VEXTI: 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.
VEXTI
Largest movements
- Cash +€182,022
up €182,022 (+124%), from €146,709 to €328,731
mainly Other debts (+€272,130) and Net result for the year (+€255,785)
- Tangible fixed assets -€34,452
down €34,452 (-3.1%), from €1.1m to €1.1m
of which Land and buildings: -€18,751
- Current investments -€15,836
down €15,836 (-17.8%), from €88,765 to €72,929
- Receivables within one year -€15,721
down €15,721 (-33.2%), from €47,322 to €31,601
of which Other amounts receivable: -€39,497
- Other debts +€272,130
up €272,130, from €0 to €272,130
- Reserves -€84,052
down €84,052 (-10.6%), from €793,299 to €709,247
of which Distributable reserves: -€84,052
- Debts after one year -€46,088
down €46,088 (-11.6%), from €399,004 to €352,916
- Tax, wage and social debts -€17,174
down €17,174 (-83.5%), from €20,558 to €3,384
- Gross operating margin +€78,520
up €78,520 (+23.9%), from €328,194 to €406,714
- Taxes +€5,845
up €5,845 (+7.9%), from €73,745 to €79,590
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 | €1,409,221 | €1,525,356 | +€116,135 | +8.2% |
| Fixed assets | 21/28 | €1,122,285 | €1,087,833 | -€34,452 | -3.1% |
| Tangible fixed assets | 22/27 | €1,122,285 | €1,087,833 | -€34,452 | -3.1% |
| Land and buildings | 22 | €1,071,534 | €1,052,783 | -€18,751 | -1.7% |
| Plant, machinery and equipment | 23 | €1,594 | €1,391 | -€204 | -12.8% |
| Furniture and vehicles | 24 | €45,513 | €32,803 | -€12,710 | -27.9% |
| Other tangible fixed assets | 26 | €3,643 | €856 | -€2,786 | -76.5% |
| Current assets | 29/58 | €286,937 | €437,523 | +€150,587 | +52.5% |
| Amounts receivable within one year | 40/41 | €47,322 | €31,601 | -€15,721 | -33.2% |
| Trade receivables | 40 | €1,825 | €25,601 | +€23,776 | +1,303% |
| Other amounts receivable | 41 | €45,497 | €6,000 | -€39,497 | -86.8% |
| Current investments | 50/53 | €88,765 | €72,929 | -€15,836 | -17.8% |
| Cash at bank and in hand | 54/58 | €146,709 | €328,731 | +€182,022 | +124% |
| Deferred charges and accrued income | 490/1 | €4,142 | €4,263 | +€122 | +2.9% |
| Total equity and liabilities | 10/49 | €1,409,221 | €1,525,356 | +€116,135 | +8.2% |
| Equity | 10/15 | €811,899 | €727,847 | -€84,052 | -10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €793,299 | €709,247 | -€84,052 | -10.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,240 | €185,240 | = | 0.0% |
| Distributable reserves | 133 | €606,199 | €522,147 | -€84,052 | -13.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €125,002 | €114,586 | -€10,416 | -8.3% |
| Provisions for liabilities and charges | 160/5 | €125,002 | €114,586 | -€10,416 | -8.3% |
| Environmental obligations | 163 | €125,002 | €0 | -€125,002 | -100% |
| Other liabilities and charges | 164/5 | - | €114,586 | +€114,586 | |
| Amounts payable | 17/49 | €472,320 | €682,923 | +€210,603 | +44.6% |
| Amounts payable after more than one year | 17 | €399,004 | €352,916 | -€46,088 | -11.6% |
| Financial debts | 170/4 | €399,004 | €352,916 | -€46,088 | -11.6% |
| Amounts payable within one year | 42/48 | €73,316 | €330,007 | +€256,691 | +350% |
| Current portion of amounts payable after more than one year | 42 | €45,732 | €46,088 | +€356 | +0.8% |
| Trade debts | 44 | €7,026 | €8,405 | +€1,379 | +19.6% |
| Suppliers | 440/4 | €7,026 | €8,405 | +€1,379 | +19.6% |
| Taxes, remuneration and social security | 45 | €20,558 | €3,384 | -€17,174 | -83.5% |
| Taxes | 450/3 | €20,558 | €3,384 | -€17,174 | -83.5% |
| Other amounts payable | 47/48 | €0 | €272,130 | +€272,130 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,666 | €41,148 | -€3,518 | -7.9% |
| Other operating charges | 640/8 | €6,124 | €5,022 | -€1,103 | -18.0% |
| Non-recurring operating charges | 66A | - | €17,280 | +€17,280 | |
| Gross operating margin | 9900 | €328,194 | €406,714 | +€78,520 | +23.9% |
| Operating profit (loss) | 9901 | €277,404 | €343,264 | +€65,860 | +23.7% |
| Financial income | 75/76B | €3,799 | €2,510 | -€1,289 | -33.9% |
| Recurring financial income | 75 | €3,799 | €2,510 | -€1,289 | -33.9% |
| Financial charges | 65/66B | €9,381 | €10,399 | +€1,018 | +10.8% |
| Recurring financial charges | 65 | €9,381 | €10,399 | +€1,018 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €271,822 | €335,375 | +€63,553 | +23.4% |
| Income taxes | 67/77 | €73,745 | €79,590 | +€5,845 | +7.9% |
| Profit (loss) for the period | 9904 | €198,076 | €255,785 | +€57,709 | +29.1% |
| Transfer to tax-exempt reserves | 689 | €75,780 | €0 | -€75,780 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €122,296 | €255,785 | +€133,489 | +109% |
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 15 October 2026 via checked.be.