DE VINCK: what changed
Two fiscal 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.
DE VINCK
Largest movements
- Stocks and contracts +€64,955
up €64,955 (+15.8%), from €411,611 to €476,566
- Receivables within one year -€30,349
down €30,349 (-65.4%), from €46,419 to €16,070
of which Trade receivables: -€15,669
- Cash +€9,521
up €9,521 (+10.2%), from €92,899 to €102,420
mainly Net result for the year (+€82,568) and Depreciation (+€46,865)
- Profit (loss) carried forward +€82,568
up €82,568, from -€78,976 to €3,591
- Debts after one year -€31,908
down €31,908 (-5.6%), from €569,355 to €537,448
of which Financial debts: -€31,908
- Trade debts -€16,080
down €16,080 (-65.3%), from €24,607 to €8,527
- Gross operating margin +€115,387
up €115,387 (+380.8%), from €30,304 to €145,692
- Depreciation +€28,826
up €28,826 (+159.8%), from €18,039 to €46,865
- Financial charges +€10,533
up €10,533 (+258.7%), from €4,071 to €14,604
- Other operating charges -€6,394
down €6,394 (-85.5%), from €7,479 to €1,085
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.
Cash bridge derived
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 | €899,186 | €935,434 | +€36,248 | +4.0% |
| Fixed assets | 21/28 | €345,470 | €337,515 | -€7,955 | -2.3% |
| Tangible fixed assets | 22/27 | €345,470 | €337,515 | -€7,955 | -2.3% |
| Land and buildings | 22 | €340,199 | €328,310 | -€11,889 | -3.5% |
| Plant, machinery and equipment | 23 | €5,271 | €9,205 | +€3,934 | +74.6% |
| Current assets | 29/58 | €553,716 | €597,919 | +€44,203 | +8.0% |
| Stocks and contracts in progress | 3 | €411,611 | €476,566 | +€64,955 | +15.8% |
| Stocks | 30/36 | €411,611 | €476,566 | +€64,955 | +15.8% |
| Amounts receivable within one year | 40/41 | €46,419 | €16,070 | -€30,349 | -65.4% |
| Trade receivables | 40 | €19,535 | €3,866 | -€15,669 | -80.2% |
| Other amounts receivable | 41 | €26,884 | €12,203 | -€14,680 | -54.6% |
| Cash at bank and in hand | 54/58 | €92,899 | €102,420 | +€9,521 | +10.2% |
| Deferred charges and accrued income | 490/1 | €2,787 | €2,864 | +€77 | +2.8% |
| Total equity and liabilities | 10/49 | €899,186 | €935,434 | +€36,248 | +4.0% |
| Equity | 10/15 | €251,024 | €333,591 | +€82,568 | +32.9% |
| Contributions | 10/11 | €330,000 | €330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,976 | €3,591 | +€82,568 | |
| Amounts payable | 17/49 | €648,162 | €601,843 | -€46,319 | -7.1% |
| Amounts payable after more than one year | 17 | €569,355 | €537,448 | -€31,908 | -5.6% |
| Financial debts | 170/4 | €339,355 | €307,448 | -€31,908 | -9.4% |
| Other amounts payable | 178/9 | €230,000 | €230,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,807 | €64,395 | -€14,412 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €30,645 | €31,908 | +€1,263 | +4.1% |
| Trade debts | 44 | €24,607 | €8,527 | -€16,080 | -65.3% |
| Suppliers | 440/4 | €24,607 | €8,527 | -€16,080 | -65.3% |
| Taxes, remuneration and social security | 45 | - | €405 | +€405 | |
| Taxes | 450/3 | - | €405 | +€405 | |
| Other amounts payable | 47/48 | €23,555 | €23,555 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,039 | €46,865 | +€28,826 | +159.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €570 | +€570 | |
| Other operating charges | 640/8 | €7,479 | €1,085 | -€6,394 | -85.5% |
| Gross operating margin | 9900 | €30,304 | €145,692 | +€115,387 | +380.8% |
| Operating profit (loss) | 9901 | €4,786 | €97,171 | +€92,385 | +1930.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €4,071 | €14,604 | +€10,533 | +258.7% |
| Recurring financial charges | 65 | €4,071 | €14,604 | +€10,533 | +258.7% |
| Profit (loss) for the period before taxes | 9903 | €715 | €82,568 | +€81,853 | +11456.0% |
| Profit (loss) for the period | 9904 | €715 | €82,568 | +€81,853 | +11456.0% |
| Profit (loss) for the period to be appropriated | 9905 | €715 | €82,568 | +€81,853 | +11456.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.