VESTA: 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.
What changed
VESTA
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3,291
2024 · €11,975-€8,684
Equity
€792,875
2024 · €795,584-€2,709
Cash
€9,949
2024 · €14,130-€4,181
Balance sheet total
€859,231
2024 · €948,246-€89,015
Largest movements
Assets
- Tangible fixed assets -€49,254
down €49,254 (-8.4%), from €589,097 to €539,843
of which Plant, machinery and equipment: -€116,730
- Receivables within one year -€49,091
down €49,091 (-73.1%), from €67,134 to €18,043
- Receivables after one year +€11,912
up €11,912 (+44.1%), from €27,000 to €38,912
Equity and liabilities
- Short-term financial debts -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Current portion of long-term debt -€36,507
down €36,507 (-92.3%), from €39,568 to €3,061
- Other debts -€22,833
down €22,833 (-77.8%), from €29,353 to €6,521
- Debts after one year +€21,939
up €21,939 (+167.7%), from €13,084 to €35,023
Income statement
- Depreciation +€15,533
up €15,533 (+35.0%), from €44,376 to €59,909
- Financial income +€4,129
up €4,129 (+860214.6%), from €0 to €4,130
- Financial charges -€1,659
down €1,659 (-22.5%), from €7,371 to €5,713
- Taxes -€1,561
down €1,561 (-36.7%), from €4,255 to €2,694
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.
Result 2024
€11,975
Gross operating margin
+€157
Depreciation
-€15,533
Other operating charges
-€657
Financial income
+€4,129
Financial charges
+€1,659
Taxes
+€1,561
Result 2025
€3,291
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.
From operations
+€67,043
Investment
-€10,656
Financing
-€60,568
Cash 2024
€14,130
From operations (derived)
+€67,043
Net result for the year
+€3,291
Depreciation
+€59,909
Receivables after one year
-€11,912
Receivables within one year
+€49,091
Deferred charges and accrued income
-€1,599
Provisions
-€1,597
Trade debts
+€472
Tax, wage and social debts
-€7,056
Advances received
+€96
Other debts
-€22,833
Accrued charges and deferred income
-€820
Investment (derived)
-€10,656
Investment in fixed assets (net)
-€10,656
Financing
-€60,568
Debts after one year
+€21,939
Current portion of long-term debt
-€36,507
Short-term financial debts
-€40,000
Contributions, distributions and other
-€6,000
Cash 2025
€9,949
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €948,246 | €859,231 | -€89,015 | -9.4% |
| Fixed assets | 21/28 | €839,097 | €789,843 | -€49,254 | -5.9% |
| Tangible fixed assets | 22/27 | €589,097 | €539,843 | -€49,254 | -8.4% |
| Land and buildings | 22 | €471,493 | €539,539 | +€68,046 | +14.4% |
| Plant, machinery and equipment | 23 | €117,034 | €304 | -€116,730 | -99.7% |
| Furniture and vehicles | 24 | €571 | - | -€571 | |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €109,148 | €69,387 | -€39,761 | -36.4% |
| Amounts receivable after more than one year | 29 | €27,000 | €38,912 | +€11,912 | +44.1% |
| Other amounts receivable | 291 | €27,000 | €38,912 | +€11,912 | +44.1% |
| Amounts receivable within one year | 40/41 | €67,134 | €18,043 | -€49,091 | -73.1% |
| Other amounts receivable | 41 | €67,134 | €18,043 | -€49,091 | -73.1% |
| Cash at bank and in hand | 54/58 | €14,130 | €9,949 | -€4,181 | -29.6% |
| Deferred charges and accrued income | 490/1 | €884 | €2,484 | +€1,599 | +180.9% |
| Total equity and liabilities | 10/49 | €948,246 | €859,231 | -€89,015 | -9.4% |
| Equity | 10/15 | €795,584 | €792,875 | -€2,709 | -0.3% |
| Contributions | 10/11 | €464,736 | €464,736 | = | 0.0% |
| Capital | 10 | €464,736 | €464,736 | = | 0.0% |
| Issued capital | 100 | €464,736 | €464,736 | = | 0.0% |
| Reserves | 13 | €330,848 | €326,058 | -€4,791 | -1.4% |
| Non-distributable reserves | 130/1 | €46,474 | €46,474 | = | 0.0% |
| Legal reserve | 130 | €46,474 | €46,474 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,068 | €62,277 | -€4,791 | -7.1% |
| Distributable reserves | 133 | €217,307 | €217,307 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €2,081 | +€2,081 | |
| Provisions and deferred taxes | 16 | €22,356 | €20,759 | -€1,597 | -7.1% |
| Deferred taxes | 168 | €22,356 | €20,759 | -€1,597 | -7.1% |
| Amounts payable | 17/49 | €130,305 | €45,597 | -€84,709 | -65.0% |
| Amounts payable after more than one year | 17 | €13,084 | €35,023 | +€21,939 | +167.7% |
| Financial debts | 170/4 | €13,084 | €35,023 | +€21,939 | +167.7% |
| Amounts payable within one year | 42/48 | €116,401 | €10,574 | -€105,827 | -90.9% |
| Current portion of amounts payable after more than one year | 42 | €39,568 | €3,061 | -€36,507 | -92.3% |
| Financial debts | 43 | €40,000 | €0 | -€40,000 | -100.0% |
| Credit institutions | 430/8 | €40,000 | €0 | -€40,000 | -100.0% |
| Trade debts | 44 | €200 | €672 | +€472 | +235.9% |
| Suppliers | 440/4 | €200 | €672 | +€472 | +235.9% |
| Advances received on contracts in progress | 46 | - | €96 | +€96 | |
| Taxes, remuneration and social security | 45 | €7,279 | €223 | -€7,056 | -96.9% |
| Taxes | 450/3 | €7,279 | €223 | -€7,056 | -96.9% |
| Other amounts payable | 47/48 | €29,353 | €6,521 | -€22,833 | -77.8% |
| Accrued charges and deferred income | 492/3 | €820 | €0 | -€820 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,376 | €59,909 | +€15,533 | +35.0% |
| Other operating charges | 640/8 | €21,590 | €22,248 | +€657 | +3.0% |
| Gross operating margin | 9900 | €87,971 | €88,128 | +€157 | +0.2% |
| Operating profit (loss) | 9901 | €22,004 | €5,971 | -€16,033 | -72.9% |
| Financial income | 75/76B | €0 | €4,130 | +€4,129 | +860214.6% |
| Recurring financial income | 75 | €0 | €4,130 | +€4,129 | +860214.6% |
| Financial charges | 65/66B | €7,371 | €5,713 | -€1,659 | -22.5% |
| Recurring financial charges | 65 | €7,371 | €5,713 | -€1,659 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €14,633 | €4,388 | -€10,246 | -70.0% |
| Transfer from deferred taxes | 780 | €1,597 | €1,597 | = | 0.0% |
| Income taxes | 67/77 | €4,255 | €2,694 | -€1,561 | -36.7% |
| Profit (loss) for the period | 9904 | €11,975 | €3,291 | -€8,684 | -72.5% |
| Transfer from tax-exempt reserves | 789 | €4,791 | €4,791 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,766 | €8,081 | -€8,684 | -51.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.