VINESCO: 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.
What changed
VINESCO
NACE 08.122, Other mining and quarrying
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€66,704
2024 · -€80,898+€14,194
Equity
€1.7m
2024 · €1.7m-€66,704
Cash
€407,236
2024 · €508,533-€101,296
Balance sheet total
€3.7m
2024 · €3.8m-€102,657
Largest movements
Assets
- Cash -€101,296
down €101,296 (-19.9%), from €508,533 to €407,236
mainly Net result for the year (-€66,704) and Trade debts (-€37,045)
Equity and liabilities
- Reserves -€66,704
down €66,704 (-30.6%), from €218,214 to €151,510
of which Distributable reserves: -€66,704
Income statement
- Gross operating margin +€15,073
up €15,073 (+28.3%), from -€53,317 to -€38,244
- Financial income -€869
down €869 (-24.2%), from €3,595 to €2,727
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
-€80,898
Gross operating margin
+€15,073
Depreciation
-€158
Other operating charges
-€116
Financial income
-€869
Financial charges
+€247
Taxes
+€16
Result 2025
-€66,704
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.
From operations
-€101,994
Investment
+€698
Financing
€0
Cash 2024
€508,533
From operations (derived)
-€101,994
Net result for the year
-€66,704
Depreciation
+€20,277
Stocks and contracts
-€17,844
Receivables within one year
+€471
Deferred charges and accrued income
-€2,242
Trade debts
-€37,045
Other debts
-€890
Accrued charges and deferred income
+€1,982
Investment (derived)
+€698
Investment in fixed assets (net)
+€698
Cash 2025
€407,236
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,765,662 | €3,663,005 | -€102,657 | -2.7% |
| Fixed assets | 21/28 | €2,891,067 | €2,870,093 | -€20,975 | -0.7% |
| Tangible fixed assets | 22/27 | €2,891,067 | €2,870,093 | -€20,975 | -0.7% |
| Land and buildings | 22 | €2,860,608 | €2,857,718 | -€2,890 | -0.1% |
| Plant, machinery and equipment | 23 | €661 | €168 | -€493 | -74.6% |
| Furniture and vehicles | 24 | €29,798 | €12,207 | -€17,591 | -59.0% |
| Current assets | 29/58 | €874,595 | €792,912 | -€81,682 | -9.3% |
| Stocks and contracts in progress | 3 | €323,074 | €340,918 | +€17,844 | +5.5% |
| Stocks | 30/36 | €323,074 | €340,918 | +€17,844 | +5.5% |
| Amounts receivable within one year | 40/41 | €1,279 | €807 | -€471 | -36.9% |
| Other amounts receivable | 41 | €1,279 | €807 | -€471 | -36.9% |
| Cash at bank and in hand | 54/58 | €508,533 | €407,236 | -€101,296 | -19.9% |
| Deferred charges and accrued income | 490/1 | €41,709 | €43,951 | +€2,242 | +5.4% |
| Total equity and liabilities | 10/49 | €3,765,662 | €3,663,005 | -€102,657 | -2.7% |
| Equity | 10/15 | €1,728,214 | €1,661,510 | -€66,704 | -3.9% |
| Contributions | 10/11 | €1,510,000 | €1,510,000 | = | 0.0% |
| Capital | 10 | €1,510,000 | €1,510,000 | = | 0.0% |
| Issued capital | 100 | €1,510,000 | €1,510,000 | = | 0.0% |
| Reserves | 13 | €218,214 | €151,510 | -€66,704 | -30.6% |
| Non-distributable reserves | 130/1 | €77,631 | €77,631 | = | 0.0% |
| Legal reserve | 130 | €77,631 | €77,631 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,639 | €12,639 | = | 0.0% |
| Distributable reserves | 133 | €127,944 | €61,240 | -€66,704 | -52.1% |
| Amounts payable | 17/49 | €2,037,448 | €2,001,495 | -€35,953 | -1.8% |
| Amounts payable after more than one year | 17 | €1,500,000 | €1,500,000 | = | 0.0% |
| Financial debts | 170/4 | €1,500,000 | €1,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €532,499 | €494,564 | -€37,936 | -7.1% |
| Trade debts | 44 | €41,622 | €4,576 | -€37,045 | -89.0% |
| Suppliers | 440/4 | €41,622 | €4,576 | -€37,045 | -89.0% |
| Other amounts payable | 47/48 | €490,878 | €489,987 | -€890 | -0.2% |
| Accrued charges and deferred income | 492/3 | €4,949 | €6,932 | +€1,982 | +40.1% |
| Non-recurring operating income | 76A | - | €102 | +€102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,119 | €20,277 | +€158 | +0.8% |
| Other operating charges | 640/8 | €10,174 | €10,290 | +€116 | +1.1% |
| Gross operating margin | 9900 | -€53,317 | -€38,244 | +€15,073 | +28.3% |
| Operating profit (loss) | 9901 | -€83,610 | -€68,811 | +€14,799 | +17.7% |
| Financial income | 75/76B | €3,595 | €2,727 | -€869 | -24.2% |
| Recurring financial income | 75 | €3,595 | €2,727 | -€869 | -24.2% |
| Financial charges | 65/66B | €656 | €409 | -€247 | -37.7% |
| Recurring financial charges | 65 | €656 | €409 | -€247 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | -€80,671 | -€66,493 | +€14,178 | +17.6% |
| Income taxes | 67/77 | €227 | €211 | -€16 | -7.0% |
| Profit (loss) for the period | 9904 | -€80,898 | -€66,704 | +€14,194 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,898 | -€66,704 | +€14,194 | +17.5% |
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 7 October 2026 via checked.be.