BUREAU VYNCKIER: 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.
What changed
BUREAU VYNCKIER
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,055
2024 · €31,482+€9,573
Equity
€186,122
2024 · €145,067+€41,055
Cash
€4,588
2024 · €9,102-€4,514
Balance sheet total
€632,608
2024 · €561,862+€70,746
Largest movements
Assets
- Financial fixed assets +€87,500
up €87,500 (+34.0%), from €257,691 to €345,191
- Tangible fixed assets -€8,846
down €8,846 (-3.5%), from €254,221 to €245,374
of which Land and buildings: -€7,494
Equity and liabilities
- Profit (loss) carried forward +€41,055
up €41,055 (+119%), from €34,607 to €75,662
- Debts after one year +€30,809
up €30,809 (+10.7%), from €286,893 to €317,702
- Current portion of long-term debt -€16,050
down €16,050 (-27.8%), from €57,833 to €41,783
- Short-term financial debts +€15,000
new in 2025: €15,000
- Other debts -€11,787
down €11,787 (-21.6%), from €54,627 to €42,839
Income statement
- Gross operating margin +€17,022
up €17,022 (+23.1%), from €73,680 to €90,703
- Taxes +€5,883
up €5,883 (+52.6%), from €11,180 to €17,063
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.
Result 2024
€31,482
Gross operating margin
+€17,022
Depreciation
-€663
Other operating charges
-€408
Financial income
-€0
Financial charges
-€495
Taxes
-€5,883
Result 2025
€41,055
raises the resultlowers the result
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.
From operations
+€54,104
Investment
-€88,376
Financing
+€29,759
Cash 2024
€9,102
From operations (derived)
+€54,104
Net result for the year
+€41,055
Depreciation
+€12,972
Receivables within one year
+€1,010
Deferred charges and accrued income
-€866
Trade debts
+€4,520
Tax, wage and social debts
+€5,159
Other debts
-€11,787
Accrued charges and deferred income
+€2,041
Investment (derived)
-€88,376
Investment in fixed assets (net)
-€88,376
Financing
+€29,759
Debts after one year
+€30,809
Current portion of long-term debt
-€16,050
Short-term financial debts
+€15,000
Cash 2025
€4,588
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €561,862 | €632,608 | +€70,746 | +12.6% |
| Fixed assets | 21/28 | €524,912 | €600,316 | +€75,404 | +14.4% |
| Intangible fixed assets | 21 | €13,000 | €9,750 | -€3,250 | -25.0% |
| Tangible fixed assets | 22/27 | €254,221 | €245,374 | -€8,846 | -3.5% |
| Land and buildings | 22 | €243,642 | €236,147 | -€7,494 | -3.1% |
| Furniture and vehicles | 24 | €1,677 | €1,806 | +€130 | +7.7% |
| Other tangible fixed assets | 26 | €8,902 | €7,421 | -€1,482 | -16.6% |
| Financial fixed assets | 28 | €257,691 | €345,191 | +€87,500 | +34.0% |
| Current assets | 29/58 | €36,950 | €32,292 | -€4,658 | -12.6% |
| Amounts receivable within one year | 40/41 | €27,283 | €26,273 | -€1,010 | -3.7% |
| Trade receivables | 40 | €13,137 | €23,284 | +€10,147 | +77.2% |
| Other amounts receivable | 41 | €14,146 | €2,990 | -€11,156 | -78.9% |
| Cash at bank and in hand | 54/58 | €9,102 | €4,588 | -€4,514 | -49.6% |
| Deferred charges and accrued income | 490/1 | €565 | €1,431 | +€866 | +153% |
| Total equity and liabilities | 10/49 | €561,862 | €632,608 | +€70,746 | +12.6% |
| Equity | 10/15 | €145,067 | €186,122 | +€41,055 | +28.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,860 | €91,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,607 | €75,662 | +€41,055 | +119% |
| Amounts payable | 17/49 | €416,795 | €446,486 | +€29,691 | +7.1% |
| Amounts payable after more than one year | 17 | €286,893 | €317,702 | +€30,809 | +10.7% |
| Financial debts | 170/4 | €286,893 | €317,702 | +€30,809 | +10.7% |
| Amounts payable within one year | 42/48 | €124,572 | €121,414 | -€3,158 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €57,833 | €41,783 | -€16,050 | -27.8% |
| Financial debts | 43 | - | €15,000 | +€15,000 | |
| Other loans | 439 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €4,020 | €8,540 | +€4,520 | +112% |
| Suppliers | 440/4 | €4,020 | €8,540 | +€4,520 | +112% |
| Taxes, remuneration and social security | 45 | €8,092 | €13,251 | +€5,159 | +63.8% |
| Taxes | 450/3 | €8,092 | €13,251 | +€5,159 | +63.8% |
| Other amounts payable | 47/48 | €54,627 | €42,839 | -€11,787 | -21.6% |
| Accrued charges and deferred income | 492/3 | €5,330 | €7,371 | +€2,041 | +38.3% |
| Non-recurring operating income | 76A | - | €37,500 | +€37,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,309 | €12,972 | +€663 | +5.4% |
| Other operating charges | 640/8 | €3,296 | €3,704 | +€408 | +12.4% |
| Gross operating margin | 9900 | €73,680 | €90,703 | +€17,022 | +23.1% |
| Operating profit (loss) | 9901 | €58,075 | €74,026 | +€15,951 | +27.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €15,413 | €15,909 | +€495 | +3.2% |
| Recurring financial charges | 65 | €15,413 | €15,909 | +€495 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €42,662 | €58,118 | +€15,456 | +36.2% |
| Income taxes | 67/77 | €11,180 | €17,063 | +€5,883 | +52.6% |
| Profit (loss) for the period | 9904 | €31,482 | €41,055 | +€9,573 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,482 | €41,055 | +€9,573 | +30.4% |
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 23 October 2026 via checked.be.