VENDUS: 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.
VENDUS
Largest movements
- Cash +€175,773
up €175,773 (+91.1%), from €192,930 to €368,703
mainly Net result for the year (+€220,933) and Tax, wage and social debts (+€16,028)
- Receivables within one year +€26,827
up €26,827 (+64.6%), from €41,512 to €68,339
of which Other amounts receivable: +€21,693
- Tangible fixed assets +€17,668
up €17,668 (+137%), from €12,850 to €30,518
of which Furniture and vehicles: +€19,504
- Profit (loss) carried forward +€220,933
up €220,933, from -€177,973 to €42,960
- Trade debts -€17,741
down €17,741 (-68.8%), from €25,801 to €8,060
- Tax, wage and social debts +€16,028
new in 2025: €16,028
- Gross operating margin +€245,314
up €245,314 (+2,924%), from €8,391 to €253,705
- Depreciation +€4,876
up €4,876 (+266%), from €1,836 to €6,712
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 | €263,708 | €483,962 | +€220,254 | +83.5% |
| Fixed assets | 21/28 | €12,850 | €30,518 | +€17,668 | +137% |
| Tangible fixed assets | 22/27 | €12,850 | €30,518 | +€17,668 | +137% |
| Plant, machinery and equipment | 23 | €12,850 | €11,014 | -€1,836 | -14.3% |
| Furniture and vehicles | 24 | - | €19,504 | +€19,504 | |
| Current assets | 29/58 | €250,858 | €453,444 | +€202,586 | +80.8% |
| Stocks and contracts in progress | 3 | €1,526 | €1,526 | = | 0.0% |
| Stocks | 30/36 | €1,526 | €1,526 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,512 | €68,339 | +€26,827 | +64.6% |
| Trade receivables | 40 | - | €5,134 | +€5,134 | |
| Other amounts receivable | 41 | €41,512 | €63,205 | +€21,693 | +52.3% |
| Current investments | 50/53 | €14,890 | €14,876 | -€14 | -0.1% |
| Cash at bank and in hand | 54/58 | €192,930 | €368,703 | +€175,773 | +91.1% |
| Total equity and liabilities | 10/49 | €263,708 | €483,962 | +€220,254 | +83.5% |
| Equity | 10/15 | €196,514 | €417,447 | +€220,933 | +112% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €355,887 | €355,887 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,887 | €5,887 | = | 0.0% |
| Other | 1319 | €5,887 | €5,887 | = | 0.0% |
| Distributable reserves | 133 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,973 | €42,960 | +€220,933 | |
| Amounts payable | 17/49 | €67,194 | €66,515 | -€679 | -1.0% |
| Amounts payable within one year | 42/48 | €67,194 | €66,515 | -€679 | -1.0% |
| Trade debts | 44 | €25,801 | €8,060 | -€17,741 | -68.8% |
| Suppliers | 440/4 | €25,801 | €8,060 | -€17,741 | -68.8% |
| Taxes, remuneration and social security | 45 | - | €16,028 | +€16,028 | |
| Taxes | 450/3 | - | €16,028 | +€16,028 | |
| Other amounts payable | 47/48 | €41,393 | €42,427 | +€1,034 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,836 | €6,712 | +€4,876 | +266% |
| Gross operating margin | 9900 | €8,391 | €253,705 | +€245,314 | +2,924% |
| Operating profit (loss) | 9901 | €6,555 | €246,993 | +€240,438 | +3,668% |
| Financial charges | 65/66B | €27,813 | €26,060 | -€1,753 | -6.3% |
| Recurring financial charges | 65 | €27,813 | €26,060 | -€1,753 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,258 | €220,933 | +€242,191 | |
| Profit (loss) for the period | 9904 | -€21,258 | €220,933 | +€242,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,258 | €220,933 | +€242,191 |
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 13 October 2026 via checked.be.