Vincere: what changed
Two fiscal 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.
Vincere
Largest movements
- Receivables within one year -€54,000
down €54,000 (-94.7%), from €57,000 to €3,000
- Cash +€9,340
up €9,340 (+142.1%), from €6,574 to €15,914
- Other debts -€42,634
down €42,634 (-44.3%), from €96,301 to €53,667
- Profit (loss) carried forward -€2,027
down €2,027 (-3.3%), from -€62,329 to -€64,355
- Gross operating margin +€373
no longer reported in 2025 (was -€373)
- Other operating charges -€305
down €305 (-67.9%), from €450 to €144
- Financial charges -€37
down €37 (-19.5%), from €190 to €153
From the 2022 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,574 | €18,914 | -€44,660 | -70.2% |
| Current assets | 29/58 | €63,574 | €18,914 | -€44,660 | -70.2% |
| Amounts receivable within one year | 40/41 | €57,000 | €3,000 | -€54,000 | -94.7% |
| Trade receivables | 40 | €57,000 | €3,000 | -€54,000 | -94.7% |
| Cash at bank and in hand | 54/58 | €6,574 | €15,914 | +€9,340 | +142.1% |
| Total equity and liabilities | 10/49 | €63,574 | €18,914 | -€44,660 | -70.2% |
| Equity | 10/15 | -€32,727 | -€34,754 | -€2,027 | -6.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Share premium | 1100/10 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,601 | €4,601 | = | 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 | €2,101 | €2,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,329 | -€64,355 | -€2,027 | -3.3% |
| Amounts payable | 17/49 | €96,301 | €53,667 | -€42,634 | -44.3% |
| Amounts payable within one year | 42/48 | €96,301 | €53,667 | -€42,634 | -44.3% |
| Other amounts payable | 47/48 | €96,301 | €53,667 | -€42,634 | -44.3% |
| Other operating charges | 640/8 | €450 | €144 | -€305 | -67.9% |
| Gross operating margin | 9900 | -€373 | - | +€373 | |
| Operating profit (loss) | 9901 | -€823 | -€144 | +€679 | +82.5% |
| Financial charges | 65/66B | €190 | €153 | -€37 | -19.5% |
| Recurring financial charges | 65 | €190 | €153 | -€37 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,013 | -€297 | +€716 | +70.6% |
| Profit (loss) for the period | 9904 | -€1,013 | -€297 | +€716 | +70.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,013 | -€297 | +€716 | +70.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.