6K venture capital: 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
6K venture capital
NACE 64.999, Other financial services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€7.1m
2024 · -€1.6m+€8.7m
Equity
€119.8m
2024 · €112.8m+€7.1m
Cash
€706,191
2024 · €1.5m-€819,394
Balance sheet total
€130.1m
2024 · €123.6m+€6.6m
Largest movements
Assets
- Financial fixed assets +€16.7m
up €16.7m (+23.5%), from €71.0m to €87.7m
of which Other financial fixed assets: +€17.4m
- Current investments -€9.0m
down €9.0m (-18.1%), from €49.6m to €40.6m
Equity and liabilities
- Profit (loss) carried forward +€6.1m
up €6.1m (+69.3%), from -€8.8m to -€2.7m
- Short-term financial debts -€1.6m
no longer reported in 2025 (was €1.6m)
- Other debts +€1.4m
up €1.4m (+16.0%), from €8.7m to €10.0m
Income statement
- Financial income +€14.8m
up €14.8m (+394%), from €3.8m to €18.6m
of which Non-recurring financial income: +€14.0m
- Financial charges +€5.0m
up €5.0m (+151%), from €3.3m to €8.3m
of which Non-recurring financial charges: +€4.4m
- Taxes +€1.1m
new in 2025: €1.1m
- Services and other goods +€65,681
up €65,681 (+3.2%), from €2.1m to €2.1m
- Other operating income -€27,467
down €27,467 (-86.7%), from €31,671 to €4,204
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
-€1.6m
Turnover
+€3,000
Other operating income
-€27,467
Services and other goods
-€65,681
Other operating charges
+€6,444
Other operating items
+€26,543
Financial income
+€14.8m
Financial charges
-€5.0m
Taxes
-€1.1m
Result 2025
€7.1m
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
+€8.5m
Investment
-€7.7m
Financing
-€1.6m
Cash 2024
€1.5m
From operations (derived)
+€8.5m
Net result for the year
+€7.1m
Receivables within one year
+€562,793
Deferred charges and accrued income
-€235,014
Trade debts
-€308,143
Other debts
+€1.4m
Accrued charges and deferred income
+€15,941
Investment (derived)
-€7.7m
Investment in fixed assets (net)
-€16.7m
Current investments
+€9.0m
Financing
-€1.6m
Short-term financial debts
-€1.6m
Cash 2025
€706,191
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,569,210 | €130,133,717 | +€6.6m | +5.3% |
| Fixed assets | 21/28 | €70,988,505 | €87,701,627 | +€16.7m | +23.5% |
| Financial fixed assets | 28 | €70,988,505 | €87,701,627 | +€16.7m | +23.5% |
| Affiliated companies | 280/1 | €1,262,500 | €1,518,777 | +€256,277 | +20.3% |
| Participating interests | 280 | €1,262,500 | €1,247,296 | -€15,204 | -1.2% |
| Amounts receivable | 281 | - | €271,481 | +€271,481 | |
| Companies linked by participating interests | 282/3 | €2,234,395 | €1,329,060 | -€905,335 | -40.5% |
| Participating interests | 282 | €1,755,641 | €1,193,526 | -€562,115 | -32.0% |
| Amounts receivable | 283 | €478,754 | €135,534 | -€343,220 | -71.7% |
| Other financial fixed assets | 284/8 | €67,491,610 | €84,853,790 | +€17.4m | +25.7% |
| Shares | 284 | €12,279,043 | €15,476,784 | +€3.2m | +26.0% |
| Amounts receivable and cash guarantees | 285/8 | €55,212,567 | €69,377,006 | +€14.2m | +25.7% |
| Current assets | 29/58 | €52,580,705 | €42,432,090 | -€10.1m | -19.3% |
| Amounts receivable within one year | 40/41 | €1,182,005 | €619,212 | -€562,793 | -47.6% |
| Trade receivables | 40 | €729,571 | €209,462 | -€520,109 | -71.3% |
| Other amounts receivable | 41 | €452,434 | €409,750 | -€42,684 | -9.4% |
| Current investments | 50/53 | €49,599,331 | €40,597,889 | -€9.0m | -18.1% |
