VINCENT G.: 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.
VINCENT G.
Largest movements
- Receivables after one year +€49,000
up €49,000 (+28.8%), from €170,000 to €219,000
- Tangible fixed assets -€37,891
down €37,891 (-22.6%), from €167,891 to €130,000
of which Other tangible fixed assets: -€36,830
- Cash -€28,107
down €28,107 (-57.2%), from €49,108 to €21,001
mainly Debts after one year (-€64,899) and Receivables after one year (-€49,000)
- Receivables within one year -€27,799
down €27,799 (-50.8%), from €54,749 to €26,949
of which Other amounts receivable: -€32,189
- Intangible fixed assets -€24,214
down €24,214 (-25.0%), from €96,856 to €72,642
- Debts after one year -€64,899
down €64,899 (-62.9%), from €103,118 to €38,218
- Tax, wage and social debts +€39,101
up €39,101 (+69.1%), from €56,579 to €95,680
of which Remuneration and social security: +€22,994
- Current portion of long-term debt -€15,754
down €15,754 (-17.7%), from €89,018 to €73,264
- Other debts -€12,032
no longer reported in 2025 (was €12,032)
- Trade debts -€9,813
down €9,813 (-11.4%), from €85,799 to €75,986
- Staff costs +€15,204
up €15,204 (+3.4%), from €444,758 to €459,963
- Taxes -€8,076
down €8,076 (-50.1%), from €16,112 to €8,036
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 | €564,157 | €497,972 | -€66,186 | -11.7% |
| Fixed assets | 21/28 | €265,504 | €203,399 | -€62,105 | -23.4% |
| Intangible fixed assets | 21 | €96,856 | €72,642 | -€24,214 | -25.0% |
| Tangible fixed assets | 22/27 | €167,891 | €130,000 | -€37,891 | -22.6% |
| Plant, machinery and equipment | 23 | €1,846 | €1,406 | -€440 | -23.8% |
| Furniture and vehicles | 24 | €3,828 | €3,207 | -€621 | -16.2% |
| Other tangible fixed assets | 26 | €162,217 | €125,387 | -€36,830 | -22.7% |
| Financial fixed assets | 28 | €757 | €757 | = | 0.0% |
| Current assets | 29/58 | €298,653 | €294,572 | -€4,081 | -1.4% |
| Amounts receivable after more than one year | 29 | €170,000 | €219,000 | +€49,000 | +28.8% |
| Trade receivables | 290 | €170,000 | €219,000 | +€49,000 | +28.8% |
| Stocks and contracts in progress | 3 | €12,158 | €13,350 | +€1,192 | +9.8% |
| Stocks | 30/36 | €12,158 | €13,350 | +€1,192 | +9.8% |
| Amounts receivable within one year | 40/41 | €54,749 | €26,949 | -€27,799 | -50.8% |
| Trade receivables | 40 | - | €4,390 | +€4,390 | |
| Other amounts receivable | 41 | €54,749 | €22,559 | -€32,189 | -58.8% |
| Cash at bank and in hand | 54/58 | €49,108 | €21,001 | -€28,107 | -57.2% |
| Deferred charges and accrued income | 490/1 | €12,639 | €14,272 | +€1,633 | +12.9% |
| Total equity and liabilities | 10/49 | €564,157 | €497,972 | -€66,186 | -11.7% |
| Equity | 10/15 | €212,539 | €214,823 | +€2,284 | +1.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €112,500 | €112,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,039 | €77,323 | +€2,284 | +3.0% |
| Amounts payable | 17/49 | €351,618 | €283,148 | -€68,470 | -19.5% |
| Amounts payable after more than one year | 17 | €103,118 | €38,218 | -€64,899 | -62.9% |
| Financial debts | 170/4 | €103,118 | €38,218 | -€64,899 | -62.9% |
| Amounts payable within one year | 42/48 | €248,501 | €244,930 | -€3,571 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €89,018 | €73,264 | -€15,754 | -17.7% |
| Financial debts | 43 | €5,073 | - | -€5,073 | |
| Credit institutions | 430/8 | €5,073 | - | -€5,073 | |
| Trade debts | 44 | €85,799 | €75,986 | -€9,813 | -11.4% |
| Suppliers | 440/4 | €85,799 | €75,986 | -€9,813 | -11.4% |
| Taxes, remuneration and social security | 45 | €56,579 | €95,680 | +€39,101 | +69.1% |
| Taxes | 450/3 | €19,601 | €35,708 | +€16,107 | +82.2% |
| Remuneration and social security | 454/9 | €36,978 | €59,972 | +€22,994 | +62.2% |
| Other amounts payable | 47/48 | €12,032 | - | -€12,032 | |
| Remuneration, social security and pensions | 62 | €444,758 | €459,963 | +€15,204 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,398 | €62,500 | +€102 | +0.2% |
| Other operating charges | 640/8 | €2,856 | €2,609 | -€247 | -8.7% |
| Non-recurring operating charges | 66A | - | €19,126 | +€19,126 | |
| Gross operating margin | 9900 | €600,430 | €595,663 | -€4,767 | -0.8% |
| Operating profit (loss) | 9901 | €90,417 | €51,466 | -€38,951 | -43.1% |
| Financial income | 75/76B | - | €211 | +€211 | |
| Recurring financial income | 75 | - | €211 | +€211 | |
| Financial charges | 65/66B | €13,179 | €11,357 | -€1,822 | -13.8% |
| Recurring financial charges | 65 | €13,179 | €11,357 | -€1,822 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €77,238 | €40,320 | -€36,918 | -47.8% |
| Income taxes | 67/77 | €16,112 | €8,036 | -€8,076 | -50.1% |
| Profit (loss) for the period | 9904 | €61,126 | €32,284 | -€28,842 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,126 | €32,284 | -€28,842 | -47.2% |
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 19 October 2026 via checked.be.