VINEX.XA: 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.XA
Largest movements
- Stocks and contracts -€764,280
no longer reported in 2025 (was €764,280)
- Current investments +€550,000
new in 2025: €550,000
- Receivables within one year +€139,590
up €139,590 (+105%), from €132,654 to €272,244
of which Other amounts receivable: +€142,611
- Receivables after one year +€94,440
new in 2025: €94,440
- Reserves +€229,375
up €229,375 (+371%), from €61,860 to €291,235
- Debts after one year -€130,000
down €130,000 (-27.9%), from €466,000 to €336,000
- Trade debts -€58,867
down €58,867 (-32.8%), from €179,342 to €120,475
- Tax, wage and social debts -€12,869
down €12,869 (-41.8%), from €30,812 to €17,942
of which Taxes: -€16,569
- Gross operating margin +€258,364
up €258,364 (+240%), from €107,568 to €365,932
- Taxes +€83,622
up €83,622 (+474%), from €17,646 to €101,268
- Other operating charges -€16,405
down €16,405 (-45.8%), from €35,843 to €19,439
- Financial income +€4,348
up €4,348 (+477%), from €911 to €5,259
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 | €950,554 | €986,212 | +€35,658 | +3.8% |
| Fixed assets | 21/28 | €1,343 | €1,064 | -€278 | -20.7% |
| Tangible fixed assets | 22/27 | €843 | €564 | -€278 | -33.0% |
| Plant, machinery and equipment | 23 | €843 | €564 | -€278 | -33.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €949,211 | €985,147 | +€35,936 | +3.8% |
| Amounts receivable after more than one year | 29 | - | €94,440 | +€94,440 | |
| Other amounts receivable | 291 | - | €94,440 | +€94,440 | |
| Stocks and contracts in progress | 3 | €764,280 | - | -€764,280 | |
| Stocks | 30/36 | €764,280 | - | -€764,280 | |
| Amounts receivable within one year | 40/41 | €132,654 | €272,244 | +€139,590 | +105% |
| Trade receivables | 40 | €132,555 | €129,535 | -€3,021 | -2.3% |
| Other amounts receivable | 41 | €98 | €142,709 | +€142,611 | +144,797% |
| Current investments | 50/53 | - | €550,000 | +€550,000 | |
| Cash at bank and in hand | 54/58 | €49,809 | €57,872 | +€8,063 | +16.2% |
| Deferred charges and accrued income | 490/1 | €2,468 | €10,592 | +€8,123 | +329% |
| Total equity and liabilities | 10/49 | €950,554 | €986,212 | +€35,658 | +3.8% |
| Equity | 10/15 | €226,695 | €456,071 | +€229,375 | +101% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,860 | €291,235 | +€229,375 | +371% |
| Distributable reserves | 133 | €61,860 | €291,235 | +€229,375 | +371% |
| Profit (loss) carried forward | 14 | €146,235 | €146,236 | +€0 | 0.0% |
| Amounts payable | 17/49 | €723,858 | €530,141 | -€193,717 | -26.8% |
| Amounts payable after more than one year | 17 | €466,000 | €336,000 | -€130,000 | -27.9% |
| Financial debts | 170/4 | €466,000 | €336,000 | -€130,000 | -27.9% |
| Amounts payable within one year | 42/48 | €243,396 | €180,995 | -€62,401 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €2,000 | €2,000 | = | 0.0% |
| Trade debts | 44 | €179,342 | €120,475 | -€58,867 | -32.8% |
| Suppliers | 440/4 | €179,342 | €120,475 | -€58,867 | -32.8% |
| Taxes, remuneration and social security | 45 | €30,812 | €17,942 | -€12,869 | -41.8% |
| Taxes | 450/3 | €30,812 | €14,242 | -€16,569 | -53.8% |
| Remuneration and social security | 454/9 | - | €3,700 | +€3,700 | |
| Other amounts payable | 47/48 | €31,242 | €40,577 | +€9,335 | +29.9% |
| Accrued charges and deferred income | 492/3 | €14,462 | €13,146 | -€1,316 | -9.1% |
| Non-recurring operating income | 76A | - | €480,200 | +€480,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271 | €278 | +€8 | +2.8% |
| Other operating charges | 640/8 | €35,843 | €19,439 | -€16,405 | -45.8% |
| Gross operating margin | 9900 | €107,568 | €365,932 | +€258,364 | +240% |
| Operating profit (loss) | 9901 | €71,454 | €346,215 | +€274,761 | +385% |
| Financial income | 75/76B | €911 | €5,259 | +€4,348 | +477% |
| Recurring financial income | 75 | €911 | €5,259 | +€4,348 | +477% |
| Financial charges | 65/66B | €19,591 | €20,830 | +€1,239 | +6.3% |
| Recurring financial charges | 65 | €19,591 | €20,830 | +€1,239 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €52,774 | €330,643 | +€277,870 | +527% |
| Income taxes | 67/77 | €17,646 | €101,268 | +€83,622 | +474% |
| Profit (loss) for the period | 9904 | €35,128 | €229,375 | +€194,248 | +553% |
| Profit (loss) for the period to be appropriated | 9905 | €35,128 | €229,375 | +€194,248 | +553% |
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 15 October 2026 via checked.be.