VENTURE CAMPUS: 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.
VENTURE CAMPUS
Largest movements
- Receivables within one year +€466,287
up €466,287 (+36.4%), from €1.3m to €1.7m
of which Trade receivables: +€446,526
- Cash +€190,824
up €190,824 (+584%), from €32,682 to €223,506
mainly Net result for the year (+€445,248) and Other debts (+€422,837)
- Receivables after one year -€54,246
down €54,246 (-78.3%), from €69,246 to €15,000
- Other debts +€422,837
up €422,837 (+530%), from €79,719 to €502,556
- Current portion of long-term debt -€215,000
no longer reported in 2025 (was €215,000)
- Short-term financial debts +€213,693
up €213,693 (+5,646%), from €3,785 to €217,478
of which Other loans: +€215,000
- Tax, wage and social debts +€189,691
up €189,691 (+93.4%), from €203,136 to €392,827
of which Taxes: +€162,059
- Reserves -€54,752
down €54,752 (-9.1%), from €601,543 to €546,790
of which Distributable reserves: -€54,752
- Gross operating margin +€120,474
up €120,474 (+17.0%), from €708,211 to €828,684
- Staff costs +€75,710
up €75,710 (+67.9%), from €111,481 to €187,191
- Taxes +€49,026
up €49,026 (+42.7%), from €114,687 to €163,712
- Depreciation +€11,031
up €11,031 (+97.1%), from €11,356 to €22,387
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 | €1,504,345 | €2,119,441 | +€615,097 | +40.9% |
| Fixed assets | 21/28 | €71,235 | €93,930 | +€22,695 | +31.9% |
| Intangible fixed assets | 21 | €67,385 | €85,851 | +€18,466 | +27.4% |
| Tangible fixed assets | 22/27 | €3,599 | €5,272 | +€1,673 | +46.5% |
| Furniture and vehicles | 24 | €3,599 | €5,272 | +€1,673 | +46.5% |
| Financial fixed assets | 28 | €250 | €2,806 | +€2,556 | +1,023% |
| Current assets | 29/58 | €1,433,110 | €2,025,512 | +€592,401 | +41.3% |
| Amounts receivable after more than one year | 29 | €69,246 | €15,000 | -€54,246 | -78.3% |
| Trade receivables | 290 | €69,246 | €15,000 | -€54,246 | -78.3% |
| Amounts receivable within one year | 40/41 | €1,282,576 | €1,748,863 | +€466,287 | +36.4% |
| Trade receivables | 40 | €1,280,767 | €1,727,293 | +€446,526 | +34.9% |
| Other amounts receivable | 41 | €1,809 | €21,570 | +€19,761 | +1,093% |
| Cash at bank and in hand | 54/58 | €32,682 | €223,506 | +€190,824 | +584% |
| Deferred charges and accrued income | 490/1 | €48,607 | €38,143 | -€10,464 | -21.5% |
| Total equity and liabilities | 10/49 | €1,504,345 | €2,119,441 | +€615,097 | +40.9% |
| Equity | 10/15 | €613,636 | €558,884 | -€54,752 | -8.9% |
| Contributions | 10/11 | €12,093 | €12,093 | = | 0.0% |
| Reserves | 13 | €601,543 | €546,790 | -€54,752 | -9.1% |
| Non-distributable reserves | 130/1 | €1,209 | €1,209 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,209 | €1,209 | = | 0.0% |
| Distributable reserves | 133 | €600,333 | €545,581 | -€54,752 | -9.1% |
| Amounts payable | 17/49 | €890,709 | €1,560,558 | +€669,849 | +75.2% |
| Amounts payable within one year | 42/48 | €890,709 | €1,555,284 | +€664,575 | +74.6% |
| Current portion of amounts payable after more than one year | 42 | €215,000 | - | -€215,000 | |
| Financial debts | 43 | €3,785 | €217,478 | +€213,693 | +5,646% |
| Credit institutions | 430/8 | €3,785 | €2,478 | -€1,307 | -34.5% |
| Other loans | 439 | - | €215,000 | +€215,000 | |
| Trade debts | 44 | €389,069 | €442,423 | +€53,354 | +13.7% |
| Suppliers | 440/4 | €389,069 | €442,423 | +€53,354 | +13.7% |
| Taxes, remuneration and social security | 45 | €203,136 | €392,827 | +€189,691 | +93.4% |
| Taxes | 450/3 | €190,872 | €352,931 | +€162,059 | +84.9% |
| Remuneration and social security | 454/9 | €12,264 | €39,896 | +€27,632 | +225% |
| Other amounts payable | 47/48 | €79,719 | €502,556 | +€422,837 | +530% |
| Accrued charges and deferred income | 492/3 | - | €5,274 | +€5,274 | |
| Remuneration, social security and pensions | 62 | €111,481 | €187,191 | +€75,710 | +67.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,356 | €22,387 | +€11,031 | +97.1% |
| Other operating charges | 640/8 | €1,080 | €60 | -€1,020 | -94.4% |
| Non-recurring operating charges | 66A | - | €2,589 | +€2,589 | |
| Gross operating margin | 9900 | €708,211 | €828,684 | +€120,474 | +17.0% |
| Operating profit (loss) | 9901 | €584,293 | €616,456 | +€32,163 | +5.5% |
| Financial income | 75/76B | €8,792 | €3,489 | -€5,303 | -60.3% |
| Recurring financial income | 75 | €8,792 | €3,489 | -€5,303 | -60.3% |
| Financial charges | 65/66B | €15,841 | €10,985 | -€4,856 | -30.7% |
| Recurring financial charges | 65 | €15,841 | €10,985 | -€4,856 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €577,244 | €608,960 | +€31,716 | +5.5% |
| Income taxes | 67/77 | €114,687 | €163,712 | +€49,026 | +42.7% |
| Profit (loss) for the period | 9904 | €462,557 | €445,248 | -€17,309 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €462,557 | €445,248 | -€17,309 | -3.7% |
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 28 October 2026 via checked.be.