VANTURO: 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
VANTURO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€319,346
2024 · €503,946-€184,601
Equity
€3.3m
2024 · €3.0m+€318,487
Cash
€197,522
2024 · €172,942+€24,580
Balance sheet total
€3.4m
2024 · €3.1m+€279,426
Largest movements
Assets
- Current investments +€328,401
up €328,401 (+14.9%), from €2.2m to €2.5m
- Tangible fixed assets -€37,650
down €37,650 (-7.0%), from €537,033 to €499,383
Equity and liabilities
- Reserves +€318,487
up €318,487 (+10.7%), from €3.0m to €3.3m
of which Distributable reserves: +€310,067
Income statement
- Gross operating margin -€288,563
down €288,563 (-37.6%), from €766,740 to €478,177
- Taxes -€70,242
down €70,242 (-32.8%), from €214,043 to €143,801
- Financial charges -€18,871
down €18,871 (-72.1%), from €26,184 to €7,313
- Financial income +€14,960
up €14,960 (+42.7%), from €35,045 to €50,004
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
€503,946
Gross operating margin
-€288,563
Depreciation
-€2,429
Other operating charges
+€2,318
Financial income
+€14,960
Financial charges
+€18,871
Taxes
+€70,242
Result 2025
€319,346
raises the resultlowers the result
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
+€364,867
Investment
-€339,428
Financing
-€859
Cash 2024
€172,942
From operations (derived)
+€364,867
Net result for the year
+€319,346
Depreciation
+€48,677
Receivables within one year
+€23,905
Deferred charges and accrued income
+€12,000
Trade debts
-€2,038
Tax, wage and social debts
-€10,833
Other debts
-€26,189
Investment (derived)
-€339,428
Investment in fixed assets (net)
-€11,027
Current investments
-€328,401
Financing
-€859
Contributions, distributions and other
-€859
Cash 2025
€197,522
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,120,001 | €3,399,427 | +€279,426 | +9.0% |
| Fixed assets | 21/28 | €537,033 | €499,383 | -€37,650 | -7.0% |
| Tangible fixed assets | 22/27 | €537,033 | €499,383 | -€37,650 | -7.0% |
| Land and buildings | 22 | €422,960 | €405,203 | -€17,757 | -4.2% |
| Plant, machinery and equipment | 23 | €9,360 | €7,432 | -€1,929 | -20.6% |
| Furniture and vehicles | 24 | €100,733 | €83,172 | -€17,561 | -17.4% |
| Other tangible fixed assets | 26 | €3,980 | €3,576 | -€404 | -10.1% |
| Current assets | 29/58 | €2,582,968 | €2,900,045 | +€317,076 | +12.3% |
| Amounts receivable within one year | 40/41 | €199,954 | €176,049 | -€23,905 | -12.0% |
| Trade receivables | 40 | €151,919 | €106,355 | -€45,564 | -30.0% |
| Other amounts receivable | 41 | €48,035 | €69,694 | +€21,659 | +45.1% |
| Current investments | 50/53 | €2,198,073 | €2,526,474 | +€328,401 | +14.9% |
| Cash at bank and in hand | 54/58 | €172,942 | €197,522 | +€24,580 | +14.2% |
| Deferred charges and accrued income | 490/1 | €12,000 | €0 | -€12,000 | -100% |
| Total equity and liabilities | 10/49 | €3,120,001 | €3,399,427 | +€279,426 | +9.0% |
| Equity | 10/15 | €2,978,128 | €3,296,614 | +€318,487 | +10.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,965,728 | €3,284,214 | +€318,487 | +10.7% |
| Tax-exempt reserves | 132 | €328,380 | €336,800 | +€8,420 | +2.6% |
| Distributable reserves | 133 | €2,637,348 | €2,947,414 | +€310,067 | +11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €141,874 | €102,813 | -€39,061 | -27.5% |
| Amounts payable within one year | 42/48 | €140,894 | €101,833 | -€39,061 | -27.7% |
| Trade debts | 44 | €6,094 | €4,056 | -€2,038 | -33.4% |
| Suppliers | 440/4 | €6,094 | €4,056 | -€2,038 | -33.4% |
| Taxes, remuneration and social security | 45 | €12,982 | €2,148 | -€10,833 | -83.5% |
| Taxes | 450/3 | €12,982 | €2,148 | -€10,833 | -83.5% |
| Other amounts payable | 47/48 | €121,818 | €95,628 | -€26,189 | -21.5% |
| Accrued charges and deferred income | 492/3 | €980 | €980 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,248 | €48,677 | +€2,429 | +5.3% |
| Other operating charges | 640/8 | €11,363 | €9,045 | -€2,318 | -20.4% |
| Gross operating margin | 9900 | €766,740 | €478,177 | -€288,563 | -37.6% |
| Operating profit (loss) | 9901 | €709,129 | €420,455 | -€288,674 | -40.7% |
| Financial income | 75/76B | €35,045 | €50,004 | +€14,960 | +42.7% |
| Recurring financial income | 75 | €35,045 | €50,004 | +€14,960 | +42.7% |
| Financial charges | 65/66B | €26,184 | €7,313 | -€18,871 | -72.1% |
| Recurring financial charges | 65 | €26,184 | €7,313 | -€18,871 | -72.1% |
| Profit (loss) for the period before taxes | 9903 | €717,989 | €463,146 | -€254,843 | -35.5% |
| Income taxes | 67/77 | €214,043 | €143,801 | -€70,242 | -32.8% |
| Profit (loss) for the period | 9904 | €503,946 | €319,346 | -€184,601 | -36.6% |
| Transfer from tax-exempt reserves | 789 | €0 | €126,300 | +€126,300 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | €84,200 | -€42,100 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €377,646 | €361,446 | -€16,201 | -4.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.