VINCENT logistics: 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
VINCENT logistics
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€464,924
2024 · €112,008+€352,916
Equity
€7.2m
2024 · €6.7m+€443,359
Cash
€4.0m
2024 · €3.7m+€331,204
Balance sheet total
€15.3m
2024 · €14.9m+€395,323
Largest movements
Assets
- Receivables within one year +€669,822
up €669,822 (+17.8%), from €3.8m to €4.4m
of which Trade receivables: +€724,100
- Tangible fixed assets -€560,191
down €560,191 (-8.3%), from €6.8m to €6.2m
of which Furniture and vehicles: -€770,990
- Cash +€331,204
up €331,204 (+9.0%), from €3.7m to €4.0m
mainly Depreciation (+€2.3m) and Net result for the year (+€464,924)
Equity and liabilities
- Reserves +€464,924
up €464,924 (+9.4%), from €4.9m to €5.4m
of which Distributable reserves: +€303,929
- Current portion of long-term debt +€305,796
up €305,796 (+25.3%), from €1.2m to €1.5m
- Trade debts -€236,182
down €236,182 (-11.8%), from €2.0m to €1.8m
- Debts after one year -€153,717
down €153,717 (-4.0%), from €3.8m to €3.7m
Income statement
- Services and other goods +€707,955
up €707,955 (+6.6%), from €10.7m to €11.4m
- Turnover +€568,486
up €568,486 (+2.0%), from €28.2m to €28.7m
- Goods and materials -€427,575
down €427,575 (-5.4%), from €8.0m to €7.6m
of which Purchases: -€441,043
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
€112,008
Turnover
+€568,486
Other operating income
-€2,279
Goods and materials
+€427,575
Services and other goods
-€707,955
Staff costs
+€12,440
Depreciation
+€18,292
Write-downs
+€16,078
Other operating charges
+€47,100
Other operating items
+€12,695
Financial income
-€35,965
Financial charges
-€197
Taxes
-€3,354
Result 2025
€464,924
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.9m
Investment
-€1.7m
Financing
+€130,514
Cash 2024
€3.7m
From operations (derived)
+€1.9m
Net result for the year
+€464,924
Depreciation
+€2.3m
Stocks and contracts
+€27,066
Receivables within one year
-€669,822
Smaller working-capital items
-€5,932
Trade debts
-€236,182
Tax, wage and social debts
+€23,432
Accrued charges and deferred income
+€14,585
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€130,514
Debts after one year
-€153,717
Current portion of long-term debt
+€305,796
Contributions, distributions and other
-€21,565
Cash 2025
€4.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,938,133 | €15,333,457 | +€395,323 | +2.6% |
| Fixed assets | 21/28 | €6,828,791 | €6,246,171 | -€582,620 | -8.5% |
| Intangible fixed assets | 21 | €47,798 | €25,370 | -€22,428 | -46.9% |
| Tangible fixed assets | 22/27 | €6,780,993 | €6,220,801 | -€560,191 | -8.3% |
| Plant, machinery and equipment | 23 | €1,008,610 | €873,202 | -€135,408 | -13.4% |
| Furniture and vehicles | 24 | €5,098,975 | €4,327,984 | -€770,990 | -15.1% |
| Other tangible fixed assets | 26 | €540,187 | €1,019,615 | +€479,427 | +88.8% |
| Assets under construction and advance payments | 27 | €133,220 | - | -€133,220 | |
| Current assets | 29/58 | €8,109,343 | €9,087,286 | +€977,943 | +12.1% |
| Stocks and contracts in progress | 3 | €279,575 | €252,509 | -€27,066 | -9.7% |
| Stocks | 30/36 | €279,575 | €252,509 | -€27,066 | -9.7% |
| Raw materials and consumables | 30/31 | €121,931 | €124,551 | +€2,620 | +2.1% |
| Goods purchased for resale | 34 | €157,644 | €127,958 | -€29,686 | -18.8% |
| Amounts receivable within one year | 40/41 | €3,769,228 | €4,439,050 | +€669,822 | +17.8% |
| Trade receivables | 40 | €3,689,089 | €4,413,190 | +€724,100 | +19.6% |
| Other amounts receivable | 41 | €80,139 | €25,861 | -€54,278 | -67.7% |
| Cash at bank and in hand | 54/58 | €3,683,159 | €4,014,363 | +€331,204 | +9.0% |
| Deferred charges and accrued income | 490/1 | €377,382 | €381,364 | +€3,982 | +1.1% |
| Total equity and liabilities | 10/49 | €14,938,133 | €15,333,457 | +€395,323 | +2.6% |
| Equity | 10/15 | €6,729,160 | €7,172,519 | +€443,359 | +6.6% |
