VINEX: 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.
VINEX
Largest movements
- Tangible fixed assets -€15,441
down €15,441 (-16.1%), from €95,721 to €80,280
of which Plant, machinery and equipment: -€9,665
- Receivables within one year +€11,168
up €11,168 (+20.2%), from €55,300 to €66,468
of which Trade receivables: +€15,165
- Deferred charges and accrued income -€10,221
down €10,221 (-54.5%), from €18,767 to €8,546
- Other debts +€49,640
up €49,640 (+26.9%), from €184,603 to €234,243
- Trade debts -€32,663
down €32,663 (-9.2%), from €356,310 to €323,647
- Debts after one year -€23,399
down €23,399 (-60.5%), from €38,693 to €15,294
- Tax, wage and social debts -€6,298
no longer reported in 2025 (was €6,298)
- Other operating charges -€47,229
down €47,229 (-72.0%), from €65,553 to €18,324
- Staff costs -€33,690
down €33,690 (-59.1%), from €57,034 to €23,344
- Gross operating margin +€6,153
up €6,153 (+9.2%), from €67,033 to €73,186
- Financial income -€4,061
down €4,061 (-61.3%), from €6,623 to €2,562
- Financial charges +€3,132
up €3,132 (+24.0%), from €13,030 to €16,162
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,518 | €385,923 | -€13,595 | -3.4% |
| Fixed assets | 21/28 | €95,721 | €80,280 | -€15,441 | -16.1% |
| Tangible fixed assets | 22/27 | €95,721 | €80,280 | -€15,441 | -16.1% |
| Plant, machinery and equipment | 23 | €52,067 | €42,401 | -€9,665 | -18.6% |
| Furniture and vehicles | 24 | €133 | €0 | -€133 | -100% |
| Leasing and similar rights | 25 | €43,522 | €37,879 | -€5,643 | -13.0% |
| Current assets | 29/58 | €303,796 | €305,643 | +€1,847 | +0.6% |
| Stocks and contracts in progress | 3 | €229,119 | €230,629 | +€1,510 | +0.7% |
| Stocks | 30/36 | €229,119 | €230,629 | +€1,510 | +0.7% |
| Amounts receivable within one year | 40/41 | €55,300 | €66,468 | +€11,168 | +20.2% |
| Trade receivables | 40 | €19,768 | €34,933 | +€15,165 | +76.7% |
| Other amounts receivable | 41 | €35,532 | €31,535 | -€3,997 | -11.2% |
| Cash at bank and in hand | 54/58 | €611 | €0 | -€611 | -100% |
| Deferred charges and accrued income | 490/1 | €18,767 | €8,546 | -€10,221 | -54.5% |
| Total equity and liabilities | 10/49 | €399,518 | €385,923 | -€13,595 | -3.4% |
| Equity | 10/15 | -€290,724 | -€288,247 | +€2,477 | +0.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €29,821 | €29,821 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €27,821 | €27,821 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€340,545 | -€338,068 | +€2,477 | +0.7% |
| Amounts payable | 17/49 | €690,241 | €674,170 | -€16,071 | -2.3% |
| Amounts payable after more than one year | 17 | €38,693 | €15,294 | -€23,399 | -60.5% |
| Financial debts | 170/4 | €38,693 | €15,294 | -€23,399 | -60.5% |
| Amounts payable within one year | 42/48 | €651,548 | €658,876 | +€7,328 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €24,722 | €25,023 | +€301 | +1.2% |
| Financial debts | 43 | €79,615 | €75,963 | -€3,652 | -4.6% |
| Credit institutions | 430/8 | €79,615 | €75,963 | -€3,652 | -4.6% |
| Trade debts | 44 | €356,310 | €323,647 | -€32,663 | -9.2% |
| Suppliers | 440/4 | €356,310 | €323,647 | -€32,663 | -9.2% |
| Taxes, remuneration and social security | 45 | €6,298 | - | -€6,298 | |
| Remuneration and social security | 454/9 | €6,298 | - | -€6,298 | |
| Other amounts payable | 47/48 | €184,603 | €234,243 | +€49,640 | +26.9% |
| Remuneration, social security and pensions | 62 | €57,034 | €23,344 | -€33,690 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,611 | €15,441 | -€170 | -1.1% |
| Other operating charges | 640/8 | €65,553 | €18,324 | -€47,229 | -72.0% |
| Non-recurring operating charges | 66A | €1,548 | - | -€1,548 | |
| Gross operating margin | 9900 | €67,033 | €73,186 | +€6,153 | +9.2% |
| Operating profit (loss) | 9901 | -€72,712 | €16,077 | +€88,789 | |
| Financial income | 75/76B | €6,623 | €2,562 | -€4,061 | -61.3% |
| Recurring financial income | 75 | €6,623 | €2,562 | -€4,061 | -61.3% |
| Financial charges | 65/66B | €13,030 | €16,162 | +€3,132 | +24.0% |
| Recurring financial charges | 65 | €13,030 | €16,162 | +€3,132 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | -€79,119 | €2,477 | +€81,595 | |
| Profit (loss) for the period | 9904 | -€79,119 | €2,477 | +€81,595 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,119 | €2,477 | +€81,595 |
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 17 October 2026 via checked.be.