VESTA & HERMES: 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 & HERMES
Largest movements
- Tangible fixed assets -€234
down €234 (-62.4%), from €375 to €141
- Receivables within one year +€177
up €177 (+18.4%), from €960 to €1,137
of which Trade receivables: +€149
- Debts after one year -€6,902
down €6,902 (-19.1%), from €36,043 to €29,141
- Profit (loss) carried forward +€6,705
up €6,705 (+16.3%), from -€41,031 to -€34,326
- Gross operating margin -€547
down €547 (-6.9%), from €7,937 to €7,390
- Financial income +€84
up €84 (+311%), from €27 to €111
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 | €10,407 | €10,272 | -€135 | -1.3% |
| Fixed assets | 21/28 | €375 | €141 | -€234 | -62.4% |
| Tangible fixed assets | 22/27 | €375 | €141 | -€234 | -62.4% |
| Plant, machinery and equipment | 23 | €375 | €141 | -€234 | -62.4% |
| Current assets | 29/58 | €10,032 | €10,131 | +€99 | +1.0% |
| Amounts receivable within one year | 40/41 | €960 | €1,137 | +€177 | +18.4% |
| Trade receivables | 40 | €955 | €1,104 | +€149 | +15.6% |
| Other amounts receivable | 41 | €5 | €33 | +€28 | +560% |
| Cash at bank and in hand | 54/58 | €9,072 | €8,994 | -€78 | -0.9% |
| Total equity and liabilities | 10/49 | €10,407 | €10,272 | -€135 | -1.3% |
| Equity | 10/15 | -€25,636 | -€18,931 | +€6,705 | +26.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,995 | €2,995 | = | 0.0% |
| Distributable reserves | 133 | €2,995 | €2,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,031 | -€34,326 | +€6,705 | +16.3% |
| Amounts payable | 17/49 | €36,043 | €29,203 | -€6,840 | -19.0% |
| Amounts payable after more than one year | 17 | €36,043 | €29,141 | -€6,902 | -19.1% |
| Other amounts payable | 178/9 | €36,043 | €29,141 | -€6,902 | -19.1% |
| Amounts payable within one year | 42/48 | - | €62 | +€62 | |
| Trade debts | 44 | - | €62 | +€62 | |
| Suppliers | 440/4 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232 | €234 | +€2 | +0.9% |
| Other operating charges | 640/8 | €449 | €462 | +€13 | +2.9% |
| Gross operating margin | 9900 | €7,937 | €7,390 | -€547 | -6.9% |
| Operating profit (loss) | 9901 | €7,256 | €6,694 | -€562 | -7.7% |
| Financial income | 75/76B | €27 | €111 | +€84 | +311% |
| Recurring financial income | 75 | €27 | €111 | +€84 | +311% |
| Financial charges | 65/66B | €67 | €100 | +€33 | +49.3% |
| Recurring financial charges | 65 | €67 | €100 | +€33 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €7,216 | €6,705 | -€511 | -7.1% |
| Profit (loss) for the period | 9904 | €7,216 | €6,705 | -€511 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,216 | €6,705 | -€511 | -7.1% |
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 22 October 2026 via checked.be.