VESTAL: 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.
VESTAL
Largest movements
- Cash -€84,911
down €84,911 (-16.1%), from €527,629 to €442,719
mainly Investment in fixed assets (net) (-€147,598) and Trade debts (-€136,550)
- Tangible fixed assets +€63,298
up €63,298 (+8.2%), from €771,664 to €834,963
of which Land and buildings: +€88,446
- Receivables within one year -€21,829
down €21,829 (-5.5%), from €393,463 to €371,634
of which Other amounts receivable: -€13,708
- Reserves +€137,300
up €137,300 (+14.3%), from €958,596 to €1.1m
- Trade debts -€136,550
down €136,550 (-63.5%), from €215,157 to €78,606
- Debts after one year -€44,541
down €44,541 (-13.6%), from €327,861 to €283,319
- Gross operating margin +€54,319
up €54,319 (+22.8%), from €237,876 to €292,195
- Depreciation +€15,318
up €15,318 (+22.2%), from €68,982 to €84,300
- Taxes +€10,187
up €10,187 (+22.2%), from €45,955 to €56,142
- Financial charges +€4,273
up €4,273 (+57.8%), from €7,389 to €11,662
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 | €1,795,853 | €1,765,914 | -€29,939 | -1.7% |
| Fixed assets | 21/28 | €773,164 | €836,463 | +€63,298 | +8.2% |
| Tangible fixed assets | 22/27 | €771,664 | €834,963 | +€63,298 | +8.2% |
| Land and buildings | 22 | €448,562 | €537,008 | +€88,446 | +19.7% |
| Plant, machinery and equipment | 23 | €1,355 | €5,453 | +€4,098 | +302% |
| Furniture and vehicles | 24 | €28,735 | €22,937 | -€5,798 | -20.2% |
| Leasing and similar rights | 25 | €222,754 | €209,216 | -€13,538 | -6.1% |
| Other tangible fixed assets | 26 | €70,259 | €58,534 | -€11,724 | -16.7% |
| Assets under construction and advance payments | 27 | - | €1,815 | +€1,815 | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €1,022,688 | €929,451 | -€93,237 | -9.1% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Trade receivables | 290 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €393,463 | €371,634 | -€21,829 | -5.5% |
| Trade receivables | 40 | €353,472 | €345,352 | -€8,121 | -2.3% |
| Other amounts receivable | 41 | €39,990 | €26,282 | -€13,708 | -34.3% |
| Current investments | 50/53 | €74,557 | €84,118 | +€9,561 | +12.8% |
| Cash at bank and in hand | 54/58 | €527,629 | €442,719 | -€84,911 | -16.1% |
| Deferred charges and accrued income | 490/1 | €7,040 | €10,981 | +€3,941 | +56.0% |
| Total equity and liabilities | 10/49 | €1,795,853 | €1,765,914 | -€29,939 | -1.7% |
| Equity | 10/15 | €1,055,720 | €1,193,020 | +€137,301 | +13.0% |
| Contributions | 10/11 | €94,410 | €94,410 | = | 0.0% |
| Reserves | 13 | €958,596 | €1,095,896 | +€137,300 | +14.3% |
| Distributable reserves | 133 | €958,596 | €1,095,896 | +€137,300 | +14.3% |
| Profit (loss) carried forward | 14 | €2,714 | €2,714 | +€1 | 0.0% |
| Amounts payable | 17/49 | €740,133 | €572,894 | -€167,239 | -22.6% |
| Amounts payable after more than one year | 17 | €327,861 | €283,319 | -€44,541 | -13.6% |
| Financial debts | 170/4 | €327,861 | €283,319 | -€44,541 | -13.6% |
| Amounts payable within one year | 42/48 | €409,550 | €283,850 | -€125,700 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €45,210 | €45,455 | +€246 | +0.5% |
| Trade debts | 44 | €215,157 | €78,606 | -€136,550 | -63.5% |
| Suppliers | 440/4 | €215,157 | €78,606 | -€136,550 | -63.5% |
| Taxes, remuneration and social security | 45 | €2,719 | €14,778 | +€12,059 | +444% |
| Taxes | 450/3 | €861 | €12,920 | +€12,059 | +1,401% |
| Remuneration and social security | 454/9 | €1,858 | €1,858 | = | 0.0% |
| Other amounts payable | 47/48 | €146,464 | €145,010 | -€1,454 | -1.0% |
| Accrued charges and deferred income | 492/3 | €2,723 | €5,725 | +€3,002 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,982 | €84,300 | +€15,318 | +22.2% |
| Other operating charges | 640/8 | €5,459 | €4,865 | -€594 | -10.9% |
| Gross operating margin | 9900 | €237,876 | €292,195 | +€54,319 | +22.8% |
| Operating profit (loss) | 9901 | €163,436 | €203,030 | +€39,594 | +24.2% |
| Financial income | 75/76B | €831 | €2,074 | +€1,243 | +150% |
| Recurring financial income | 75 | €831 | €2,074 | +€1,243 | +150% |
| Financial charges | 65/66B | €7,389 | €11,662 | +€4,273 | +57.8% |
| Recurring financial charges | 65 | €7,389 | €11,662 | +€4,273 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | €156,878 | €193,443 | +€36,565 | +23.3% |
| Income taxes | 67/77 | €45,955 | €56,142 | +€10,187 | +22.2% |
| Profit (loss) for the period | 9904 | €110,923 | €137,301 | +€26,378 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €110,923 | €137,301 | +€26,378 | +23.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.