MD VINS: 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.
MD VINS
Largest movements
- Cash +€56,915
up €56,915 (+31.8%), from €178,976 to €235,892
mainly Net result for the year (+€63,641) and Depreciation (+€34,706)
- Tangible fixed assets -€19,706
down €19,706 (-14.2%), from €139,219 to €119,513
of which Furniture and vehicles: -€10,925
- Stocks and contracts +€17,950
up €17,950 (+30.0%), from €59,783 to €77,733
- Receivables within one year +€13,565
up €13,565 (+16.0%), from €84,574 to €98,139
of which Trade receivables: +€13,934
- Deferred charges and accrued income -€5,348
down €5,348 (-94.1%), from €5,682 to €335
- Reserves +€63,641
up €63,641 (+90.2%), from €70,529 to €134,170
- Tax, wage and social debts +€18,125
up €18,125 (+35.5%), from €51,077 to €69,203
of which Taxes: +€19,102
- Other debts -€14,687
down €14,687 (-14.1%), from €103,880 to €89,193
- Debts after one year -€13,508
down €13,508 (-14.0%), from €96,394 to €82,886
- Trade debts +€11,514
up €11,514 (+11.4%), from €100,729 to €112,242
- Gross operating margin +€34,298
up €34,298 (+10.5%), from €328,098 to €362,396
- Staff costs +€26,229
up €26,229 (+14.0%), from €187,131 to €213,359
- Taxes +€11,384
up €11,384 (+81.1%), from €14,038 to €25,422
- Write-downs +€6,354
up €6,354 (+176%), from €3,608 to €9,962
- Financial charges +€4,166
up €4,166 (+38.7%), from €10,757 to €14,923
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 | €468,234 | €531,611 | +€63,377 | +13.5% |
| Fixed assets | 21/28 | €139,219 | €119,513 | -€19,706 | -14.2% |
| Tangible fixed assets | 22/27 | €139,219 | €119,513 | -€19,706 | -14.2% |
| Land and buildings | 22 | €65,213 | €58,868 | -€6,345 | -9.7% |
| Plant, machinery and equipment | 23 | €39,286 | €36,851 | -€2,436 | -6.2% |
| Furniture and vehicles | 24 | €34,720 | €23,795 | -€10,925 | -31.5% |
| Current assets | 29/58 | €329,015 | €412,098 | +€83,083 | +25.3% |
| Stocks and contracts in progress | 3 | €59,783 | €77,733 | +€17,950 | +30.0% |
| Stocks | 30/36 | €59,783 | €77,733 | +€17,950 | +30.0% |
| Amounts receivable within one year | 40/41 | €84,574 | €98,139 | +€13,565 | +16.0% |
| Trade receivables | 40 | €57,002 | €70,936 | +€13,934 | +24.4% |
| Other amounts receivable | 41 | €27,572 | €27,202 | -€369 | -1.3% |
| Cash at bank and in hand | 54/58 | €178,976 | €235,892 | +€56,915 | +31.8% |
| Deferred charges and accrued income | 490/1 | €5,682 | €335 | -€5,348 | -94.1% |
| Total equity and liabilities | 10/49 | €468,234 | €531,611 | +€63,377 | +13.5% |
| Equity | 10/15 | €89,129 | €152,770 | +€63,641 | +71.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,529 | €134,170 | +€63,641 | +90.2% |
| Distributable reserves | 133 | €70,529 | €134,170 | +€63,641 | +90.2% |
| Amounts payable | 17/49 | €379,106 | €378,841 | -€265 | -0.1% |
| Amounts payable after more than one year | 17 | €96,394 | €82,886 | -€13,508 | -14.0% |
| Financial debts | 170/4 | €96,394 | €82,886 | -€13,508 | -14.0% |
| Amounts payable within one year | 42/48 | €282,712 | €295,956 | +€13,243 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €17,691 | €15,180 | -€2,511 | -14.2% |
| Trade debts | 44 | €100,729 | €112,242 | +€11,514 | +11.4% |
| Suppliers | 440/4 | €100,729 | €112,242 | +€11,514 | +11.4% |
| Advances received on contracts in progress | 46 | €9,335 | €10,137 | +€802 | +8.6% |
| Taxes, remuneration and social security | 45 | €51,077 | €69,203 | +€18,125 | +35.5% |
| Taxes | 450/3 | €25,739 | €44,841 | +€19,102 | +74.2% |
| Remuneration and social security | 454/9 | €25,338 | €24,362 | -€976 | -3.9% |
| Other amounts payable | 47/48 | €103,880 | €89,193 | -€14,687 | -14.1% |
| Remuneration, social security and pensions | 62 | €187,131 | €213,359 | +€26,229 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,586 | €34,706 | +€3,120 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,608 | €9,962 | +€6,354 | +176% |
| Other operating charges | 640/8 | €1,995 | €824 | -€1,171 | -58.7% |
| Non-recurring operating charges | 66A | €7,488 | - | -€7,488 | |
| Gross operating margin | 9900 | €328,098 | €362,396 | +€34,298 | +10.5% |
| Operating profit (loss) | 9901 | €96,290 | €103,546 | +€7,255 | +7.5% |
| Financial income | 75/76B | €245 | €441 | +€196 | +79.8% |
| Recurring financial income | 75 | €245 | €441 | +€196 | +79.8% |
| Financial charges | 65/66B | €10,757 | €14,923 | +€4,166 | +38.7% |
| Recurring financial charges | 65 | €10,757 | €14,923 | +€4,166 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €85,779 | €89,064 | +€3,285 | +3.8% |
| Income taxes | 67/77 | €14,038 | €25,422 | +€11,384 | +81.1% |
| Profit (loss) for the period | 9904 | €71,740 | €63,641 | -€8,099 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,740 | €63,641 | -€8,099 | -11.3% |
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 17 October 2026 via checked.be.