VENDURO: what changed
What changed
VENDURO
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
filed annual accounts (NBB)
Net result for the year
€82,685
2024 · €105,658-€22,973
Equity
€1.7m
2024 · €1.6m+€82,685
Cash
€981,016
2024 · €671,685+€309,331
Balance sheet total
€3.2m
2024 · €2.8m+€430,383
Largest movements
Assets
- Cash +€309,331
up €309,331 (+46.1%), from €671,685 to €981,016
mainly Trade debts (+€246,079) and Depreciation (+€173,325)
- Current investments +€116,679
up €116,679 (+37.3%), from €312,885 to €429,564
- Receivables within one year +€68,031
up €68,031 (+17.0%), from €399,712 to €467,744
of which Trade receivables: +€63,457
- Deferred charges and accrued income -€66,532
down €66,532 (-84.5%), from €78,756 to €12,223
- Tangible fixed assets -€41,023
down €41,023 (-3.9%), from €1.1m to €1.0m
of which Land and buildings: -€72,632
Equity and liabilities
- Trade debts +€246,079
up €246,079 (+43.0%), from €572,100 to €818,179
- Other debts -€114,011
down €114,011 (-42.4%), from €269,020 to €155,009
- Debts after one year +€109,092
up €109,092 (+188%), from €57,886 to €166,978
- Reserves +€82,685
up €82,685 (+19.8%), from €417,764 to €500,449
of which Distributable reserves: +€82,685
- Tax, wage and social debts +€80,152
up €80,152 (+42.9%), from €186,779 to €266,932
of which Remuneration and social security: +€67,392
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€105,658
Gross operating margin
+€12,012
Staff costs
-€8,293
Depreciation
-€12,091
Write-downs
+€1,398
Other operating charges
-€2,105
Financial income
+€520
Financial charges
-€6,840
Taxes
-€7,573
Result 2025
€82,685
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€441,656
Investment
-€267,803
Financing
+€135,478
Cash 2024
€671,685
From operations (derived)
+€441,656
Net result for the year
+€82,685
Depreciation
+€173,325
Stocks and contracts
-€25,075
Receivables within one year
-€68,031
Deferred charges and accrued income
+€66,532
Trade debts
+€246,079
Tax, wage and social debts
+€80,152
Other debts
-€114,011
Investment (derived)
-€267,803
Investment in fixed assets (net)
-€151,124
Current investments
-€116,679
Financing
+€135,478
Debts after one year
+€109,092
Current portion of long-term debt
+€26,386
Cash 2025
€981,016
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,786,286 | €3,216,670 | +€430,383 | +15.4% |
| Formation expenses | 20 | - | €30,823 | +€30,823 | |
| Fixed assets | 21/28 | €1,082,599 | €1,029,575 | -€53,024 | -4.9% |
| Intangible fixed assets | 21 | €29,550 | €17,550 | -€12,001 | -40.6% |
| Tangible fixed assets | 22/27 | €1,053,048 | €1,012,025 | -€41,023 | -3.9% |
| Land and buildings | 22 | €678,716 | €606,084 | -€72,632 | -10.7% |
| Plant, machinery and equipment | 23 | €256,914 | €330,656 | +€73,742 | +28.7% |
| Furniture and vehicles | 24 | €117,419 | €75,286 | -€42,134 | -35.9% |
| Current assets | 29/58 | €1,703,687 | €2,156,271 | +€452,584 | +26.6% |
| Stocks and contracts in progress | 3 | €240,650 | €265,725 | +€25,075 | +10.4% |
| Stocks | 30/36 | €240,650 | €265,725 | +€25,075 | +10.4% |
| Amounts receivable within one year | 40/41 | €399,712 | €467,744 | +€68,031 | +17.0% |
| Trade receivables | 40 | €379,060 | €442,516 | +€63,457 | +16.7% |
| Other amounts receivable | 41 | €20,653 | €25,227 | +€4,575 | +22.2% |
| Current investments | 50/53 | €312,885 | €429,564 | +€116,679 | +37.3% |
| Cash at bank and in hand | 54/58 | €671,685 | €981,016 | +€309,331 | +46.1% |
| Deferred charges and accrued income | 490/1 | €78,756 | €12,223 | -€66,532 | -84.5% |
| Total equity and liabilities | 10/49 | €2,786,286 | €3,216,670 | +€430,383 | +15.4% |
| Equity | 10/15 | €1,575,393 | €1,658,078 | +€82,685 | +5.2% |
| Contributions | 10/11 | €198,998 | €198,998 | = | 0.0% |
| Reserves | 13 | €417,764 | €500,449 | +€82,685 | +19.8% |
| Non-distributable reserves | 130/1 | €44,879 | €44,879 | = | 0.0% |
| Reserves not available under the articles | 1311 | €44,879 | €44,879 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €316,635 | €399,320 | +€82,685 | +26.1% |
| Profit (loss) carried forward | 14 | €958,631 | €958,631 | = | 0.0% |
| Amounts payable | 17/49 | €1,210,893 | €1,558,591 | +€347,698 | +28.7% |
| Amounts payable after more than one year | 17 | €57,886 | €166,978 | +€109,092 | +188% |
| Financial debts | 170/4 | €57,886 | €166,978 | +€109,092 | +188% |
| Amounts payable within one year | 42/48 | €1,153,007 | €1,391,613 | +€238,606 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €125,108 | €151,494 | +€26,386 | +21.1% |
| Trade debts | 44 | €572,100 | €818,179 | +€246,079 | +43.0% |
| Suppliers | 440/4 | €572,100 | €818,179 | +€246,079 | +43.0% |
| Taxes, remuneration and social security | 45 | €186,779 | €266,932 | +€80,152 | +42.9% |
| Taxes | 450/3 | €42,523 | €55,283 | +€12,760 | +30.0% |
| Remuneration and social security | 454/9 | €144,256 | €211,648 | +€67,392 | +46.7% |
| Other amounts payable | 47/48 | €269,020 | €155,009 | -€114,011 | -42.4% |
| Non-recurring operating income | 76A | €3,600 | - | -€3,600 | |
| Remuneration, social security and pensions | 62 | €1,549,711 | €1,558,005 | +€8,293 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,234 | €173,325 | +€12,091 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,361 | €12,963 | -€1,398 | -9.7% |
| Other operating charges | 640/8 | €30,207 | €32,313 | +€2,105 | +7.0% |
| Gross operating margin | 9900 | €1,940,819 | €1,952,831 | +€12,012 | +0.6% |
| Operating profit (loss) | 9901 | €185,305 | €176,226 | -€9,080 | -4.9% |
| Financial income | 75/76B | €1,223 | €1,743 | +€520 | +42.5% |
| Recurring financial income | 75 | €1,223 | €1,743 | +€520 | +42.5% |
| Financial charges | 65/66B | €54,873 | €61,714 | +€6,840 | +12.5% |
| Recurring financial charges | 65 | €54,873 | €61,714 | +€6,840 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €131,655 | €116,255 | -€15,400 | -11.7% |
| Income taxes | 67/77 | €25,997 | €33,570 | +€7,573 | +29.1% |
| Profit (loss) for the period | 9904 | €105,658 | €82,685 | -€22,973 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,658 | €82,685 | -€22,973 | -21.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.