VINCOP: 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.
VINCOP
Largest movements
- Tangible fixed assets -€21,929
down €21,929 (-5.0%), from €437,011 to €415,082
- Cash -€5,466
down €5,466 (-88.5%), from €6,179 to €713
mainly Net result for the year (-€37,076) and Debts after one year (-€33,064)
- Other debts +€42,461
up €42,461 (+17.1%), from €248,725 to €291,187
- Profit (loss) carried forward -€37,076
down €37,076 (-27.4%), from -€135,535 to -€172,611
- Debts after one year -€33,064
down €33,064 (-26.9%), from €123,108 to €90,044
- Financial charges +€3,138
up €3,138 (+139.5%), from €2,250 to €5,388
- Gross operating margin +€220
up €220 (+7.5%), from -€2,927 to -€2,707
- Other operating charges +€195
up €195 (+2.9%), from €6,857 to €7,052
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 | €443,440 | €416,081 | -€27,359 | -6.2% |
| Fixed assets | 21/28 | €437,011 | €415,082 | -€21,929 | -5.0% |
| Tangible fixed assets | 22/27 | €437,011 | €415,082 | -€21,929 | -5.0% |
| Land and buildings | 22 | €437,011 | €415,082 | -€21,929 | -5.0% |
| Current assets | 29/58 | €6,429 | €999 | -€5,430 | -84.5% |
| Cash at bank and in hand | 54/58 | €6,179 | €713 | -€5,466 | -88.5% |
| Deferred charges and accrued income | 490/1 | €249 | €286 | +€37 | +14.8% |
| Total equity and liabilities | 10/49 | €443,440 | €416,081 | -€27,359 | -6.2% |
| Equity | 10/15 | €34,465 | -€2,611 | -€37,076 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €70,000 | €70,000 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,535 | -€172,611 | -€37,076 | -27.4% |
| Amounts payable | 17/49 | €408,974 | €418,692 | +€9,717 | +2.4% |
| Amounts payable after more than one year | 17 | €123,108 | €90,044 | -€33,064 | -26.9% |
| Financial debts | 170/4 | €123,108 | €90,044 | -€33,064 | -26.9% |
| Amounts payable within one year | 42/48 | €285,866 | €328,648 | +€42,782 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €32,688 | €33,064 | +€376 | +1.2% |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €4,453 | €4,386 | -€67 | -1.5% |
| Suppliers | 440/4 | €4,453 | €4,386 | -€67 | -1.5% |
| Other amounts payable | 47/48 | €248,725 | €291,187 | +€42,461 | +17.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,929 | €21,929 | = | 0.0% |
| Other operating charges | 640/8 | €6,857 | €7,052 | +€195 | +2.9% |
| Gross operating margin | 9900 | -€2,927 | -€2,707 | +€220 | +7.5% |
| Operating profit (loss) | 9901 | -€31,713 | -€31,688 | +€25 | +0.1% |
| Financial charges | 65/66B | €2,250 | €5,388 | +€3,138 | +139.5% |
| Recurring financial charges | 65 | €2,250 | €5,388 | +€3,138 | +139.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,963 | -€37,076 | -€3,113 | -9.2% |
| Profit (loss) for the period | 9904 | -€33,963 | -€37,076 | -€3,113 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,963 | -€37,076 | -€3,113 | -9.2% |
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 12 October 2026 via checked.be.