CHRISTOPHE VENTURINI: 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.
CHRISTOPHE VENTURINI
Largest movements
- Cash +€790,892
up €790,892 (+30.8%), from €2.6m to €3.4m
mainly Net result for the year (+€986,666) and Other debts (+€788,283)
- Deferred charges and accrued income -€88,365
down €88,365 (-60.3%), from €146,558 to €58,193
- Tangible fixed assets -€48,503
down €48,503 (-22.7%), from €213,406 to €164,903
of which Furniture and vehicles: -€28,726
- Receivables within one year +€48,000
up €48,000 (+282%), from €17,000 to €65,000
- Other debts +€788,283
up €788,283 (+320%), from €246,644 to €1.0m
- Reserves -€55,000
down €55,000 (-2.0%), from €2.7m to €2.7m
of which Distributable reserves: -€55,000
- Gross operating margin +€95,291
up €95,291 (+6.5%), from €1.5m to €1.6m
- Financial income +€92,877
up €92,877 (+739%), from €12,564 to €105,441
- Staff costs +€65,540
up €65,540 (+34.0%), from €192,815 to €258,356
- Taxes -€32,518
down €32,518 (-8.4%), from €387,277 to €354,760
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 | €3,345,004 | €4,050,364 | +€705,360 | +21.1% |
| Fixed assets | 21/28 | €214,021 | €165,518 | -€48,503 | -22.7% |
| Tangible fixed assets | 22/27 | €213,406 | €164,903 | -€48,503 | -22.7% |
| Land and buildings | 22 | €51,291 | €38,377 | -€12,914 | -25.2% |
| Plant, machinery and equipment | 23 | €1,462 | €987 | -€475 | -32.5% |
| Furniture and vehicles | 24 | €113,455 | €84,729 | -€28,726 | -25.3% |
| Other tangible fixed assets | 26 | €47,198 | €40,810 | -€6,388 | -13.5% |
| Financial fixed assets | 28 | €615 | €615 | = | 0.0% |
| Current assets | 29/58 | €3,130,983 | €3,884,846 | +€753,863 | +24.1% |
| Amounts receivable within one year | 40/41 | €17,000 | €65,000 | +€48,000 | +282% |
| Other amounts receivable | 41 | €17,000 | €65,000 | +€48,000 | +282% |
| Current investments | 50/53 | €399,440 | €402,776 | +€3,336 | +0.8% |
| Cash at bank and in hand | 54/58 | €2,567,985 | €3,358,877 | +€790,892 | +30.8% |
| Deferred charges and accrued income | 490/1 | €146,558 | €58,193 | -€88,365 | -60.3% |
| Total equity and liabilities | 10/49 | €3,345,004 | €4,050,364 | +€705,360 | +21.1% |
| Equity | 10/15 | €3,000,680 | €2,947,346 | -€53,334 | -1.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,722,000 | €2,667,000 | -€55,000 | -2.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,720,000 | €2,665,000 | -€55,000 | -2.0% |
| Profit (loss) carried forward | 14 | €258,680 | €260,346 | +€1,666 | +0.6% |
| Amounts payable | 17/49 | €344,324 | €1,103,018 | +€758,694 | +220% |
| Amounts payable within one year | 42/48 | €344,324 | €1,103,018 | +€758,694 | +220% |
| Trade debts | 44 | €3,205 | €9,184 | +€5,980 | +187% |
| Suppliers | 440/4 | €3,205 | €9,184 | +€5,980 | +187% |
| Taxes, remuneration and social security | 45 | €94,476 | €58,907 | -€35,569 | -37.6% |
| Taxes | 450/3 | €93,144 | €32,000 | -€61,144 | -65.6% |
| Remuneration and social security | 454/9 | €1,331 | €26,907 | +€25,575 | +1,921% |
| Other amounts payable | 47/48 | €246,644 | €1,034,927 | +€788,283 | +320% |
| Remuneration, social security and pensions | 62 | €192,815 | €258,356 | +€65,540 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,982 | €55,784 | +€8,802 | +18.7% |
| Other operating charges | 640/8 | €6,273 | €11,487 | +€5,214 | +83.1% |
| Gross operating margin | 9900 | €1,467,958 | €1,563,249 | +€95,291 | +6.5% |
| Operating profit (loss) | 9901 | €1,221,887 | €1,237,622 | +€15,735 | +1.3% |
| Financial income | 75/76B | €12,564 | €105,441 | +€92,877 | +739% |
| Recurring financial income | 75 | €12,564 | €105,441 | +€92,877 | +739% |
| Financial charges | 65/66B | €1,325 | €1,637 | +€312 | +23.5% |
| Recurring financial charges | 65 | €1,325 | €1,637 | +€312 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €1,233,126 | €1,341,426 | +€108,300 | +8.8% |
| Income taxes | 67/77 | €387,277 | €354,760 | -€32,518 | -8.4% |
| Profit (loss) for the period | 9904 | €845,849 | €986,666 | +€140,817 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €845,849 | €986,666 | +€140,817 | +16.6% |
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 25 October 2026 via checked.be.