VINA: 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.
VINA
Largest movements
- Tangible fixed assets +€37,876
up €37,876 (+4.9%), from €774,777 to €812,652
of which Land and buildings: +€25,504
- Trade debts -€102,972
down €102,972 (-96.8%), from €106,399 to €3,427
- Other debts +€102,249
up €102,249 (+197.6%), from €51,735 to €153,984
- Reserves +€75,649
up €75,649 (+19.1%), from €397,089 to €472,738
of which Distributable reserves: +€75,649
- Debts after one year -€51,977
down €51,977 (-52.9%), from €98,238 to €46,261
of which Financial debts: -€51,965
- Tax, wage and social debts +€11,359
new in 2025: €11,359
- Gross operating margin +€46,757
up €46,757 (+36.8%), from €126,976 to €173,733
- Taxes +€13,747
up €13,747 (+60.8%), from €22,612 to €36,359
- Depreciation +€5,260
up €5,260 (+20.9%), from €25,130 to €30,390
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 | €790,731 | €827,587 | +€36,856 | +4.7% |
| Fixed assets | 21/28 | €774,777 | €812,652 | +€37,876 | +4.9% |
| Tangible fixed assets | 22/27 | €774,777 | €812,652 | +€37,876 | +4.9% |
| Land and buildings | 22 | €727,920 | €753,423 | +€25,504 | +3.5% |
| Other tangible fixed assets | 26 | €46,383 | €59,229 | +€12,846 | +27.7% |
| Assets under construction and advance payments | 27 | €474 | - | -€474 | |
| Current assets | 29/58 | €15,955 | €14,935 | -€1,020 | -6.4% |
| Amounts receivable within one year | 40/41 | €2,572 | €2,455 | -€117 | -4.5% |
| Other amounts receivable | 41 | €2,572 | €2,455 | -€117 | -4.5% |
| Current investments | 50/53 | €19 | €27 | +€8 | +41.6% |
| Cash at bank and in hand | 54/58 | €5,900 | €3,855 | -€2,045 | -34.7% |
| Deferred charges and accrued income | 490/1 | €7,464 | €8,597 | +€1,133 | +15.2% |
| Total equity and liabilities | 10/49 | €790,731 | €827,587 | +€36,856 | +4.7% |
| Equity | 10/15 | €459,089 | €534,738 | +€75,649 | +16.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €397,089 | €472,738 | +€75,649 | +19.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €390,889 | €466,538 | +€75,649 | +19.4% |
| Amounts payable | 17/49 | €331,642 | €292,849 | -€38,794 | -11.7% |
| Amounts payable after more than one year | 17 | €98,238 | €46,261 | -€51,977 | -52.9% |
| Financial debts | 170/4 | €77,236 | €25,272 | -€51,965 | -67.3% |
| Other amounts payable | 178/9 | €21,002 | €20,990 | -€12 | -0.1% |
| Amounts payable within one year | 42/48 | €233,405 | €245,735 | +€12,330 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €75,270 | €76,965 | +€1,694 | +2.3% |
| Trade debts | 44 | €106,399 | €3,427 | -€102,972 | -96.8% |
| Suppliers | 440/4 | €106,399 | €3,427 | -€102,972 | -96.8% |
| Taxes, remuneration and social security | 45 | - | €11,359 | +€11,359 | |
| Taxes | 450/3 | - | €11,359 | +€11,359 | |
| Other amounts payable | 47/48 | €51,735 | €153,984 | +€102,249 | +197.6% |
| Accrued charges and deferred income | 492/3 | - | €853 | +€853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,130 | €30,390 | +€5,260 | +20.9% |
| Other operating charges | 640/8 | €25,406 | €26,851 | +€1,445 | +5.7% |
| Gross operating margin | 9900 | €126,976 | €173,733 | +€46,757 | +36.8% |
| Operating profit (loss) | 9901 | €76,441 | €116,493 | +€40,052 | +52.4% |
| Financial income | 75/76B | €15 | €3 | -€12 | -77.2% |
| Recurring financial income | 75 | €15 | €3 | -€12 | -77.2% |
| Financial charges | 65/66B | €5,979 | €4,488 | -€1,491 | -24.9% |
| Recurring financial charges | 65 | €5,979 | €4,488 | -€1,491 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €70,477 | €112,008 | +€41,531 | +58.9% |
| Income taxes | 67/77 | €22,612 | €36,359 | +€13,747 | +60.8% |
| Profit (loss) for the period | 9904 | €47,865 | €75,649 | +€27,784 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,865 | €75,649 | +€27,784 | +58.0% |
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 7 October 2026 via checked.be.