52,466 | +92.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,784 | €89,250 | +€52,466 | +143% |
| Amounts payable | 17/49 | €124,648 | €65,925 | -€58,723 | -47.1% |
| Amounts payable within one year | 42/48 | €124,648 | €65,925 | -€58,723 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,785 | €1,510 | -€3,275 | -68.4% |
| Suppliers | 440/4 | €4,785 | €1,510 | -€3,275 | -68.4% |
| Taxes, remuneration and social security | 45 | €12,000 | €3,893 | -€8,107 | -67.6% |
| Taxes | 450/3 | €12,000 | €3,893 | -€8,107 | -67.6% |
| Other amounts payable | 47/48 | €107,863 | €60,522 | -€47,341 | -43.9% |
| Non-recurring operating income | 76A | €24,133 | €15,029 | -€9,104 | -37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,696 | €44,631 | +€1,935 | +4.5% |
| Other operating charges | 640/8 | €1,763 | €1,961 | +€198 | +11.2% |
| Gross operating margin | 9900 | €93,856 | €123,148 | +€29,291 | +31.2% |
| Operating profit (loss) | 9901 | €49,397 | €76,556 | +€27,159 | +55.0% |
| Financial income | 75/76B | €160 | €27 | -€133 | -83.3% |
| Recurring financial income | 75 | €160 | €27 | -€133 | -83.3% |
| Financial charges | 65/66B | €1,173 | €2,016 | +€842 | +71.8% |
| Recurring financial charges | 65 | €1,173 | €2,016 | +€842 | +71.8% |
| Profit (loss) for the period before taxes | 9903 | €48,383 | €74,567 | +€26,184 | +54.1% |
| Income taxes | 67/77 | €11,599 | €17,101 | +€5,501 | +47.4% |
| Profit (loss) for the period | 9904 | €36,784 | €57,466 | +€20,682 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,784 | €57,466 | +€20,682 | +56.2% |
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 26 October 2026 via checked.be.