Vesta: 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.
Vesta
Largest movements
- Receivables within one year +€134,814
up €134,814 (+37.4%), from €360,932 to €495,747
of which Other amounts receivable: +€110,702
- Cash -€22,158
down €22,158 (-31.8%), from €69,763 to €47,606
mainly Receivables within one year (-€134,814) and Current portion of long-term debt (-€60,538)
- Tangible fixed assets +€21,672
up €21,672 (+34.8%), from €62,364 to €84,036
of which Other tangible fixed assets: +€22,417
- Deferred charges and accrued income +€9,226
up €9,226 (+193%), from €4,779 to €14,005
- Trade debts +€153,195
up €153,195 (+118%), from €129,583 to €282,778
- Reserves +€86,303
up €86,303 (+293%), from €29,409 to €115,712
- Current portion of long-term debt -€60,538
down €60,538 (-81.5%), from €74,311 to €13,773
- Tax, wage and social debts +€31,890
up €31,890 (+48.5%), from €65,781 to €97,671
of which Taxes: +€20,286
- Profit (loss) carried forward -€21,487
down €21,487 (-24.9%), from €86,303 to €64,816
- Gross operating margin +€96,349
up €96,349 (+19.4%), from €497,506 to €593,854
- Staff costs +€93,637
up €93,637 (+27.9%), from €336,066 to €429,703
- Financial charges +€18,824
up €18,824 (+259%), from €7,281 to €26,106
- Taxes -€10,714
down €10,714 (-26.5%), from €40,457 to €29,744
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 | €515,384 | €669,382 | +€153,998 | +29.9% |
| Fixed assets | 21/28 | €69,637 | €101,753 | +€32,115 | +46.1% |
| Intangible fixed assets | 21 | €5,151 | €11,394 | +€6,243 | +121% |
| Tangible fixed assets | 22/27 | €62,364 | €84,036 | +€21,672 | +34.8% |
| Plant, machinery and equipment | 23 | €698 | €349 | -€349 | -50.0% |
| Furniture and vehicles | 24 | €7,827 | €22,369 | +€14,541 | +186% |
| Leasing and similar rights | 25 | €52,343 | €37,405 | -€14,937 | -28.5% |
| Other tangible fixed assets | 26 | €1,496 | €23,914 | +€22,417 | +1,498% |
| Financial fixed assets | 28 | €2,122 | €6,322 | +€4,200 | +198% |
| Current assets | 29/58 | €445,747 | €567,629 | +€121,883 | +27.3% |
| Stocks and contracts in progress | 3 | €10,272 | €10,272 | = | 0.0% |
| Stocks | 30/36 | €10,272 | €10,272 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €360,932 | €495,747 | +€134,814 | +37.4% |
| Trade receivables | 40 | €249,283 | €273,395 | +€24,112 | +9.7% |
| Other amounts receivable | 41 | €111,649 | €222,351 | +€110,702 | +99.2% |
| Cash at bank and in hand | 54/58 | €69,763 | €47,606 | -€22,158 | -31.8% |
| Deferred charges and accrued income | 490/1 | €4,779 | €14,005 | +€9,226 | +193% |
| Total equity and liabilities | 10/49 | €515,384 | €669,382 | +€153,998 | +29.9% |
| Equity | 10/15 | €184,312 | €249,127 | +€64,816 | +35.2% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €29,409 | €115,712 | +€86,303 | +293% |
| Distributable reserves | 133 | €29,409 | €115,712 | +€86,303 | +293% |
| Profit (loss) carried forward | 14 | €86,303 | €64,816 | -€21,487 | -24.9% |
| Amounts payable | 17/49 | €331,072 | €420,255 | +€89,182 | +26.9% |
| Amounts payable after more than one year | 17 | €38,328 | €24,555 | -€13,773 | -35.9% |
| Financial debts | 170/4 | €38,328 | €24,555 | -€13,773 | -35.9% |
| Amounts payable within one year | 42/48 | €291,699 | €394,246 | +€102,547 | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €74,311 | €13,773 | -€60,538 | -81.5% |
| Financial debts | 43 | €12,000 | €0 | -€12,000 | -100% |
| Credit institutions | 430/8 | €12,000 | €0 | -€12,000 | -100% |
| Trade debts | 44 | €129,583 | €282,778 | +€153,195 | +118% |
| Suppliers | 440/4 | €129,583 | €282,778 | +€153,195 | +118% |
| Taxes, remuneration and social security | 45 | €65,781 | €97,671 | +€31,890 | +48.5% |
| Taxes | 450/3 | €31,579 | €51,865 | +€20,286 | +64.2% |
| Remuneration and social security | 454/9 | €34,203 | €45,806 | +€11,604 | +33.9% |
| Other amounts payable | 47/48 | €10,024 | €24 | -€10,000 | -99.8% |
| Accrued charges and deferred income | 492/3 | €1,046 | €1,454 | +€408 | +39.0% |
| Remuneration, social security and pensions | 62 | €336,066 | €429,703 | +€93,637 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,163 | €25,710 | +€2,548 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,395 | €9,657 | +€4,262 | +79.0% |
| Other operating charges | 640/8 | €3,491 | €4,731 | +€1,239 | +35.5% |
| Non-recurring operating charges | 66A | - | €6,356 | +€6,356 | |
| Gross operating margin | 9900 | €497,506 | €593,854 | +€96,349 | +19.4% |
| Operating profit (loss) | 9901 | €129,390 | €117,697 | -€11,693 | -9.0% |
| Financial income | 75/76B | €4,651 | €2,967 | -€1,683 | -36.2% |
| Recurring financial income | 75 | €4,651 | €2,967 | -€1,683 | -36.2% |
| Financial charges | 65/66B | €7,281 | €26,106 | +€18,824 | +259% |
| Recurring financial charges | 65 | €7,281 | €26,106 | +€18,824 | +259% |
| Profit (loss) for the period before taxes | 9903 | €126,760 | €94,559 | -€32,201 | -25.4% |
| Income taxes | 67/77 | €40,457 | €29,744 | -€10,714 | -26.5% |
| Profit (loss) for the period | 9904 | €86,303 | €64,816 | -€21,487 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,303 | €64,816 | -€21,487 | -24.9% |
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 18 October 2026 via checked.be.