M - VINH: 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.
M - VINH
Largest movements
- Tangible fixed assets -€6,777
down €6,777 (-55.2%), from €12,270 to €5,493
- Receivables within one year -€1,377
down €1,377 (-100.0%), from €1,377 to €0
- Cash -€930
down €930 (-47.5%), from €1,959 to €1,029
mainly Net result for the year (-€8,753) and Other debts (-€2,331)
- Deferred charges and accrued income +€543
new in 2025: €543
- Profit (loss) carried forward -€8,753
down €8,753 (-71.9%), from -€12,179 to -€20,932
- Other debts -€2,331
down €2,331 (-41.9%), from €5,564 to €3,233
- Tax, wage and social debts +€2,148
up €2,148 (+1539.8%), from €140 to €2,288
of which Remuneration and social security: +€2,007
- Trade debts +€423
up €423 (+427.4%), from €99 to €521
- Gross operating margin -€3,188
down €3,188, from €2,240 to -€947
- Depreciation -€327
down €327 (-4.6%), from €7,104 to €6,777
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 | €15,605 | €7,065 | -€8,540 | -54.7% |
| Fixed assets | 21/28 | €12,270 | €5,493 | -€6,777 | -55.2% |
| Tangible fixed assets | 22/27 | €12,270 | €5,493 | -€6,777 | -55.2% |
| Other tangible fixed assets | 26 | €12,270 | €5,493 | -€6,777 | -55.2% |
| Current assets | 29/58 | €3,336 | €1,572 | -€1,764 | -52.9% |
| Amounts receivable within one year | 40/41 | €1,377 | €0 | -€1,377 | -100.0% |
| Other amounts receivable | 41 | €1,377 | €0 | -€1,377 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,959 | €1,029 | -€930 | -47.5% |
| Deferred charges and accrued income | 490/1 | - | €543 | +€543 | |
| Total equity and liabilities | 10/49 | €15,605 | €7,065 | -€8,540 | -54.7% |
| Equity | 10/15 | €9,776 | €1,023 | -€8,753 | -89.5% |
| Contributions | 10/11 | €21,955 | €21,955 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,179 | -€20,932 | -€8,753 | -71.9% |
| Amounts payable | 17/49 | €5,830 | €6,042 | +€212 | +3.6% |
| Amounts payable within one year | 42/48 | €5,803 | €6,042 | +€240 | +4.1% |
| Trade debts | 44 | €99 | €521 | +€423 | +427.4% |
| Suppliers | 440/4 | €99 | €521 | +€423 | +427.4% |
| Taxes, remuneration and social security | 45 | €140 | €2,288 | +€2,148 | +1539.8% |
| Taxes | 450/3 | €140 | €280 | +€141 | +101.0% |
| Remuneration and social security | 454/9 | €0 | €2,007 | +€2,007 | |
| Other amounts payable | 47/48 | €5,564 | €3,233 | -€2,331 | -41.9% |
| Accrued charges and deferred income | 492/3 | €27 | €0 | -€27 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,104 | €6,777 | -€327 | -4.6% |
| Other operating charges | 640/8 | €654 | €656 | +€2 | +0.3% |
| Gross operating margin | 9900 | €2,240 | -€947 | -€3,188 | |
| Operating profit (loss) | 9901 | -€5,517 | -€8,380 | -€2,863 | -51.9% |
| Financial income | 75/76B | €0 | €18 | +€18 | +181900.0% |
| Recurring financial income | 75 | €0 | €18 | +€18 | +181900.0% |
| Financial charges | 65/66B | €235 | €250 | +€15 | +6.4% |
| Recurring financial charges | 65 | €235 | €250 | +€15 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,752 | -€8,612 | -€2,860 | -49.7% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€5,892 | -€8,753 | -€2,861 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,892 | -€8,753 | -€2,861 | -48.6% |
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 12 October 2026 via checked.be.