| Other investments | 51/53 | €49,599,331 | €40,597,889 | -€9.0m | -18.1% |
| Cash at bank and in hand | 54/58 | €1,525,585 | €706,191 | -€819,394 | -53.7% |
| Deferred charges and accrued income | 490/1 | €273,784 | €508,798 | +€235,014 | +85.8% |
| Total equity and liabilities | 10/49 | €123,569,210 | €130,133,717 | +€6.6m | +5.3% |
| Equity | 10/15 | €112,775,048 | €119,842,819 | +€7.1m | +6.3% |
| Contributions | 10/11 | €121,206,922 | €121,206,922 | = | 0.0% |
| Capital | 10 | €121,206,922 | €121,206,922 | = | 0.0% |
| Issued capital | 100 | €121,206,922 | €121,206,922 | = | 0.0% |
| Reserves | 13 | €327,500 | €1,325,270 | +€997,770 | +305% |
| Non-distributable reserves | 130/1 | €327,500 | €327,500 | = | 0.0% |
| Legal reserve | 130 | €327,500 | €327,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €997,770 | +€997,770 | |
| Profit (loss) carried forward | 14 | -€8,759,374 | -€2,689,373 | +€6.1m | +69.3% |
| Amounts payable | 17/49 | €10,794,162 | €10,290,898 | -€503,264 | -4.7% |
| Amounts payable within one year | 42/48 | €10,794,162 | €10,274,957 | -€519,205 | -4.8% |
| Financial debts | 43 | €1,600,000 | - | -€1.6m | |
| Other loans | 439 | €1,600,000 | - | -€1.6m | |
| Trade debts | 44 | €534,978 | €226,835 | -€308,143 | -57.6% |
| Suppliers | 440/4 | €534,978 | €226,835 | -€308,143 | -57.6% |
| Other amounts payable | 47/48 | €8,659,184 | €10,048,122 | +€1.4m | +16.0% |
| Accrued charges and deferred income | 492/3 | - | €15,941 | +€15,941 | |
| Operating income | 70/76A | €31,671 | €34,148 | +€2,477 | +7.8% |
| Turnover | 70 | - | €3,000 | +€3,000 | |
| Other operating income | 74 | €31,671 | €4,204 | -€27,467 | -86.7% |
| Non-recurring operating income | 76A | - | €26,944 | +€26,944 | |
| Operating charges | 60/66A | €2,090,234 | €2,149,872 | +€59,638 | +2.9% |
| Services and other goods | 61 | €2,078,359 | €2,144,040 | +€65,681 | +3.2% |
| Other operating charges | 640/8 | €11,875 | €5,431 | -€6,444 | -54.3% |
| Non-recurring operating charges | 66A | - | €401 | +€401 | |
| Operating profit (loss) | 9901 | -€2,058,563 | -€2,115,724 | -€57,161 | -2.8% |
| Financial income | 75/76B | €3,761,500 | €18,588,661 | +€14.8m | +394% |
| Recurring financial income | 75 | €2,694,061 | €3,486,310 | +€792,249 | +29.4% |
| Income from financial fixed assets | 750 | €2,694,061 | €3,486,310 | +€792,249 | +29.4% |
| Non-recurring financial income | 76B | €1,067,439 | €15,102,351 | +€14.0m | +1,315% |
| Financial charges | 65/66B | €3,303,275 | €8,300,935 | +€5.0m | +151% |
| Recurring financial charges | 65 | €193,077 | €821,533 | +€628,456 | +325% |
| Debt charges | 650 | €83,834 | €259,478 | +€175,644 | +210% |
| Other financial charges | 652/9 | €109,243 | €562,055 | +€452,812 | +414% |
| Non-recurring financial charges | 66B | €3,110,198 | €7,479,402 | +€4.4m | +140% |
| Profit (loss) for the period before taxes | 9903 | -€1,600,338 | €8,172,002 | +€9.8m | |
| Income taxes | 67/77 | - | €1,104,231 | +€1.1m | |
| Taxes | 670/3 | - | €1,104,231 | +€1.1m | |
| Profit (loss) for the period | 9904 | -€1,600,338 | €7,067,771 | +€8.7m | |
| Transfer to tax-exempt reserves | 689 | - | €997,770 | +€997,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,600,338 | €6,070,001 | +€7.7m |
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 20 October 2026 via checked.be.