Venepha: 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.
Venepha
Largest movements
- Cash +€20,176
up €20,176 (+19.1%), from €105,386 to €125,563
mainly Net result for the year (+€34,886) and Receivables within one year (+€19,239)
- Receivables within one year -€19,239
down €19,239 (-29.2%), from €65,779 to €46,540
of which Trade receivables: -€19,991
- Tangible fixed assets +€6,124
up €6,124 (+17.2%), from €35,613 to €41,737
of which Furniture and vehicles: +€4,748
- Reserves +€24,000
up €24,000 (+13.9%), from €172,273 to €196,273
- Debts after one year -€12,000
down €12,000 (-85.7%), from €14,000 to €2,000
- Current portion of long-term debt -€5,757
down €5,757 (-100.0%), from €5,757 to €0
- Tax, wage and social debts +€2,174
up €2,174 (+23.5%), from €9,260 to €11,434
of which Taxes: +€2,174
- Depreciation +€12,138
up €12,138 (+182.8%), from €6,639 to €18,777
- Gross operating margin +€9,840
up €9,840 (+15.9%), from €61,734 to €71,574
- Taxes -€1,918
down €1,918 (-10.3%), from €18,687 to €16,769
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 | €206,878 | €214,360 | +€7,482 | +3.6% |
| Fixed assets | 21/28 | €35,713 | €41,837 | +€6,124 | +17.1% |
| Tangible fixed assets | 22/27 | €35,613 | €41,737 | +€6,124 | +17.2% |
| Land and buildings | 22 | €22,631 | €19,910 | -€2,721 | -12.0% |
| Plant, machinery and equipment | 23 | €2,806 | €3,294 | +€488 | +17.4% |
| Furniture and vehicles | 24 | €10,176 | €14,924 | +€4,748 | +46.7% |
| Other tangible fixed assets | 26 | - | €3,610 | +€3,610 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €171,165 | €172,523 | +€1,358 | +0.8% |
| Amounts receivable within one year | 40/41 | €65,779 | €46,540 | -€19,239 | -29.2% |
| Trade receivables | 40 | €63,871 | €43,879 | -€19,991 | -31.3% |
| Other amounts receivable | 41 | €1,908 | €2,661 | +€753 | +39.5% |
| Cash at bank and in hand | 54/58 | €105,386 | €125,563 | +€20,176 | +19.1% |
| Deferred charges and accrued income | 490/1 | - | €420 | +€420 | |
| Total equity and liabilities | 10/49 | €206,878 | €214,360 | +€7,482 | +3.6% |
| Equity | 10/15 | €175,298 | €199,596 | +€24,298 | +13.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €172,273 | €196,273 | +€24,000 | +13.9% |
| Distributable reserves | 133 | €172,273 | €196,273 | +€24,000 | +13.9% |
| Profit (loss) carried forward | 14 | €26 | €323 | +€298 | +1156.2% |
| Amounts payable | 17/49 | €31,579 | €14,764 | -€16,815 | -53.2% |
| Amounts payable after more than one year | 17 | €14,000 | €2,000 | -€12,000 | -85.7% |
| Financial debts | 170/4 | €14,000 | €2,000 | -€12,000 | -85.7% |
| Amounts payable within one year | 42/48 | €17,103 | €12,764 | -€4,339 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €5,757 | €0 | -€5,757 | -100.0% |
| Trade debts | 44 | €2,010 | €622 | -€1,388 | -69.0% |
| Suppliers | 440/4 | €2,010 | €622 | -€1,388 | -69.0% |
| Taxes, remuneration and social security | 45 | €9,260 | €11,434 | +€2,174 | +23.5% |
| Taxes | 450/3 | €9,260 | €11,434 | +€2,174 | +23.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €75 | €707 | +€632 | +837.0% |
| Accrued charges and deferred income | 492/3 | €477 | €0 | -€477 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,639 | €18,777 | +€12,138 | +182.8% |
| Other operating charges | 640/8 | €806 | €762 | -€43 | -5.4% |
| Gross operating margin | 9900 | €61,734 | €71,574 | +€9,840 | +15.9% |
| Operating profit (loss) | 9901 | €54,290 | €52,035 | -€2,255 | -4.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100.0% |
| Financial charges | 65/66B | €956 | €380 | -€576 | -60.3% |
| Recurring financial charges | 65 | €956 | €380 | -€576 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €53,334 | €51,655 | -€1,679 | -3.1% |
| Income taxes | 67/77 | €18,687 | €16,769 | -€1,918 | -10.3% |
| Profit (loss) for the period | 9904 | €34,647 | €34,886 | +€239 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,647 | €34,886 | +€239 | +0.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.