VINCO: 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.
VINCO
Largest movements
- Tangible fixed assets -€60,317
down €60,317 (-100.0%), from €60,317 to €0
- Receivables within one year +€53,344
up €53,344 (+15.4%), from €346,647 to €399,991
of which Other amounts receivable: +€57,749
- Deferred charges and accrued income -€10,980
down €10,980 (-44.7%), from €24,577 to €13,597
- Reserves +€18,835
up €18,835 (+5.4%), from €349,705 to €368,540
- Other debts -€17,572
down €17,572 (-100.0%), from €17,572 to €0
- Tax, wage and social debts -€13,372
down €13,372 (-47.3%), from €28,266 to €14,894
of which Taxes: -€10,213
- Trade debts -€12,610
down €12,610 (-58.9%), from €21,401 to €8,790
- Gross operating margin -€16,453
down €16,453 (-38.1%), from €43,177 to €26,724
- Depreciation -€8,856
down €8,856 (-100.0%), from €8,856 to €0
- Financial income -€7,435
down €7,435 (-35.6%), from €20,880 to €13,445
- Financial charges -€5,734
down €5,734 (-65.6%), from €8,737 to €3,004
- Taxes -€3,035
down €3,035 (-25.3%), from €11,991 to €8,956
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 | €435,543 | €413,588 | -€21,955 | -5.0% |
| Fixed assets | 21/28 | €60,317 | €0 | -€60,317 | -100.0% |
| Tangible fixed assets | 22/27 | €60,317 | €0 | -€60,317 | -100.0% |
| Land and buildings | 22 | €15,363 | €0 | -€15,363 | -100.0% |
| Plant, machinery and equipment | 23 | €29,748 | €0 | -€29,748 | -100.0% |
| Furniture and vehicles | 24 | €15,206 | €0 | -€15,206 | -100.0% |
| Current assets | 29/58 | €375,226 | €413,588 | +€38,362 | +10.2% |
| Stocks and contracts in progress | 3 | €3,971 | €0 | -€3,971 | -100.0% |
| Stocks | 30/36 | €3,971 | €0 | -€3,971 | -100.0% |
| Amounts receivable within one year | 40/41 | €346,647 | €399,991 | +€53,344 | +15.4% |
| Trade receivables | 40 | €14,209 | €9,803 | -€4,405 | -31.0% |
| Other amounts receivable | 41 | €332,438 | €390,187 | +€57,749 | +17.4% |
| Cash at bank and in hand | 54/58 | €31 | €0 | -€31 | -100.0% |
| Deferred charges and accrued income | 490/1 | €24,577 | €13,597 | -€10,980 | -44.7% |
| Total equity and liabilities | 10/49 | €435,543 | €413,588 | -€21,955 | -5.0% |
| Equity | 10/15 | €368,305 | €387,140 | +€18,835 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €349,705 | €368,540 | +€18,835 | +5.4% |
| Distributable reserves | 133 | €349,705 | €368,540 | +€18,835 | +5.4% |
| Amounts payable | 17/49 | €67,238 | €26,448 | -€40,790 | -60.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €67,238 | €26,048 | -€41,190 | -61.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €2,364 | +€2,364 | |
| Credit institutions | 430/8 | €0 | €2,364 | +€2,364 | |
| Trade debts | 44 | €21,401 | €8,790 | -€12,610 | -58.9% |
| Suppliers | 440/4 | €21,401 | €8,790 | -€12,610 | -58.9% |
| Taxes, remuneration and social security | 45 | €28,266 | €14,894 | -€13,372 | -47.3% |
| Taxes | 450/3 | €25,107 | €14,894 | -€10,213 | -40.7% |
| Remuneration and social security | 454/9 | €3,159 | €0 | -€3,159 | -100.0% |
| Other amounts payable | 47/48 | €17,572 | €0 | -€17,572 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | - | €14,148 | +€14,148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,856 | €0 | -€8,856 | -100.0% |
| Other operating charges | 640/8 | €4,508 | €3,520 | -€988 | -21.9% |
| Non-recurring operating charges | 66A | - | €5,854 | +€5,854 | |
| Gross operating margin | 9900 | €43,177 | €26,724 | -€16,453 | -38.1% |
| Operating profit (loss) | 9901 | €29,812 | €17,350 | -€12,463 | -41.8% |
| Financial income | 75/76B | €20,880 | €13,445 | -€7,435 | -35.6% |
| Recurring financial income | 75 | €20,880 | €13,445 | -€7,435 | -35.6% |
| Financial charges | 65/66B | €8,737 | €3,004 | -€5,734 | -65.6% |
| Recurring financial charges | 65 | €8,737 | €3,004 | -€5,734 | -65.6% |
| Profit (loss) for the period before taxes | 9903 | €41,955 | €27,791 | -€14,164 | -33.8% |
| Income taxes | 67/77 | €11,991 | €8,956 | -€3,035 | -25.3% |
| Profit (loss) for the period | 9904 | €29,964 | €18,835 | -€11,129 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,964 | €18,835 | -€11,129 | -37.1% |
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 8 October 2026 via checked.be.