VENSO: 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.
VENSO
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-41.3%), from €2.6m to €1.5m
of which Other amounts receivable: -€1.1m
- Stocks and contracts -€300,660
down €300,660 (-100.0%), from €300,660 to €0
- Deferred charges and accrued income -€64,130
down €64,130 (-53.3%), from €120,356 to €56,226
- Debts after one year -€971,738
down €971,738 (-100.0%), from €971,738 to €0
- Trade debts -€277,140
down €277,140 (-100.0%), from €277,185 to €45
- Profit (loss) carried forward -€206,133
down €206,133, from €43,325 to -€162,807
- Accrued charges and deferred income +€175,543
new in 2025: €175,543
- Other debts -€138,139
down €138,139 (-68.0%), from €203,008 to €64,869
- Financial charges +€172,699
up €172,699 (+18001.5%), from €959 to €173,658
- Gross operating margin -€74,981
down €74,981 (-5997.9%), from -€1,250 to -€76,231
- Financial income -€45,524
down €45,524 (-44.7%), from €101,750 to €56,226
- Taxes +€9,558
up €9,558 (+729.1%), from €1,311 to €10,868
- Depreciation -€2,420
down €2,420 (-60.2%), from €4,022 to €1,602
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 | €3,029,830 | €1,604,777 | -€1.4m | -47.0% |
| Fixed assets | 21/28 | €11,978 | €6,398 | -€5,580 | -46.6% |
| Tangible fixed assets | 22/27 | €11,978 | €6,398 | -€5,580 | -46.6% |
| Furniture and vehicles | 24 | €11,978 | €6,398 | -€5,580 | -46.6% |
| Current assets | 29/58 | €3,017,852 | €1,598,379 | -€1.4m | -47.0% |
| Stocks and contracts in progress | 3 | €300,660 | €0 | -€300,660 | -100.0% |
| Stocks | 30/36 | €300,660 | €0 | -€300,660 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,580,564 | €1,515,732 | -€1.1m | -41.3% |
| Trade receivables | 40 | €10,235 | €7,325 | -€2,909 | -28.4% |
| Other amounts receivable | 41 | €2,570,330 | €1,508,406 | -€1.1m | -41.3% |
| Cash at bank and in hand | 54/58 | €16,271 | €26,421 | +€10,150 | +62.4% |
| Deferred charges and accrued income | 490/1 | €120,356 | €56,226 | -€64,130 | -53.3% |
| Total equity and liabilities | 10/49 | €3,029,830 | €1,604,777 | -€1.4m | -47.0% |
| Equity | 10/15 | €48,325 | -€157,807 | -€206,133 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,325 | -€162,807 | -€206,133 | |
| Amounts payable | 17/49 | €2,981,504 | €1,762,585 | -€1.2m | -40.9% |
| Amounts payable after more than one year | 17 | €971,738 | €0 | -€971,738 | -100.0% |
| Financial debts | 170/4 | €971,738 | €0 | -€971,738 | -100.0% |
| Amounts payable within one year | 42/48 | €2,009,766 | €1,587,042 | -€422,724 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €1,528,262 | €1,522,128 | -€6,134 | -0.4% |
| Trade debts | 44 | €277,185 | €45 | -€277,140 | -100.0% |
| Suppliers | 440/4 | €277,185 | €45 | -€277,140 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,311 | €0 | -€1,311 | -100.0% |
| Taxes | 450/3 | €1,311 | €0 | -€1,311 | -100.0% |
| Other amounts payable | 47/48 | €203,008 | €64,869 | -€138,139 | -68.0% |
| Accrued charges and deferred income | 492/3 | - | €175,543 | +€175,543 | |
| Non-recurring operating income | 76A | - | €3,240 | +€3,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,022 | €1,602 | -€2,420 | -60.2% |
| Other operating charges | 640/8 | €2,224 | €0 | -€2,224 | -100.0% |
| Gross operating margin | 9900 | -€1,250 | -€76,231 | -€74,981 | -5997.9% |
| Operating profit (loss) | 9901 | -€7,496 | -€77,833 | -€70,337 | -938.4% |
| Financial income | 75/76B | €101,750 | €56,226 | -€45,524 | -44.7% |
| Recurring financial income | 75 | €101,750 | €56,226 | -€45,524 | -44.7% |
| Financial charges | 65/66B | €959 | €173,658 | +€172,699 | +18001.5% |
| Recurring financial charges | 65 | €959 | €173,658 | +€172,699 | +18001.5% |
| Profit (loss) for the period before taxes | 9903 | €93,295 | -€195,264 | -€288,559 | |
| Income taxes | 67/77 | €1,311 | €10,868 | +€9,558 | +729.1% |
| Profit (loss) for the period | 9904 | €91,984 | -€206,133 | -€298,117 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,984 | -€206,133 | -€298,117 |
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 1 October 2026 via checked.be.