VEXST: 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.
VEXST
Largest movements
- Tangible fixed assets -€56,459
no longer reported in 2025 (was €56,459)
- Cash +€2,452
up €2,452 (+30.9%), from €7,929 to €10,380
mainly Investment in fixed assets (net) (+€56,459) and Tax, wage and social debts (+€10,796)
- Deferred charges and accrued income +€796
up €796 (+7,240%), from €11 to €807
- Trade debts -€53,179
down €53,179 (-99.8%), from €53,279 to €100
- Profit (loss) carried forward -€15,439
down €15,439, from €5,643 to -€9,795
- Tax, wage and social debts +€10,796
up €10,796 (+580%), from €1,862 to €12,658
- Other debts +€4,421
up €4,421 (+74.7%), from €5,916 to €10,337
- Gross operating margin -€19,966
down €19,966, from €19,298 to -€668
- Depreciation -€11,515
no longer reported in 2025 (was €11,515)
- Taxes -€1,862
no longer reported in 2025 (was €1,862)
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 | €68,701 | €15,300 | -€53,401 | -77.7% |
| Fixed assets | 21/28 | €56,459 | - | -€56,459 | |
| Tangible fixed assets | 22/27 | €56,459 | - | -€56,459 | |
| Furniture and vehicles | 24 | €56,459 | - | -€56,459 | |
| Current assets | 29/58 | €12,242 | €15,300 | +€3,057 | +25.0% |
| Amounts receivable within one year | 40/41 | €4,303 | €4,112 | -€191 | -4.4% |
| Trade receivables | 40 | €4,112 | €4,112 | = | 0.0% |
| Other amounts receivable | 41 | €191 | - | -€191 | |
| Cash at bank and in hand | 54/58 | €7,929 | €10,380 | +€2,452 | +30.9% |
| Deferred charges and accrued income | 490/1 | €11 | €807 | +€796 | +7,240% |
| Total equity and liabilities | 10/49 | €68,701 | €15,300 | -€53,401 | -77.7% |
| Equity | 10/15 | €7,643 | -€7,795 | -€15,439 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,643 | -€9,795 | -€15,439 | |
| Amounts payable | 17/49 | €61,058 | €23,095 | -€37,963 | -62.2% |
| Amounts payable within one year | 42/48 | €61,058 | €23,095 | -€37,963 | -62.2% |
| Trade debts | 44 | €53,279 | €100 | -€53,179 | -99.8% |
| Suppliers | 440/4 | €53,279 | €100 | -€53,179 | -99.8% |
| Taxes, remuneration and social security | 45 | €1,862 | €12,658 | +€10,796 | +580% |
| Taxes | 450/3 | €1,862 | €12,658 | +€10,796 | +580% |
| Other amounts payable | 47/48 | €5,916 | €10,337 | +€4,421 | +74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,515 | - | -€11,515 | |
| Other operating charges | 640/8 | €171 | €131 | -€40 | -23.4% |
| Non-recurring operating charges | 66A | - | €14,540 | +€14,540 | |
| Gross operating margin | 9900 | €19,298 | -€668 | -€19,966 | |
| Operating profit (loss) | 9901 | €7,613 | -€15,339 | -€22,952 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €107 | €100 | -€7 | -6.8% |
| Recurring financial charges | 65 | €107 | €100 | -€7 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €7,506 | -€15,439 | -€22,944 | |
| Income taxes | 67/77 | €1,862 | - | -€1,862 | |
| Profit (loss) for the period | 9904 | €5,643 | -€15,439 | -€21,082 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,643 | -€15,439 | -€21,082 |
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 29 October 2026 via checked.be.