VESTIA: what changed
What changed
VESTIA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€27,419
2024 · €6,543+€20,875
Equity
€264,449
2024 · €237,030+€27,419
Cash
€13,583
2024 · €4,116+€9,468
Balance sheet total
€1.1m
2024 · €1.1m-€39,869
Largest movements
Assets
- Tangible fixed assets -€45,108
down €45,108 (-4.1%), from €1.1m to €1.1m
of which Land and buildings: -€39,308
Equity and liabilities
- Debts after one year -€68,467
down €68,467 (-9.1%), from €749,289 to €680,823
of which Financial debts: -€55,867
- Profit (loss) carried forward +€36,913
up €36,913 (+94.0%), from -€39,257 to -€2,344
Income statement
- Gross operating margin +€24,254
up €24,254 (+42.0%), from €57,812 to €82,066
- Depreciation +€3,889
up €3,889 (+9.4%), from €41,218 to €45,108
- Financial charges -€855
down €855 (-7.1%), from €12,129 to €11,274
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
€6,543
Gross operating margin
+€24,254
Depreciation
-€3,889
Other operating charges
-€345
Financial charges
+€855
Result 2025
€27,419
raises the resultlowers the result
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
+€77,297
Investment
€0
Financing
-€67,830
Cash 2024
€4,116
From operations (derived)
+€77,297
Net result for the year
+€27,419
Depreciation
+€45,108
Receivables within one year
+€4,229
Provisions
-€3,165
Trade debts
+€3,252
Tax, wage and social debts
+€203
Accrued charges and deferred income
+€251
Financing
-€67,830
Debts after one year
-€68,467
Current portion of long-term debt
+€637
Cash 2025
€13,583
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,125,004 | €1,085,135 | -€39,869 | -3.5% |
| Fixed assets | 21/28 | €1,107,675 | €1,062,567 | -€45,108 | -4.1% |
| Tangible fixed assets | 22/27 | €1,107,675 | €1,062,567 | -€45,108 | -4.1% |
| Land and buildings | 22 | €1,057,557 | €1,018,249 | -€39,308 | -3.7% |
| Plant, machinery and equipment | 23 | €50,117 | €44,317 | -€5,800 | -11.6% |
| Current assets | 29/58 | €17,330 | €22,568 | +€5,238 | +30.2% |
| Amounts receivable within one year | 40/41 | €13,214 | €8,985 | -€4,229 | -32.0% |
| Trade receivables | 40 | €13,214 | €7,868 | -€5,347 | -40.5% |
| Other amounts receivable | 41 | - | €1,117 | +€1,117 | |
| Cash at bank and in hand | 54/58 | €4,116 | €13,583 | +€9,468 | +230% |
| Total equity and liabilities | 10/49 | €1,125,004 | €1,085,135 | -€39,869 | -3.5% |
| Equity | 10/15 | €237,030 | €264,449 | +€27,419 | +11.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €257,737 | €248,242 | -€9,495 | -3.7% |
| Tax-exempt reserves | 132 | €257,737 | €248,242 | -€9,495 | -3.7% |
| Profit (loss) carried forward | 14 | -€39,257 | -€2,344 | +€36,913 | +94.0% |
| Provisions and deferred taxes | 16 | €85,912 | €82,747 | -€3,165 | -3.7% |
| Deferred taxes | 168 | €85,912 | €82,747 | -€3,165 | -3.7% |
| Amounts payable | 17/49 | €802,062 | €737,939 | -€64,123 | -8.0% |
| Amounts payable after more than one year | 17 | €749,289 | €680,823 | -€68,467 | -9.1% |
| Financial debts | 170/4 | €730,439 | €674,573 | -€55,867 | -7.6% |
| Other amounts payable | 178/9 | €18,850 | €6,250 | -€12,600 | -66.8% |
| Amounts payable within one year | 42/48 | €44,085 | €48,177 | +€4,092 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €38,230 | €38,867 | +€637 | +1.7% |
| Trade debts | 44 | €2,026 | €5,278 | +€3,252 | +161% |
| Suppliers | 440/4 | €2,026 | €5,278 | +€3,252 | +161% |
| Taxes, remuneration and social security | 45 | €3,830 | €4,033 | +€203 | +5.3% |
| Taxes | 450/3 | €3,830 | €4,033 | +€203 | +5.3% |
| Accrued charges and deferred income | 492/3 | €8,688 | €8,939 | +€251 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,218 | €45,108 | +€3,889 | +9.4% |
| Other operating charges | 640/8 | €1,086 | €1,430 | +€345 | +31.7% |
| Gross operating margin | 9900 | €57,812 | €82,066 | +€24,254 | +42.0% |
| Operating profit (loss) | 9901 | €15,508 | €35,528 | +€20,020 | +129% |
| Financial charges | 65/66B | €12,129 | €11,274 | -€855 | -7.1% |
| Recurring financial charges | 65 | €12,129 | €11,274 | -€855 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €3,379 | €24,254 | +€20,875 | +618% |
| Transfer from deferred taxes | 780 | €3,165 | €3,165 | = | 0.0% |
| Profit (loss) for the period | 9904 | €6,543 | €27,419 | +€20,875 | +319% |
| Transfer from tax-exempt reserves | 789 | €9,495 | €9,495 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,038 | €36,913 | +€20,875 | +130% |
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 5 November 2026 via checked.be.