VESPIRI: 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.
VESPIRI
Largest movements
- Cash +€21,092
up €21,092 (+65.8%), from €32,033 to €53,126
mainly Net result for the year (+€27,210) and Depreciation (+€9,382)
- Tangible fixed assets -€9,382
down €9,382 (-25.8%), from €36,322 to €26,939
- Receivables within one year +€1,755
up €1,755 (+72.4%), from €2,424 to €4,178
- Reserves +€27,210
up €27,210 (+125%), from €21,852 to €49,062
- Debts after one year -€10,887
down €10,887 (-51.1%), from €21,314 to €10,427
- Other debts -€2,504
down €2,504 (-63.7%), from €3,928 to €1,424
- Trade debts -€2,341
down €2,341 (-73.3%), from €3,193 to €852
- Tax, wage and social debts +€1,774
up €1,774 (+19.8%), from €8,978 to €10,752
- Gross operating margin +€4,655
up €4,655 (+11.4%), from €40,803 to €45,458
- Taxes +€1,502
up €1,502 (+26.5%), from €5,671 to €7,173
- Depreciation -€1,208
down €1,208 (-11.4%), from €10,591 to €9,382
- Financial charges -€750
down €750 (-35.1%), from €2,137 to €1,387
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 | €73,160 | €86,562 | +€13,402 | +18.3% |
| Fixed assets | 21/28 | €36,322 | €26,939 | -€9,382 | -25.8% |
| Tangible fixed assets | 22/27 | €36,322 | €26,939 | -€9,382 | -25.8% |
| Furniture and vehicles | 24 | €36,322 | €26,939 | -€9,382 | -25.8% |
| Current assets | 29/58 | €36,839 | €59,623 | +€22,784 | +61.8% |
| Amounts receivable within one year | 40/41 | €2,424 | €4,178 | +€1,755 | +72.4% |
| Trade receivables | 40 | €2,424 | €4,178 | +€1,755 | +72.4% |
| Cash at bank and in hand | 54/58 | €32,033 | €53,126 | +€21,092 | +65.8% |
| Deferred charges and accrued income | 490/1 | €2,382 | €2,319 | -€63 | -2.6% |
| Total equity and liabilities | 10/49 | €73,160 | €86,562 | +€13,402 | +18.3% |
| Equity | 10/15 | €24,852 | €52,062 | +€27,210 | +109% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,852 | €49,062 | +€27,210 | +125% |
| Distributable reserves | 133 | €21,852 | €49,062 | +€27,210 | +125% |
| Amounts payable | 17/49 | €48,309 | €34,501 | -€13,808 | -28.6% |
| Amounts payable after more than one year | 17 | €21,314 | €10,427 | -€10,887 | -51.1% |
| Financial debts | 170/4 | €21,314 | €10,427 | -€10,887 | -51.1% |
| Amounts payable within one year | 42/48 | €26,995 | €24,074 | -€2,921 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €10,400 | €10,887 | +€487 | +4.7% |
| Financial debts | 43 | €496 | €158 | -€337 | -68.0% |
| Credit institutions | 430/8 | €496 | €158 | -€337 | -68.0% |
| Trade debts | 44 | €3,193 | €852 | -€2,341 | -73.3% |
| Suppliers | 440/4 | €3,193 | €852 | -€2,341 | -73.3% |
| Taxes, remuneration and social security | 45 | €8,978 | €10,752 | +€1,774 | +19.8% |
| Taxes | 450/3 | €8,978 | €10,752 | +€1,774 | +19.8% |
| Other amounts payable | 47/48 | €3,928 | €1,424 | -€2,504 | -63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,591 | €9,382 | -€1,208 | -11.4% |
| Other operating charges | 640/8 | €553 | €306 | -€247 | -44.7% |
| Gross operating margin | 9900 | €40,803 | €45,458 | +€4,655 | +11.4% |
| Operating profit (loss) | 9901 | €29,660 | €35,770 | +€6,110 | +20.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +900% |
| Financial charges | 65/66B | €2,137 | €1,387 | -€750 | -35.1% |
| Recurring financial charges | 65 | €2,137 | €1,387 | -€750 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €27,523 | €34,383 | +€6,860 | +24.9% |
| Income taxes | 67/77 | €5,671 | €7,173 | +€1,502 | +26.5% |
| Profit (loss) for the period | 9904 | €21,852 | €27,210 | +€5,358 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,852 | €27,210 | +€5,358 | +24.5% |
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 19 October 2026 via checked.be.