V.E.N.: 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.
V.E.N.
Largest movements
- Cash -€27,332
down €27,332 (-84.1%), from €32,493 to €5,160
mainly Receivables within one year (-€18,591) and Trade debts (-€12,408)
- Receivables within one year +€18,591
up €18,591 (+49.2%), from €37,783 to €56,374
of which Trade receivables: +€9,695
- Tangible fixed assets -€16,083
down €16,083 (-32.5%), from €49,524 to €33,441
of which Furniture and vehicles: -€11,543
- Stocks and contracts +€3,949
up €3,949 (+21.7%), from €18,218 to €22,166
- Trade debts -€12,408
down €12,408 (-57.8%), from €21,469 to €9,060
- Debts after one year -€6,849
down €6,849 (-54.0%), from €12,690 to €5,841
- Tax, wage and social debts -€5,463
down €5,463 (-100.0%), from €5,463 to €0
of which Taxes: -€5,463
- Reserves +€3,655
up €3,655 (+5.0%), from €73,136 to €76,791
of which Distributable reserves: +€3,655
- Gross operating margin -€284,812
down €284,812 (-92.3%), from €308,499 to €23,687
- Depreciation -€174,994
down €174,994 (-91.6%), from €191,077 to €16,083
- Staff costs -€31,973
down €31,973 (-100.0%), from €31,973 to €0
- Taxes -€24,685
down €24,685 (-95.1%), from €25,958 to €1,273
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.
Cash bridge derived
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 | €138,017 | €117,141 | -€20,876 | -15.1% |
| Fixed assets | 21/28 | €49,524 | €33,441 | -€16,083 | -32.5% |
| Tangible fixed assets | 22/27 | €49,524 | €33,441 | -€16,083 | -32.5% |
| Land and buildings | 22 | €2,726 | €2,447 | -€279 | -10.2% |
| Plant, machinery and equipment | 23 | €15,407 | €11,146 | -€4,261 | -27.7% |
| Furniture and vehicles | 24 | €31,392 | €19,848 | -€11,543 | -36.8% |
| Current assets | 29/58 | €88,493 | €83,700 | -€4,793 | -5.4% |
| Stocks and contracts in progress | 3 | €18,218 | €22,166 | +€3,949 | +21.7% |
| Contracts in progress | 37 | €18,218 | €22,166 | +€3,949 | +21.7% |
| Amounts receivable within one year | 40/41 | €37,783 | €56,374 | +€18,591 | +49.2% |
| Trade receivables | 40 | €5,762 | €15,457 | +€9,695 | +168.3% |
| Other amounts receivable | 41 | €32,021 | €40,916 | +€8,896 | +27.8% |
| Cash at bank and in hand | 54/58 | €32,493 | €5,160 | -€27,332 | -84.1% |
| Total equity and liabilities | 10/49 | €138,017 | €117,141 | -€20,876 | -15.1% |
| Equity | 10/15 | €91,736 | €95,391 | +€3,655 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,136 | €76,791 | +€3,655 | +5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €73,136 | €76,791 | +€3,655 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €46,281 | €21,751 | -€24,530 | -53.0% |
| Amounts payable after more than one year | 17 | €12,690 | €5,841 | -€6,849 | -54.0% |
| Financial debts | 170/4 | €12,690 | €5,841 | -€6,849 | -54.0% |
| Amounts payable within one year | 42/48 | €33,591 | €15,910 | -€17,681 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €6,659 | €6,849 | +€190 | +2.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €21,469 | €9,060 | -€12,408 | -57.8% |
| Suppliers | 440/4 | €21,469 | €9,060 | -€12,408 | -57.8% |
| Taxes, remuneration and social security | 45 | €5,463 | €0 | -€5,463 | -100.0% |
| Taxes | 450/3 | €5,463 | €0 | -€5,463 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €31,973 | €0 | -€31,973 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,077 | €16,083 | -€174,994 | -91.6% |
| Other operating charges | 640/8 | €2,049 | €2,667 | +€619 | +30.2% |
| Gross operating margin | 9900 | €308,499 | €23,687 | -€284,812 | -92.3% |
| Operating profit (loss) | 9901 | €83,400 | €4,936 | -€78,464 | -94.1% |
| Financial income | 75/76B | €133 | €1,733 | +€1,601 | +1207.8% |
| Recurring financial income | 75 | €133 | €1,733 | +€1,601 | +1207.8% |
| Financial charges | 65/66B | €2,947 | €1,742 | -€1,205 | -40.9% |
| Recurring financial charges | 65 | €2,947 | €1,742 | -€1,205 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €80,586 | €4,928 | -€75,658 | -93.9% |
| Income taxes | 67/77 | €25,958 | €1,273 | -€24,685 | -95.1% |
| Profit (loss) for the period | 9904 | €54,628 | €3,655 | -€50,974 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,628 | €3,655 | -€50,974 | -93.3% |
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 11 October 2026 via checked.be.