Vendange: 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.
Vendange
Largest movements
- Receivables after one year +€1.4m
up €1.4m (+257.2%), from €550,000 to €2.0m
- Debts after one year +€814,660
new in 2025: €814,660
- Reserves +€503,357
up €503,357 (+117.2%), from €429,545 to €932,903
- Financial income +€95,047
up €95,047 (+20.4%), from €465,363 to €560,410
- Taxes +€9,373
up €9,373 (+22.2%), from €42,224 to €51,598
- Financial charges +€3,687
no longer reported in 2025 (was -€3,687)
- Gross operating margin -€861
down €861 (-23.8%), from -€3,621 to -€4,482
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 | €16,800,021 | €18,121,745 | +€1.3m | +7.9% |
| Fixed assets | 21/28 | €15,884,308 | €15,883,735 | -€573 | 0.0% |
| Tangible fixed assets | 22/27 | €1,090 | €518 | -€573 | -52.5% |
| Furniture and vehicles | 24 | €1,090 | €518 | -€573 | -52.5% |
| Financial fixed assets | 28 | €15,883,218 | €15,883,218 | = | 0.0% |
| Current assets | 29/58 | €915,713 | €2,238,010 | +€1.3m | +144.4% |
| Amounts receivable after more than one year | 29 | €550,000 | €1,964,660 | +€1.4m | +257.2% |
| Other amounts receivable | 291 | €550,000 | €1,964,660 | +€1.4m | +257.2% |
| Amounts receivable within one year | 40/41 | - | €36,370 | +€36,370 | |
| Other amounts receivable | 41 | - | €36,370 | +€36,370 | |
| Current investments | 50/53 | €54,786 | €48,655 | -€6,131 | -11.2% |
| Cash at bank and in hand | 54/58 | €310,927 | €188,325 | -€122,602 | -39.4% |
| Total equity and liabilities | 10/49 | €16,800,021 | €18,121,745 | +€1.3m | +7.9% |
| Equity | 10/15 | €16,754,714 | €17,258,071 | +€503,357 | +3.0% |
| Contributions | 10/11 | €12,093 | €12,093 | = | 0.0% |
| Capital | 10 | €7,500 | €7,500 | = | 0.0% |
| Issued capital | 100 | €7,500 | €7,500 | = | 0.0% |
| Outside capital | 11 | €4,593 | €4,593 | = | 0.0% |
| Share premium | 1100/10 | €4,593 | €4,593 | = | 0.0% |
| Reserves | 13 | €429,545 | €932,903 | +€503,357 | +117.2% |
| Distributable reserves | 133 | €429,545 | €932,903 | +€503,357 | +117.2% |
| Profit (loss) carried forward | 14 | €16,313,075 | €16,313,075 | = | 0.0% |
| Amounts payable | 17/49 | €45,307 | €863,674 | +€818,367 | +1806.3% |
| Amounts payable after more than one year | 17 | - | €814,660 | +€814,660 | |
| Other amounts payable | 178/9 | - | €814,660 | +€814,660 | |
| Amounts payable within one year | 42/48 | €45,307 | €49,014 | +€3,706 | +8.2% |
| Trade debts | 44 | €3,557 | - | -€3,557 | |
| Suppliers | 440/4 | €3,557 | - | -€3,557 | |
| Taxes, remuneration and social security | 45 | €40,963 | €49,014 | +€8,051 | +19.7% |
| Taxes | 450/3 | €40,963 | €49,014 | +€8,051 | +19.7% |
| Other amounts payable | 47/48 | €787 | - | -€787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €573 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,621 | -€4,482 | -€861 | -23.8% |
| Operating profit (loss) | 9901 | -€4,581 | -€5,455 | -€873 | -19.1% |
| Financial income | 75/76B | €465,363 | €560,410 | +€95,047 | +20.4% |
| Recurring financial income | 75 | €465,363 | €560,410 | +€95,047 | +20.4% |
| Financial charges | 65/66B | -€3,687 | - | +€3,687 | |
| Recurring financial charges | 65 | -€3,687 | - | +€3,687 | |
| Profit (loss) for the period before taxes | 9903 | €464,469 | €554,955 | +€90,486 | +19.5% |
| Income taxes | 67/77 | €42,224 | €51,598 | +€9,373 | +22.2% |
| Profit (loss) for the period | 9904 | €422,244 | €503,357 | +€81,113 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €422,244 | €503,357 | +€81,113 | +19.2% |
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 8 October 2026 via checked.be.