VINCKIER F.: 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.
VINCKIER F.
Largest movements
- Stocks and contracts +€125,663
up €125,663 (+69.5%), from €180,889 to €306,552
- Cash -€82,861
down €82,861 (-64.1%), from €129,341 to €46,480
mainly Stocks and contracts (-€125,663) and Contributions, distributions and other (-€18,706)
- Tangible fixed assets -€23,467
down €23,467 (-19.4%), from €120,874 to €97,408
of which Furniture and vehicles: -€15,705
- Receivables within one year -€8,790
down €8,790 (-13.6%), from €64,454 to €55,664
of which Trade receivables: -€4,566
- Reserves +€16,339
up €16,339 (+5.8%), from €281,447 to €297,786
- Debts after one year -€13,804
down €13,804 (-30.4%), from €45,390 to €31,586
- Trade debts +€11,247
up €11,247 (+510%), from €2,203 to €13,450
- Advances received -€7,559
no longer reported in 2025 (was €7,559)
- Gross operating margin +€36,238
up €36,238 (+73.1%), from €49,561 to €85,800
- Taxes +€13,537
up €13,537 (+414%), from €3,266 to €16,804
- Other operating charges -€1,368
down €1,368 (-16.4%), from €8,339 to €6,970
- Depreciation +€922
up €922 (+3.9%), from €23,855 to €24,777
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 | €498,229 | €508,867 | +€10,638 | +2.1% |
| Fixed assets | 21/28 | €120,874 | €97,408 | -€23,467 | -19.4% |
| Tangible fixed assets | 22/27 | €120,874 | €97,408 | -€23,467 | -19.4% |
| Land and buildings | 22 | €54,756 | €48,672 | -€6,084 | -11.1% |
| Plant, machinery and equipment | 23 | €5,113 | €3,435 | -€1,678 | -32.8% |
| Furniture and vehicles | 24 | €61,005 | €45,300 | -€15,705 | -25.7% |
| Current assets | 29/58 | €377,355 | €411,460 | +€34,105 | +9.0% |
| Stocks and contracts in progress | 3 | €180,889 | €306,552 | +€125,663 | +69.5% |
| Stocks | 30/36 | €180,889 | €306,552 | +€125,663 | +69.5% |
| Amounts receivable within one year | 40/41 | €64,454 | €55,664 | -€8,790 | -13.6% |
| Trade receivables | 40 | €55,480 | €50,914 | -€4,566 | -8.2% |
| Other amounts receivable | 41 | €8,974 | €4,751 | -€4,224 | -47.1% |
| Cash at bank and in hand | 54/58 | €129,341 | €46,480 | -€82,861 | -64.1% |
| Deferred charges and accrued income | 490/1 | €2,671 | €2,764 | +€93 | +3.5% |
| Total equity and liabilities | 10/49 | €498,229 | €508,867 | +€10,638 | +2.1% |
| Equity | 10/15 | €404,182 | €420,521 | +€16,339 | +4.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €281,447 | €297,786 | +€16,339 | +5.8% |
| Distributable reserves | 133 | €281,447 | €297,786 | +€16,339 | +5.8% |
| Profit (loss) carried forward | 14 | €103,735 | €103,735 | = | 0.0% |
| Amounts payable | 17/49 | €94,047 | €88,346 | -€5,700 | -6.1% |
| Amounts payable after more than one year | 17 | €45,390 | €31,586 | -€13,804 | -30.4% |
| Financial debts | 170/4 | €45,390 | €31,586 | -€13,804 | -30.4% |
| Amounts payable within one year | 42/48 | €46,309 | €56,406 | +€10,097 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €13,339 | €13,804 | +€466 | +3.5% |
| Trade debts | 44 | €2,203 | €13,450 | +€11,247 | +510% |
| Suppliers | 440/4 | €2,203 | €13,450 | +€11,247 | +510% |
| Advances received on contracts in progress | 46 | €7,559 | - | -€7,559 | |
| Taxes, remuneration and social security | 45 | €7,363 | €9,804 | +€2,440 | +33.1% |
| Taxes | 450/3 | €7,363 | €9,804 | +€2,440 | +33.1% |
| Other amounts payable | 47/48 | €15,845 | €19,348 | +€3,503 | +22.1% |
| Accrued charges and deferred income | 492/3 | €2,348 | €355 | -€1,993 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,855 | €24,777 | +€922 | +3.9% |
| Other operating charges | 640/8 | €8,339 | €6,970 | -€1,368 | -16.4% |
| Gross operating margin | 9900 | €49,561 | €85,800 | +€36,238 | +73.1% |
| Operating profit (loss) | 9901 | €17,368 | €54,053 | +€36,685 | +211% |
| Financial income | 75/76B | €89 | €1 | -€88 | -98.6% |
| Recurring financial income | 75 | €89 | €1 | -€88 | -98.6% |
| Financial charges | 65/66B | €2,284 | €2,205 | -€79 | -3.5% |
| Recurring financial charges | 65 | €2,284 | €2,205 | -€79 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €15,173 | €51,849 | +€36,676 | +242% |
| Income taxes | 67/77 | €3,266 | €16,804 | +€13,537 | +414% |
| Profit (loss) for the period | 9904 | €11,907 | €35,045 | +€23,138 | +194% |
| Profit (loss) for the period to be appropriated | 9905 | €11,907 | €35,045 | +€23,138 | +194% |
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 31 October 2026 via checked.be.