VINC.: 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.
VINC.
Largest movements
- Cash +€57,001
up €57,001 (+36.9%), from €154,469 to €211,470
mainly Net result for the year (+€459,304) and Other debts (+€133,903)
- Receivables within one year +€54,833
up €54,833 (+27.4%), from €200,333 to €255,166
of which Trade receivables: +€44,310
- Other debts +€133,903
up €133,903 (+41.2%), from €325,401 to €459,304
- Tax, wage and social debts -€23,203
down €23,203 (-60.7%), from €38,238 to €15,035
- Gross operating margin +€130,414
up €130,414 (+27.8%), from €468,341 to €598,755
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 | €366,839 | €478,288 | +€111,449 | +30.4% |
| Fixed assets | 21/28 | €12,038 | €11,340 | -€698 | -5.8% |
| Tangible fixed assets | 22/27 | €11,938 | €11,240 | -€698 | -5.8% |
| Furniture and vehicles | 24 | €11,938 | €11,240 | -€698 | -5.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €354,802 | €466,949 | +€112,147 | +31.6% |
| Amounts receivable within one year | 40/41 | €200,333 | €255,166 | +€54,833 | +27.4% |
| Trade receivables | 40 | €189,997 | €234,307 | +€44,310 | +23.3% |
| Other amounts receivable | 41 | €10,336 | €20,859 | +€10,523 | +101.8% |
| Cash at bank and in hand | 54/58 | €154,469 | €211,470 | +€57,001 | +36.9% |
| Deferred charges and accrued income | 490/1 | - | €313 | +€313 | |
| Total equity and liabilities | 10/49 | €366,839 | €478,288 | +€111,449 | +30.4% |
| Equity | 10/15 | €1,063 | €1,063 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63 | €63 | = | 0.0% |
| Amounts payable | 17/49 | €365,776 | €477,225 | +€111,449 | +30.5% |
| Amounts payable within one year | 42/48 | €365,776 | €477,225 | +€111,449 | +30.5% |
| Trade debts | 44 | €2,137 | €2,886 | +€749 | +35.1% |
| Suppliers | 440/4 | €2,137 | €2,886 | +€749 | +35.1% |
| Taxes, remuneration and social security | 45 | €38,238 | €15,035 | -€23,203 | -60.7% |
| Taxes | 450/3 | €38,238 | €15,035 | -€23,203 | -60.7% |
| Other amounts payable | 47/48 | €325,401 | €459,304 | +€133,903 | +41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,716 | €4,884 | +€168 | +3.6% |
| Other operating charges | 640/8 | €819 | €965 | +€146 | +17.8% |
| Gross operating margin | 9900 | €468,341 | €598,755 | +€130,414 | +27.8% |
| Operating profit (loss) | 9901 | €462,805 | €592,906 | +€130,101 | +28.1% |
| Financial income | 75/76B | €178 | €250 | +€72 | +40.5% |
| Recurring financial income | 75 | €178 | €250 | +€72 | +40.5% |
| Financial charges | 65/66B | €192 | €45 | -€147 | -76.6% |
| Recurring financial charges | 65 | €192 | €45 | -€147 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €462,791 | €593,111 | +€130,320 | +28.2% |
| Income taxes | 67/77 | €137,390 | €133,807 | -€3,583 | -2.6% |
| Profit (loss) for the period | 9904 | €325,401 | €459,304 | +€133,903 | +41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €325,401 | €459,304 | +€133,903 | +41.2% |
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 2 October 2026 via checked.be.