VENSOL: 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.
VENSOL
Largest movements
- Cash +€183,444
up €183,444 (+2709.1%), from €6,772 to €190,216
mainly Contributions, distributions and other (+€250,000) and Receivables within one year (+€75,386)
- Tangible fixed assets +€121,517
up €121,517 (+687.5%), from €17,675 to €139,192
of which Leasing and similar rights: +€121,573
- Receivables within one year -€75,386
down €75,386 (-13.8%), from €545,480 to €470,094
of which Trade receivables: -€104,171
- Stocks and contracts -€41,825
down €41,825 (-4.2%), from €994,738 to €952,913
of which Contracts in progress: -€25,187
- Contributions +€250,000
up €250,000 (+92.9%), from €269,122 to €519,122
- Debts after one year +€61,234
up €61,234 (+14.5%), from €422,474 to €483,708
of which Financial debts: +€49,287
- Profit (loss) carried forward +€61,123
up €61,123 (+11.3%), from -€540,508 to -€479,386
- Current portion of long-term debt -€60,593
down €60,593 (-58.3%), from €103,875 to €43,282
- Tax, wage and social debts -€55,258
down €55,258 (-59.7%), from €92,544 to €37,286
of which Remuneration and social security: -€48,700
- Gross operating margin -€39,727
down €39,727 (-5.4%), from €735,698 to €695,971
- Staff costs -€36,074
down €36,074 (-5.7%), from €631,056 to €594,982
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,570,242 | €1,753,977 | +€183,735 | +11.7% |
| Fixed assets | 21/28 | €19,653 | €140,754 | +€121,101 | +616.2% |
| Intangible fixed assets | 21 | €1,978 | €1,562 | -€416 | -21.0% |
| Tangible fixed assets | 22/27 | €17,675 | €139,192 | +€121,517 | +687.5% |
| Plant, machinery and equipment | 23 | €17,675 | €17,619 | -€56 | -0.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | - | €121,573 | +€121,573 | |
| Current assets | 29/58 | €1,550,589 | €1,613,223 | +€62,634 | +4.0% |
| Stocks and contracts in progress | 3 | €994,738 | €952,913 | -€41,825 | -4.2% |
| Stocks | 30/36 | €279,978 | €263,339 | -€16,639 | -5.9% |
| Contracts in progress | 37 | €714,761 | €689,574 | -€25,187 | -3.5% |
| Amounts receivable within one year | 40/41 | €545,480 | €470,094 | -€75,386 | -13.8% |
| Trade receivables | 40 | €538,120 | €433,949 | -€104,171 | -19.4% |
| Other amounts receivable | 41 | €7,360 | €36,145 | +€28,785 | +391.1% |
| Cash at bank and in hand | 54/58 | €6,772 | €190,216 | +€183,444 | +2709.1% |
| Deferred charges and accrued income | 490/1 | €3,599 | €0 | -€3,599 | -100.0% |
| Total equity and liabilities | 10/49 | €1,570,242 | €1,753,977 | +€183,735 | +11.7% |
| Equity | 10/15 | -€268,689 | €39,736 | +€308,426 | |
| Contributions | 10/11 | €269,122 | €519,122 | +€250,000 | +92.9% |
| Reserves | 13 | €2,697 | €0 | -€2,697 | -100.0% |
| Non-distributable reserves | 130/1 | €2,697 | €0 | -€2,697 | -100.0% |
| Reserves not available under the articles | 1311 | €2,697 | €0 | -€2,697 | -100.0% |
| Profit (loss) carried forward | 14 | -€540,508 | -€479,386 | +€61,123 | +11.3% |
| Amounts payable | 17/49 | €1,838,931 | €1,714,241 | -€124,690 | -6.8% |
| Amounts payable after more than one year | 17 | €422,474 | €483,708 | +€61,234 | +14.5% |
| Financial debts | 170/4 | €24,250 | €73,537 | +€49,287 | +203.2% |
| Other amounts payable | 178/9 | €398,224 | €410,170 | +€11,947 | +3.0% |
| Amounts payable within one year | 42/48 | €1,416,457 | €1,230,533 | -€185,924 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €103,875 | €43,282 | -€60,593 | -58.3% |
| Financial debts | 43 | €0 | €3,041 | +€3,041 | |
| Credit institutions | 430/8 | €0 | €3,041 | +€3,041 | |
| Trade debts | 44 | €651,097 | €628,125 | -€22,972 | -3.5% |
| Suppliers | 440/4 | €651,097 | €628,125 | -€22,972 | -3.5% |
| Taxes, remuneration and social security | 45 | €92,544 | €37,286 | -€55,258 | -59.7% |
| Taxes | 450/3 | €6,558 | €0 | -€6,558 | -100.0% |
| Remuneration and social security | 454/9 | €85,986 | €37,286 | -€48,700 | -56.6% |
| Other amounts payable | 47/48 | €568,941 | €518,800 | -€50,142 | -8.8% |
| Remuneration, social security and pensions | 62 | €631,056 | €594,982 | -€36,074 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,065 | €11,334 | +€7,270 | +178.9% |
| Other operating charges | 640/8 | €1,370 | €1,402 | +€33 | +2.4% |
| Non-recurring operating charges | 66A | €29,215 | €0 | -€29,215 | -100.0% |
| Gross operating margin | 9900 | €735,698 | €695,971 | -€39,727 | -5.4% |
| Operating profit (loss) | 9901 | €69,993 | €88,252 | +€18,259 | +26.1% |
| Financial income | 75/76B | €854 | €21 | -€833 | -97.5% |
| Recurring financial income | 75 | €854 | €21 | -€833 | -97.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €26,178 | €29,703 | +€3,525 | +13.5% |
| Recurring financial charges | 65 | €26,178 | €29,703 | +€3,525 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €44,669 | €58,571 | +€13,901 | +31.1% |
| Income taxes | 67/77 | €139 | €145 | +€6 | +4.7% |
| Profit (loss) for the period | 9904 | €44,531 | €58,426 | +€13,895 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,531 | €58,426 | +€13,895 | +31.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.