VINEMCO: 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.
VINEMCO
Largest movements
- Cash -€50,840
down €50,840 (-36.2%), from €140,486 to €89,646
mainly Contributions, distributions and other (-€260,000) and Deferred charges and accrued income (-€22,480)
- Deferred charges and accrued income +€22,480
up €22,480 (+1879.7%), from €1,196 to €23,676
- Receivables within one year +€4,218
up €4,218 (+17.9%), from €23,612 to €27,830
of which Trade receivables: +€4,823
- Current investments +€3,465
up €3,465 (+2.3%), from €150,000 to €153,465
- Reserves -€208,322
down €208,322 (-97.7%), from €213,267 to €4,945
- Other debts +€183,437
up €183,437 (+208.5%), from €87,983 to €271,420
- Gross operating margin -€7,714
down €7,714 (-10.3%), from €75,027 to €67,313
- Financial income +€4,618
new in 2025: €4,618
- Financial charges -€1,063
down €1,063 (-35.8%), from €2,968 to €1,905
- Taxes -€774
down €774 (-5.0%), from €15,435 to €14,660
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 | €320,573 | €296,729 | -€23,844 | -7.4% |
| Fixed assets | 21/28 | €5,280 | €2,112 | -€3,168 | -60.0% |
| Tangible fixed assets | 22/27 | €5,280 | €2,112 | -€3,168 | -60.0% |
| Furniture and vehicles | 24 | €5,280 | €2,112 | -€3,168 | -60.0% |
| Current assets | 29/58 | €315,294 | €294,617 | -€20,676 | -6.6% |
| Amounts receivable within one year | 40/41 | €23,612 | €27,830 | +€4,218 | +17.9% |
| Trade receivables | 40 | €23,008 | €27,830 | +€4,823 | +21.0% |
| Other amounts receivable | 41 | €604 | - | -€604 | |
| Current investments | 50/53 | €150,000 | €153,465 | +€3,465 | +2.3% |
| Cash at bank and in hand | 54/58 | €140,486 | €89,646 | -€50,840 | -36.2% |
| Deferred charges and accrued income | 490/1 | €1,196 | €23,676 | +€22,480 | +1879.7% |
| Total equity and liabilities | 10/49 | €320,573 | €296,729 | -€23,844 | -7.4% |
| Equity | 10/15 | €223,267 | €14,945 | -€208,322 | -93.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €213,267 | €4,945 | -€208,322 | -97.7% |
| Distributable reserves | 133 | €213,267 | €4,945 | -€208,322 | -97.7% |
| Amounts payable | 17/49 | €97,306 | €281,784 | +€184,478 | +189.6% |
| Amounts payable within one year | 42/48 | €95,123 | €280,389 | +€185,266 | +194.8% |
| Trade debts | 44 | €46 | €490 | +€444 | +960.8% |
| Suppliers | 440/4 | €46 | €490 | +€444 | +960.8% |
| Taxes, remuneration and social security | 45 | €7,093 | €8,479 | +€1,385 | +19.5% |
| Taxes | 450/3 | €7,093 | €8,479 | +€1,385 | +19.5% |
| Other amounts payable | 47/48 | €87,983 | €271,420 | +€183,437 | +208.5% |
| Accrued charges and deferred income | 492/3 | €2,183 | €1,395 | -€788 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,168 | €3,168 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €75,027 | €67,313 | -€7,714 | -10.3% |
| Operating profit (loss) | 9901 | €71,354 | €63,625 | -€7,729 | -10.8% |
| Financial income | 75/76B | - | €4,618 | +€4,618 | |
| Recurring financial income | 75 | - | €4,618 | +€4,618 | |
| Financial charges | 65/66B | €2,968 | €1,905 | -€1,063 | -35.8% |
| Recurring financial charges | 65 | €2,968 | €1,905 | -€1,063 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €68,386 | €66,338 | -€2,048 | -3.0% |
| Income taxes | 67/77 | €15,435 | €14,660 | -€774 | -5.0% |
| Profit (loss) for the period | 9904 | €52,952 | €51,678 | -€1,274 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,952 | €51,678 | -€1,274 | -2.4% |
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 5 October 2026 via checked.be.