Smederij Vinci: 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.
Smederij Vinci
Largest movements
- Receivables within one year +€18,984
up €18,984 (+313%), from €6,075 to €25,058
of which Trade receivables: +€10,720
- Cash -€14,396
down €14,396 (-57.1%), from €25,207 to €10,811
mainly Receivables within one year (-€18,984) and Current investments (-€13,433)
- Current investments +€13,433
new in 2025: €13,433
- Tangible fixed assets -€8,225
down €8,225 (-32.4%), from €25,388 to €17,163
of which Furniture and vehicles: -€7,525
- Deferred charges and accrued income +€944
up €944 (+176%), from €537 to €1,481
- Reserves +€14,183
up €14,183 (+38.8%), from €36,591 to €50,774
- Debts after one year -€3,660
down €3,660 (-37.4%), from €9,793 to €6,134
- Other debts -€2,752
down €2,752 (-67.9%), from €4,055 to €1,303
- Trade debts +€2,310
up €2,310 (+680%), from €340 to €2,650
- Gross operating margin -€72,636
down €72,636 (-70.6%), from €102,844 to €30,209
- Staff costs -€34,380
down €34,380 (-89.5%), from €38,430 to €4,049
- Taxes -€5,790
down €5,790 (-61.4%), from €9,435 to €3,645
- Depreciation -€5,776
down €5,776 (-46.5%), from €12,408 to €6,632
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 | €59,081 | €69,321 | +€10,240 | +17.3% |
| Fixed assets | 21/28 | €27,263 | €18,538 | -€8,725 | -32.0% |
| Intangible fixed assets | 21 | €1,875 | €1,375 | -€500 | -26.7% |
| Tangible fixed assets | 22/27 | €25,388 | €17,163 | -€8,225 | -32.4% |
| Plant, machinery and equipment | 23 | €2,625 | €1,925 | -€700 | -26.7% |
| Furniture and vehicles | 24 | €22,763 | €15,238 | -€7,525 | -33.1% |
| Current assets | 29/58 | €31,819 | €50,783 | +€18,964 | +59.6% |
| Amounts receivable within one year | 40/41 | €6,075 | €25,058 | +€18,984 | +313% |
| Trade receivables | 40 | €657 | €11,377 | +€10,720 | +1,632% |
| Other amounts receivable | 41 | €5,418 | €13,682 | +€8,264 | +153% |
| Current investments | 50/53 | - | €13,433 | +€13,433 | |
| Cash at bank and in hand | 54/58 | €25,207 | €10,811 | -€14,396 | -57.1% |
| Deferred charges and accrued income | 490/1 | €537 | €1,481 | +€944 | +176% |
| Total equity and liabilities | 10/49 | €59,081 | €69,321 | +€10,240 | +17.3% |
| Equity | 10/15 | €41,391 | €55,574 | +€14,183 | +34.3% |
| Contributions | 10/11 | €4,800 | €4,800 | = | 0.0% |
| Reserves | 13 | €36,591 | €50,774 | +€14,183 | +38.8% |
| Distributable reserves | 133 | €36,591 | €50,774 | +€14,183 | +38.8% |
| Amounts payable | 17/49 | €17,690 | €13,747 | -€3,943 | -22.3% |
| Amounts payable after more than one year | 17 | €9,793 | €6,134 | -€3,660 | -37.4% |
| Financial debts | 170/4 | €9,793 | €6,134 | -€3,660 | -37.4% |
| Amounts payable within one year | 42/48 | €7,897 | €7,613 | -€284 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €3,502 | €3,660 | +€158 | +4.5% |
| Trade debts | 44 | €340 | €2,650 | +€2,310 | +680% |
| Suppliers | 440/4 | €340 | €2,650 | +€2,310 | +680% |
| Other amounts payable | 47/48 | €4,055 | €1,303 | -€2,752 | -67.9% |
| Remuneration, social security and pensions | 62 | €38,430 | €4,049 | -€34,380 | -89.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,408 | €6,632 | -€5,776 | -46.5% |
| Other operating charges | 640/8 | €1,629 | €1,048 | -€581 | -35.7% |
| Non-recurring operating charges | 66A | €3,330 | €93 | -€3,238 | -97.2% |
| Gross operating margin | 9900 | €102,844 | €30,209 | -€72,636 | -70.6% |
| Operating profit (loss) | 9901 | €47,048 | €18,387 | -€28,661 | -60.9% |
| Financial income | 75/76B | €74 | €32 | -€42 | -56.5% |
| Recurring financial income | 75 | €74 | €32 | -€42 | -56.5% |
| Financial charges | 65/66B | €1,096 | €591 | -€505 | -46.1% |
| Recurring financial charges | 65 | €1,096 | €591 | -€505 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €46,026 | €17,828 | -€28,198 | -61.3% |
| Income taxes | 67/77 | €9,435 | €3,645 | -€5,790 | -61.4% |
| Profit (loss) for the period | 9904 | €36,591 | €14,183 | -€22,408 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,591 | €14,183 | -€22,408 | -61.2% |
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 30 October 2026 via checked.be.