VESUVIO D'ORO: 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.
VESUVIO D'ORO
Largest movements
- Receivables within one year +€38,745
up €38,745 (+2,268%), from €1,709 to €40,453
of which Trade receivables: +€38,412
- Cash +€21,095
up €21,095 (+376%), from €5,613 to €26,708
mainly Trade debts (+€21,287) and Net result for the year (+€19,754)
- Tangible fixed assets +€3,641
up €3,641 (+4.6%), from €79,545 to €83,186
of which Plant, machinery and equipment: +€16,752
- Stocks and contracts +€2,852
up €2,852 (+9.4%), from €30,352 to €33,205
- Trade debts +€21,287
up €21,287 (+113%), from €18,874 to €40,160
- Profit (loss) carried forward +€19,754
up €19,754 (+60.3%), from -€32,761 to -€13,007
- Other debts +€17,498
up €17,498 (+1,348%), from €1,298 to €18,796
- Tax, wage and social debts +€10,978
up €10,978 (+142%), from €7,725 to €18,704
of which Taxes: +€7,366
- Debts after one year -€6,412
down €6,412 (-7.9%), from €81,121 to €74,708
- Gross operating margin +€88,371
up €88,371 (+137%), from €64,511 to €152,881
- Staff costs +€33,298
up €33,298 (+44.3%), from €75,226 to €108,524
- Financial charges +€3,237
up €3,237 (+93.4%), from €3,465 to €6,702
- Depreciation +€2,523
up €2,523 (+17.4%), from €14,537 to €17,060
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 | €122,221 | €189,273 | +€67,052 | +54.9% |
| Formation expenses | 20 | €1,403 | €701 | -€701 | -50.0% |
| Fixed assets | 21/28 | €83,145 | €86,786 | +€3,641 | +4.4% |
| Tangible fixed assets | 22/27 | €79,545 | €83,186 | +€3,641 | +4.6% |
| Plant, machinery and equipment | 23 | €10,727 | €27,479 | +€16,752 | +156% |
| Furniture and vehicles | 24 | €420 | €210 | -€210 | -50.0% |
| Other tangible fixed assets | 26 | €68,398 | €55,497 | -€12,901 | -18.9% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €37,674 | €101,786 | +€64,112 | +170% |
| Stocks and contracts in progress | 3 | €30,352 | €33,205 | +€2,852 | +9.4% |
| Stocks | 30/36 | €30,352 | €33,205 | +€2,852 | +9.4% |
| Amounts receivable within one year | 40/41 | €1,709 | €40,453 | +€38,745 | +2,268% |
| Trade receivables | 40 | - | €38,412 | +€38,412 | |
| Other amounts receivable | 41 | €1,709 | €2,042 | +€333 | +19.5% |
| Cash at bank and in hand | 54/58 | €5,613 | €26,708 | +€21,095 | +376% |
| Deferred charges and accrued income | 490/1 | - | €1,420 | +€1,420 | |
| Total equity and liabilities | 10/49 | €122,221 | €189,273 | +€67,052 | +54.9% |
| Equity | 10/15 | -€8,761 | €10,993 | +€19,754 | |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,761 | -€13,007 | +€19,754 | +60.3% |
| Amounts payable | 17/49 | €130,983 | €178,280 | +€47,298 | +36.1% |
| Amounts payable after more than one year | 17 | €81,121 | €74,708 | -€6,412 | -7.9% |
| Financial debts | 170/4 | €81,121 | €74,708 | -€6,412 | -7.9% |
| Amounts payable within one year | 42/48 | €49,862 | €103,572 | +€53,710 | +108% |
| Current portion of amounts payable after more than one year | 42 | €21,965 | €25,912 | +€3,947 | +18.0% |
| Trade debts | 44 | €18,874 | €40,160 | +€21,287 | +113% |
| Suppliers | 440/4 | €18,874 | €40,160 | +€21,287 | +113% |
| Taxes, remuneration and social security | 45 | €7,725 | €18,704 | +€10,978 | +142% |
| Taxes | 450/3 | €1,536 | €8,902 | +€7,366 | +479% |
| Remuneration and social security | 454/9 | €6,189 | €9,801 | +€3,612 | +58.4% |
| Other amounts payable | 47/48 | €1,298 | €18,796 | +€17,498 | +1,348% |
| Remuneration, social security and pensions | 62 | €75,226 | €108,524 | +€33,298 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,537 | €17,060 | +€2,523 | +17.4% |
| Other operating charges | 640/8 | €923 | €785 | -€138 | -14.9% |
| Gross operating margin | 9900 | €64,511 | €152,881 | +€88,371 | +137% |
| Operating profit (loss) | 9901 | -€26,175 | €26,512 | +€52,687 | |
| Financial income | 75/76B | €1 | €112 | +€111 | +12,930% |
| Recurring financial income | 75 | €1 | €112 | +€111 | +12,930% |
| Financial charges | 65/66B | €3,465 | €6,702 | +€3,237 | +93.4% |
| Recurring financial charges | 65 | €3,465 | €6,702 | +€3,237 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,639 | €19,922 | +€49,561 | |
| Income taxes | 67/77 | €139 | €168 | +€29 | +20.6% |
| Profit (loss) for the period | 9904 | -€29,778 | €19,754 | +€49,533 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,778 | €19,754 | +€49,533 |
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 29 October 2026 via checked.be.