VINCENTI: 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.
VINCENTI
Largest movements
- Cash +€135,097
up €135,097 (+225.0%), from €60,039 to €195,136
mainly Net result for the year (+€73,277) and Receivables within one year (+€64,292)
- Receivables within one year -€64,292
down €64,292 (-88.9%), from €72,337 to €8,045
of which Trade receivables: -€72,337
- Tangible fixed assets -€11,515
down €11,515 (-32.3%), from €35,697 to €24,182
of which Furniture and vehicles: -€10,215
- Deferred charges and accrued income -€5,131
no longer reported in 2025 (was €5,131)
- Reserves +€73,277
up €73,277 (+65.6%), from €111,670 to €184,947
- Tax, wage and social debts -€15,390
down €15,390 (-52.4%), from €29,394 to €14,004
of which Taxes: -€15,448
- Trade debts -€2,597
down €2,597 (-37.8%), from €6,877 to €4,281
- Gross operating margin +€50,650
up €50,650 (+50.9%), from €99,458 to €150,108
- Taxes +€26,989
up €26,989 (+184.0%), from €14,670 to €41,659
- Staff costs -€9,736
down €9,736 (-41.6%), from €23,403 to €13,667
- Other operating charges +€5,579
up €5,579 (+411.0%), from €1,358 to €6,936
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 | €173,474 | €227,633 | +€54,159 | +31.2% |
| Fixed assets | 21/28 | €35,967 | €24,452 | -€11,515 | -32.0% |
| Tangible fixed assets | 22/27 | €35,697 | €24,182 | -€11,515 | -32.3% |
| Furniture and vehicles | 24 | €33,233 | €23,017 | -€10,215 | -30.7% |
| Other tangible fixed assets | 26 | €2,464 | €1,164 | -€1,300 | -52.8% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €137,507 | €203,182 | +€65,675 | +47.8% |
| Amounts receivable within one year | 40/41 | €72,337 | €8,045 | -€64,292 | -88.9% |
| Trade receivables | 40 | €72,337 | - | -€72,337 | |
| Other amounts receivable | 41 | - | €8,045 | +€8,045 | |
| Cash at bank and in hand | 54/58 | €60,039 | €195,136 | +€135,097 | +225.0% |
| Deferred charges and accrued income | 490/1 | €5,131 | - | -€5,131 | |
| Total equity and liabilities | 10/49 | €173,474 | €227,633 | +€54,159 | +31.2% |
| Equity | 10/15 | €117,870 | €191,147 | +€73,277 | +62.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €111,670 | €184,947 | +€73,277 | +65.6% |
| Distributable reserves | 133 | €111,670 | €184,947 | +€73,277 | +65.6% |
| Amounts payable | 17/49 | €55,604 | €36,487 | -€19,118 | -34.4% |
| Amounts payable after more than one year | 17 | €17,940 | €16,464 | -€1,477 | -8.2% |
| Financial debts | 170/4 | €17,940 | €16,464 | -€1,477 | -8.2% |
| Amounts payable within one year | 42/48 | €37,664 | €19,761 | -€17,903 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €1,393 | €1,477 | +€84 | +6.0% |
| Trade debts | 44 | €6,877 | €4,281 | -€2,597 | -37.8% |
| Suppliers | 440/4 | €6,877 | €4,281 | -€2,597 | -37.8% |
| Taxes, remuneration and social security | 45 | €29,394 | €14,004 | -€15,390 | -52.4% |
| Taxes | 450/3 | €25,958 | €10,510 | -€15,448 | -59.5% |
| Remuneration and social security | 454/9 | €3,436 | €3,494 | +€58 | +1.7% |
| Accrued charges and deferred income | 492/3 | - | €262 | +€262 | |
| Remuneration, social security and pensions | 62 | €23,403 | €13,667 | -€9,736 | -41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,859 | €12,968 | +€109 | +0.8% |
| Other operating charges | 640/8 | €1,358 | €6,936 | +€5,579 | +411.0% |
| Gross operating margin | 9900 | €99,458 | €150,108 | +€50,650 | +50.9% |
| Operating profit (loss) | 9901 | €61,838 | €116,537 | +€54,699 | +88.5% |
| Financial income | 75/76B | €1 | €1 | +€0 | +15.9% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +15.9% |
| Financial charges | 65/66B | €911 | €1,602 | +€691 | +75.8% |
| Recurring financial charges | 65 | €911 | €1,602 | +€691 | +75.8% |
| Profit (loss) for the period before taxes | 9903 | €60,928 | €114,936 | +€54,008 | +88.6% |
| Income taxes | 67/77 | €14,670 | €41,659 | +€26,989 | +184.0% |
| Profit (loss) for the period | 9904 | €46,258 | €73,277 | +€27,019 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,258 | €73,277 | +€27,019 | +58.4% |
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 11 October 2026 via checked.be.