Etn. R. 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.
Etn. R. Vynckier
Largest movements
- Stocks and contracts -€559,759
down €559,759 (-88.9%), from €629,538 to €69,779
- Receivables within one year +€248,942
up €248,942 (+8.7%), from €2.9m to €3.1m
of which Other amounts receivable: +€221,363
- Reserves -€298,727
down €298,727 (-28.6%), from €1.0m to €746,601
of which Distributable reserves: -€298,727
- Current portion of long-term debt -€250,000
down €250,000 (-100%), from €250,000 to €0
- Profit (loss) carried forward +€221,344
up €221,344, from -€221,344 to €0
- Other debts +€66,722
up €66,722 (+2.5%), from €2.7m to €2.8m
- Gross operating margin -€104,544
down €104,544, from €78,926 to -€25,617
- Staff costs -€22,028
down €22,028 (-21.8%), from €100,840 to €78,812
- Financial income +€9,569
up €9,569 (+12.3%), from €78,068 to €87,637
- Other operating charges +€6,278
up €6,278 (+82.2%), from €7,634 to €13,912
- Financial charges -€2,596
down €2,596 (-5.7%), from €45,748 to €43,152
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 | €3,903,394 | €3,614,682 | -€288,712 | -7.4% |
| Fixed assets | 21/28 | €277,961 | €274,511 | -€3,450 | -1.2% |
| Tangible fixed assets | 22/27 | €3,699 | €249 | -€3,450 | -93.3% |
| Land and buildings | 22 | €3,150 | €0 | -€3,150 | -100% |
| Furniture and vehicles | 24 | €549 | €249 | -€300 | -54.6% |
| Financial fixed assets | 28 | €274,262 | €274,262 | = | 0.0% |
| Current assets | 29/58 | €3,625,433 | €3,340,171 | -€285,262 | -7.9% |
| Stocks and contracts in progress | 3 | €629,538 | €69,779 | -€559,759 | -88.9% |
| Stocks | 30/36 | €629,538 | €69,779 | -€559,759 | -88.9% |
| Amounts receivable within one year | 40/41 | €2,873,786 | €3,122,729 | +€248,942 | +8.7% |
| Trade receivables | 40 | €18,466 | €46,045 | +€27,579 | +149% |
| Other amounts receivable | 41 | €2,855,320 | €3,076,684 | +€221,363 | +7.8% |
| Cash at bank and in hand | 54/58 | €64,747 | €84,740 | +€19,993 | +30.9% |
| Deferred charges and accrued income | 490/1 | €57,362 | €62,923 | +€5,562 | +9.7% |
| Total equity and liabilities | 10/49 | €3,903,394 | €3,614,682 | -€288,712 | -7.4% |
| Equity | 10/15 | €898,385 | €821,001 | -€77,383 | -8.6% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Capital | 10 | €74,400 | €74,400 | = | 0.0% |
| Issued capital | 100 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €1,045,329 | €746,601 | -€298,727 | -28.6% |
| Non-distributable reserves | 130/1 | €7,440 | €7,440 | = | 0.0% |
| Legal reserve | 130 | €7,440 | €7,440 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,328 | €3,328 | = | 0.0% |
| Distributable reserves | 133 | €1,034,561 | €735,834 | -€298,727 | -28.9% |
| Profit (loss) carried forward | 14 | -€221,344 | €0 | +€221,344 | |
| Amounts payable | 17/49 | €3,005,009 | €2,793,681 | -€211,328 | -7.0% |
| Amounts payable within one year | 42/48 | €2,978,938 | €2,772,479 | -€206,459 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €0 | -€250,000 | -100% |
| Trade debts | 44 | €9,188 | €1,549 | -€7,638 | -83.1% |
| Suppliers | 440/4 | €9,188 | €1,549 | -€7,638 | -83.1% |
| Taxes, remuneration and social security | 45 | €26,498 | €10,955 | -€15,543 | -58.7% |
| Taxes | 450/3 | €4,377 | €10,955 | +€6,578 | +150% |
| Remuneration and social security | 454/9 | €22,121 | €0 | -€22,121 | -100% |
| Other amounts payable | 47/48 | €2,693,253 | €2,759,975 | +€66,722 | +2.5% |
| Accrued charges and deferred income | 492/3 | €26,071 | €21,202 | -€4,869 | -18.7% |
| Non-recurring operating income | 76A | - | €11,318 | +€11,318 | |
| Remuneration, social security and pensions | 62 | €100,840 | €78,812 | -€22,028 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,356 | €3,450 | +€1,094 | +46.4% |
| Other operating charges | 640/8 | €7,634 | €13,912 | +€6,278 | +82.2% |
| Gross operating margin | 9900 | €78,926 | -€25,617 | -€104,544 | |
| Operating profit (loss) | 9901 | -€31,903 | -€121,791 | -€89,888 | -282% |
| Financial income | 75/76B | €78,068 | €87,637 | +€9,569 | +12.3% |
| Recurring financial income | 75 | €78,068 | €87,637 | +€9,569 | +12.3% |
| Financial charges | 65/66B | €45,748 | €43,152 | -€2,596 | -5.7% |
| Recurring financial charges | 65 | €45,748 | €43,152 | -€2,596 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €417 | -€77,306 | -€77,723 | |
| Income taxes | 67/77 | - | €77 | +€77 | |
| Profit (loss) for the period | 9904 | €417 | -€77,383 | -€77,800 | |
| Profit (loss) for the period to be appropriated | 9905 | €417 | -€77,383 | -€77,800 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.