VENALIS: what changed
Two fiscal 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.
VENALIS
Largest movements
- Receivables within one year -€479,007
down €479,007 (-37.5%), from €1.3m to €796,891
of which Trade receivables: -€440,790
- Stocks and contracts -€191,100
down €191,100 (-28.2%), from €676,900 to €485,800
- Cash +€169,838
up €169,838 (+416.8%), from €40,744 to €210,582
mainly Receivables within one year (+€479,007) and Other debts (+€256,254)
- Trade debts -€666,634
down €666,634 (-54.3%), from €1.2m to €561,483
- Other debts +€256,254
up €256,254 (+11088.4%), from €2,311 to €258,565
- Debts after one year -€121,441
down €121,441 (-24.0%), from €505,228 to €383,787
- Gross operating margin -€21,637
down €21,637 (-5.8%), from €374,068 to €352,431
- Other operating charges -€12,317
down €12,317 (-26.0%), from €47,343 to €35,026
- Financial charges -€8,869
down €8,869 (-14.8%), from €60,087 to €51,218
- Staff costs -€8,050
down €8,050 (-3.9%), from €208,308 to €200,258
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 | €2,812,450 | €2,303,940 | -€508,510 | -18.1% |
| Fixed assets | 21/28 | €818,908 | €810,667 | -€8,241 | -1.0% |
| Tangible fixed assets | 22/27 | €815,158 | €806,917 | -€8,241 | -1.0% |
| Land and buildings | 22 | €784,580 | €759,010 | -€25,570 | -3.3% |
| Plant, machinery and equipment | 23 | - | €5,984 | +€5,984 | |
| Furniture and vehicles | 24 | €30,578 | €41,923 | +€11,345 | +37.1% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €1,993,542 | €1,493,273 | -€500,269 | -25.1% |
| Stocks and contracts in progress | 3 | €676,900 | €485,800 | -€191,100 | -28.2% |
| Stocks | 30/36 | €676,900 | €485,800 | -€191,100 | -28.2% |
| Amounts receivable within one year | 40/41 | €1,275,898 | €796,891 | -€479,007 | -37.5% |
| Trade receivables | 40 | €1,232,318 | €791,528 | -€440,790 | -35.8% |
| Other amounts receivable | 41 | €43,580 | €5,363 | -€38,217 | -87.7% |
| Cash at bank and in hand | 54/58 | €40,744 | €210,582 | +€169,838 | +416.8% |
| Total equity and liabilities | 10/49 | €2,812,450 | €2,303,940 | -€508,510 | -18.1% |
| Equity | 10/15 | €315,592 | €332,943 | +€17,351 | +5.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €165,592 | €182,943 | +€17,351 | +10.5% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €150,592 | €167,943 | +€17,351 | +11.5% |
| Amounts payable | 17/49 | €2,496,858 | €1,970,997 | -€525,861 | -21.1% |
| Amounts payable after more than one year | 17 | €505,228 | €383,787 | -€121,441 | -24.0% |
| Financial debts | 170/4 | €505,228 | €383,787 | -€121,441 | -24.0% |
| Amounts payable within one year | 42/48 | €1,988,658 | €1,584,451 | -€404,207 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €144,263 | €145,441 | +€1,178 | +0.8% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €1,228,117 | €561,483 | -€666,634 | -54.3% |
| Suppliers | 440/4 | €1,228,117 | €561,483 | -€666,634 | -54.3% |
| Taxes, remuneration and social security | 45 | €113,967 | €118,962 | +€4,995 | +4.4% |
| Taxes | 450/3 | €83,490 | €77,059 | -€6,431 | -7.7% |
| Remuneration and social security | 454/9 | €30,477 | €41,903 | +€11,426 | +37.5% |
| Other amounts payable | 47/48 | €2,311 | €258,565 | +€256,254 | +11088.4% |
| Accrued charges and deferred income | 492/3 | €2,972 | €2,759 | -€213 | -7.2% |
| Remuneration, social security and pensions | 62 | €208,308 | €200,258 | -€8,050 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,721 | €41,411 | -€310 | -0.7% |
| Other operating charges | 640/8 | €47,343 | €35,026 | -€12,317 | -26.0% |
| Gross operating margin | 9900 | €374,068 | €352,431 | -€21,637 | -5.8% |
| Operating profit (loss) | 9901 | €76,696 | €75,736 | -€960 | -1.3% |
| Financial income | 75/76B | €3,391 | €4,441 | +€1,050 | +31.0% |
| Recurring financial income | 75 | €3,391 | €4,441 | +€1,050 | +31.0% |
| Financial charges | 65/66B | €60,087 | €51,218 | -€8,869 | -14.8% |
| Recurring financial charges | 65 | €60,087 | €51,218 | -€8,869 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €20,000 | €28,959 | +€8,959 | +44.8% |
| Income taxes | 67/77 | €9,459 | €11,608 | +€2,149 | +22.7% |
| Profit (loss) for the period | 9904 | €10,541 | €17,351 | +€6,810 | +64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,541 | €17,351 | +€6,810 | +64.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.