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
- Stocks and contracts -€1.7m
down €1.7m (-86.5%), from €2.0m to €268,946
- Tangible fixed assets +€1.0m
up €1.0m (+24.8%), from €4.1m to €5.1m
of which Land and buildings: +€1.0m
- Current investments +€250,000
new in 2025: €250,000
- Reserves -€227,917
down €227,917 (-14.5%), from €1.6m to €1.3m
of which Distributable reserves: -€227,917
- Other debts -€153,071
down €153,071 (-4.1%), from €3.8m to €3.6m
- Depreciation +€56,222
up €56,222 (+30.7%), from €183,155 to €239,377
- Financial charges -€53,097
down €53,097 (-63.2%), from €83,955 to €30,858
- Gross operating margin -€14,470
down €14,470 (-22.2%), from €65,194 to €50,724
- Taxes +€8,293
up €8,293 (+4859.2%), from €171 to €8,463
- Other operating charges +€1,146
up €1,146 (+13.0%), from €8,824 to €9,970
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 | €6,228,852 | €5,783,676 | -€445,176 | -7.1% |
| Fixed assets | 21/28 | €4,129,237 | €5,150,408 | +€1.0m | +24.7% |
| Intangible fixed assets | 21 | €695 | €102 | -€593 | -85.3% |
| Tangible fixed assets | 22/27 | €4,127,012 | €5,148,776 | +€1.0m | +24.8% |
| Land and buildings | 22 | €4,100,524 | €5,128,897 | +€1.0m | +25.1% |
| Plant, machinery and equipment | 23 | €14,325 | €10,442 | -€3,884 | -27.1% |
| Furniture and vehicles | 24 | €12,163 | €9,437 | -€2,725 | -22.4% |
| Financial fixed assets | 28 | €1,530 | €1,530 | = | 0.0% |
| Current assets | 29/58 | €2,099,615 | €633,268 | -€1.5m | -69.8% |
| Stocks and contracts in progress | 3 | €1,996,689 | €268,946 | -€1.7m | -86.5% |
| Stocks | 30/36 | €1,996,689 | €268,946 | -€1.7m | -86.5% |
| Amounts receivable within one year | 40/41 | €2,496 | €39,787 | +€37,291 | +1493.8% |
| Other amounts receivable | 41 | €2,496 | €39,787 | +€37,291 | +1493.8% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €96,934 | €70,243 | -€26,690 | -27.5% |
| Deferred charges and accrued income | 490/1 | €3,496 | €4,292 | +€796 | +22.8% |
| Total equity and liabilities | 10/49 | €6,228,852 | €5,783,676 | -€445,176 | -7.1% |
| Equity | 10/15 | €1,576,932 | €1,349,015 | -€227,917 | -14.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,570,732 | €1,342,815 | -€227,917 | -14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,250 | €9,250 | = | 0.0% |
| Distributable reserves | 133 | €1,559,622 | €1,331,705 | -€227,917 | -14.6% |
| Amounts payable | 17/49 | €4,651,920 | €4,434,661 | -€217,259 | -4.7% |
| Amounts payable after more than one year | 17 | €788,200 | €736,669 | -€51,531 | -6.5% |
| Financial debts | 170/4 | €788,200 | €736,669 | -€51,531 | -6.5% |
| Amounts payable within one year | 42/48 | €3,863,721 | €3,697,993 | -€165,728 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €46,874 | €50,316 | +€3,442 | +7.3% |
| Trade debts | 44 | €47,802 | €31,702 | -€16,100 | -33.7% |
| Suppliers | 440/4 | €47,802 | €31,702 | -€16,100 | -33.7% |
| Taxes, remuneration and social security | 45 | €1,100 | €1,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,100 | €1,100 | = | 0.0% |
| Other amounts payable | 47/48 | €3,767,945 | €3,614,874 | -€153,071 | -4.1% |
| Non-recurring operating income | 76A | €71,073 | - | -€71,073 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,155 | €239,377 | +€56,222 | +30.7% |
| Other operating charges | 640/8 | €8,824 | €9,970 | +€1,146 | +13.0% |
| Non-recurring operating charges | 66A | €5,911 | - | -€5,911 | |
| Gross operating margin | 9900 | €65,194 | €50,724 | -€14,470 | -22.2% |
| Operating profit (loss) | 9901 | -€132,696 | -€198,623 | -€65,927 | -49.7% |
| Financial income | 75/76B | €8,891 | €10,028 | +€1,137 | +12.8% |
| Recurring financial income | 75 | €8,891 | €10,028 | +€1,137 | +12.8% |
| Financial charges | 65/66B | €83,955 | €30,858 | -€53,097 | -63.2% |
| Recurring financial charges | 65 | €83,955 | €30,858 | -€53,097 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | -€207,760 | -€219,453 | -€11,693 | -5.6% |
| Income taxes | 67/77 | €171 | €8,463 | +€8,293 | +4859.2% |
| Profit (loss) for the period | 9904 | -€207,931 | -€227,917 | -€19,986 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€207,931 | -€227,917 | -€19,986 | -9.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.