Vinasphalt: 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.
What changed
Vinasphalt
NACE 23.990, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€332,798
2024 · €396,268-€63,470
Equity
€866,453
2024 · €533,655+€332,798
Cash
€172,300
2024 · €126,037+€46,264
Balance sheet total
€4.9m
2024 · €3.6m+€1.3m
Largest movements
Assets
- Current investments +€1.9m
up €1.9m (+475%), from €400,000 to €2.3m
- Receivables within one year -€529,832
down €529,832 (-24.7%), from €2.1m to €1.6m
of which Trade receivables: -€684,422
- Stocks and contracts -€206,585
down €206,585 (-33.6%), from €615,516 to €408,931
Equity and liabilities
- Trade debts +€912,852
up €912,852 (+30.1%), from €3.0m to €3.9m
- Profit (loss) carried forward +€332,798
up €332,798 (+380%), from €87,506 to €420,304
Income statement
- Turnover +€594,087
up €594,087 (+4.9%), from €12.2m to €12.8m
- Services and other goods +€375,618
up €375,618 (+10.5%), from €3.6m to €4.0m
- Goods and materials +€197,533
up €197,533 (+2.6%), from €7.5m to €7.7m
of which Change in stocks: decrease (increase): +€232,309
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.
Result 2024
€396,268
Turnover
+€594,087
Other operating income
+€255
Goods and materials
-€197,533
Services and other goods
-€375,618
Staff costs
-€52,969
Depreciation
-€54,271
Write-downs
-€20,153
Other operating charges
+€27,058
Financial income
+€7,477
Financial charges
+€11,140
Taxes
-€2,943
Result 2025
€332,798
raises the resultlowers the result
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.
From operations
+€2.1m
Investment
-€2.1m
Financing
€0
Cash 2024
€126,037
From operations (derived)
+€2.1m
Net result for the year
+€332,798
Depreciation
+€120,963
Stocks and contracts
+€206,585
Receivables within one year
+€529,832
Deferred charges and accrued income
-€1,644
Trade debts
+€912,852
Tax, wage and social debts
+€27,714
Accrued charges and deferred income
-€15,081
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€167,755
Current investments
-€1.9m
Cash 2025
€172,300
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,624,287 | €4,882,571 | +€1.3m | +34.7% |
| Fixed assets | 21/28 | €325,462 | €372,255 | +€46,793 | +14.4% |
| Intangible fixed assets | 21 | €5,891 | €4,476 | -€1,416 | -24.0% |
| Tangible fixed assets | 22/27 | €319,208 | €367,416 | +€48,208 | +15.1% |
| Plant, machinery and equipment | 23 | €268,628 | €360,180 | +€91,553 | +34.1% |
| Assets under construction and advance payments | 27 | €50,580 | €7,235 | -€43,345 | -85.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Other financial fixed assets | 284/8 | €363 | €363 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €3,298,825 | €4,510,316 | +€1.2m | +36.7% |
| Stocks and contracts in progress | 3 | €615,516 | €408,931 | -€206,585 | -33.6% |
| Stocks | 30/36 | €615,516 | €408,931 | -€206,585 | -33.6% |
| Raw materials and consumables | 30/31 | €615,516 | €408,931 | -€206,585 | -33.6% |
| Amounts receivable within one year | 40/41 | €2,147,827 | €1,617,995 | -€529,832 | -24.7% |
| Trade receivables | 40 | €1,945,791 | €1,261,369 | -€684,422 | -35.2% |
| Other amounts receivable | 41 | €202,036 | €356,626 | +€154,590 | +76.5% |
| Current investments | 50/53 | €400,000 | €2,300,000 | +€1.9m | +475% |
| Other investments | 51/53 | €400,000 | €2,300,000 | +€1.9m | +475% |
| Cash at bank and in hand | 54/58 | €126,037 | €172,300 | +€46,264 | +36.7% |
