VINCENZO: 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.
VINCENZO
Largest movements
- Cash +€11,300
up €11,300 (+18.7%), from €60,555 to €71,855
mainly Net result for the year (+€20,276) and Stocks and contracts (+€9,460)
- Tangible fixed assets +€9,552
up €9,552 (+40.7%), from €23,444 to €32,996
of which Plant, machinery and equipment: +€12,743
- Stocks and contracts -€9,460
down €9,460 (-56.5%), from €16,738 to €7,278
- Receivables within one year +€4,262
up €4,262 (+21.6%), from €19,691 to €23,953
of which Other amounts receivable: +€5,374
- Deferred charges and accrued income -€1,582
down €1,582 (-45.3%), from €3,495 to €1,913
- Profit (loss) carried forward +€19,417
up €19,417 (+53.8%), from €36,060 to €55,476
- Trade debts -€10,476
down €10,476 (-32.2%), from €32,490 to €22,014
- Other debts +€7,814
up €7,814 (+52.8%), from €14,806 to €22,620
- Tax, wage and social debts -€2,679
down €2,679 (-13.5%), from €19,904 to €17,225
of which Remuneration and social security: -€3,497
- Gross operating margin +€21,989
up €21,989 (+13.6%), from €161,384 to €183,373
- Staff costs +€14,901
up €14,901 (+11.2%), from €132,750 to €147,650
- Taxes +€3,775
up €3,775 (+2,706%), from €140 to €3,915
- Depreciation +€1,928
up €1,928 (+36.4%), from €5,296 to €7,224
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 | €123,922 | €137,995 | +€14,073 | +11.4% |
| Fixed assets | 21/28 | €23,444 | €32,996 | +€9,552 | +40.7% |
| Tangible fixed assets | 22/27 | €23,444 | €32,996 | +€9,552 | +40.7% |
| Land and buildings | 22 | €10,683 | €9,185 | -€1,498 | -14.0% |
| Plant, machinery and equipment | 23 | €6,867 | €19,609 | +€12,743 | +186% |
| Furniture and vehicles | 24 | €5,895 | €4,202 | -€1,693 | -28.7% |
| Current assets | 29/58 | €100,478 | €104,999 | +€4,521 | +4.5% |
| Stocks and contracts in progress | 3 | €16,738 | €7,278 | -€9,460 | -56.5% |
| Stocks | 30/36 | €16,738 | €7,278 | -€9,460 | -56.5% |
| Amounts receivable within one year | 40/41 | €19,691 | €23,953 | +€4,262 | +21.6% |
| Trade receivables | 40 | €19,055 | €17,943 | -€1,112 | -5.8% |
| Other amounts receivable | 41 | €636 | €6,009 | +€5,374 | +845% |
| Cash at bank and in hand | 54/58 | €60,555 | €71,855 | +€11,300 | +18.7% |
| Deferred charges and accrued income | 490/1 | €3,495 | €1,913 | -€1,582 | -45.3% |
| Total equity and liabilities | 10/49 | €123,922 | €137,995 | +€14,073 | +11.4% |
| Equity | 10/15 | €56,520 | €75,936 | +€19,417 | +34.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,060 | €55,476 | +€19,417 | +53.8% |
| Amounts payable | 17/49 | €67,403 | €62,059 | -€5,344 | -7.9% |
| Amounts payable within one year | 42/48 | €67,403 | €62,059 | -€5,344 | -7.9% |
| Trade debts | 44 | €32,490 | €22,014 | -€10,476 | -32.2% |
| Suppliers | 440/4 | €32,490 | €22,014 | -€10,476 | -32.2% |
| Advances received on contracts in progress | 46 | €202 | €200 | -€3 | -1.3% |
| Taxes, remuneration and social security | 45 | €19,904 | €17,225 | -€2,679 | -13.5% |
| Taxes | 450/3 | €724 | €1,542 | +€818 | +113% |
| Remuneration and social security | 454/9 | €19,180 | €15,683 | -€3,497 | -18.2% |
| Other amounts payable | 47/48 | €14,806 | €22,620 | +€7,814 | +52.8% |
| Remuneration, social security and pensions | 62 | €132,750 | €147,650 | +€14,901 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,296 | €7,224 | +€1,928 | +36.4% |
| Other operating charges | 640/8 | €1,790 | €1,721 | -€69 | -3.9% |
| Gross operating margin | 9900 | €161,384 | €183,373 | +€21,989 | +13.6% |
| Operating profit (loss) | 9901 | €21,548 | €26,778 | +€5,230 | +24.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,639 | €2,587 | -€52 | -2.0% |
| Recurring financial charges | 65 | €2,639 | €2,587 | -€52 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €18,909 | €24,191 | +€5,282 | +27.9% |
| Income taxes | 67/77 | €140 | €3,915 | +€3,775 | +2,706% |
| Profit (loss) for the period | 9904 | €18,769 | €20,276 | +€1,506 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,769 | €20,276 | +€1,506 | +8.0% |
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 26 October 2026 via checked.be.