VINCH: 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.
VINCH
Largest movements
- Receivables within one year -€133,738
down €133,738 (-93.2%), from €143,443 to €9,705
of which Other amounts receivable: -€122,343
- Cash -€66,371
down €66,371 (-49.9%), from €133,108 to €66,737
mainly Net result for the year (-€174,716) and Investment in fixed assets (net) (-€39,505)
- Financial fixed assets -€22,000
down €22,000 (-99.8%), from €22,041 to €41
- Tangible fixed assets +€12,035
up €12,035 (+1.8%), from €652,124 to €664,159
of which Other tangible fixed assets: +€14,714
- Profit (loss) carried forward -€174,716
down €174,716 (-51.9%), from €336,318 to €161,602
- Trade debts -€17,727
down €17,727 (-88.8%), from €19,969 to €2,242
- Debts after one year -€16,360
down €16,360 (-6.6%), from €246,602 to €230,242
- Other operating charges +€119,135
up €119,135 (+7921.2%), from €1,504 to €120,639
- Gross operating margin -€59,009
down €59,009 (-71.0%), from €83,064 to €24,055
- Financial charges +€22,342
up €22,342 (+357.7%), from €6,246 to €28,588
of which Non-recurring financial charges: +€22,000
- Depreciation -€14,268
down €14,268 (-22.4%), from €63,738 to €49,470
- Financial income -€12,627
down €12,627 (-99.4%), from €12,702 to €75
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 | €1,202,834 | €992,815 | -€210,019 | -17.5% |
| Fixed assets | 21/28 | €674,165 | €664,200 | -€9,965 | -1.5% |
| Tangible fixed assets | 22/27 | €652,124 | €664,159 | +€12,035 | +1.8% |
| Land and buildings | 22 | €614,949 | €621,422 | +€6,473 | +1.1% |
| Furniture and vehicles | 24 | €37,175 | €28,023 | -€9,152 | -24.6% |
| Other tangible fixed assets | 26 | - | €14,714 | +€14,714 | |
| Financial fixed assets | 28 | €22,041 | €41 | -€22,000 | -99.8% |
| Current assets | 29/58 | €528,669 | €328,615 | -€200,054 | -37.8% |
| Amounts receivable within one year | 40/41 | €143,443 | €9,705 | -€133,738 | -93.2% |
| Trade receivables | 40 | €11,395 | - | -€11,395 | |
| Other amounts receivable | 41 | €132,048 | €9,705 | -€122,343 | -92.7% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €133,108 | €66,737 | -€66,371 | -49.9% |
| Deferred charges and accrued income | 490/1 | €2,118 | €2,173 | +€55 | +2.6% |
| Total equity and liabilities | 10/49 | €1,202,834 | €992,815 | -€210,019 | -17.5% |
| Equity | 10/15 | €356,778 | €182,062 | -€174,716 | -49.0% |
| 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 | €336,318 | €161,602 | -€174,716 | -51.9% |
| Amounts payable | 17/49 | €846,056 | €810,753 | -€35,303 | -4.2% |
| Amounts payable after more than one year | 17 | €246,602 | €230,242 | -€16,360 | -6.6% |
| Financial debts | 170/4 | €246,602 | €230,242 | -€16,360 | -6.6% |
| Amounts payable within one year | 42/48 | €596,757 | €579,466 | -€17,291 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €15,983 | €16,360 | +€377 | +2.4% |
| Trade debts | 44 | €19,969 | €2,242 | -€17,727 | -88.8% |
| Suppliers | 440/4 | €19,969 | €2,242 | -€17,727 | -88.8% |
| Taxes, remuneration and social security | 45 | €586 | - | -€586 | |
| Taxes | 450/3 | €586 | - | -€586 | |
| Other amounts payable | 47/48 | €560,219 | €560,864 | +€645 | +0.1% |
| Accrued charges and deferred income | 492/3 | €2,697 | €1,045 | -€1,652 | -61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,738 | €49,470 | -€14,268 | -22.4% |
| Other operating charges | 640/8 | €1,504 | €120,639 | +€119,135 | +7921.2% |
| Gross operating margin | 9900 | €83,064 | €24,055 | -€59,009 | -71.0% |
| Operating profit (loss) | 9901 | €17,822 | -€146,054 | -€163,876 | |
| Financial income | 75/76B | €12,702 | €75 | -€12,627 | -99.4% |
| Recurring financial income | 75 | €12,702 | €75 | -€12,627 | -99.4% |
| Financial charges | 65/66B | €6,246 | €28,588 | +€22,342 | +357.7% |
| Recurring financial charges | 65 | €6,246 | €6,588 | +€342 | +5.5% |
| Non-recurring financial charges | 66B | - | €22,000 | +€22,000 | |
| Profit (loss) for the period before taxes | 9903 | €24,278 | -€174,567 | -€198,845 | |
| Income taxes | 67/77 | €7,487 | €149 | -€7,338 | -98.0% |
| Profit (loss) for the period | 9904 | €16,791 | -€174,716 | -€191,507 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,791 | -€174,716 | -€191,507 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.