VINCK: 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.
VINCK
Largest movements
- Receivables after one year +€398,193
up €398,193 (+889.4%), from €44,770 to €442,962
of which Trade receivables: +€442,962
- Current investments +€174,756
up €174,756 (+75.0%), from €233,124 to €407,880
- Tangible fixed assets -€75,853
down €75,853 (-6.1%), from €1.2m to €1.2m
of which Land and buildings: -€135,483
- Cash -€71,286
down €71,286 (-77.6%), from €91,853 to €20,567
- Financial fixed assets -€64,502
down €64,502 (-79.9%), from €80,742 to €16,240
- Reserves +€380,531
up €380,531 (+92.2%), from €412,537 to €793,067
of which Distributable reserves: +€381,386
- Other debts -€105,310
down €105,310 (-20.6%), from €512,118 to €406,808
- Tax, wage and social debts +€75,174
up €75,174 (+754.8%), from €9,960 to €85,134
- Debts after one year -€62,039
down €62,039 (-18.3%), from €339,163 to €277,124
- Current portion of long-term debt +€61,331
new in 2025: €61,331
- Gross operating margin +€378,548
up €378,548 (+307.6%), from €123,054 to €501,601
- Financial income +€221,197
up €221,197 (+5398.6%), from €4,097 to €225,294
of which Non-recurring financial income: +€188,513
- Taxes +€115,697
up €115,697 (+1454.2%), from €7,956 to €123,653
- Depreciation +€69,313
up €69,313 (+72.3%), from €95,931 to €165,244
- Financial charges +€23,878
up €23,878 (+137.6%), from €17,354 to €41,232
From the 2023 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 financial 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 | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,832,318 | €2,223,605 | +€391,288 | +21.4% |
| Fixed assets | 21/28 | €1,321,696 | €1,181,341 | -€140,355 | -10.6% |
| Tangible fixed assets | 22/27 | €1,240,953 | €1,165,101 | -€75,853 | -6.1% |
| Land and buildings | 22 | €1,219,044 | €1,083,561 | -€135,483 | -11.1% |
| Plant, machinery and equipment | 23 | €14,356 | €11,444 | -€2,912 | -20.3% |
| Furniture and vehicles | 24 | €7,554 | €70,096 | +€62,542 | +828.0% |
| Financial fixed assets | 28 | €80,742 | €16,240 | -€64,502 | -79.9% |
| Current assets | 29/58 | €510,622 | €1,042,264 | +€531,643 | +104.1% |
| Amounts receivable after more than one year | 29 | €44,770 | €442,962 | +€398,193 | +889.4% |
| Trade receivables | 290 | - | €442,962 | +€442,962 | |
| Other amounts receivable | 291 | €44,770 | €0 | -€44,770 | -100.0% |
| Amounts receivable within one year | 40/41 | €140,875 | €170,855 | +€29,980 | +21.3% |
| Trade receivables | 40 | €125,000 | €0 | -€125,000 | -100.0% |
| Other amounts receivable | 41 | €15,875 | €170,855 | +€154,980 | +976.2% |
| Current investments | 50/53 | €233,124 | €407,880 | +€174,756 | +75.0% |
| Cash at bank and in hand | 54/58 | €91,853 | €20,567 | -€71,286 | -77.6% |
| Total equity and liabilities | 10/49 | €1,832,318 | €2,223,605 | +€391,288 | +21.4% |
| Equity | 10/15 | €944,214 | €1,324,744 | +€380,531 | +40.3% |
| Contributions | 10/11 | €295,405 | €295,405 | = | 0.0% |
| Reserves | 13 | €412,537 | €793,067 | +€380,531 | +92.2% |
| Non-distributable reserves | 130/1 | - | €9,360 | +€9,360 | |
| Reserves not available under the articles | 1311 | - | €9,360 | +€9,360 | |
| Tax-exempt reserves | 132 | €114,604 | €104,389 | -€10,215 | -8.9% |
| Distributable reserves | 133 | €297,932 | €679,318 | +€381,386 | +128.0% |
| Profit (loss) carried forward | 14 | €236,272 | €236,272 | -€0 | 0.0% |
| Provisions and deferred taxes | 16 | €25,701 | €22,296 | -€3,405 | -13.2% |
| Deferred taxes | 168 | €25,701 | €22,296 | -€3,405 | -13.2% |
| Amounts payable | 17/49 | €862,403 | €876,565 | +€14,162 | +1.6% |
| Amounts payable after more than one year | 17 | €339,163 | €277,124 | -€62,039 | -18.3% |
| Financial debts | 170/4 | €339,163 | €277,124 | -€62,039 | -18.3% |
| Amounts payable within one year | 42/48 | €523,239 | €599,441 | +€76,201 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | - | €61,331 | +€61,331 | |
| Financial debts | 43 | - | €40,026 | +€40,026 | |
| Credit institutions | 430/8 | - | €40,026 | +€40,026 | |
| Trade debts | 44 | €1,161 | €6,142 | +€4,980 | +428.8% |
| Suppliers | 440/4 | €1,161 | €6,142 | +€4,980 | +428.8% |
| Taxes, remuneration and social security | 45 | €9,960 | €85,134 | +€75,174 | +754.8% |
| Taxes | 450/3 | €9,960 | €85,134 | +€75,174 | +754.8% |
| Other amounts payable | 47/48 | €512,118 | €406,808 | -€105,310 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,931 | €165,244 | +€69,313 | +72.3% |
| Other operating charges | 640/8 | €4,538 | €19,641 | +€15,104 | +332.8% |
| Gross operating margin | 9900 | €123,054 | €501,601 | +€378,548 | +307.6% |
| Operating profit (loss) | 9901 | €22,585 | €316,716 | +€294,132 | +1302.3% |
| Financial income | 75/76B | €4,097 | €225,294 | +€221,197 | +5398.6% |
| Recurring financial income | 75 | €4,097 | €36,781 | +€32,684 | +797.7% |
| Non-recurring financial income | 76B | - | €188,513 | +€188,513 | |
| Financial charges | 65/66B | €17,354 | €41,232 | +€23,878 | +137.6% |
| Recurring financial charges | 65 | €17,354 | €41,232 | +€23,878 | +137.6% |
| Profit (loss) for the period before taxes | 9903 | €9,328 | €500,779 | +€491,450 | +5268.3% |
| Transfer from deferred taxes | 780 | €1,946 | €3,405 | +€1,459 | +75.0% |
| Income taxes | 67/77 | €7,956 | €123,653 | +€115,697 | +1454.2% |
| Profit (loss) for the period | 9904 | €3,318 | €380,531 | +€377,213 | +11368.7% |
| Transfer from tax-exempt reserves | 789 | €5,837 | €10,215 | +€4,378 | +75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,155 | €390,746 | +€381,591 | +4168.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.