VESPATOURS: 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.
VESPATOURS
Largest movements
- Receivables within one year -€44,478
down €44,478 (-91.5%), from €48,625 to €4,146
of which Trade receivables: -€48,036
- Cash -€4,274
down €4,274 (-40.9%), from €10,451 to €6,177
mainly Trade debts (-€33,045) and Investment in fixed assets (net) (-€14,291)
- Tangible fixed assets +€1,644
up €1,644 (+13.1%), from €12,579 to €14,224
- Trade debts -€33,045
down €33,045 (-90.6%), from €36,478 to €3,433
- Profit (loss) carried forward +€16,030
up €16,030, from -€12,739 to €3,292
- Advances received -€10,195
no longer reported in 2025 (was €10,195)
- Tax, wage and social debts -€6,105
down €6,105 (-47.3%), from €12,902 to €6,797
- Other debts -€5,099
down €5,099 (-75.5%), from €6,757 to €1,659
- Taxes -€17,565
down €17,565, from €16,907 to -€658
- Gross operating margin +€5,295
up €5,295 (+22.2%), from €23,847 to €29,142
- Financial charges -€2,681
down €2,681 (-81.4%), from €3,293 to €612
- Other operating charges -€2,130
down €2,130 (-80.6%), from €2,642 to €512
- Depreciation +€1,043
up €1,043 (+9.0%), from €11,604 to €12,647
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 | €71,656 | €24,547 | -€47,108 | -65.7% |
| Fixed assets | 21/28 | €12,579 | €14,224 | +€1,644 | +13.1% |
| Tangible fixed assets | 22/27 | €12,579 | €14,224 | +€1,644 | +13.1% |
| Furniture and vehicles | 24 | €12,579 | €14,224 | +€1,644 | +13.1% |
| Current assets | 29/58 | €59,076 | €10,324 | -€48,752 | -82.5% |
| Amounts receivable within one year | 40/41 | €48,625 | €4,146 | -€44,478 | -91.5% |
| Trade receivables | 40 | €48,625 | €589 | -€48,036 | -98.8% |
| Other amounts receivable | 41 | - | €3,558 | +€3,558 | |
| Cash at bank and in hand | 54/58 | €10,451 | €6,177 | -€4,274 | -40.9% |
| Total equity and liabilities | 10/49 | €71,656 | €24,547 | -€47,108 | -65.7% |
| Equity | 10/15 | -€8,339 | €7,692 | +€16,030 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €400 | €400 | = | 0.0% |
| Distributable reserves | 133 | €400 | €400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,739 | €3,292 | +€16,030 | |
| Amounts payable | 17/49 | €79,994 | €16,856 | -€63,138 | -78.9% |
| Amounts payable after more than one year | 17 | €4,967 | €508 | -€4,460 | -89.8% |
| Financial debts | 170/4 | €4,967 | €508 | -€4,460 | -89.8% |
| Amounts payable within one year | 42/48 | €75,027 | €16,348 | -€58,679 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €8,695 | €4,460 | -€4,235 | -48.7% |
| Trade debts | 44 | €36,478 | €3,433 | -€33,045 | -90.6% |
| Suppliers | 440/4 | €36,478 | €3,433 | -€33,045 | -90.6% |
| Advances received on contracts in progress | 46 | €10,195 | - | -€10,195 | |
| Taxes, remuneration and social security | 45 | €12,902 | €6,797 | -€6,105 | -47.3% |
| Taxes | 450/3 | €12,902 | €6,797 | -€6,105 | -47.3% |
| Other amounts payable | 47/48 | €6,757 | €1,659 | -€5,099 | -75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,604 | €12,647 | +€1,043 | +9.0% |
| Other operating charges | 640/8 | €2,642 | €512 | -€2,130 | -80.6% |
| Gross operating margin | 9900 | €23,847 | €29,142 | +€5,295 | +22.2% |
| Operating profit (loss) | 9901 | €9,600 | €15,983 | +€6,383 | +66.5% |
| Financial income | 75/76B | €0 | €1 | +€0 | +88.9% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +88.9% |
| Financial charges | 65/66B | €3,293 | €612 | -€2,681 | -81.4% |
| Recurring financial charges | 65 | €3,293 | €612 | -€2,681 | -81.4% |
| Profit (loss) for the period before taxes | 9903 | €6,308 | €15,372 | +€9,064 | +143.7% |
| Income taxes | 67/77 | €16,907 | -€658 | -€17,565 | |
| Profit (loss) for the period | 9904 | -€10,599 | €16,030 | +€26,629 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,599 | €16,030 | +€26,629 |
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.