Anthony Vinckier: 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.
Anthony Vinckier
Largest movements
- Current investments +€75,000
up €75,000 (+23.1%), from €325,000 to €400,000
- Cash +€61,343
up €61,343 (+134%), from €45,925 to €107,268
mainly Net result for the year (+€151,649) and Tax, wage and social debts (+€22,720)
- Tangible fixed assets +€33,698
up €33,698 (+5,639%), from €598 to €34,295
- Reserves +€151,649
up €151,649 (+49.9%), from €304,169 to €455,818
- Tax, wage and social debts +€22,720
up €22,720 (+43.4%), from €52,409 to €75,129
- Gross operating margin +€72,650
up €72,650 (+52.3%), from €138,795 to €211,445
- Taxes +€23,807
up €23,807 (+59.1%), from €40,276 to €64,083
- Depreciation -€8,643
down €8,643 (-93.8%), from €9,217 to €573
- Financial income -€5,449
down €5,449 (-50.1%), from €10,877 to €5,428
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 | €371,591 | €545,947 | +€174,356 | +46.9% |
| Fixed assets | 21/28 | €598 | €34,295 | +€33,698 | +5,639% |
| Tangible fixed assets | 22/27 | €598 | €34,295 | +€33,698 | +5,639% |
| Furniture and vehicles | 24 | €598 | €34,295 | +€33,698 | +5,639% |
| Current assets | 29/58 | €370,994 | €511,652 | +€140,658 | +37.9% |
| Amounts receivable within one year | 40/41 | €69 | €3,304 | +€3,235 | +4,720% |
| Other amounts receivable | 41 | €69 | €3,304 | +€3,235 | +4,720% |
| Current investments | 50/53 | €325,000 | €400,000 | +€75,000 | +23.1% |
| Cash at bank and in hand | 54/58 | €45,925 | €107,268 | +€61,343 | +134% |
| Deferred charges and accrued income | 490/1 | - | €1,080 | +€1,080 | |
| Total equity and liabilities | 10/49 | €371,591 | €545,947 | +€174,356 | +46.9% |
| Equity | 10/15 | €319,169 | €470,818 | +€151,649 | +47.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €304,169 | €455,818 | +€151,649 | +49.9% |
| Distributable reserves | 133 | €304,169 | €455,818 | +€151,649 | +49.9% |
| Amounts payable | 17/49 | €52,422 | €75,129 | +€22,707 | +43.3% |
| Amounts payable within one year | 42/48 | €52,422 | €75,129 | +€22,707 | +43.3% |
| Trade debts | 44 | €13 | €0 | -€13 | -100% |
| Suppliers | 440/4 | €13 | €0 | -€13 | -100% |
| Taxes, remuneration and social security | 45 | €52,409 | €75,129 | +€22,720 | +43.4% |
| Taxes | 450/3 | €52,409 | €75,129 | +€22,720 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,217 | €573 | -€8,643 | -93.8% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €138,795 | €211,445 | +€72,650 | +52.3% |
| Operating profit (loss) | 9901 | €129,066 | €210,344 | +€81,279 | +63.0% |
| Financial income | 75/76B | €10,877 | €5,428 | -€5,449 | -50.1% |
| Recurring financial income | 75 | €10,877 | €5,428 | -€5,449 | -50.1% |
| Financial charges | 65/66B | €40 | €41 | +€1 | +2.7% |
| Recurring financial charges | 65 | €40 | €41 | +€1 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €139,904 | €215,732 | +€75,828 | +54.2% |
| Income taxes | 67/77 | €40,276 | €64,083 | +€23,807 | +59.1% |
| Profit (loss) for the period | 9904 | €99,628 | €151,649 | +€52,021 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €99,628 | €151,649 | +€52,021 | +52.2% |
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 15 October 2026 via checked.be.