VENDAX: 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.
VENDAX
Largest movements
- Tangible fixed assets -€4,463
down €4,463 (-84.7%), from €5,267 to €805
- Cash -€2,287
down €2,287 (-17.8%), from €12,866 to €10,578
mainly Tax, wage and social debts (-€2,453) and Net result for the year (-€1,953)
- Tax, wage and social debts -€2,453
down €2,453 (-56.5%), from €4,345 to €1,892
- Other debts -€1,425
down €1,425 (-9.0%), from €15,843 to €14,418
- Profit (loss) carried forward -€1,211
down €1,211, from €0 to -€1,211
- Reserves -€742
down €742 (-100.0%), from €742 to €0
- Trade debts -€698
down €698 (-46.0%), from €1,518 to €821
- Gross operating margin -€3,579
down €3,579 (-41.8%), from €8,563 to €4,984
- Taxes -€875
down €875 (-56.1%), from €1,560 to €685
- Depreciation +€805
up €805 (+22.0%), from €3,658 to €4,463
- Other operating charges -€199
down €199 (-14.5%), from €1,376 to €1,177
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 | €26,449 | €19,919 | -€6,529 | -24.7% |
| Fixed assets | 21/28 | €5,267 | €805 | -€4,463 | -84.7% |
| Tangible fixed assets | 22/27 | €5,267 | €805 | -€4,463 | -84.7% |
| Furniture and vehicles | 24 | €5,267 | €805 | -€4,463 | -84.7% |
| Current assets | 29/58 | €21,181 | €19,115 | -€2,067 | -9.8% |
| Amounts receivable within one year | 40/41 | €6,820 | €6,978 | +€158 | +2.3% |
| Trade receivables | 40 | €6,380 | €5,223 | -€1,157 | -18.1% |
| Other amounts receivable | 41 | €440 | €1,755 | +€1,315 | +298.9% |
| Cash at bank and in hand | 54/58 | €12,866 | €10,578 | -€2,287 | -17.8% |
| Deferred charges and accrued income | 490/1 | €1,496 | €1,558 | +€62 | +4.2% |
| Total equity and liabilities | 10/49 | €26,449 | €19,919 | -€6,529 | -24.7% |
| Equity | 10/15 | €4,742 | €2,789 | -€1,953 | -41.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €742 | €0 | -€742 | -100.0% |
| Distributable reserves | 133 | €742 | €0 | -€742 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€1,211 | -€1,211 | |
| Amounts payable | 17/49 | €21,706 | €17,130 | -€4,576 | -21.1% |
| Amounts payable within one year | 42/48 | €21,706 | €17,130 | -€4,576 | -21.1% |
| Trade debts | 44 | €1,518 | €821 | -€698 | -46.0% |
| Suppliers | 440/4 | €1,518 | €821 | -€698 | -46.0% |
| Taxes, remuneration and social security | 45 | €4,345 | €1,892 | -€2,453 | -56.5% |
| Taxes | 450/3 | €4,345 | €1,892 | -€2,453 | -56.5% |
| Other amounts payable | 47/48 | €15,843 | €14,418 | -€1,425 | -9.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €413 | €0 | -€413 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,658 | €4,463 | +€805 | +22.0% |
| Other operating charges | 640/8 | €1,376 | €1,177 | -€199 | -14.5% |
| Gross operating margin | 9900 | €8,563 | €4,984 | -€3,579 | -41.8% |
| Operating profit (loss) | 9901 | €3,529 | -€656 | -€4,185 | |
| Financial income | 75/76B | €39 | €51 | +€12 | +29.7% |
| Recurring financial income | 75 | €39 | €51 | +€12 | +29.7% |
| Financial charges | 65/66B | €631 | €663 | +€32 | +5.1% |
| Recurring financial charges | 65 | €631 | €663 | +€32 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €2,937 | -€1,268 | -€4,205 | |
| Income taxes | 67/77 | €1,560 | €685 | -€875 | -56.1% |
| Profit (loss) for the period | 9904 | €1,377 | -€1,953 | -€3,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,377 | -€1,953 | -€3,330 |
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 6 October 2026 via checked.be.