Villanucci: 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.
Villanucci
Largest movements
- Tangible fixed assets +€30,834
up €30,834 (+37.6%), from €82,103 to €112,938
of which Furniture and vehicles: +€16,278
- Cash -€23,006
down €23,006 (-33.8%), from €68,087 to €45,081
mainly Investment in fixed assets (net) (-€81,357) and Trade debts (-€42,186)
- Receivables within one year -€19,859
down €19,859 (-23.6%), from €84,120 to €64,260
of which Other amounts receivable: -€28,309
- Deferred charges and accrued income -€13,577
down €13,577 (-95.9%), from €14,152 to €575
- Trade debts -€42,186
down €42,186 (-74.7%), from €56,494 to €14,308
- Profit (loss) carried forward +€15,860
up €15,860 (+15.5%), from €102,417 to €118,276
- Debts after one year +€10,465
up €10,465 (+62.2%), from €16,821 to €27,286
of which Financial debts: +€10,490
- Reserves -€9,857
down €9,857 (-27.5%), from €35,901 to €26,044
of which Distributable reserves: -€9,857
- Current portion of long-term debt -€5,981
down €5,981 (-27.1%), from €22,102 to €16,122
- Staff costs +€65,105
up €65,105 (+26.4%), from €246,736 to €311,842
- Gross operating margin +€55,607
up €55,607 (+17.5%), from €317,838 to €373,445
- Depreciation +€3,881
up €3,881 (+8.3%), from €46,642 to €50,522
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 | €257,778 | €230,314 | -€27,465 | -10.7% |
| Fixed assets | 21/28 | €82,703 | €113,538 | +€30,834 | +37.3% |
| Tangible fixed assets | 22/27 | €82,103 | €112,938 | +€30,834 | +37.6% |
| Plant, machinery and equipment | 23 | €36,762 | €51,319 | +€14,556 | +39.6% |
| Furniture and vehicles | 24 | €45,341 | €61,619 | +€16,278 | +35.9% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €175,075 | €116,776 | -€58,299 | -33.3% |
| Stocks and contracts in progress | 3 | €8,717 | €6,860 | -€1,857 | -21.3% |
| Stocks | 30/36 | €8,717 | €6,860 | -€1,857 | -21.3% |
| Amounts receivable within one year | 40/41 | €84,120 | €64,260 | -€19,859 | -23.6% |
| Trade receivables | 40 | €24,618 | €33,068 | +€8,450 | +34.3% |
| Other amounts receivable | 41 | €59,502 | €31,193 | -€28,309 | -47.6% |
| Cash at bank and in hand | 54/58 | €68,087 | €45,081 | -€23,006 | -33.8% |
| Deferred charges and accrued income | 490/1 | €14,152 | €575 | -€13,577 | -95.9% |
| Total equity and liabilities | 10/49 | €257,778 | €230,314 | -€27,465 | -10.7% |
| Equity | 10/15 | €158,769 | €164,771 | +€6,003 | +3.8% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €35,901 | €26,044 | -€9,857 | -27.5% |
| Tax-exempt reserves | 132 | €26,044 | €26,044 | = | 0.0% |
| Distributable reserves | 133 | €9,857 | - | -€9,857 | |
| Profit (loss) carried forward | 14 | €102,417 | €118,276 | +€15,860 | +15.5% |
| Amounts payable | 17/49 | €99,010 | €65,542 | -€33,468 | -33.8% |
| Amounts payable after more than one year | 17 | €16,821 | €27,286 | +€10,465 | +62.2% |
| Financial debts | 170/4 | €16,796 | €27,286 | +€10,490 | +62.5% |
| Other amounts payable | 178/9 | €25 | - | -€25 | |
| Amounts payable within one year | 42/48 | €82,083 | €38,256 | -€43,827 | -53.4% |
| Current portion of amounts payable after more than one year | 42 | €22,102 | €16,122 | -€5,981 | -27.1% |
| Trade debts | 44 | €56,494 | €14,308 | -€42,186 | -74.7% |
| Suppliers | 440/4 | €56,494 | €14,308 | -€42,186 | -74.7% |
| Taxes, remuneration and social security | 45 | €3,487 | €7,827 | +€4,340 | +124% |
| Taxes | 450/3 | €3,487 | €7,827 | +€4,340 | +124% |
| Accrued charges and deferred income | 492/3 | €106 | - | -€106 | |
| Remuneration, social security and pensions | 62 | €246,736 | €311,842 | +€65,105 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,642 | €50,522 | +€3,881 | +8.3% |
| Other operating charges | 640/8 | €1,947 | €2,076 | +€128 | +6.6% |
| Gross operating margin | 9900 | €317,838 | €373,445 | +€55,607 | +17.5% |
| Operating profit (loss) | 9901 | €22,513 | €9,006 | -€13,507 | -60.0% |
| Financial income | 75/76B | - | €165 | +€165 | |
| Recurring financial income | 75 | - | €165 | +€165 | |
| Financial charges | 65/66B | €2,364 | €2,844 | +€480 | +20.3% |
| Recurring financial charges | 65 | €2,364 | €2,844 | +€480 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €20,149 | €6,327 | -€13,822 | -68.6% |
| Income taxes | 67/77 | €2,500 | €324 | -€2,176 | -87.0% |
| Profit (loss) for the period | 9904 | €17,649 | €6,003 | -€11,646 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,649 | €6,003 | -€11,646 | -66.0% |
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.