VINDAL: 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.
VINDAL
Largest movements
- Stocks and contracts -€30,115
down €30,115 (-14.6%), from €206,363 to €176,247
- Cash +€28,642
up €28,642 (+60.2%), from €47,555 to €76,197
mainly Stocks and contracts (+€30,115) and Depreciation (+€10,184)
- Other debts -€16,797
no longer reported in 2025 (was €16,797)
- Profit (loss) carried forward +€9,389
up €9,389 (+20.0%), from €46,831 to €56,220
- Depreciation +€7,372
up €7,372 (+262.1%), from €2,813 to €10,184
- Financial charges -€6,401
down €6,401 (-71.6%), from €8,946 to €2,545
- Gross operating margin +€5,961
up €5,961 (+36.1%), from €16,514 to €22,475
- Financial income +€4,923
up €4,923 (+617.2%), from €798 to €5,720
- Other operating charges -€2,466
down €2,466 (-43.7%), from €5,638 to €3,172
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 | €425,139 | €419,244 | -€5,895 | -1.4% |
| Fixed assets | 21/28 | €31,350 | €30,165 | -€1,184 | -3.8% |
| Tangible fixed assets | 22/27 | €31,350 | €30,165 | -€1,184 | -3.8% |
| Plant, machinery and equipment | 23 | €17,097 | €12,652 | -€4,444 | -26.0% |
| Furniture and vehicles | 24 | €14,253 | €17,513 | +€3,260 | +22.9% |
| Current assets | 29/58 | €393,790 | €389,079 | -€4,711 | -1.2% |
| Stocks and contracts in progress | 3 | €206,363 | €176,247 | -€30,115 | -14.6% |
| Stocks | 30/36 | €206,363 | €176,247 | -€30,115 | -14.6% |
| Amounts receivable within one year | 40/41 | €136,530 | €133,652 | -€2,878 | -2.1% |
| Trade receivables | 40 | €88,212 | €54,753 | -€33,459 | -37.9% |
| Other amounts receivable | 41 | €48,318 | €78,900 | +€30,582 | +63.3% |
| Cash at bank and in hand | 54/58 | €47,555 | €76,197 | +€28,642 | +60.2% |
| Deferred charges and accrued income | 490/1 | €3,342 | €2,983 | -€360 | -10.8% |
| Total equity and liabilities | 10/49 | €425,139 | €419,244 | -€5,895 | -1.4% |
| Equity | 10/15 | €288,331 | €297,720 | +€9,389 | +3.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €231,500 | €231,500 | = | 0.0% |
| Distributable reserves | 133 | €231,500 | €231,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,831 | €56,220 | +€9,389 | +20.0% |
| Amounts payable | 17/49 | €136,808 | €121,525 | -€15,284 | -11.2% |
| Amounts payable within one year | 42/48 | €136,808 | €121,525 | -€15,284 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €5,130 | €5,105 | -€25 | -0.5% |
| Trade debts | 44 | €111,270 | €110,768 | -€502 | -0.5% |
| Suppliers | 440/4 | €111,270 | €110,768 | -€502 | -0.5% |
| Taxes, remuneration and social security | 45 | €3,611 | €5,651 | +€2,041 | +56.5% |
| Taxes | 450/3 | €3,611 | €5,651 | +€2,041 | +56.5% |
| Other amounts payable | 47/48 | €16,797 | - | -€16,797 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,813 | €10,184 | +€7,372 | +262.1% |
| Other operating charges | 640/8 | €5,638 | €3,172 | -€2,466 | -43.7% |
| Gross operating margin | 9900 | €16,514 | €22,475 | +€5,961 | +36.1% |
| Operating profit (loss) | 9901 | €8,063 | €9,119 | +€1,056 | +13.1% |
| Financial income | 75/76B | €798 | €5,720 | +€4,923 | +617.2% |
| Recurring financial income | 75 | €798 | €5,720 | +€4,923 | +617.2% |
| Financial charges | 65/66B | €8,946 | €2,545 | -€6,401 | -71.6% |
| Recurring financial charges | 65 | €8,946 | €2,545 | -€6,401 | -71.6% |
| Profit (loss) for the period before taxes | 9903 | -€86 | €12,294 | +€12,380 | |
| Income taxes | 67/77 | €5,034 | €2,905 | -€2,128 | -42.3% |
| Profit (loss) for the period | 9904 | -€5,119 | €9,389 | +€14,508 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,119 | €9,389 | +€14,508 |
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 10 October 2026 via checked.be.