VENEVAR: 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.
VENEVAR
Largest movements
- Receivables within one year -€604,139
down €604,139 (-98.1%), from €615,763 to €11,624
of which Other amounts receivable: -€604,859
- Stocks and contracts -€571,203
no longer reported in 2025 (was €571,203)
- Cash +€91,379
up €91,379 (+25.5%), from €358,628 to €450,007
mainly Receivables within one year (+€604,139) and Net result for the year (+€593,933)
- Tangible fixed assets +€73,597
up €73,597 (+2.5%), from €2.9m to €3.0m
- Trade debts -€1.0m
down €1.0m (-99.9%), from €1.0m to €738
- Profit (loss) carried forward +€593,933
up €593,933 (+5667.6%), from €10,479 to €604,413
- Other debts -€479,493
down €479,493 (-20.4%), from €2.4m to €1.9m
- Debts after one year -€80,567
down €80,567 (-8.5%), from €946,667 to €866,099
- Gross operating margin +€905,904
up €905,904 (+2131.2%), from €42,508 to €948,412
- Depreciation +€163,388
up €163,388 (+2159.8%), from €7,565 to €170,953
- Taxes +€156,476
up €156,476 (+5972.7%), from €2,620 to €159,095
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 | €4,451,938 | €3,438,351 | -€1.0m | -22.8% |
| Fixed assets | 21/28 | €2,905,170 | €2,975,834 | +€70,664 | +2.4% |
| Intangible fixed assets | 21 | €11,631 | €8,699 | -€2,933 | -25.2% |
| Tangible fixed assets | 22/27 | €2,893,539 | €2,967,136 | +€73,597 | +2.5% |
| Land and buildings | 22 | €2,893,539 | €2,967,136 | +€73,597 | +2.5% |
| Current assets | 29/58 | €1,546,768 | €462,516 | -€1.1m | -70.1% |
| Stocks and contracts in progress | 3 | €571,203 | - | -€571,203 | |
| Stocks | 30/36 | €571,203 | - | -€571,203 | |
| Amounts receivable within one year | 40/41 | €615,763 | €11,624 | -€604,139 | -98.1% |
| Trade receivables | 40 | - | €720 | +€720 | |
| Other amounts receivable | 41 | €615,763 | €10,905 | -€604,859 | -98.2% |
| Cash at bank and in hand | 54/58 | €358,628 | €450,007 | +€91,379 | +25.5% |
| Deferred charges and accrued income | 490/1 | €1,173 | €885 | -€289 | -24.6% |
| Total equity and liabilities | 10/49 | €4,451,938 | €3,438,351 | -€1.0m | -22.8% |
| Equity | 10/15 | €20,479 | €614,413 | +€593,933 | +2900.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,479 | €604,413 | +€593,933 | +5667.6% |
| Amounts payable | 17/49 | €4,431,458 | €2,823,938 | -€1.6m | -36.3% |
| Amounts payable after more than one year | 17 | €946,667 | €866,099 | -€80,567 | -8.5% |
| Financial debts | 170/4 | €946,667 | €866,099 | -€80,567 | -8.5% |
| Amounts payable within one year | 42/48 | €3,484,792 | €1,957,839 | -€1.5m | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €80,567 | €80,567 | = | 0.0% |
| Trade debts | 44 | €1,049,546 | €738 | -€1.0m | -99.9% |
| Suppliers | 440/4 | €1,049,546 | €738 | -€1.0m | -99.9% |
| Taxes, remuneration and social security | 45 | €3,457 | €4,805 | +€1,348 | +39.0% |
| Taxes | 450/3 | €3,457 | €4,805 | +€1,348 | +39.0% |
| Other amounts payable | 47/48 | €2,351,221 | €1,871,728 | -€479,493 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,565 | €170,953 | +€163,388 | +2159.8% |
| Other operating charges | 640/8 | €9,849 | €13,596 | +€3,746 | +38.0% |
| Gross operating margin | 9900 | €42,508 | €948,412 | +€905,904 | +2131.2% |
| Operating profit (loss) | 9901 | €25,093 | €763,863 | +€738,769 | +2944.1% |
| Financial income | 75/76B | €6 | €0 | -€5 | -92.9% |
| Recurring financial income | 75 | €6 | €0 | -€5 | -92.9% |
| Financial charges | 65/66B | €12,000 | €10,834 | -€1,165 | -9.7% |
| Recurring financial charges | 65 | €12,000 | €10,834 | -€1,165 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €13,099 | €753,029 | +€739,929 | +5648.7% |
| Income taxes | 67/77 | €2,620 | €159,095 | +€156,476 | +5972.7% |
| Profit (loss) for the period | 9904 | €10,479 | €593,933 | +€583,454 | +5567.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,479 | €593,933 | +€583,454 | +5567.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.