| Contributions | 10/11 | €1,755,111 | €1,755,111 | = | 0.0% |
| Capital | 10 | €1,755,111 | €1,755,111 | = | 0.0% |
| Issued capital | 100 | €1,755,111 | €1,755,111 | = | 0.0% |
| Reserves | 13 | €4,920,938 | €5,385,862 | +€464,924 | +9.4% |
| Non-distributable reserves | 130/1 | €175,511 | €175,511 | = | 0.0% |
| Legal reserve | 130 | €175,511 | €175,511 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,941,306 | €4,102,301 | +€160,995 | +4.1% |
| Distributable reserves | 133 | €804,121 | €1,108,050 | +€303,929 | +37.8% |
| Investment grants | 15 | €53,111 | €31,546 | -€21,565 | -40.6% |
| Amounts payable | 17/49 | €8,208,974 | €8,160,938 | -€48,036 | -0.6% |
| Amounts payable after more than one year | 17 | €3,832,938 | €3,679,221 | -€153,717 | -4.0% |
| Financial debts | 170/4 | €3,832,938 | €3,679,221 | -€153,717 | -4.0% |
| Credit institutions | 173 | €3,832,938 | €3,679,221 | -€153,717 | -4.0% |
| Amounts payable within one year | 42/48 | €4,296,952 | €4,388,049 | +€91,096 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €1,208,739 | €1,514,535 | +€305,796 | +25.3% |
| Trade debts | 44 | €1,997,015 | €1,760,833 | -€236,182 | -11.8% |
| Suppliers | 440/4 | €1,997,015 | €1,760,833 | -€236,182 | -11.8% |
| Taxes, remuneration and social security | 45 | €1,083,435 | €1,106,868 | +€23,432 | +2.2% |
| Taxes | 450/3 | €142,515 | €143,182 | +€667 | +0.5% |
| Remuneration and social security | 454/9 | €940,920 | €963,686 | +€22,766 | +2.4% |
| Other amounts payable | 47/48 | €7,764 | €5,814 | -€1,950 | -25.1% |
| Accrued charges and deferred income | 492/3 | €79,083 | €93,668 | +€14,585 | +18.4% |
| Operating income | 70/76A | €30,016,216 | €30,585,769 | +€569,554 | +1.9% |
| Turnover | 70 | €28,169,405 | €28,737,892 | +€568,486 | +2.0% |
| Own construction capitalised | 72 | - | €3,346 | +€3,346 | |
| Other operating income | 74 | €1,846,810 | €1,844,532 | -€2,279 | -0.1% |
| Operating charges | 60/66A | €29,781,703 | €29,958,824 | +€177,121 | +0.6% |
| Goods for resale, raw materials and consumables | 60 | €7,978,812 | €7,551,237 | -€427,575 | -5.4% |
| Purchases | 600/8 | €7,953,815 | €7,512,771 | -€441,043 | -5.5% |
| Change in stocks: decrease (increase) | 609 | €24,997 | €38,466 | +€13,469 | +53.9% |
| Services and other goods | 61 | €10,692,275 | €11,400,230 | +€707,955 | +6.6% |
| Remuneration, social security and pensions | 62 | €8,631,835 | €8,619,395 | -€12,440 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,338,069 | €2,319,777 | -€18,292 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,161 | -€18,239 | -€16,078 | -744% |
| Other operating charges | 640/8 | €133,524 | €86,424 | -€47,100 | -35.3% |
| Non-recurring operating charges | 66A | €9,349 | - | -€9,349 | |
| Operating profit (loss) | 9901 | €234,513 | €626,945 | +€392,432 | +167% |
| Financial income | 75/76B | €58,468 | €22,502 | -€35,965 | -61.5% |
| Recurring financial income | 75 | €58,468 | €22,502 | -€35,965 | -61.5% |
| Other financial income | 752/9 | €58,468 | €22,502 | -€35,965 | -61.5% |
| Financial charges | 65/66B | €175,545 | €175,743 | +€197 | +0.1% |
| Recurring financial charges | 65 | €175,545 | €175,743 | +€197 | +0.1% |
| Debt charges | 650 | €157,958 | €175,743 | +€17,784 | +11.3% |
| Other financial charges | 652/9 | €17,587 | - | -€17,587 | |
| Profit (loss) for the period before taxes | 9903 | €117,435 | €473,705 | +€356,270 | +303% |
| Income taxes | 67/77 | €5,427 | €8,781 | +€3,354 | +61.8% |
| Taxes | 670/3 | €5,427 | €8,781 | +€3,354 | +61.8% |
| Profit (loss) for the period | 9904 | €112,008 | €464,924 | +€352,916 | +315% |
| Transfer to tax-exempt reserves | 689 | €180,444 | €160,995 | -€19,449 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,436 | €303,929 | +€372,365 |
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 14 October 2026 via checked.be.