Vicinity Partners: what changed
Two fiscal 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.
Vicinity Partners
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€39,815
up €39,815 (+355.6%), from €11,197 to €51,013
mainly Current investments (+€150,000) and Depreciation (+€13,159)
- Receivables within one year +€32,586
up €32,586 (+11.5%), from €283,530 to €316,116
of which Other amounts receivable: +€29,124
- Intangible fixed assets -€12,709
down €12,709 (-100.0%), from €12,711 to €2
- Financial fixed assets -€9,225
down €9,225 (-14.3%), from €64,721 to €55,496
- Profit (loss) carried forward -€101,718
down €101,718 (-44.6%), from €228,275 to €126,557
- Trade debts +€9,704
up €9,704 (+14.9%), from €65,294 to €74,998
- Gross operating margin -€108,379
down €108,379, from €80,307 to -€28,072
- Staff costs +€45,775
up €45,775 (+197.2%), from €23,215 to €68,990
- Taxes -€21,228
down €21,228, from €18,298 to -€2,930
- Other operating charges +€1,358
new in 2025: €1,358
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 | €525,084 | €429,083 | -€96,001 | -18.3% |
| Fixed assets | 21/28 | €78,701 | €56,317 | -€22,384 | -28.4% |
| Intangible fixed assets | 21 | €12,711 | €2 | -€12,709 | -100.0% |
| Tangible fixed assets | 22/27 | €1,269 | €819 | -€450 | -35.5% |
| Furniture and vehicles | 24 | €1,269 | €819 | -€450 | -35.5% |
| Financial fixed assets | 28 | €64,721 | €55,496 | -€9,225 | -14.3% |
| Current assets | 29/58 | €446,382 | €372,766 | -€73,617 | -16.5% |
| Amounts receivable within one year | 40/41 | €283,530 | €316,116 | +€32,586 | +11.5% |
| Trade receivables | 40 | €246,023 | €249,484 | +€3,461 | +1.4% |
| Other amounts receivable | 41 | €37,507 | €66,631 | +€29,124 | +77.7% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €11,197 | €51,013 | +€39,815 | +355.6% |
| Deferred charges and accrued income | 490/1 | €1,655 | €5,638 | +€3,982 | +240.6% |
| Total equity and liabilities | 10/49 | €525,084 | €429,083 | -€96,001 | -18.3% |
| Equity | 10/15 | €443,625 | €341,907 | -€101,718 | -22.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €153,850 | €153,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €147,350 | €147,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,275 | €126,557 | -€101,718 | -44.6% |
| Amounts payable | 17/49 | €81,459 | €87,176 | +€5,717 | +7.0% |
| Amounts payable within one year | 42/48 | €81,459 | €87,176 | +€5,717 | +7.0% |
| Trade debts | 44 | €65,294 | €74,998 | +€9,704 | +14.9% |
| Suppliers | 440/4 | €65,294 | €74,998 | +€9,704 | +14.9% |
| Taxes, remuneration and social security | 45 | €11,674 | €7,686 | -€3,988 | -34.2% |
| Taxes | 450/3 | €11,674 | - | -€11,674 | |
| Remuneration and social security | 454/9 | - | €7,686 | +€7,686 | |
| Other amounts payable | 47/48 | €4,492 | €4,492 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €23,215 | €68,990 | +€45,775 | +197.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,857 | €13,159 | -€697 | -5.0% |
| Other operating charges | 640/8 | - | €1,358 | +€1,358 | |
| Gross operating margin | 9900 | €80,307 | -€28,072 | -€108,379 | |
| Operating profit (loss) | 9901 | €43,236 | -€111,579 | -€154,815 | |
| Financial income | 75/76B | €9,828 | €9,057 | -€771 | -7.8% |
| Recurring financial income | 75 | €9,828 | €2,231 | -€7,597 | -77.3% |
| Non-recurring financial income | 76B | - | €6,826 | +€6,826 | |
| Financial charges | 65/66B | €1,938 | €2,125 | +€188 | +9.7% |
| Recurring financial charges | 65 | €1,938 | €2,125 | +€188 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €51,126 | -€104,648 | -€155,774 | |
| Income taxes | 67/77 | €18,298 | -€2,930 | -€21,228 | |
| Profit (loss) for the period | 9904 | €32,829 | -€101,718 | -€134,547 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,829 | -€101,718 | -€134,547 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.