VENO: 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.
VENO
Largest movements
- Receivables within one year +€13,036
up €13,036 (+3,412%), from €382 to €13,418
of which Trade receivables: +€8,693
- Deferred charges and accrued income -€7,195
down €7,195 (-90.2%), from €7,976 to €781
- Intangible fixed assets -€3,500
down €3,500 (-12.0%), from €29,093 to €25,593
- Cash -€2,334
down €2,334 (-16.5%), from €14,139 to €11,805
mainly Receivables within one year (-€13,036) and Tax, wage and social debts (-€7,436)
- Profit (loss) carried forward +€14,370
up €14,370 (+110%), from €13,015 to €27,386
- Tax, wage and social debts -€7,436
down €7,436 (-24.7%), from €30,071 to €22,634
of which Remuneration and social security: -€6,675
- Other debts -€6,055
down €6,055 (-57.5%), from €10,531 to €4,476
- Advances received -€4,741
down €4,741 (-81.7%), from €5,800 to €1,059
- Trade debts +€4,347
up €4,347 (+177%), from €2,455 to €6,802
- Gross operating margin -€61,260
down €61,260 (-22.0%), from €278,097 to €216,837
- Staff costs -€57,770
down €57,770 (-23.5%), from €245,531 to €187,761
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 | €68,831 | €69,465 | +€634 | +0.9% |
| Fixed assets | 21/28 | €41,603 | €38,615 | -€2,988 | -7.2% |
| Intangible fixed assets | 21 | €29,093 | €25,593 | -€3,500 | -12.0% |
| Tangible fixed assets | 22/27 | €12,510 | €13,022 | +€512 | +4.1% |
| Plant, machinery and equipment | 23 | €8,927 | €10,380 | +€1,453 | +16.3% |
| Furniture and vehicles | 24 | €1,502 | €1,160 | -€342 | -22.7% |
| Other tangible fixed assets | 26 | €2,081 | €1,481 | -€600 | -28.8% |
| Current assets | 29/58 | €27,227 | €30,850 | +€3,623 | +13.3% |
| Stocks and contracts in progress | 3 | €4,730 | €4,846 | +€116 | +2.4% |
| Stocks | 30/36 | €4,730 | €4,846 | +€116 | +2.4% |
| Amounts receivable within one year | 40/41 | €382 | €13,418 | +€13,036 | +3,412% |
| Trade receivables | 40 | €382 | €9,075 | +€8,693 | +2,275% |
| Other amounts receivable | 41 | - | €4,343 | +€4,343 | |
| Cash at bank and in hand | 54/58 | €14,139 | €11,805 | -€2,334 | -16.5% |
| Deferred charges and accrued income | 490/1 | €7,976 | €781 | -€7,195 | -90.2% |
| Total equity and liabilities | 10/49 | €68,831 | €69,465 | +€634 | +0.9% |
| Equity | 10/15 | €18,015 | €32,386 | +€14,370 | +79.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,015 | €27,386 | +€14,370 | +110% |
| Amounts payable | 17/49 | €50,815 | €37,079 | -€13,736 | -27.0% |
| Amounts payable within one year | 42/48 | €48,857 | €34,972 | -€13,885 | -28.4% |
| Trade debts | 44 | €2,455 | €6,802 | +€4,347 | +177% |
| Suppliers | 440/4 | €2,455 | €6,802 | +€4,347 | +177% |
| Advances received on contracts in progress | 46 | €5,800 | €1,059 | -€4,741 | -81.7% |
| Taxes, remuneration and social security | 45 | €30,071 | €22,634 | -€7,436 | -24.7% |
| Taxes | 450/3 | €7,323 | €6,562 | -€761 | -10.4% |
| Remuneration and social security | 454/9 | €22,748 | €16,073 | -€6,675 | -29.3% |
| Other amounts payable | 47/48 | €10,531 | €4,476 | -€6,055 | -57.5% |
| Accrued charges and deferred income | 492/3 | €1,958 | €2,107 | +€149 | +7.6% |
| Non-recurring operating income | 76A | €382 | €0 | -€382 | -100% |
| Remuneration, social security and pensions | 62 | €245,531 | €187,761 | -€57,770 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,633 | €6,152 | +€519 | +9.2% |
| Other operating charges | 640/8 | €951 | €650 | -€300 | -31.6% |
| Gross operating margin | 9900 | €278,097 | €216,837 | -€61,260 | -22.0% |
| Operating profit (loss) | 9901 | €25,983 | €22,273 | -€3,709 | -14.3% |
| Financial income | 75/76B | €39 | €88 | +€50 | +129% |
| Recurring financial income | 75 | €39 | €88 | +€50 | +129% |
| Financial charges | 65/66B | €3,953 | €1,955 | -€1,999 | -50.6% |
| Recurring financial charges | 65 | €3,953 | €1,955 | -€1,999 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €22,068 | €20,407 | -€1,661 | -7.5% |
| Income taxes | 67/77 | €4,415 | €6,037 | +€1,621 | +36.7% |
| Profit (loss) for the period | 9904 | €17,652 | €14,370 | -€3,282 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,652 | €14,370 | -€3,282 | -18.6% |
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 27 October 2026 via checked.be.