A homogeneous set of UBV photometry (354 data points obtained between 1983
and 1998) for the Be/X-ray binary A0535+26 = V725 Tau is analysed, aiming t
o look for possible periodic component(s). After subtraction of the long-te
rm variation it was found that only a approximate to 103(d) periodic compon
ent remains in the power spectra in both the V and B colour bands. The prob
ability of chance occurrence of such a peak is less than 0.1%. There are no
signs of optical variability at the X-ray period (approximate to 111(d)).
We discuss possible reasons for a 103-day modulation and suggest that it co
rresponds to a beat frequency of the orbital period of the neutron star and
the precession period (approximate to 1400(d)) either of an accretion disc
around the neutron star or a warped decretion disc around the Be star.