VESTIMA: 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.
What changed
VESTIMA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€187,942
2024 · €370,874-€182,932
Equity
€2.6m
2024 · €2.4m+€178,874
Cash
€1.3m
2024 · €1.0m+€220,545
Balance sheet total
€3.0m
2024 · €2.9m+€124,720
Largest movements
Assets
- Cash +€220,545
up €220,545 (+21.1%), from €1.0m to €1.3m
mainly Net result for the year (+€187,942) and Depreciation (+€91,342)
- Tangible fixed assets -€81,802
down €81,802 (-4.6%), from €1.8m to €1.7m
of which Land and buildings: -€88,497
Equity and liabilities
- Reserves +€244,874
up €244,874 (+69.5%), from €352,257 to €597,131
of which Distributable reserves: +€178,874
- Debts after one year -€71,350
down €71,350 (-22.4%), from €318,138 to €246,788
- Profit (loss) carried forward -€66,000
down €66,000 (-8.4%), from €782,012 to €716,012
Income statement
- Gross operating margin -€224,817
down €224,817 (-32.9%), from €683,985 to €459,167
- Taxes +€14,320
up €14,320 (+21.2%), from €67,604 to €81,924
- Financial income +€10,091
up €10,091 (+70.0%), from €14,424 to €24,515
- Staff costs +€7,493
up €7,493 (+8.6%), from €87,498 to €94,990
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.
Result 2024
€370,874
Gross operating margin
-€224,817
Staff costs
-€7,493
Depreciation
-€811
Other operating charges
+€803
Financial income
+€10,091
Financial charges
+€2,155
Taxes
-€14,320
Deferred taxes and other
+€51,460
Result 2025
€187,942
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€308,425
Investment
-€9,540
Financing
-€78,340
Cash 2024
€1.0m
From operations (derived)
+€308,425
Net result for the year
+€187,942
Depreciation
+€91,342
Receivables within one year
+€15,314
Deferred charges and accrued income
-€1,291
Trade debts
-€3,415
Tax, wage and social debts
+€14,857
Other debts
+€3,610
Accrued charges and deferred income
+€66
Investment (derived)
-€9,540
Investment in fixed assets (net)
-€9,540
Financing
-€78,340
Debts after one year
-€71,350
Current portion of long-term debt
+€2,078
Contributions, distributions and other
-€9,068
Cash 2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,886,363 | €3,011,082 | +€124,720 | +4.3% |
| Fixed assets | 21/28 | €1,776,041 | €1,694,239 | -€81,802 | -4.6% |
| Tangible fixed assets | 22/27 | €1,776,041 | €1,694,239 | -€81,802 | -4.6% |
| Land and buildings | 22 | €1,772,627 | €1,684,130 | -€88,497 | -5.0% |
| Furniture and vehicles | 24 | €3,414 | €10,109 | +€6,696 | +196% |
| Current assets | 29/58 | €1,110,322 | €1,316,844 | +€206,522 | +18.6% |
| Amounts receivable within one year | 40/41 | €51,862 | €36,548 | -€15,314 | -29.5% |
| Trade receivables | 40 | €45,404 | €34,334 | -€11,069 | -24.4% |
| Other amounts receivable | 41 | €6,458 | €2,213 | -€4,245 | -65.7% |
| Cash at bank and in hand | 54/58 | €1,042,770 | €1,263,315 | +€220,545 | +21.1% |
| Deferred charges and accrued income | 490/1 | €15,690 | €16,981 | +€1,291 | +8.2% |
| Total equity and liabilities | 10/49 | €2,886,363 | €3,011,082 | +€124,720 | +4.3% |
| Equity | 10/15 | €2,384,269 | €2,563,143 | +€178,874 | +7.5% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €352,257 | €597,131 | +€244,874 | +69.5% |
| Non-distributable reserves | 130/1 | €60,200 | €126,200 | +€66,000 | +110% |
| Legal reserve | 130 | €60,200 | €126,200 | +€66,000 | +110% |
| Tax-exempt reserves | 132 | €165,081 | €165,081 | = | 0.0% |
| Distributable reserves | 133 | €126,976 | €305,850 | +€178,874 | +141% |
| Profit (loss) carried forward | 14 | €782,012 | €716,012 | -€66,000 | -8.4% |
| Provisions and deferred taxes | 16 | €51,460 | €51,460 | = | 0.0% |
| Deferred taxes | 168 | €51,460 | €51,460 | = | 0.0% |
| Amounts payable | 17/49 | €450,634 | €396,479 | -€54,154 | -12.0% |
| Amounts payable after more than one year | 17 | €318,138 | €246,788 | -€71,350 | -22.4% |
| Financial debts | 170/4 | €318,138 | €246,788 | -€71,350 | -22.4% |
| Amounts payable within one year | 42/48 | €131,488 | €148,618 | +€17,130 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €69,272 | €71,350 | +€2,078 | +3.0% |
| Trade debts | 44 | €19,975 | €16,560 | -€3,415 | -17.1% |
| Suppliers | 440/4 | €19,975 | €16,560 | -€3,415 | -17.1% |
| Taxes, remuneration and social security | 45 | €7,406 | €22,263 | +€14,857 | +201% |
| Taxes | 450/3 | €0 | €14,569 | +€14,569 | |
| Remuneration and social security | 454/9 | €7,406 | €7,694 | +€288 | +3.9% |
| Other amounts payable | 47/48 | €34,835 | €38,445 | +€3,610 | +10.4% |
| Accrued charges and deferred income | 492/3 | €1,007 | €1,073 | +€66 | +6.6% |
| Non-recurring operating income | 76A | - | €776 | +€776 | |
| Remuneration, social security and pensions | 62 | €87,498 | €94,990 | +€7,493 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,531 | €91,342 | +€811 | +0.9% |
| Other operating charges | 640/8 | €16,821 | €16,018 | -€803 | -4.8% |
| Gross operating margin | 9900 | €683,985 | €459,167 | -€224,817 | -32.9% |
| Operating profit (loss) | 9901 | €489,135 | €256,816 | -€232,318 | -47.5% |
| Financial income | 75/76B | €14,424 | €24,515 | +€10,091 | +70.0% |
| Recurring financial income | 75 | €14,424 | €24,515 | +€10,091 | +70.0% |
| Financial charges | 65/66B | €13,621 | €11,466 | -€2,155 | -15.8% |
| Recurring financial charges | 65 | €13,621 | €11,466 | -€2,155 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €489,938 | €269,866 | -€220,072 | -44.9% |
| Transfer to deferred taxes | 680 | €51,460 | €0 | -€51,460 | -100% |
| Income taxes | 67/77 | €67,604 | €81,924 | +€14,320 | +21.2% |
| Profit (loss) for the period | 9904 | €370,874 | €187,942 | -€182,932 | -49.3% |
| Transfer to tax-exempt reserves | 689 | €154,381 | €0 | -€154,381 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €216,493 | €187,942 | -€28,551 | -13.2% |
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 15 October 2026 via checked.be.