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.
Vesta
Largest movements
- Cash +€154,267
up €154,267 (+118.8%), from €129,879 to €284,146
mainly Net result for the year (+€241,349) and Depreciation (+€59,391)
- Receivables within one year +€66,459
up €66,459 (+82.7%), from €80,342 to €146,801
of which Trade receivables: +€64,791
- Tangible fixed assets +€18,152
up €18,152 (+30.3%), from €59,939 to €78,092
- Reserves +€229,539
up €229,539 (+221.3%), from €103,735 to €333,273
of which Distributable reserves: +€231,539
- Tax, wage and social debts +€54,049
up €54,049 (+106.9%), from €50,571 to €104,620
of which Taxes: +€56,325
- Trade debts -€27,517
down €27,517 (-68.7%), from €40,028 to €12,511
- Current portion of long-term debt -€7,794
down €7,794 (-57.2%), from €13,637 to €5,843
- Debts after one year -€5,843
no longer reported in 2025 (was €5,843)
- Gross operating margin +€355,332
up €355,332 (+105.0%), from €338,314 to €693,646
- Taxes +€117,244
up €117,244 (+2504.7%), from €4,681 to €121,925
- Staff costs -€22,755
down €22,755 (-7.9%), from €288,294 to €265,539
- Depreciation +€17,999
up €17,999 (+43.5%), from €41,393 to €59,391
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 | €275,923 | €517,625 | +€241,702 | +87.6% |
| Fixed assets | 21/28 | €62,290 | €80,443 | +€18,152 | +29.1% |
| Tangible fixed assets | 22/27 | €59,939 | €78,092 | +€18,152 | +30.3% |
| Furniture and vehicles | 24 | €59,939 | €78,092 | +€18,152 | +30.3% |
| Financial fixed assets | 28 | €2,351 | €2,351 | = | 0.0% |
| Current assets | 29/58 | €213,633 | €437,182 | +€223,549 | +104.6% |
| Amounts receivable within one year | 40/41 | €80,342 | €146,801 | +€66,459 | +82.7% |
| Trade receivables | 40 | €77,909 | €142,700 | +€64,791 | +83.2% |
| Other amounts receivable | 41 | €2,433 | €4,101 | +€1,668 | +68.5% |
| Cash at bank and in hand | 54/58 | €129,879 | €284,146 | +€154,267 | +118.8% |
| Deferred charges and accrued income | 490/1 | €3,412 | €6,235 | +€2,823 | +82.7% |
| Total equity and liabilities | 10/49 | €275,923 | €517,625 | +€241,702 | +87.6% |
| Equity | 10/15 | €165,112 | €394,651 | +€229,539 | +139.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €103,735 | €333,273 | +€229,539 | +221.3% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €101,735 | €333,273 | +€231,539 | +227.6% |
| Profit (loss) carried forward | 14 | €41,377 | €41,377 | = | 0.0% |
| Amounts payable | 17/49 | €110,811 | €122,974 | +€12,163 | +11.0% |
| Amounts payable after more than one year | 17 | €5,843 | - | -€5,843 | |
| Financial debts | 170/4 | €5,843 | - | -€5,843 | |
| Amounts payable within one year | 42/48 | €104,968 | €122,974 | +€18,006 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €13,637 | €5,843 | -€7,794 | -57.2% |
| Trade debts | 44 | €40,028 | €12,511 | -€27,517 | -68.7% |
| Suppliers | 440/4 | €40,028 | €12,511 | -€27,517 | -68.7% |
| Taxes, remuneration and social security | 45 | €50,571 | €104,620 | +€54,049 | +106.9% |
| Taxes | 450/3 | €24,514 | €80,839 | +€56,325 | +229.8% |
| Remuneration and social security | 454/9 | €26,057 | €23,781 | -€2,276 | -8.7% |
| Other amounts payable | 47/48 | €732 | - | -€732 | |
| Remuneration, social security and pensions | 62 | €288,294 | €265,539 | -€22,755 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,393 | €59,391 | +€17,999 | +43.5% |
| Other operating charges | 640/8 | €3,336 | €2,772 | -€565 | -16.9% |
| Gross operating margin | 9900 | €338,314 | €693,646 | +€355,332 | +105.0% |
| Operating profit (loss) | 9901 | €5,291 | €365,944 | +€360,653 | +6816.3% |
| Financial income | 75/76B | €3,616 | €798 | -€2,818 | -77.9% |
| Recurring financial income | 75 | €3,616 | €798 | -€2,818 | -77.9% |
| Financial charges | 65/66B | €3,674 | €3,468 | -€205 | -5.6% |
| Recurring financial charges | 65 | €3,674 | €3,468 | -€205 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €5,234 | €363,273 | +€358,040 | +6841.2% |
| Income taxes | 67/77 | €4,681 | €121,925 | +€117,244 | +2504.7% |
| Profit (loss) for the period | 9904 | €553 | €241,349 | +€240,796 | +43575.9% |
| Profit (loss) for the period to be appropriated | 9905 | €553 | €241,349 | +€240,796 | +43575.9% |
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 8 October 2026 via checked.be.