VENCERA: 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.
VENCERA
Largest movements
- Receivables within one year +€18,286
up €18,286 (+71.5%), from €25,566 to €43,852
of which Other amounts receivable: +€17,673
- Financial fixed assets +€10,000
new in 2025: €10,000
- Cash -€7,469
down €7,469 (-90.3%), from €8,275 to €806
mainly Receivables within one year (-€18,286) and Investment in fixed assets (net) (-€10,000)
- Intangible fixed assets -€750
down €750 (-11.1%), from €6,750 to €6,000
- Profit (loss) carried forward +€12,031
up €12,031 (+89.5%), from €13,450 to €25,481
- Advances received +€5,500
new in 2025: €5,500
- Trade debts +€5,155
up €5,155 (+51.3%), from €10,057 to €15,213
- Tax, wage and social debts -€3,621
down €3,621 (-20.6%), from €17,612 to €13,992
of which Taxes: -€3,621
- Gross operating margin +€7,810
up €7,810 (+71.9%), from €10,859 to €18,669
- Taxes +€925
up €925 (+27.2%), from €3,397 to €4,322
- Financial income +€815
up €815 (+165%), from €494 to €1,309
- Financial charges +€479
up €479 (+53.5%), from €895 to €1,373
- Depreciation +€280
up €280 (+26.1%), from €1,073 to €1,353
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 | €42,751 | €61,970 | +€19,219 | +45.0% |
| Fixed assets | 21/28 | €8,664 | €17,312 | +€8,647 | +99.8% |
| Intangible fixed assets | 21 | €6,750 | €6,000 | -€750 | -11.1% |
| Tangible fixed assets | 22/27 | €1,915 | €1,312 | -€603 | -31.5% |
| Furniture and vehicles | 24 | €1,915 | €1,312 | -€603 | -31.5% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €34,087 | €44,658 | +€10,571 | +31.0% |
| Amounts receivable within one year | 40/41 | €25,566 | €43,852 | +€18,286 | +71.5% |
| Trade receivables | 40 | €9,508 | €10,121 | +€613 | +6.4% |
| Other amounts receivable | 41 | €16,058 | €33,731 | +€17,673 | +110% |
| Cash at bank and in hand | 54/58 | €8,275 | €806 | -€7,469 | -90.3% |
| Deferred charges and accrued income | 490/1 | €246 | €0 | -€246 | -100% |
| Total equity and liabilities | 10/49 | €42,751 | €61,970 | +€19,219 | +45.0% |
| Equity | 10/15 | €14,950 | €26,981 | +€12,031 | +80.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,450 | €25,481 | +€12,031 | +89.5% |
| Amounts payable | 17/49 | €27,801 | €34,989 | +€7,188 | +25.9% |
| Amounts payable within one year | 42/48 | €27,801 | €34,989 | +€7,188 | +25.9% |
| Financial debts | 43 | €132 | €75 | -€57 | -43.2% |
| Credit institutions | 430/8 | €132 | €75 | -€57 | -43.2% |
| Trade debts | 44 | €10,057 | €15,213 | +€5,155 | +51.3% |
| Suppliers | 440/4 | €10,057 | €15,213 | +€5,155 | +51.3% |
| Advances received on contracts in progress | 46 | - | €5,500 | +€5,500 | |
| Taxes, remuneration and social security | 45 | €17,612 | €13,992 | -€3,621 | -20.6% |
| Taxes | 450/3 | €17,612 | €13,992 | -€3,621 | -20.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €210 | +€210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,073 | €1,353 | +€280 | +26.1% |
| Other operating charges | 640/8 | €707 | €898 | +€191 | +27.0% |
| Gross operating margin | 9900 | €10,859 | €18,669 | +€7,810 | +71.9% |
| Operating profit (loss) | 9901 | €9,078 | €16,418 | +€7,340 | +80.9% |
| Financial income | 75/76B | €494 | €1,309 | +€815 | +165% |
| Recurring financial income | 75 | €494 | €1,309 | +€815 | +165% |
| Financial charges | 65/66B | €895 | €1,373 | +€479 | +53.5% |
| Recurring financial charges | 65 | €895 | €1,373 | +€479 | +53.5% |
| Profit (loss) for the period before taxes | 9903 | €8,678 | €16,354 | +€7,676 | +88.5% |
| Income taxes | 67/77 | €3,397 | €4,322 | +€925 | +27.2% |
| Profit (loss) for the period | 9904 | €5,280 | €12,031 | +€6,751 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €5,280 | €12,031 | +€6,751 | +128% |
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 19 October 2026 via checked.be.