VINCA: 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.
VINCA
Largest movements
- Cash -€30,168
down €30,168 (-48.1%), from €62,741 to €32,573
mainly Investment in fixed assets (net) (-€53,897) and Debts after one year (-€15,378)
- Tangible fixed assets +€28,529
up €28,529 (+15.4%), from €185,336 to €213,865
of which Plant, machinery and equipment: +€23,517
- Stocks and contracts +€9,770
up €9,770 (+15.0%), from €65,034 to €74,804
- Debts after one year -€15,378
down €15,378 (-15.8%), from €97,606 to €82,229
- Other debts +€14,979
up €14,979 (+35.2%), from €42,568 to €57,546
- Reserves +€11,630
up €11,630 (+9.7%), from €119,812 to €131,442
of which Distributable reserves: +€11,630
- Trade debts -€5,617
down €5,617 (-35.1%), from €16,024 to €10,407
- Gross operating margin +€28,545
up €28,545 (+47.7%), from €59,902 to €88,447
- Financial charges +€20,944
up €20,944 (+828.8%), from €2,527 to €23,471
of which Non-recurring financial charges: +€20,661
- Financial income -€8,431
down €8,431 (-83.3%), from €10,125 to €1,694
of which Non-recurring financial income: -€5,785
- Depreciation +€5,712
up €5,712 (+29.1%), from €19,656 to €25,367
- Staff costs +€2,607
up €2,607 (+14.4%), from €18,049 to €20,656
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 | €318,273 | €324,904 | +€6,631 | +2.1% |
| Fixed assets | 21/28 | €185,336 | €213,865 | +€28,529 | +15.4% |
| Tangible fixed assets | 22/27 | €185,336 | €213,865 | +€28,529 | +15.4% |
| Plant, machinery and equipment | 23 | €8,716 | €32,233 | +€23,517 | +269.8% |
| Furniture and vehicles | 24 | €31,496 | €48,503 | +€17,006 | +54.0% |
| Other tangible fixed assets | 26 | €145,123 | €133,129 | -€11,994 | -8.3% |
| Current assets | 29/58 | €132,937 | €111,038 | -€21,898 | -16.5% |
| Stocks and contracts in progress | 3 | €65,034 | €74,804 | +€9,770 | +15.0% |
| Stocks | 30/36 | €65,034 | €74,804 | +€9,770 | +15.0% |
| Amounts receivable within one year | 40/41 | €3,233 | €1,814 | -€1,419 | -43.9% |
| Trade receivables | 40 | €3,233 | €1,814 | -€1,419 | -43.9% |
| Cash at bank and in hand | 54/58 | €62,741 | €32,573 | -€30,168 | -48.1% |
| Deferred charges and accrued income | 490/1 | €1,929 | €1,847 | -€81 | -4.2% |
| Total equity and liabilities | 10/49 | €318,273 | €324,904 | +€6,631 | +2.1% |
| Equity | 10/15 | €138,478 | €150,108 | +€11,630 | +8.4% |
| Contributions | 10/11 | €18,666 | €18,666 | = | 0.0% |
| Reserves | 13 | €119,812 | €131,442 | +€11,630 | +9.7% |
| Tax-exempt reserves | 132 | €1,347 | €1,347 | = | 0.0% |
| Distributable reserves | 133 | €118,465 | €130,095 | +€11,630 | +9.8% |
| Amounts payable | 17/49 | €179,794 | €174,796 | -€4,999 | -2.8% |
| Amounts payable after more than one year | 17 | €97,606 | €82,229 | -€15,378 | -15.8% |
| Financial debts | 170/4 | €97,606 | €82,229 | -€15,378 | -15.8% |
| Amounts payable within one year | 42/48 | €82,188 | €92,567 | +€10,379 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €15,208 | €15,378 | +€170 | +1.1% |
| Trade debts | 44 | €16,024 | €10,407 | -€5,617 | -35.1% |
| Suppliers | 440/4 | €16,024 | €10,407 | -€5,617 | -35.1% |
| Taxes, remuneration and social security | 45 | €8,388 | €9,236 | +€848 | +10.1% |
| Taxes | 450/3 | €8,388 | €9,236 | +€848 | +10.1% |
| Other amounts payable | 47/48 | €42,568 | €57,546 | +€14,979 | +35.2% |
| Non-recurring operating income | 76A | - | €20,711 | +€20,711 | |
| Remuneration, social security and pensions | 62 | €18,049 | €20,656 | +€2,607 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,656 | €25,367 | +€5,712 | +29.1% |
| Other operating charges | 640/8 | €2,891 | €2,801 | -€90 | -3.1% |
| Gross operating margin | 9900 | €59,902 | €88,447 | +€28,545 | +47.7% |
| Operating profit (loss) | 9901 | €19,306 | €39,624 | +€20,317 | +105.2% |
| Financial income | 75/76B | €10,125 | €1,694 | -€8,431 | -83.3% |
| Recurring financial income | 75 | €4,340 | €1,694 | -€2,645 | -61.0% |
| Non-recurring financial income | 76B | €5,785 | - | -€5,785 | |
| Financial charges | 65/66B | €2,527 | €23,471 | +€20,944 | +828.8% |
| Recurring financial charges | 65 | €2,527 | €2,810 | +€283 | +11.2% |
| Non-recurring financial charges | 66B | - | €20,661 | +€20,661 | |
| Profit (loss) for the period before taxes | 9903 | €26,904 | €17,848 | -€9,057 | -33.7% |
| Income taxes | 67/77 | €8,678 | €6,217 | -€2,460 | -28.4% |
| Profit (loss) for the period | 9904 | €18,227 | €11,630 | -€6,597 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,227 | €11,630 | -€6,597 | -36.2% |
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 8 October 2026 via checked.be.