VASCO VENTURI: 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.
VASCO VENTURI
Largest movements
- Tangible fixed assets -€9,737
down €9,737 (-10.8%), from €89,914 to €80,176
- Receivables within one year +€6,903
up €6,903 (+53.8%), from €12,827 to €19,730
of which Trade receivables: +€9,203
- Cash -€1,126
no longer reported in 2025 (was €1,126)
mainly Other debts (-€10,398) and Current portion of long-term debt (-€10,200)
- Other debts -€10,398
down €10,398 (-27.9%), from €37,264 to €26,866
- Current portion of long-term debt -€10,200
down €10,200 (-87.6%), from €11,643 to €1,443
- Reserves +€8,617
up €8,617 (+31.8%), from €27,076 to €35,693
of which Non-distributable reserves: +€8,617
- Trade debts +€5,794
up €5,794 (+54.7%), from €10,583 to €16,377
of which Suppliers: +€6,496
- Short-term financial debts +€2,721
up €2,721 (+105%), from €2,581 to €5,301
- Purchases and services -€41,033
down €41,033 (-37.9%), from €108,395 to €67,362
- Turnover -€40,672
down €40,672 (-36.0%), from €112,917 to €72,245
- Gross operating margin +€6,061
up €6,061 (+33.3%), from €18,207 to €24,268
- Taxes +€3,408
up €3,408 (+1,530%), from €223 to €3,630
- Other operating charges -€1,618
down €1,618 (-71.8%), from €2,255 to €637
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 | €104,966 | €100,480 | -€4,486 | -4.3% |
| Fixed assets | 21/28 | €90,464 | €80,726 | -€9,737 | -10.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €89,914 | €80,176 | -€9,737 | -10.8% |
| Land and buildings | 22 | €67,174 | €63,457 | -€3,717 | -5.5% |
| Plant, machinery and equipment | 23 | €1,029 | €156 | -€873 | -84.9% |
| Furniture and vehicles | 24 | €2,125 | €1,429 | -€695 | -32.7% |
| Other tangible fixed assets | 26 | €19,586 | €15,135 | -€4,452 | -22.7% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €14,503 | €19,754 | +€5,251 | +36.2% |
| Stocks and contracts in progress | 3 | €520 | - | -€520 | |
| Stocks | 30/36 | €520 | - | -€520 | |
| Amounts receivable within one year | 40/41 | €12,827 | €19,730 | +€6,903 | +53.8% |
| Trade receivables | 40 | €7,949 | €17,152 | +€9,203 | +116% |
| Other amounts receivable | 41 | €4,878 | €2,578 | -€2,300 | -47.2% |
| Cash at bank and in hand | 54/58 | €1,126 | - | -€1,126 | |
| Deferred charges and accrued income | 490/1 | €30 | €24 | -€5 | -17.5% |
| Total equity and liabilities | 10/49 | €104,966 | €100,480 | -€4,486 | -4.3% |
| Equity | 10/15 | €39,976 | €48,593 | +€8,617 | +21.6% |
| Contributions | 10/11 | €12,900 | €12,900 | = | 0.0% |
| Reserves | 13 | €27,076 | €35,693 | +€8,617 | +31.8% |
| Non-distributable reserves | 130/1 | €15,580 | €24,197 | +€8,617 | +55.3% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €13,720 | €22,337 | +€8,617 | +62.8% |
| Tax-exempt reserves | 132 | €11,496 | €11,496 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,900 | €1,900 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,900 | €1,900 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,900 | €1,900 | = | 0.0% |
| Amounts payable | 17/49 | €63,090 | €49,988 | -€13,103 | -20.8% |
| Amounts payable after more than one year | 17 | €586 | - | -€586 | |
| Financial debts | 170/4 | €586 | - | -€586 | |
| Amounts payable within one year | 42/48 | €62,505 | €49,988 | -€12,517 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €11,643 | €1,443 | -€10,200 | -87.6% |
| Financial debts | 43 | €2,581 | €5,301 | +€2,721 | +105% |
| Credit institutions | 430/8 | €2,581 | €5,301 | +€2,721 | +105% |
| Trade debts | 44 | €10,583 | €16,377 | +€5,794 | +54.7% |
| Suppliers | 440/4 | €2,706 | €9,202 | +€6,496 | +240% |
| Bills of exchange payable | 441 | €7,877 | €7,175 | -€702 | -8.9% |
| Taxes, remuneration and social security | 45 | €434 | - | -€434 | |
| Taxes | 450/3 | €434 | - | -€434 | |
| Other amounts payable | 47/48 | €37,264 | €26,866 | -€10,398 | -27.9% |
| Turnover | 70 | €112,917 | €72,245 | -€40,672 | -36.0% |
| Non-recurring operating income | 76A | - | €300 | +€300 | |
| Goods, raw materials, services and sundry goods | 60/61 | €108,395 | €67,362 | -€41,033 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,333 | €8,530 | -€803 | -8.6% |
| Other operating charges | 640/8 | €2,255 | €637 | -€1,618 | -71.8% |
| Non-recurring operating charges | 66A | - | €1,810 | +€1,810 | |
| Gross operating margin | 9900 | €18,207 | €24,268 | +€6,061 | +33.3% |
| Operating profit (loss) | 9901 | €6,619 | €13,292 | +€6,673 | +101% |
| Financial charges | 65/66B | €1,986 | €1,044 | -€942 | -47.4% |
| Recurring financial charges | 65 | €1,986 | €1,044 | -€942 | -47.4% |
| Profit (loss) for the period before taxes | 9903 | €4,632 | €12,247 | +€7,615 | +164% |
| Income taxes | 67/77 | €223 | €3,630 | +€3,408 | +1,530% |
| Profit (loss) for the period | 9904 | €4,410 | €8,617 | +€4,207 | +95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,410 | €8,617 | +€4,207 | +95.4% |
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.