VINCENT TEAM: 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 TEAM
Largest movements
- Current investments +€59,690
up €59,690 (+45.5%), from €131,147 to €190,837
- Tangible fixed assets -€11,844
down €11,844 (-34.0%), from €34,820 to €22,976
- Deferred charges and accrued income -€4,671
down €4,671 (-17.5%), from €26,745 to €22,074
- Receivables within one year -€3,987
down €3,987 (-90.5%), from €4,407 to €420
- Cash +€2,728
up €2,728 (+15.6%), from €17,524 to €20,253
mainly Other debts (+€67,623) and Net result for the year (+€38,165)
- Other debts +€67,623
up €67,623 (+57,454%), from €118 to €67,741
- Reserves -€35,530
down €35,530 (-20.1%), from €176,869 to €141,339
of which Distributable reserves: -€33,530
- Tax, wage and social debts +€6,111
up €6,111 (+39.4%), from €15,497 to €21,608
of which Taxes: +€3,854
- Staff costs +€27,166
up €27,166 (+380%), from €7,156 to €34,323
- Gross operating margin +€14,807
up €14,807 (+15.8%), from €93,511 to €108,318
- Other operating charges -€1,986
down €1,986 (-79.9%), from €2,486 to €501
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 | €215,007 | €256,923 | +€41,916 | +19.5% |
| Fixed assets | 21/28 | €35,183 | €23,340 | -€11,844 | -33.7% |
| Tangible fixed assets | 22/27 | €34,820 | €22,976 | -€11,844 | -34.0% |
| Furniture and vehicles | 24 | €34,820 | €22,976 | -€11,844 | -34.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €179,823 | €233,583 | +€53,760 | +29.9% |
| Amounts receivable within one year | 40/41 | €4,407 | €420 | -€3,987 | -90.5% |
| Trade receivables | 40 | €4,407 | €420 | -€3,987 | -90.5% |
| Current investments | 50/53 | €131,147 | €190,837 | +€59,690 | +45.5% |
| Cash at bank and in hand | 54/58 | €17,524 | €20,253 | +€2,728 | +15.6% |
| Deferred charges and accrued income | 490/1 | €26,745 | €22,074 | -€4,671 | -17.5% |
| Total equity and liabilities | 10/49 | €215,007 | €256,923 | +€41,916 | +19.5% |
| Equity | 10/15 | €196,869 | €163,504 | -€33,365 | -16.9% |
| Contributions | 10/11 | €20,000 | €22,000 | +€2,000 | +10.0% |
| Reserves | 13 | €176,869 | €141,339 | -€35,530 | -20.1% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Tax-exempt reserves | 132 | €43,400 | €43,400 | = | 0.0% |
| Distributable reserves | 133 | €131,469 | €97,939 | -€33,530 | -25.5% |
| Profit (loss) carried forward | 14 | - | €165 | +€165 | |
| Amounts payable | 17/49 | €18,138 | €93,419 | +€75,281 | +415% |
| Amounts payable within one year | 42/48 | €18,138 | €93,419 | +€75,281 | +415% |
| Trade debts | 44 | €2,523 | €4,070 | +€1,547 | +61.3% |
| Suppliers | 440/4 | €2,523 | €4,070 | +€1,547 | +61.3% |
| Taxes, remuneration and social security | 45 | €15,497 | €21,608 | +€6,111 | +39.4% |
| Taxes | 450/3 | €13,998 | €17,852 | +€3,854 | +27.5% |
| Remuneration and social security | 454/9 | €1,499 | €3,756 | +€2,257 | +151% |
| Other amounts payable | 47/48 | €118 | €67,741 | +€67,623 | +57,454% |
| Remuneration, social security and pensions | 62 | €7,156 | €34,323 | +€27,166 | +380% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,844 | €11,844 | = | 0.0% |
| Other operating charges | 640/8 | €2,486 | €501 | -€1,986 | -79.9% |
| Gross operating margin | 9900 | €93,511 | €108,318 | +€14,807 | +15.8% |
| Operating profit (loss) | 9901 | €72,024 | €61,651 | -€10,374 | -14.4% |
| Financial income | 75/76B | €1,875 | €2,414 | +€539 | +28.7% |
| Recurring financial income | 75 | €1,325 | €2,414 | +€1,089 | +82.2% |
| Non-recurring financial income | 76B | €550 | - | -€550 | |
| Financial charges | 65/66B | €210 | €171 | -€39 | -18.7% |
| Recurring financial charges | 65 | €210 | €171 | -€39 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €73,690 | €63,894 | -€9,795 | -13.3% |
| Income taxes | 67/77 | €26,370 | €25,729 | -€641 | -2.4% |
| Profit (loss) for the period | 9904 | €47,320 | €38,165 | -€9,155 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,320 | €38,165 | -€9,155 | -19.3% |
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 28 October 2026 via checked.be.