VENDUC: 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.
VENDUC
Largest movements
- Receivables within one year +€16,052
new in 2025: €16,052
- Deferred charges and accrued income -€14,081
down €14,081 (-90.2%), from €15,609 to €1,528
- Cash -€14,039
down €14,039 (-42.8%), from €32,830 to €18,791
mainly Contributions, distributions and other (-€35,187) and Receivables within one year (-€16,052)
- Tangible fixed assets -€3,466
down €3,466 (-20.0%), from €17,353 to €13,887
of which Leasing and similar rights: -€7,500
- Debts after one year -€7,414
down €7,414 (-83.2%), from €8,914 to €1,500
- Reserves -€6,135
down €6,135 (-17.4%), from €35,187 to €29,052
- Tax, wage and social debts -€2,188
down €2,188 (-19.9%), from €10,982 to €8,794
- Trade debts +€1,035
up €1,035 (+43.7%), from €2,365 to €3,400
- Other debts -€940
down €940 (-6.7%), from €14,038 to €13,098
- Gross operating margin +€15,377
up €15,377 (+47.1%), from €32,669 to €48,047
- Taxes +€2,904
up €2,904 (+58.1%), from €5,003 to €7,908
- Other operating charges +€578
up €578 (+97.3%), from €594 to €1,172
- Depreciation +€572
up €572 (+7.1%), from €8,096 to €8,668
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 | €83,792 | €68,258 | -€15,534 | -18.5% |
| Fixed assets | 21/28 | €17,353 | €13,887 | -€3,466 | -20.0% |
| Tangible fixed assets | 22/27 | €17,353 | €13,887 | -€3,466 | -20.0% |
| Land and buildings | 22 | €1,056 | €923 | -€132 | -12.5% |
| Plant, machinery and equipment | 23 | €908 | €5,073 | +€4,166 | +459.0% |
| Leasing and similar rights | 25 | €15,390 | €7,890 | -€7,500 | -48.7% |
| Current assets | 29/58 | €66,439 | €54,371 | -€12,068 | -18.2% |
| Amounts receivable after more than one year | 29 | €18,000 | €18,000 | = | 0.0% |
| Other amounts receivable | 291 | €18,000 | €18,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €16,052 | +€16,052 | |
| Trade receivables | 40 | - | €16,052 | +€16,052 | |
| Cash at bank and in hand | 54/58 | €32,830 | €18,791 | -€14,039 | -42.8% |
| Deferred charges and accrued income | 490/1 | €15,609 | €1,528 | -€14,081 | -90.2% |
| Total equity and liabilities | 10/49 | €83,792 | €68,258 | -€15,534 | -18.5% |
| Equity | 10/15 | €40,187 | €34,052 | -€6,135 | -15.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,187 | €29,052 | -€6,135 | -17.4% |
| Distributable reserves | 133 | €35,187 | €29,052 | -€6,135 | -17.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,605 | €34,206 | -€9,399 | -21.6% |
| Amounts payable after more than one year | 17 | €8,914 | €1,500 | -€7,414 | -83.2% |
| Financial debts | 170/4 | €8,914 | €1,500 | -€7,414 | -83.2% |
| Amounts payable within one year | 42/48 | €34,691 | €32,706 | -€1,985 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €7,305 | €7,414 | +€109 | +1.5% |
| Trade debts | 44 | €2,365 | €3,400 | +€1,035 | +43.7% |
| Suppliers | 440/4 | €2,365 | €3,400 | +€1,035 | +43.7% |
| Taxes, remuneration and social security | 45 | €10,982 | €8,794 | -€2,188 | -19.9% |
| Taxes | 450/3 | €10,982 | €8,794 | -€2,188 | -19.9% |
| Other amounts payable | 47/48 | €14,038 | €13,098 | -€940 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,096 | €8,668 | +€572 | +7.1% |
| Other operating charges | 640/8 | €594 | €1,172 | +€578 | +97.3% |
| Gross operating margin | 9900 | €32,669 | €48,047 | +€15,377 | +47.1% |
| Operating profit (loss) | 9901 | €23,979 | €38,207 | +€14,228 | +59.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,158 | €1,248 | +€90 | +7.7% |
| Recurring financial charges | 65 | €1,158 | €1,248 | +€90 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €22,821 | €36,960 | +€14,138 | +62.0% |
| Income taxes | 67/77 | €5,003 | €7,908 | +€2,904 | +58.1% |
| Profit (loss) for the period | 9904 | €17,818 | €29,052 | +€11,234 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,818 | €29,052 | +€11,234 | +63.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.