VENGRESS: 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.
VENGRESS
Largest movements
- Financial fixed assets -€140,539
down €140,539 (-73.3%), from €191,847 to €51,308
- Deferred charges and accrued income -€48,353
down €48,353 (-73.3%), from €65,949 to €17,596
- Tangible fixed assets -€6,312
down €6,312 (-4.6%), from €138,473 to €132,161
of which Land and buildings: -€6,274
- Profit (loss) carried forward -€70,468
down €70,468 (-8.0%), from -€882,877 to -€953,346
- Short-term financial debts -€65,000
no longer reported in 2025 (was €65,000)
- Other debts -€47,393
down €47,393 (-4.6%), from €1.0m to €975,105
- Debts after one year -€7,291
down €7,291 (-5.5%), from €132,291 to €125,000
- Gross operating margin -€93,638
down €93,638, from €66,958 to -€26,681
- Financial charges -€10,391
down €10,391 (-24.1%), from €43,139 to €32,748
- Taxes -€2,760
no longer reported in 2025 (was €2,760)
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 | €398,167 | €202,885 | -€195,282 | -49.0% |
| Fixed assets | 21/28 | €330,320 | €183,469 | -€146,851 | -44.5% |
| Tangible fixed assets | 22/27 | €138,473 | €132,161 | -€6,312 | -4.6% |
| Land and buildings | 22 | €137,696 | €131,422 | -€6,274 | -4.6% |
| Other tangible fixed assets | 26 | €777 | €739 | -€38 | -4.9% |
| Financial fixed assets | 28 | €191,847 | €51,308 | -€140,539 | -73.3% |
| Current assets | 29/58 | €67,847 | €19,417 | -€48,430 | -71.4% |
| Amounts receivable within one year | 40/41 | €229 | €345 | +€116 | +50.7% |
| Other amounts receivable | 41 | €229 | €345 | +€116 | +50.7% |
| Current investments | 50/53 | €472 | €533 | +€61 | +12.9% |
| Cash at bank and in hand | 54/58 | €1,196 | €942 | -€254 | -21.3% |
| Deferred charges and accrued income | 490/1 | €65,949 | €17,596 | -€48,353 | -73.3% |
| Total equity and liabilities | 10/49 | €398,167 | €202,885 | -€195,282 | -49.0% |
| Equity | 10/15 | -€858,248 | -€928,716 | -€70,468 | -8.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €12,230 | €12,230 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,230 | €12,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€882,877 | -€953,346 | -€70,468 | -8.0% |
| Amounts payable | 17/49 | €1,256,414 | €1,131,601 | -€124,813 | -9.9% |
| Amounts payable after more than one year | 17 | €132,291 | €125,000 | -€7,291 | -5.5% |
| Financial debts | 170/4 | €132,291 | €125,000 | -€7,291 | -5.5% |
| Amounts payable within one year | 42/48 | €1,110,047 | €992,013 | -€118,034 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €8,750 | €7,291 | -€1,459 | -16.7% |
| Financial debts | 43 | €65,000 | - | -€65,000 | |
| Credit institutions | 430/8 | €65,000 | - | -€65,000 | |
| Trade debts | 44 | €11,039 | €9,616 | -€1,423 | -12.9% |
| Suppliers | 440/4 | €11,039 | €9,616 | -€1,423 | -12.9% |
| Taxes, remuneration and social security | 45 | €2,760 | - | -€2,760 | |
| Taxes | 450/3 | €2,760 | - | -€2,760 | |
| Other amounts payable | 47/48 | €1,022,498 | €975,105 | -€47,393 | -4.6% |
| Accrued charges and deferred income | 492/3 | €14,077 | €14,589 | +€512 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,329 | €6,312 | -€17 | -0.3% |
| Other operating charges | 640/8 | €4,618 | €4,728 | +€110 | +2.4% |
| Gross operating margin | 9900 | €66,958 | -€26,681 | -€93,638 | |
| Operating profit (loss) | 9901 | €56,011 | -€37,720 | -€93,731 | |
| Financial income | 75/76B | €50 | - | -€50 | |
| Recurring financial income | 75 | €50 | - | -€50 | |
| Financial charges | 65/66B | €43,139 | €32,748 | -€10,391 | -24.1% |
| Recurring financial charges | 65 | €43,139 | €32,748 | -€10,391 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €12,922 | -€70,468 | -€83,390 | |
| Income taxes | 67/77 | €2,760 | - | -€2,760 | |
| Profit (loss) for the period | 9904 | €10,162 | -€70,468 | -€80,631 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,162 | -€70,468 | -€80,631 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.