VINADIS: 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.
VINADIS
Largest movements
- Tangible fixed assets -€39,068
down €39,068 (-26.2%), from €149,183 to €110,115
- Current investments +€10,522
new in 2025: €10,522
- Receivables within one year -€5,146
down €5,146 (-87.5%), from €5,878 to €732
of which Trade receivables: -€4,551
- Cash -€4,335
down €4,335 (-97.5%), from €4,446 to €111
mainly Net result for the year (-€81,855) and Current investments (-€10,522)
- Stocks and contracts +€4,090
up €4,090 (+4.5%), from €90,810 to €94,900
- Profit (loss) carried forward -€81,855
down €81,855 (-24.0%), from -€341,143 to -€422,999
- Debts after one year +€45,000
up €45,000 (+11.8%), from €380,900 to €425,900
- Trade debts +€5,197
up €5,197 (+268%), from €1,939 to €7,136
- Gross operating margin +€53,092
up €53,092 (+59.2%), from -€89,747 to -€36,655
- Depreciation -€3,920
down €3,920 (-9.1%), from €42,988 to €39,068
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 | €253,767 | €223,157 | -€30,609 | -12.1% |
| Fixed assets | 21/28 | €152,633 | €113,315 | -€39,318 | -25.8% |
| Tangible fixed assets | 22/27 | €149,183 | €110,115 | -€39,068 | -26.2% |
| Land and buildings | 22 | €5,293 | €4,528 | -€765 | -14.5% |
| Plant, machinery and equipment | 23 | €68,395 | €49,033 | -€19,363 | -28.3% |
| Furniture and vehicles | 24 | €7,166 | €1,613 | -€5,553 | -77.5% |
| Other tangible fixed assets | 26 | €68,328 | €54,941 | -€13,387 | -19.6% |
| Financial fixed assets | 28 | €3,450 | €3,200 | -€250 | -7.2% |
| Current assets | 29/58 | €101,134 | €109,843 | +€8,709 | +8.6% |
| Stocks and contracts in progress | 3 | €90,810 | €94,900 | +€4,090 | +4.5% |
| Stocks | 30/36 | €90,810 | €94,900 | +€4,090 | +4.5% |
| Amounts receivable within one year | 40/41 | €5,878 | €732 | -€5,146 | -87.5% |
| Trade receivables | 40 | €5,267 | €716 | -€4,551 | -86.4% |
| Other amounts receivable | 41 | €611 | €17 | -€594 | -97.3% |
| Current investments | 50/53 | - | €10,522 | +€10,522 | |
| Cash at bank and in hand | 54/58 | €4,446 | €111 | -€4,335 | -97.5% |
| Deferred charges and accrued income | 490/1 | €0 | €3,577 | +€3,577 | |
| Total equity and liabilities | 10/49 | €253,767 | €223,157 | -€30,609 | -12.1% |
| Equity | 10/15 | -€130,709 | -€212,564 | -€81,855 | -62.6% |
| Contributions | 10/11 | €96,100 | €96,100 | = | 0.0% |
| Reserves | 13 | €114,334 | €114,334 | = | 0.0% |
| Distributable reserves | 133 | €114,334 | €114,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€341,143 | -€422,999 | -€81,855 | -24.0% |
| Amounts payable | 17/49 | €384,476 | €435,722 | +€51,246 | +13.3% |
| Amounts payable after more than one year | 17 | €380,900 | €425,900 | +€45,000 | +11.8% |
| Other amounts payable | 178/9 | €380,900 | €425,900 | +€45,000 | +11.8% |
| Amounts payable within one year | 42/48 | €3,576 | €9,822 | +€6,246 | +175% |
| Trade debts | 44 | €1,939 | €7,136 | +€5,197 | +268% |
| Suppliers | 440/4 | €1,939 | €7,136 | +€5,197 | +268% |
| Taxes, remuneration and social security | 45 | €481 | €831 | +€349 | +72.6% |
| Taxes | 450/3 | €481 | €831 | +€349 | +72.6% |
| Other amounts payable | 47/48 | €1,155 | €1,855 | +€700 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,988 | €39,068 | -€3,920 | -9.1% |
| Other operating charges | 640/8 | €5,110 | €5,359 | +€248 | +4.9% |
| Non-recurring operating charges | 66A | €249 | - | -€249 | |
| Gross operating margin | 9900 | -€89,747 | -€36,655 | +€53,092 | +59.2% |
| Operating profit (loss) | 9901 | -€138,093 | -€81,081 | +€57,012 | +41.3% |
| Financial income | 75/76B | €144 | €74 | -€71 | -48.9% |
| Recurring financial income | 75 | €144 | €74 | -€71 | -48.9% |
| Financial charges | 65/66B | €266 | €320 | +€54 | +20.5% |
| Recurring financial charges | 65 | €266 | €320 | +€54 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | -€138,215 | -€81,328 | +€56,887 | +41.2% |
| Income taxes | 67/77 | €494 | €527 | +€34 | +6.8% |
| Profit (loss) for the period | 9904 | -€138,709 | -€81,855 | +€56,854 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€138,709 | -€81,855 | +€56,854 | +41.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.