VINEAM: 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.
What changed
VINEAM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€64,003
2024 · -€87,518+€151,521
Equity
€613,212
2024 · €549,209+€64,003
Cash
€56,808
2024 · €59,447-€2,639
Balance sheet total
€5.7m
2024 · €5.9m-€198,037
Largest movements
Assets
- Tangible fixed assets -€241,392
down €241,392 (-4.1%), from €5.8m to €5.6m
of which Land and buildings: -€204,288
Equity and liabilities
- Debts after one year -€360,600
down €360,600 (-14.7%), from €2.4m to €2.1m
- Other debts +€91,277
up €91,277 (+3.6%), from €2.6m to €2.7m
- Profit (loss) carried forward +€87,518
no longer reported in 2025 (was -€87,518)
Income statement
- Turnover +€132,479
up €132,479 (+30.9%), from €428,657 to €561,136
- Financial charges -€40,562
down €40,562 (-21.5%), from €188,478 to €147,916
- Other operating charges +€16,412
up €16,412 (+42.0%), from €39,057 to €55,469
- Services and other goods +€5,649
up €5,649 (+7.8%), from €72,793 to €78,442
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.
Result 2024
-€87,518
Turnover
+€132,479
Other operating income
+€1,406
Services and other goods
-€5,649
Depreciation
+€1
Other operating charges
-€16,412
Other operating items
-€428
Financial income
-€474
Financial charges
+€40,562
Taxes
+€35
Result 2025
€64,003
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€368,327
Investment
€0
Financing
-€370,967
Cash 2024
€59,447
From operations (derived)
+€368,327
Net result for the year
+€64,003
Depreciation
+€241,392
Receivables within one year
-€46,900
Deferred charges and accrued income
+€906
Trade debts
+€16,479
Tax, wage and social debts
+€1,520
Other debts
+€91,277
Accrued charges and deferred income
-€349
Financing
-€370,967
Debts after one year
-€360,600
Current portion of long-term debt
-€10,366
Cash 2025
€56,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,940,819 | €5,742,782 | -€198,037 | -3.3% |
| Fixed assets | 21/28 | €5,838,732 | €5,597,340 | -€241,392 | -4.1% |
| Tangible fixed assets | 22/27 | €5,838,732 | €5,597,340 | -€241,392 | -4.1% |
| Land and buildings | 22 | €5,773,321 | €5,569,033 | -€204,288 | -3.5% |
| Furniture and vehicles | 24 | €35,081 | €10,398 | -€24,682 | -70.4% |
| Leasing and similar rights | 25 | €30,331 | €17,909 | -€12,422 | -41.0% |
| Current assets | 29/58 | €102,087 | €145,442 | +€43,355 | +42.5% |
| Amounts receivable within one year | 40/41 | €37,336 | €84,236 | +€46,900 | +126% |
| Trade receivables | 40 | €2,968 | €37,294 | +€34,326 | +1,156% |
| Other amounts receivable | 41 | €34,368 | €46,942 | +€12,574 | +36.6% |
| Cash at bank and in hand | 54/58 | €59,447 | €56,808 | -€2,639 | -4.4% |
| Deferred charges and accrued income | 490/1 | €5,304 | €4,398 | -€906 | -17.1% |
| Total equity and liabilities | 10/49 | €5,940,819 | €5,742,782 | -€198,037 | -3.3% |
| Equity | 10/15 | €549,209 | €613,212 | +€64,003 | +11.7% |
| Contributions | 10/11 | €21,962 | €21,962 | = | 0.0% |
| Reserves | 13 | €614,765 | €591,250 | -€23,515 | -3.8% |
| Tax-exempt reserves | 132 | €1,979 | €1,979 | = | 0.0% |
| Distributable reserves | 133 | €612,787 | €589,271 | -€23,515 | -3.8% |
| Profit (loss) carried forward | 14 | -€87,518 | - | +€87,518 | |
| Amounts payable | 17/49 | €5,391,610 | €5,129,570 | -€262,040 | -4.9% |
| Amounts payable after more than one year | 17 | €2,449,783 | €2,089,183 | -€360,600 | -14.7% |
| Financial debts | 170/4 | €2,449,783 | €2,089,183 | -€360,600 | -14.7% |
| Leasing and similar obligations | 172 | €6,668 | - | -€6,668 | |
| Credit institutions | 173 | €2,443,115 | €2,089,183 | -€353,932 | -14.5% |
| Amounts payable within one year | 42/48 | €2,941,478 | €3,040,387 | +€98,910 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €369,641 | €359,275 | -€10,366 | -2.8% |
| Trade debts | 44 | €4,996 | €21,475 | +€16,479 | +330% |
| Suppliers | 440/4 | €4,996 | €21,475 | +€16,479 | +330% |
| Taxes, remuneration and social security | 45 | €2,845 | €4,364 | +€1,520 | +53.4% |
| Taxes | 450/3 | €2,845 | €4,364 | +€1,520 | +53.4% |
| Other amounts payable | 47/48 | €2,563,996 | €2,655,273 | +€91,277 | +3.6% |
| Accrued charges and deferred income | 492/3 | €349 | - | -€349 | |
| Operating income | 70/76A | €453,336 | €587,221 | +€133,885 | +29.5% |
| Turnover | 70 | €428,657 | €561,136 | +€132,479 | +30.9% |
| Other operating income | 74 | €24,679 | €26,086 | +€1,406 | +5.7% |
| Operating charges | 60/66A | €353,243 | €375,731 | +€22,488 | +6.4% |
| Services and other goods | 61 | €72,793 | €78,442 | +€5,649 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €241,393 | €241,392 | -€1 | 0.0% |
| Other operating charges | 640/8 | €39,057 | €55,469 | +€16,412 | +42.0% |
| Non-recurring operating charges | 66A | - | €428 | +€428 | |
| Operating profit (loss) | 9901 | €100,093 | €211,490 | +€111,397 | +111% |
| Financial income | 75/76B | €2,003 | €1,529 | -€474 | -23.6% |
| Recurring financial income | 75 | €2,003 | €1,529 | -€474 | -23.6% |
| Income from current assets | 751 | €1,575 | €1,529 | -€46 | -2.9% |
| Other financial income | 752/9 | €428 | - | -€428 | |
| Financial charges | 65/66B | €188,478 | €147,916 | -€40,562 | -21.5% |
| Recurring financial charges | 65 | €188,478 | €147,916 | -€40,562 | -21.5% |
| Debt charges | 650 | €188,478 | €146,947 | -€41,531 | -22.0% |
| Other financial charges | 652/9 | - | €969 | +€969 | |
| Profit (loss) for the period before taxes | 9903 | -€86,382 | €65,103 | +€151,485 | |
| Income taxes | 67/77 | €1,136 | €1,101 | -€35 | -3.1% |
| Taxes | 670/3 | €1,136 | €1,101 | -€35 | -3.1% |
| Profit (loss) for the period | 9904 | -€87,518 | €64,003 | +€151,521 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,518 | €64,003 | +€151,521 |
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 18 October 2026 via checked.be.