VEND-UP: 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.
VEND-UP
Largest movements
- Receivables within one year +€194,941
up €194,941 (+84.3%), from €231,331 to €426,272
of which Trade receivables: +€106,392
- Tangible fixed assets +€110,363
up €110,363 (+37.2%), from €296,574 to €406,937
of which Plant, machinery and equipment: +€109,988
- Stocks and contracts +€33,609
up €33,609 (+22.3%), from €150,591 to €184,201
- Cash +€29,729
up €29,729 (+874.2%), from €3,401 to €33,130
mainly Other debts (+€149,278) and Depreciation (+€126,936)
- Other debts +€149,278
up €149,278 (+830.5%), from €17,974 to €167,252
- Trade debts +€106,433
up €106,433 (+54.7%), from €194,622 to €301,055
- Debts after one year +€65,348
up €65,348 (+50.1%), from €130,346 to €195,694
- Short-term financial debts +€42,646
new in 2024: €42,646
- Gross operating margin +€34,582
up €34,582 (+7.3%), from €475,924 to €510,505
- Depreciation +€21,127
up €21,127 (+20.0%), from €105,809 to €126,936
- Staff costs +€17,236
up €17,236 (+5.2%), from €329,589 to €346,824
- Financial income -€15,011
down €15,011 (-62.9%), from €23,859 to €8,848
- Taxes -€11,210
down €11,210 (-70.4%), from €15,917 to €4,707
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €686,486 | €1,054,814 | +€368,327 | +53.7% |
| Fixed assets | 21/28 | €296,679 | €407,042 | +€110,363 | +37.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €296,574 | €406,937 | +€110,363 | +37.2% |
| Plant, machinery and equipment | 23 | €134,012 | €244,000 | +€109,988 | +82.1% |
| Furniture and vehicles | 24 | €162,562 | €162,936 | +€374 | +0.2% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €389,807 | €647,772 | +€257,965 | +66.2% |
| Stocks and contracts in progress | 3 | €150,591 | €184,201 | +€33,609 | +22.3% |
| Stocks | 30/36 | €150,591 | €184,201 | +€33,609 | +22.3% |
| Amounts receivable within one year | 40/41 | €231,331 | €426,272 | +€194,941 | +84.3% |
| Trade receivables | 40 | €213,880 | €320,272 | +€106,392 | +49.7% |
| Other amounts receivable | 41 | €17,451 | €106,000 | +€88,549 | +507.4% |
| Cash at bank and in hand | 54/58 | €3,401 | €33,130 | +€29,729 | +874.2% |
| Deferred charges and accrued income | 490/1 | €4,484 | €4,169 | -€315 | -7.0% |
| Total equity and liabilities | 10/49 | €686,486 | €1,054,814 | +€368,327 | +53.7% |
| Equity | 10/15 | €170,355 | €177,821 | +€7,465 | +4.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €145,355 | €152,821 | +€7,465 | +5.1% |
| Distributable reserves | 133 | €145,355 | €152,821 | +€7,465 | +5.1% |
| Amounts payable | 17/49 | €516,131 | €876,993 | +€360,862 | +69.9% |
| Amounts payable after more than one year | 17 | €130,346 | €195,694 | +€65,348 | +50.1% |
| Financial debts | 170/4 | €130,346 | €195,694 | +€65,348 | +50.1% |
| Amounts payable within one year | 42/48 | €385,785 | €681,299 | +€295,514 | +76.6% |
| Current portion of amounts payable after more than one year | 42 | €100,941 | €103,993 | +€3,051 | +3.0% |
| Financial debts | 43 | - | €42,646 | +€42,646 | |
| Credit institutions | 430/8 | - | €42,646 | +€42,646 | |
| Trade debts | 44 | €194,622 | €301,055 | +€106,433 | +54.7% |
| Suppliers | 440/4 | €194,622 | €301,055 | +€106,433 | +54.7% |
| Taxes, remuneration and social security | 45 | €72,248 | €66,354 | -€5,894 | -8.2% |
| Taxes | 450/3 | €24,077 | €22,699 | -€1,378 | -5.7% |
| Remuneration and social security | 454/9 | €48,171 | €43,655 | -€4,516 | -9.4% |
| Other amounts payable | 47/48 | €17,974 | €167,252 | +€149,278 | +830.5% |
| Non-recurring operating income | 76A | €15,656 | €6,623 | -€9,034 | -57.7% |
| Remuneration, social security and pensions | 62 | €329,589 | €346,824 | +€17,236 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,809 | €126,936 | +€21,127 | +20.0% |
| Other operating charges | 640/8 | €4,966 | €4,746 | -€220 | -4.4% |
| Non-recurring operating charges | 66A | €2,170 | €11,077 | +€8,907 | +410.5% |
| Gross operating margin | 9900 | €475,924 | €510,505 | +€34,582 | +7.3% |
| Operating profit (loss) | 9901 | €33,389 | €20,922 | -€12,468 | -37.3% |
| Financial income | 75/76B | €23,859 | €8,848 | -€15,011 | -62.9% |
| Recurring financial income | 75 | €23,859 | €8,848 | -€15,011 | -62.9% |
| Financial charges | 65/66B | €17,761 | €17,597 | -€164 | -0.9% |
| Recurring financial charges | 65 | €16,647 | €17,597 | +€950 | +5.7% |
| Non-recurring financial charges | 66B | €1,114 | - | -€1,114 | |
| Profit (loss) for the period before taxes | 9903 | €39,487 | €12,173 | -€27,315 | -69.2% |
| Income taxes | 67/77 | €15,917 | €4,707 | -€11,210 | -70.4% |
| Profit (loss) for the period | 9904 | €23,570 | €7,465 | -€16,105 | -68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,570 | €7,465 | -€16,105 | -68.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.