| Deferred charges and accrued income | 490/1 | €9,446 | €11,090 | +€1,644 | +17.4% |
| Total equity and liabilities | 10/49 | €3,624,287 | €4,882,571 | +€1.3m | +34.7% |
| Equity | 10/15 | €533,655 | €866,453 | +€332,798 | +62.4% |
| Contributions | 10/11 | €405,590 | €405,590 | = | 0.0% |
| Capital | 10 | €405,590 | €405,590 | = | 0.0% |
| Issued capital | 100 | €405,590 | €405,590 | = | 0.0% |
| Reserves | 13 | €40,559 | €40,559 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,559 | €40,559 | = | 0.0% |
| Legal reserve | 130 | €40,559 | €40,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,506 | €420,304 | +€332,798 | +380% |
| Amounts payable | 17/49 | €3,090,632 | €4,016,118 | +€925,486 | +29.9% |
| Amounts payable within one year | 42/48 | €3,075,252 | €4,015,818 | +€940,566 | +30.6% |
| Trade debts | 44 | €3,029,353 | €3,942,205 | +€912,852 | +30.1% |
| Suppliers | 440/4 | €3,029,353 | €3,942,205 | +€912,852 | +30.1% |
| Taxes, remuneration and social security | 45 | €45,899 | €73,613 | +€27,714 | +60.4% |
| Taxes | 450/3 | - | €0 | = | |
| Remuneration and social security | 454/9 | €45,899 | €73,613 | +€27,714 | +60.4% |
| Accrued charges and deferred income | 492/3 | €15,380 | €300 | -€15,081 | -98.1% |
| Operating income | 70/76A | €12,265,167 | €12,859,509 | +€594,342 | +4.8% |
| Turnover | 70 | €12,172,602 | €12,766,688 | +€594,087 | +4.9% |
| Other operating income | 74 | €92,565 | €92,820 | +€255 | +0.3% |
| Operating charges | 60/66A | €11,862,956 | €12,536,442 | +€673,486 | +5.7% |
| Goods for resale, raw materials and consumables | 60 | €7,464,550 | €7,662,083 | +€197,533 | +2.6% |
| Purchases | 600/8 | €7,490,274 | €7,455,498 | -€34,776 | -0.5% |
| Change in stocks: decrease (increase) | 609 | -€25,724 | €206,585 | +€232,309 | |
| Services and other goods | 61 | €3,591,478 | €3,967,096 | +€375,618 | +10.5% |
| Remuneration, social security and pensions | 62 | €467,515 | €520,484 | +€52,969 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,691 | €120,963 | +€54,271 | +81.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,507 | €22,660 | +€20,153 | +804% |
| Other operating charges | 640/8 | €270,215 | €243,157 | -€27,058 | -10.0% |
| Operating profit (loss) | 9901 | €402,211 | €323,066 | -€79,144 | -19.7% |
| Financial income | 75/76B | €6,636 | €14,113 | +€7,477 | +113% |
| Recurring financial income | 75 | €6,636 | €14,113 | +€7,477 | +113% |
| Income from current assets | 751 | €5,375 | €9,078 | +€3,702 | +68.9% |
| Other financial income | 752/9 | €1,261 | €5,036 | +€3,775 | +299% |
| Financial charges | 65/66B | €12,798 | €1,658 | -€11,140 | -87.0% |
| Recurring financial charges | 65 | €12,798 | €1,658 | -€11,140 | -87.0% |
| Debt charges | 650 | €12,567 | - | -€12,567 | |
| Other financial charges | 652/9 | €231 | €1,658 | +€1,427 | +617% |
| Profit (loss) for the period before taxes | 9903 | €396,049 | €335,521 | -€60,527 | -15.3% |
| Income taxes | 67/77 | -€219 | €2,723 | +€2,943 | |
| Taxes | 670/3 | - | €2,723 | +€2,723 | |
| Tax adjustments and reversals of tax provisions | 77 | €219 | - | -€219 | |
| Profit (loss) for the period | 9904 | €396,268 | €332,798 | -€63,470 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €396,268 | €332,798 | -€63,470 | -16.0% |
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 18 October 2026 via checked.be.