VENTANA: 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.
VENTANA
Largest movements
- Stocks and contracts +€93,914
up €93,914 (+190%), from €49,316 to €143,230
of which Contracts in progress: +€91,914
- Cash -€78,112
down €78,112 (-37.3%), from €209,391 to €131,278
mainly Debts after one year (-€122,198) and Stocks and contracts (-€93,914)
- Tangible fixed assets -€64,846
down €64,846 (-5.0%), from €1.3m to €1.2m
of which Land and buildings: -€40,848
- Receivables within one year +€30,848
up €30,848 (+25.3%), from €121,904 to €152,752
of which Trade receivables: +€35,974
- Advances received +€140,500
up €140,500, from €0 to €140,500
- Debts after one year -€122,198
down €122,198 (-16.3%), from €749,453 to €627,255
- Other debts -€50,000
down €50,000 (-29.8%), from €167,735 to €117,735
- Reserves +€19,215
up €19,215 (+7.9%), from €242,802 to €262,018
- Gross operating margin -€125,677
down €125,677 (-22.5%), from €559,352 to €433,676
- Staff costs +€48,696
up €48,696 (+21.3%), from €228,879 to €277,575
- Taxes -€31,185
down €31,185 (-78.1%), from €39,908 to €8,723
- Depreciation +€7,391
up €7,391 (+7.6%), from €96,999 to €104,391
- Financial charges -€5,705
down €5,705 (-18.7%), from €30,522 to €24,817
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 | €1,690,845 | €1,671,290 | -€19,555 | -1.2% |
| Fixed assets | 21/28 | €1,302,566 | €1,237,720 | -€64,846 | -5.0% |
| Tangible fixed assets | 22/27 | €1,301,066 | €1,236,220 | -€64,846 | -5.0% |
| Land and buildings | 22 | €1,043,541 | €1,002,693 | -€40,848 | -3.9% |
| Plant, machinery and equipment | 23 | €107,154 | €76,059 | -€31,096 | -29.0% |
| Furniture and vehicles | 24 | €33,310 | €55,408 | +€22,098 | +66.3% |
| Leasing and similar rights | 25 | €117,061 | €102,061 | -€15,000 | -12.8% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €388,279 | €433,570 | +€45,290 | +11.7% |
| Stocks and contracts in progress | 3 | €49,316 | €143,230 | +€93,914 | +190% |
| Stocks | 30/36 | €36,000 | €38,000 | +€2,000 | +5.6% |
| Contracts in progress | 37 | €13,316 | €105,230 | +€91,914 | +690% |
| Amounts receivable within one year | 40/41 | €121,904 | €152,752 | +€30,848 | +25.3% |
| Trade receivables | 40 | €88,398 | €124,372 | +€35,974 | +40.7% |
| Other amounts receivable | 41 | €33,507 | €28,380 | -€5,126 | -15.3% |
| Cash at bank and in hand | 54/58 | €209,391 | €131,278 | -€78,112 | -37.3% |
| Deferred charges and accrued income | 490/1 | €7,668 | €6,309 | -€1,359 | -17.7% |
| Total equity and liabilities | 10/49 | €1,690,845 | €1,671,290 | -€19,555 | -1.2% |
| Equity | 10/15 | €642,802 | €662,018 | +€19,215 | +3.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €242,802 | €262,018 | +€19,215 | +7.9% |
| Distributable reserves | 133 | €242,802 | €262,018 | +€19,215 | +7.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,048,043 | €1,009,272 | -€38,771 | -3.7% |
| Amounts payable after more than one year | 17 | €749,453 | €627,255 | -€122,198 | -16.3% |
| Financial debts | 170/4 | €749,453 | €627,255 | -€122,198 | -16.3% |
| Amounts payable within one year | 42/48 | €276,270 | €364,423 | +€88,154 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €21,223 | €22,198 | +€975 | +4.6% |
| Trade debts | 44 | €50,497 | €42,260 | -€8,237 | -16.3% |
| Suppliers | 440/4 | €50,497 | €42,260 | -€8,237 | -16.3% |
| Advances received on contracts in progress | 46 | €0 | €140,500 | +€140,500 | |
| Taxes, remuneration and social security | 45 | €36,815 | €41,730 | +€4,915 | +13.4% |
| Taxes | 450/3 | €12,214 | €14,910 | +€2,696 | +22.1% |
| Remuneration and social security | 454/9 | €24,601 | €26,820 | +€2,219 | +9.0% |
| Other amounts payable | 47/48 | €167,735 | €117,735 | -€50,000 | -29.8% |
| Accrued charges and deferred income | 492/3 | €22,321 | €17,594 | -€4,726 | -21.2% |
| Non-recurring operating income | 76A | €724 | €413 | -€311 | -42.9% |
| Remuneration, social security and pensions | 62 | €228,879 | €277,575 | +€48,696 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,999 | €104,391 | +€7,391 | +7.6% |
| Other operating charges | 640/8 | €13,088 | €10,984 | -€2,104 | -16.1% |
| Gross operating margin | 9900 | €559,352 | €433,676 | -€125,677 | -22.5% |
| Operating profit (loss) | 9901 | €220,386 | €40,726 | -€179,660 | -81.5% |
| Financial income | 75/76B | €13,920 | €12,029 | -€1,891 | -13.6% |
| Recurring financial income | 75 | €13,920 | €12,029 | -€1,891 | -13.6% |
| Financial charges | 65/66B | €30,522 | €24,817 | -€5,705 | -18.7% |
| Recurring financial charges | 65 | €30,522 | €24,817 | -€5,705 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €203,784 | €27,938 | -€175,846 | -86.3% |
| Income taxes | 67/77 | €39,908 | €8,723 | -€31,185 | -78.1% |
| Profit (loss) for the period | 9904 | €163,876 | €19,215 | -€144,661 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €163,876 | €19,215 | -€144,661 | -88.3% |
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 17 October 2026 via checked.be.