VentureLab: 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.
VentureLab
Largest movements
- Tangible fixed assets +€401,091
up €401,091 (+36.1%), from €1.1m to €1.5m
of which Land and buildings: +€381,494
- Cash -€339,263
down €339,263 (-99.4%), from €341,458 to €2,196
mainly Investment in fixed assets (net) (-€445,015) and Net result for the year (-€141,402)
- Deferred charges and accrued income +€121,672
up €121,672 (+31.8%), from €383,220 to €504,892
- Receivables within one year -€80,657
down €80,657 (-56.8%), from €141,907 to €61,250
of which Trade receivables: -€64,731
- Receivables after one year +€29,573
up €29,573 (+43.9%), from €67,300 to €96,872
- Debts after one year +€261,571
up €261,571 (+31.6%), from €828,351 to €1.1m
- Contributions -€141,402
down €141,402, from €138,720 to -€2,682
- Accrued charges and deferred income -€134,895
down €134,895 (-15.8%), from €853,697 to €718,802
- Investment grants +€87,835
new in 2025: €87,835
- Debts within one year +€59,308
up €59,308 (+26.3%), from €225,113 to €284,421
of which Short-term financial debts: +€38,540
- Financial charges +€32,804
up €32,804 (+1,351%), from €2,428 to €35,231
- Depreciation +€22,571
up €22,571 (+106%), from €21,353 to €43,925
- Gross operating margin +€15,242
up €15,242 (+2.8%), from €543,572 to €558,814
- Other operating charges +€9,651
up €9,651 (+9.4%), from €102,844 to €112,495
- Staff costs +€9,061
up €9,061 (+1.8%), from €500,463 to €509,523
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 | €2,045,881 | €2,178,297 | +€132,416 | +6.5% |
| Fixed assets | 21/28 | €1,111,997 | €1,513,088 | +€401,091 | +36.1% |
| Tangible fixed assets | 22/27 | €1,111,997 | €1,513,088 | +€401,091 | +36.1% |
| Land and buildings | 22 | €1,105,205 | €1,486,699 | +€381,494 | +34.5% |
| Furniture and vehicles | 24 | €6,792 | €26,388 | +€19,597 | +289% |
| Current assets | 29/58 | €933,884 | €665,210 | -€268,675 | -28.8% |
| Amounts receivable after more than one year | 29 | €67,300 | €96,872 | +€29,573 | +43.9% |
| Trade receivables | 290 | €67,300 | €96,872 | +€29,573 | +43.9% |
| Amounts receivable within one year | 40/41 | €141,907 | €61,250 | -€80,657 | -56.8% |
| Trade receivables | 40 | €125,964 | €61,233 | -€64,731 | -51.4% |
| Other amounts receivable | 41 | €15,942 | €17 | -€15,926 | -99.9% |
| Cash at bank and in hand | 54/58 | €341,458 | €2,196 | -€339,263 | -99.4% |
| Deferred charges and accrued income | 490/1 | €383,220 | €504,892 | +€121,672 | +31.8% |
| Total equity and liabilities | 10/49 | €2,045,881 | €2,178,297 | +€132,416 | +6.5% |
| Equity | 10/15 | €138,720 | €85,153 | -€53,567 | -38.6% |
| Contributions | 10/11 | €138,720 | -€2,682 | -€141,402 | |
| Capital | 10 | €138,720 | -€2,682 | -€141,402 | |
| Investment grants | 15 | - | €87,835 | +€87,835 | |
| Amounts payable | 17/49 | €1,907,161 | €2,093,144 | +€185,984 | +9.8% |
| Amounts payable after more than one year | 17 | €828,351 | €1,089,922 | +€261,571 | +31.6% |
| Financial debts | 170/4 | €828,351 | €1,089,922 | +€261,571 | +31.6% |
| Amounts payable within one year | 42/48 | €225,113 | €284,421 | +€59,308 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €11,649 | €48,429 | +€36,779 | +316% |
| Financial debts | 43 | - | €38,540 | +€38,540 | |
| Credit institutions | 430/8 | - | €38,540 | +€38,540 | |
| Trade debts | 44 | €126,970 | €105,663 | -€21,308 | -16.8% |
| Suppliers | 440/4 | €126,970 | €105,663 | -€21,308 | -16.8% |
| Taxes, remuneration and social security | 45 | €83,224 | €84,370 | +€1,146 | +1.4% |
| Taxes | 450/3 | €19,627 | €27,028 | +€7,400 | +37.7% |
| Remuneration and social security | 454/9 | €63,596 | €57,342 | -€6,254 | -9.8% |
| Accrued charges and deferred income | 492/3 | €853,697 | €718,802 | -€134,895 | -15.8% |
| Remuneration, social security and pensions | 62 | €500,463 | €509,523 | +€9,061 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,353 | €43,925 | +€22,571 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,180 | €4,390 | +€2,210 | +101% |
| Other operating charges | 640/8 | €102,844 | €112,495 | +€9,651 | +9.4% |
| Gross operating margin | 9900 | €543,572 | €558,814 | +€15,242 | +2.8% |
| Operating profit (loss) | 9901 | -€83,268 | -€111,519 | -€28,251 | -33.9% |
| Financial income | 75/76B | €9,955 | €6,360 | -€3,594 | -36.1% |
| Recurring financial income | 75 | €9,955 | €6,360 | -€3,594 | -36.1% |
| Financial charges | 65/66B | €2,428 | €35,231 | +€32,804 | +1,351% |
| Recurring financial charges | 65 | €2,428 | €35,231 | +€32,804 | +1,351% |
| Profit (loss) for the period before taxes | 9903 | -€75,741 | -€140,391 | -€64,649 | -85.4% |
| Income taxes | 67/77 | - | €1,012 | +€1,012 | |
| Profit (loss) for the period | 9904 | -€75,741 | -€141,402 | -€65,661 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,741 | -€141,402 | -€65,661 | -86.7% |
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 30 October 2026 via checked.be.