VENISE: 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.
VENISE
Largest movements
- Cash -€124,503
down €124,503 (-93.7%), from €132,850 to €8,347
mainly Other debts (-€68,552) and Current portion of long-term debt (-€52,937)
- Tangible fixed assets -€37,389
down €37,389 (-2.8%), from €1.3m to €1.3m
- Other debts -€68,552
down €68,552 (-29.1%), from €235,818 to €167,267
- Current portion of long-term debt -€52,937
down €52,937 (-37.8%), from €140,189 to €87,252
- Short-term financial debts -€52,926
down €52,926 (-30.2%), from €175,271 to €122,346
- Reserves +€48,575
up €48,575 (+5.3%), from €910,961 to €959,535
of which Distributable reserves: +€48,575
- Debts after one year -€36,244
down €36,244 (-38.3%), from €94,514 to €58,270
- Gross operating margin +€84,809
up €84,809 (+17.8%), from €476,995 to €561,803
- Staff costs +€26,451
up €26,451 (+6.7%), from €392,157 to €418,608
- Financial income -€23,839
down €23,839 (-97.1%), from €24,558 to €719
- Financial charges -€10,552
down €10,552 (-25.6%), from €41,155 to €30,603
- Other operating charges +€8,104
up €8,104 (+87.9%), from €9,222 to €17,326
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 | €1,521,298 | €1,349,279 | -€172,019 | -11.3% |
| Fixed assets | 21/28 | €1,324,298 | €1,286,533 | -€37,765 | -2.9% |
| Intangible fixed assets | 21 | €202 | €127 | -€75 | -37.4% |
| Tangible fixed assets | 22/27 | €1,323,796 | €1,286,406 | -€37,389 | -2.8% |
| Land and buildings | 22 | €568,317 | €550,166 | -€18,151 | -3.2% |
| Plant, machinery and equipment | 23 | €33,618 | €27,104 | -€6,514 | -19.4% |
| Furniture and vehicles | 24 | €14,087 | €7,499 | -€6,588 | -46.8% |
| Leasing and similar rights | 25 | €30,479 | €24,343 | -€6,136 | -20.1% |
| Other tangible fixed assets | 26 | €677,295 | €677,295 | = | 0.0% |
| Financial fixed assets | 28 | €300 | €0 | -€300 | -100% |
| Current assets | 29/58 | €197,001 | €62,746 | -€134,254 | -68.1% |
| Stocks and contracts in progress | 3 | €34,340 | €24,800 | -€9,540 | -27.8% |
| Stocks | 30/36 | €34,340 | €24,800 | -€9,540 | -27.8% |
| Amounts receivable within one year | 40/41 | €11,093 | €18,568 | +€7,475 | +67.4% |
| Trade receivables | 40 | €5,463 | €12,688 | +€7,225 | +132% |
| Other amounts receivable | 41 | €5,630 | €5,880 | +€250 | +4.4% |
| Cash at bank and in hand | 54/58 | €132,850 | €8,347 | -€124,503 | -93.7% |
| Deferred charges and accrued income | 490/1 | €18,718 | €11,031 | -€7,686 | -41.1% |
| Total equity and liabilities | 10/49 | €1,521,298 | €1,349,279 | -€172,019 | -11.3% |
| Equity | 10/15 | €706,470 | €753,388 | +€46,918 | +6.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €99,399 | €97,743 | -€1,656 | -1.7% |
| Reserves | 13 | €910,961 | €959,535 | +€48,575 | +5.3% |
| Non-distributable reserves | 130/1 | €67,500 | €67,500 | = | 0.0% |
| Legal reserve | 130 | €67,500 | €67,500 | = | 0.0% |
| Distributable reserves | 133 | €843,461 | €892,035 | +€48,575 | +5.8% |
| Profit (loss) carried forward | 14 | -€1,303,889 | -€1,303,889 | = | 0.0% |
| Amounts payable | 17/49 | €814,828 | €595,891 | -€218,938 | -26.9% |
| Amounts payable after more than one year | 17 | €94,514 | €58,270 | -€36,244 | -38.3% |
| Financial debts | 170/4 | €94,514 | €58,270 | -€36,244 | -38.3% |
| Amounts payable within one year | 42/48 | €720,314 | €537,621 | -€182,693 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €140,189 | €87,252 | -€52,937 | -37.8% |
| Financial debts | 43 | €175,271 | €122,346 | -€52,926 | -30.2% |
| Credit institutions | 430/8 | €175,271 | €122,346 | -€52,926 | -30.2% |
| Trade debts | 44 | €83,579 | €75,299 | -€8,280 | -9.9% |
| Suppliers | 440/4 | €83,579 | €75,299 | -€8,280 | -9.9% |
| Advances received on contracts in progress | 46 | - | €3,050 | +€3,050 | |
| Taxes, remuneration and social security | 45 | €85,457 | €82,408 | -€3,049 | -3.6% |
| Taxes | 450/3 | €39,494 | €39,780 | +€286 | +0.7% |
| Remuneration and social security | 454/9 | €45,962 | €42,628 | -€3,335 | -7.3% |
| Other amounts payable | 47/48 | €235,818 | €167,267 | -€68,552 | -29.1% |
| Remuneration, social security and pensions | 62 | €392,157 | €418,608 | +€26,451 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,585 | €43,670 | +€1,085 | +2.5% |
| Other operating charges | 640/8 | €9,222 | €17,326 | +€8,104 | +87.9% |
| Gross operating margin | 9900 | €476,995 | €561,803 | +€84,809 | +17.8% |
| Operating profit (loss) | 9901 | €33,031 | €82,199 | +€49,169 | +149% |
| Financial income | 75/76B | €24,558 | €719 | -€23,839 | -97.1% |
| Recurring financial income | 75 | €24,558 | €719 | -€23,839 | -97.1% |
| Financial charges | 65/66B | €41,155 | €30,603 | -€10,552 | -25.6% |
| Recurring financial charges | 65 | €41,155 | €30,603 | -€10,552 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €16,434 | €52,315 | +€35,881 | +218% |
| Income taxes | 67/77 | €747 | €5,397 | +€4,650 | +623% |
| Profit (loss) for the period | 9904 | €15,687 | €46,918 | +€31,231 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €15,687 | €46,918 | +€31,231 | +199% |
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 20 October 2026 via checked.be.