VENTAMAX: 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.
VENTAMAX
Largest movements
- Receivables within one year -€59,195
down €59,195 (-55.6%), from €106,419 to €47,224
of which Trade receivables: -€58,638
- Cash -€13,085
down €13,085 (-29.7%), from €44,109 to €31,024
mainly Trade debts (-€50,287) and Investment in fixed assets (net) (-€21,506)
- Tangible fixed assets +€10,113
up €10,113 (+40.0%), from €25,277 to €35,390
of which Furniture and vehicles: +€17,148
- Stocks and contracts -€7,752
down €7,752 (-82.4%), from €9,403 to €1,651
- Trade debts -€50,287
down €50,287 (-64.9%), from €77,522 to €27,235
- Profit (loss) carried forward -€15,286
down €15,286 (-42.3%), from €36,105 to €20,818
- Debts after one year -€5,378
down €5,378 (-100.0%), from €5,378 to €0
- Other debts +€2,843
up €2,843 (+32.5%), from €8,759 to €11,601
- Gross operating margin -€51,927
down €51,927 (-57.6%), from €90,139 to €38,212
- Staff costs -€48,228
down €48,228 (-57.5%), from €83,875 to €35,647
- Depreciation +€1,421
up €1,421 (+14.3%), from €9,972 to €11,393
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 | €187,909 | €117,990 | -€69,919 | -37.2% |
| Fixed assets | 21/28 | €27,977 | €38,090 | +€10,113 | +36.1% |
| Tangible fixed assets | 22/27 | €25,277 | €35,390 | +€10,113 | +40.0% |
| Plant, machinery and equipment | 23 | €11,776 | €9,637 | -€2,139 | -18.2% |
| Furniture and vehicles | 24 | €3,642 | €20,790 | +€17,148 | +470.9% |
| Leasing and similar rights | 25 | €9,860 | €4,964 | -€4,896 | -49.7% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €159,931 | €79,899 | -€80,032 | -50.0% |
| Stocks and contracts in progress | 3 | €9,403 | €1,651 | -€7,752 | -82.4% |
| Contracts in progress | 37 | €9,403 | €1,651 | -€7,752 | -82.4% |
| Amounts receivable within one year | 40/41 | €106,419 | €47,224 | -€59,195 | -55.6% |
| Trade receivables | 40 | €93,865 | €35,228 | -€58,638 | -62.5% |
| Other amounts receivable | 41 | €12,554 | €11,997 | -€558 | -4.4% |
| Cash at bank and in hand | 54/58 | €44,109 | €31,024 | -€13,085 | -29.7% |
| Total equity and liabilities | 10/49 | €187,909 | €117,990 | -€69,919 | -37.2% |
| Equity | 10/15 | €61,878 | €46,592 | -€15,286 | -24.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €20,773 | €20,773 | = | 0.0% |
| Distributable reserves | 133 | €20,773 | €20,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,105 | €20,818 | -€15,286 | -42.3% |
| Amounts payable | 17/49 | €126,031 | €71,398 | -€54,633 | -43.3% |
| Amounts payable after more than one year | 17 | €5,378 | €0 | -€5,378 | -100.0% |
| Financial debts | 170/4 | €5,378 | €0 | -€5,378 | -100.0% |
| Amounts payable within one year | 42/48 | €120,652 | €71,398 | -€49,254 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €8,370 | €7,562 | -€809 | -9.7% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €77,522 | €27,235 | -€50,287 | -64.9% |
| Suppliers | 440/4 | €77,522 | €27,235 | -€50,287 | -64.9% |
| Taxes, remuneration and social security | 45 | €1,001 | €0 | -€1,001 | -100.0% |
| Remuneration and social security | 454/9 | €1,001 | €0 | -€1,001 | -100.0% |
| Other amounts payable | 47/48 | €8,759 | €11,601 | +€2,843 | +32.5% |
| Remuneration, social security and pensions | 62 | €83,875 | €35,647 | -€48,228 | -57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,972 | €11,393 | +€1,421 | +14.3% |
| Other operating charges | 640/8 | €1,087 | €845 | -€242 | -22.2% |
| Non-recurring operating charges | 66A | €25,390 | €0 | -€25,390 | -100.0% |
| Gross operating margin | 9900 | €90,139 | €38,212 | -€51,927 | -57.6% |
| Operating profit (loss) | 9901 | -€30,185 | -€9,673 | +€20,512 | +68.0% |
| Financial income | 75/76B | €403 | €80 | -€322 | -80.0% |
| Recurring financial income | 75 | €403 | €80 | -€322 | -80.0% |
| Financial charges | 65/66B | €5,127 | €5,520 | +€393 | +7.7% |
| Recurring financial charges | 65 | €5,127 | €5,520 | +€393 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€34,909 | -€15,112 | +€19,797 | +56.7% |
| Income taxes | 67/77 | €21 | €174 | +€153 | +721.1% |
| Profit (loss) for the period | 9904 | -€34,930 | -€15,286 | +€19,644 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,930 | -€15,286 | +€19,644 | +56.2% |
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 12 October 2026 via checked.be.