I. 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.
I. VINCKIER
Largest movements
- Tangible fixed assets -€28,224
down €28,224 (-12.9%), from €218,762 to €190,538
of which Land and buildings: -€19,847
- Receivables within one year +€7,851
up €7,851 (+20.0%), from €39,164 to €47,015
of which Other amounts receivable: +€9,103
- Cash -€3,853
down €3,853 (-54.7%), from €7,044 to €3,191
mainly Debts after one year (-€17,122) and Receivables within one year (-€7,851)
- Debts after one year -€17,122
down €17,122 (-10.9%), from €156,857 to €139,735
of which Financial debts: -€14,872
- Other debts -€4,125
down €4,125 (-25.3%), from €16,306 to €12,181
- Tax, wage and social debts -€2,700
down €2,700 (-40.0%), from €6,750 to €4,050
- Other operating charges +€958
up €958 (+45.6%), from €2,100 to €3,058
- Financial income +€752
up €752 (+64.2%), from €1,171 to €1,923
- Financial charges -€461
down €461 (-6.7%), from €6,930 to €6,469
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 | €267,221 | €242,994 | -€24,227 | -9.1% |
| Fixed assets | 21/28 | €221,012 | €192,788 | -€28,224 | -12.8% |
| Tangible fixed assets | 22/27 | €218,762 | €190,538 | -€28,224 | -12.9% |
| Land and buildings | 22 | €205,664 | €185,817 | -€19,847 | -9.7% |
| Plant, machinery and equipment | 23 | €12,080 | €4,270 | -€7,810 | -64.7% |
| Furniture and vehicles | 24 | €1,018 | €451 | -€567 | -55.7% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €46,208 | €50,206 | +€3,998 | +8.7% |
| Amounts receivable within one year | 40/41 | €39,164 | €47,015 | +€7,851 | +20.0% |
| Trade receivables | 40 | €30,845 | €29,593 | -€1,252 | -4.1% |
| Other amounts receivable | 41 | €8,319 | €17,422 | +€9,103 | +109% |
| Cash at bank and in hand | 54/58 | €7,044 | €3,191 | -€3,853 | -54.7% |
| Total equity and liabilities | 10/49 | €267,221 | €242,994 | -€24,227 | -9.1% |
| Equity | 10/15 | €8,272 | €7,895 | -€377 | -4.6% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €41,738 | €40,674 | -€1,064 | -2.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €39,879 | €38,815 | -€1,064 | -2.7% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,466 | -€49,779 | +€687 | +1.4% |
| Provisions and deferred taxes | 16 | €61,216 | €60,668 | -€548 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €51,900 | €51,900 | = | 0.0% |
| Pensions and similar obligations | 160 | €51,900 | €51,900 | = | 0.0% |
| Deferred taxes | 168 | €9,316 | €8,768 | -€548 | -5.9% |
| Amounts payable | 17/49 | €197,733 | €174,431 | -€23,302 | -11.8% |
| Amounts payable after more than one year | 17 | €156,857 | €139,735 | -€17,122 | -10.9% |
| Financial debts | 170/4 | €154,607 | €139,735 | -€14,872 | -9.6% |
| Other amounts payable | 178/9 | €2,250 | €0 | -€2,250 | -100% |
| Amounts payable within one year | 42/48 | €40,876 | €34,696 | -€6,180 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €14,360 | €14,872 | +€512 | +3.6% |
| Trade debts | 44 | €3,460 | €3,594 | +€134 | +3.9% |
| Suppliers | 440/4 | €3,460 | €3,594 | +€134 | +3.9% |
| Taxes, remuneration and social security | 45 | €6,750 | €4,050 | -€2,700 | -40.0% |
| Taxes | 450/3 | €6,750 | €4,050 | -€2,700 | -40.0% |
| Other amounts payable | 47/48 | €16,306 | €12,181 | -€4,125 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,031 | €28,224 | +€193 | +0.7% |
| Other operating charges | 640/8 | €2,100 | €3,058 | +€958 | +45.6% |
| Gross operating margin | 9900 | €39,805 | €39,899 | +€94 | +0.2% |
| Operating profit (loss) | 9901 | €9,674 | €8,617 | -€1,057 | -10.9% |
| Financial income | 75/76B | €1,171 | €1,923 | +€752 | +64.2% |
| Recurring financial income | 75 | €1,171 | €1,923 | +€752 | +64.2% |
| Financial charges | 65/66B | €6,930 | €6,469 | -€461 | -6.7% |
| Recurring financial charges | 65 | €6,930 | €6,469 | -€461 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €3,915 | €4,072 | +€156 | +4.0% |
| Transfer from deferred taxes | 780 | €548 | €548 | = | 0.0% |
| Income taxes | 67/77 | €5,233 | €4,997 | -€237 | -4.5% |
| Profit (loss) for the period | 9904 | -€770 | -€377 | +€393 | +51.0% |
| Transfer from tax-exempt reserves | 789 | €1,064 | €1,064 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €294 | €687 | +€393 | +133% |
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 16 October 2026 via checked.be.