VESTER VASTGOED: what changed
What changed
VESTER VASTGOED
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€346,172
2024 · -€89,624+€435,796
Equity
€1.3m
2024 · €924,705+€346,172
Cash
€368,623
2024 · €4,235+€364,388
Balance sheet total
€1.6m
2024 · €1.3m+€247,363
Largest movements
Assets
- Cash +€364,388
up €364,388 (+8,605%), from €4,235 to €368,623
mainly Net result for the year (+€346,172) and Provisions (+€134,290)
- Tangible fixed assets -€119,693
down €119,693 (-14.2%), from €844,823 to €725,130
of which Land and buildings: -€119,693
Equity and liabilities
- Reserves +€360,492
up €360,492 (+1,866%), from €19,321 to €379,813
of which Tax-exempt reserves: +€360,492
- Debts after one year -€146,754
down €146,754 (-100%), from €146,754 to €0
- Provisions +€134,290
up €134,290 (+1,755%), from €7,652 to €141,941
of which Deferred taxes: +€118,560
- Other debts -€56,448
down €56,448 (-27.9%), from €202,239 to €145,792
- Current portion of long-term debt -€23,807
down €23,807 (-100%), from €23,807 to €0
Income statement
- Gross operating margin +€562,262
up €562,262, from -€43,652 to €518,611
- Depreciation -€22,891
down €22,891 (-44.3%), from €51,673 to €28,782
- Provisions +€15,730
new in 2025: €15,730
- Other operating charges +€6,247
up €6,247 (+99.8%), from €6,261 to €12,509
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€89,624
Gross operating margin
+€562,262
Depreciation
+€22,891
Provisions
-€15,730
Other operating charges
-€6,247
Financial income
-€3,556
Financial charges
+€1,531
Taxes
-€1,834
Deferred taxes and other
-€123,522
Result 2025
€346,172
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€447,954
Investment
+€86,995
Financing
-€170,561
Cash 2024
€4,235
From operations (derived)
+€447,954
Net result for the year
+€346,172
Depreciation
+€28,782
Receivables within one year
-€910
Deferred charges and accrued income
+€2,159
Provisions
+€134,290
Trade debts
-€4,803
Tax, wage and social debts
-€1,287
Other debts
-€56,448
Investment (derived)
+€86,995
Investment in fixed assets (net)
+€90,912
Current investments
-€3,917
Financing
-€170,561
Debts after one year
-€146,754
Current portion of long-term debt
-€23,807
Cash 2025
€368,623
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,321,039 | €1,568,402 | +€247,363 | +18.7% |
| Fixed assets | 21/28 | €847,242 | €727,549 | -€119,693 | -14.1% |
| Tangible fixed assets | 22/27 | €844,823 | €725,130 | -€119,693 | -14.2% |
| Land and buildings | 22 | €843,047 | €723,354 | -€119,693 | -14.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,776 | €1,776 | = | 0.0% |
| Financial fixed assets | 28 | €2,419 | €2,419 | = | 0.0% |
| Current assets | 29/58 | €473,797 | €840,853 | +€367,056 | +77.5% |
| Amounts receivable within one year | 40/41 | €336,062 | €336,972 | +€910 | +0.3% |
| Other amounts receivable | 41 | €336,062 | €336,972 | +€910 | +0.3% |
| Current investments | 50/53 | €131,342 | €135,259 | +€3,917 | +3.0% |
| Cash at bank and in hand | 54/58 | €4,235 | €368,623 | +€364,388 | +8,605% |
| Deferred charges and accrued income | 490/1 | €2,159 | €0 | -€2,159 | -100% |
| Total equity and liabilities | 10/49 | €1,321,039 | €1,568,402 | +€247,363 | +18.7% |
| Equity | 10/15 | €924,705 | €1,270,877 | +€346,172 | +37.4% |
| Contributions | 10/11 | €975,000 | €975,000 | = | 0.0% |
| Reserves | 13 | €19,321 | €379,813 | +€360,492 | +1,866% |
| Non-distributable reserves | 130/1 | €6,343 | €6,343 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,343 | €6,343 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,978 | €373,469 | +€360,492 | +2,778% |
| Profit (loss) carried forward | 14 | -€69,616 | -€83,936 | -€14,320 | -20.6% |
| Provisions and deferred taxes | 16 | €7,652 | €141,941 | +€134,290 | +1,755% |
| Provisions for liabilities and charges | 160/5 | - | €15,730 | +€15,730 | |
| Major repairs and maintenance | 162 | - | €15,730 | +€15,730 | |
| Deferred taxes | 168 | €7,652 | €126,211 | +€118,560 | +1,549% |
| Amounts payable | 17/49 | €388,683 | €155,584 | -€233,099 | -60.0% |
| Amounts payable after more than one year | 17 | €146,754 | €0 | -€146,754 | -100% |
| Financial debts | 170/4 | €146,754 | €0 | -€146,754 | -100% |
| Amounts payable within one year | 42/48 | €241,929 | €155,584 | -€86,345 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €23,807 | €0 | -€23,807 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €14,106 | €9,302 | -€4,803 | -34.1% |
| Suppliers | 440/4 | €14,106 | €9,302 | -€4,803 | -34.1% |
| Taxes, remuneration and social security | 45 | €1,777 | €490 | -€1,287 | -72.4% |
| Taxes | 450/3 | €1,777 | €490 | -€1,287 | -72.4% |
| Other amounts payable | 47/48 | €202,239 | €145,792 | -€56,448 | -27.9% |
| Non-recurring operating income | 76A | - | €494,088 | +€494,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,673 | €28,782 | -€22,891 | -44.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €15,730 | +€15,730 | |
| Other operating charges | 640/8 | €6,261 | €12,509 | +€6,247 | +99.8% |
| Gross operating margin | 9900 | -€43,652 | €518,611 | +€562,262 | |
| Operating profit (loss) | 9901 | -€101,586 | €461,590 | +€563,176 | |
| Financial income | 75/76B | €14,291 | €10,734 | -€3,556 | -24.9% |
| Recurring financial income | 75 | €14,291 | €10,734 | -€3,556 | -24.9% |
| Financial charges | 65/66B | €5,812 | €4,280 | -€1,531 | -26.4% |
| Recurring financial charges | 65 | €5,812 | €4,280 | -€1,531 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€93,107 | €468,044 | +€561,151 | |
| Transfer from deferred taxes | 780 | €4,962 | €4,962 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €123,522 | +€123,522 | |
| Income taxes | 67/77 | €1,479 | €3,313 | +€1,834 | +124% |
| Profit (loss) for the period | 9904 | -€89,624 | €346,172 | +€435,796 | |
| Transfer from tax-exempt reserves | 789 | €10,075 | €10,075 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €370,566 | +€370,566 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,550 | -€14,320 | +€65,230 | +82.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.