VSP Retie: what changed
What changed
VSP Retie
filed annual accounts (NBB)
Net result for the year
€247,460
2024 · €150,638+€96,822
Equity
€285,153
2024 · €37,694+€247,460
Cash
€89
2024 · €482-€393
Balance sheet total
€8.9m
2024 · €10.3m-€1.3m
Largest movements
Assets
- Receivables within one year -€1.2m
down €1.2m (-21.0%), from €5.8m to €4.6m
of which Other amounts receivable: -€1.2m
- Tangible fixed assets -€213,114
down €213,114 (-4.8%), from €4.4m to €4.2m
Equity and liabilities
- Other debts -€1.1m
no longer reported in 2025 (was €1.1m)
- Debts after one year -€473,489
down €473,489 (-5.5%), from €8.6m to €8.1m
- Reserves +€247,460
up €247,460 (+1,296%), from €19,094 to €266,553
Income statement
- Financial income +€87,282
up €87,282 (+713%), from €12,245 to €99,527
- Taxes +€32,274
up €32,274 (+64.3%), from €50,213 to €82,487
- Financial charges -€25,954
down €25,954 (-6.9%), from €377,027 to €351,073
- Gross operating margin +€23,721
up €23,721 (+3.0%), from €781,613 to €805,334
- Other operating charges +€8,243
up €8,243 (+332%), from €2,484 to €10,727
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
€150,638
Gross operating margin
+€23,721
Depreciation
+€382
Other operating charges
-€8,243
Financial income
+€87,282
Financial charges
+€25,954
Taxes
-€32,274
Result 2025
€247,460
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
+€476,784
Investment
€0
Financing
-€477,176
Cash 2024
€482
From operations (derived)
+€476,784
Net result for the year
+€247,460
Depreciation
+€213,114
Receivables within one year
+€1.2m
Deferred charges and accrued income
-€87,478
Trade debts
-€1,804
Tax, wage and social debts
-€16,297
Other debts
-€1.1m
Financing
-€477,176
Debts after one year
-€473,489
Current portion of long-term debt
+€18,328
Short-term financial debts
-€22,015
Cash 2025
€89
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,254,225 | €8,906,407 | -€1.3m | -13.1% |
| Fixed assets | 21/28 | €4,436,835 | €4,223,721 | -€213,114 | -4.8% |
| Tangible fixed assets | 22/27 | €4,436,835 | €4,223,721 | -€213,114 | -4.8% |
| Land and buildings | 22 | €4,436,835 | €4,223,721 | -€213,114 | -4.8% |
| Current assets | 29/58 | €5,817,390 | €4,682,686 | -€1.1m | -19.5% |
| Amounts receivable within one year | 40/41 | €5,804,860 | €4,583,071 | -€1.2m | -21.0% |
| Trade receivables | 40 | €201,560 | €205,748 | +€4,188 | +2.1% |
| Other amounts receivable | 41 | €5,603,300 | €4,377,323 | -€1.2m | -21.9% |
| Cash at bank and in hand | 54/58 | €482 | €89 | -€393 | -81.5% |
| Deferred charges and accrued income | 490/1 | €12,048 | €99,527 | +€87,478 | +726% |
| Total equity and liabilities | 10/49 | €10,254,225 | €8,906,407 | -€1.3m | -13.1% |
| Equity | 10/15 | €37,694 | €285,153 | +€247,460 | +657% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,094 | €266,553 | +€247,460 | +1,296% |
| Distributable reserves | 133 | €19,094 | €266,553 | +€247,460 | +1,296% |
| Amounts payable | 17/49 | €10,216,531 | €8,621,254 | -€1.6m | -15.6% |
| Amounts payable after more than one year | 17 | €8,607,305 | €8,133,816 | -€473,489 | -5.5% |
| Financial debts | 170/4 | €8,607,305 | €8,133,816 | -€473,489 | -5.5% |
| Amounts payable within one year | 42/48 | €1,609,226 | €487,438 | -€1.1m | -69.7% |
| Current portion of amounts payable after more than one year | 42 | €455,162 | €473,489 | +€18,328 | +4.0% |
| Financial debts | 43 | €30,427 | €8,412 | -€22,015 | -72.4% |
| Credit institutions | 430/8 | €30,427 | €8,412 | -€22,015 | -72.4% |
| Trade debts | 44 | €4,854 | €3,050 | -€1,804 | -37.2% |
| Suppliers | 440/4 | €4,854 | €3,050 | -€1,804 | -37.2% |
| Taxes, remuneration and social security | 45 | €18,783 | €2,487 | -€16,297 | -86.8% |
| Taxes | 450/3 | €18,783 | €2,487 | -€16,297 | -86.8% |
| Other amounts payable | 47/48 | €1,100,000 | - | -€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,496 | €213,114 | -€382 | -0.2% |
| Other operating charges | 640/8 | €2,484 | €10,727 | +€8,243 | +332% |
| Gross operating margin | 9900 | €781,613 | €805,334 | +€23,721 | +3.0% |
| Operating profit (loss) | 9901 | €565,633 | €581,493 | +€15,860 | +2.8% |
| Financial income | 75/76B | €12,245 | €99,527 | +€87,282 | +713% |
| Recurring financial income | 75 | €12,245 | €99,527 | +€87,282 | +713% |
| Financial charges | 65/66B | €377,027 | €351,073 | -€25,954 | -6.9% |
| Recurring financial charges | 65 | €377,027 | €351,073 | -€25,954 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €200,851 | €329,946 | +€129,096 | +64.3% |
| Income taxes | 67/77 | €50,213 | €82,487 | +€32,274 | +64.3% |
| Profit (loss) for the period | 9904 | €150,638 | €247,460 | +€96,822 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €150,638 | €247,460 | +€96,822 | +64.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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.