VENDERO: 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.
VENDERO
Largest movements
- Receivables within one year -€50,083
down €50,083 (-60.6%), from €82,583 to €32,500
of which Other amounts receivable: -€50,083
- Cash -€21,347
down €21,347 (-20.9%), from €102,125 to €80,777
mainly Debts after one year (-€291,094) and Current portion of long-term debt (-€40,264)
- Debts after one year -€291,094
down €291,094 (-25.1%), from €1.2m to €870,743
- Profit (loss) carried forward +€162,950
up €162,950 (+70.7%), from €230,535 to €393,485
- Other debts +€117,401
new in 2025: €117,401
- Current portion of long-term debt -€40,264
down €40,264 (-14.3%), from €281,357 to €241,094
- Tax, wage and social debts -€24,977
down €24,977 (-27.1%), from €92,199 to €67,222
- Gross operating margin -€163,847
down €163,847 (-37.6%), from €436,058 to €272,211
- Financial charges -€44,259
down €44,259 (-49.9%), from €88,689 to €44,430
- Other operating charges -€27,216
down €27,216 (-93.9%), from €28,980 to €1,764
- Taxes -€22,528
down €22,528 (-29.3%), from €76,845 to €54,317
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 | €1,910,039 | €1,830,098 | -€79,941 | -4.2% |
| Fixed assets | 21/28 | €1,723,907 | €1,715,157 | -€8,750 | -0.5% |
| Tangible fixed assets | 22/27 | €223,907 | €215,157 | -€8,750 | -3.9% |
| Land and buildings | 22 | €206,443 | €199,693 | -€6,750 | -3.3% |
| Furniture and vehicles | 24 | €17,464 | €15,464 | -€2,000 | -11.5% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €186,132 | €114,941 | -€71,191 | -38.2% |
| Amounts receivable within one year | 40/41 | €82,583 | €32,500 | -€50,083 | -60.6% |
| Trade receivables | 40 | €32,500 | €32,500 | = | 0.0% |
| Other amounts receivable | 41 | €50,083 | - | -€50,083 | |
| Cash at bank and in hand | 54/58 | €102,125 | €80,777 | -€21,347 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,424 | €1,663 | +€239 | +16.8% |
| Total equity and liabilities | 10/49 | €1,910,039 | €1,830,098 | -€79,941 | -4.2% |
| Equity | 10/15 | €235,535 | €398,485 | +€162,950 | +69.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,535 | €393,485 | +€162,950 | +70.7% |
| Amounts payable | 17/49 | €1,674,505 | €1,431,613 | -€242,891 | -14.5% |
| Amounts payable after more than one year | 17 | €1,161,836 | €870,743 | -€291,094 | -25.1% |
| Financial debts | 170/4 | €1,161,836 | €870,743 | -€291,094 | -25.1% |
| Amounts payable within one year | 42/48 | €512,668 | €560,871 | +€48,202 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €281,357 | €241,094 | -€40,264 | -14.3% |
| Trade debts | 44 | €139,112 | €135,154 | -€3,958 | -2.8% |
| Suppliers | 440/4 | €139,112 | €135,154 | -€3,958 | -2.8% |
| Taxes, remuneration and social security | 45 | €92,199 | €67,222 | -€24,977 | -27.1% |
| Taxes | 450/3 | €92,199 | €67,222 | -€24,977 | -27.1% |
| Other amounts payable | 47/48 | - | €117,401 | +€117,401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,093 | €8,750 | -€2,343 | -21.1% |
| Other operating charges | 640/8 | €28,980 | €1,764 | -€27,216 | -93.9% |
| Gross operating margin | 9900 | €436,058 | €272,211 | -€163,847 | -37.6% |
| Operating profit (loss) | 9901 | €395,985 | €261,697 | -€134,288 | -33.9% |
| Financial income | 75/76B | €83 | - | -€83 | |
| Recurring financial income | 75 | €83 | - | -€83 | |
| Financial charges | 65/66B | €88,689 | €44,430 | -€44,259 | -49.9% |
| Recurring financial charges | 65 | €88,689 | €44,430 | -€44,259 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €307,379 | €217,267 | -€90,113 | -29.3% |
| Income taxes | 67/77 | €76,845 | €54,317 | -€22,528 | -29.3% |
| Profit (loss) for the period | 9904 | €230,535 | €162,950 | -€67,584 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €230,535 | €162,950 | -€67,584 | -29.3% |
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 31 October 2026 via checked.be.