VININVEST: 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.
VININVEST
Largest movements
- Stocks and contracts +€21,082
up €21,082 (+4.6%), from €460,121 to €481,203
of which Stocks: +€20,783
- Receivables within one year -€13,432
down €13,432 (-15.6%), from €85,866 to €72,434
of which Trade receivables: -€13,498
- Tangible fixed assets -€12,463
down €12,463 (-42.1%), from €29,584 to €17,121
of which Furniture and vehicles: -€8,353
- Trade debts -€30,036
down €30,036 (-30.4%), from €98,733 to €68,697
- Profit (loss) carried forward +€28,548
up €28,548 (+92.3%), from €30,940 to €59,488
- Current portion of long-term debt -€9,163
down €9,163 (-22.5%), from €40,708 to €31,545
- Tax, wage and social debts +€8,434
up €8,434 (+15.5%), from €54,280 to €62,714
of which Taxes: +€8,434
- Other debts -€6,662
down €6,662 (-6.2%), from €107,273 to €100,611
- Gross operating margin +€19,433
up €19,433 (+44.9%), from €43,252 to €62,684
- Taxes +€5,285
up €5,285 (+101%), from €5,247 to €10,532
- Financial charges +€1,462
up €1,462 (+25.7%), from €5,689 to €7,150
- Depreciation -€1,282
down €1,282 (-7.6%), from €16,863 to €15,580
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 | €595,453 | €585,696 | -€9,757 | -1.6% |
| Fixed assets | 21/28 | €37,765 | €22,184 | -€15,580 | -41.3% |
| Intangible fixed assets | 21 | €3,546 | €429 | -€3,118 | -87.9% |
| Tangible fixed assets | 22/27 | €29,584 | €17,121 | -€12,463 | -42.1% |
| Plant, machinery and equipment | 23 | €9,570 | €5,460 | -€4,110 | -42.9% |
| Furniture and vehicles | 24 | €20,015 | €11,662 | -€8,353 | -41.7% |
| Financial fixed assets | 28 | €4,634 | €4,634 | = | 0.0% |
| Current assets | 29/58 | €557,688 | €563,512 | +€5,824 | +1.0% |
| Stocks and contracts in progress | 3 | €460,121 | €481,203 | +€21,082 | +4.6% |
| Stocks | 30/36 | €439,978 | €460,761 | +€20,783 | +4.7% |
| Contracts in progress | 37 | €20,143 | €20,442 | +€299 | +1.5% |
| Amounts receivable within one year | 40/41 | €85,866 | €72,434 | -€13,432 | -15.6% |
| Trade receivables | 40 | €83,089 | €69,591 | -€13,498 | -16.2% |
| Other amounts receivable | 41 | €2,777 | €2,843 | +€66 | +2.4% |
| Cash at bank and in hand | 54/58 | €6,461 | €4,647 | -€1,813 | -28.1% |
| Deferred charges and accrued income | 490/1 | €5,241 | €5,228 | -€13 | -0.2% |
| Total equity and liabilities | 10/49 | €595,453 | €585,696 | -€9,757 | -1.6% |
| Equity | 10/15 | €92,940 | €121,488 | +€28,548 | +30.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,940 | €59,488 | +€28,548 | +92.3% |
| Amounts payable | 17/49 | €502,513 | €464,208 | -€38,305 | -7.6% |
| Amounts payable after more than one year | 17 | €191,936 | €191,058 | -€878 | -0.5% |
| Financial debts | 170/4 | €191,936 | €191,058 | -€878 | -0.5% |
| Amounts payable within one year | 42/48 | €310,577 | €273,150 | -€37,427 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €40,708 | €31,545 | -€9,163 | -22.5% |
| Trade debts | 44 | €98,733 | €68,697 | -€30,036 | -30.4% |
| Suppliers | 440/4 | €98,733 | €68,697 | -€30,036 | -30.4% |
| Advances received on contracts in progress | 46 | €9,584 | €9,584 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €54,280 | €62,714 | +€8,434 | +15.5% |
| Taxes | 450/3 | €46,780 | €55,214 | +€8,434 | +18.0% |
| Remuneration and social security | 454/9 | €7,500 | €7,500 | = | 0.0% |
| Other amounts payable | 47/48 | €107,273 | €100,611 | -€6,662 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,863 | €15,580 | -€1,282 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€475 | - | +€475 | |
| Other operating charges | 640/8 | €833 | €928 | +€94 | +11.3% |
| Gross operating margin | 9900 | €43,252 | €62,684 | +€19,433 | +44.9% |
| Operating profit (loss) | 9901 | €26,031 | €46,177 | +€20,145 | +77.4% |
| Financial income | 75/76B | - | €54 | +€54 | |
| Recurring financial income | 75 | - | €54 | +€54 | |
| Financial charges | 65/66B | €5,689 | €7,150 | +€1,462 | +25.7% |
| Recurring financial charges | 65 | €5,689 | €7,150 | +€1,462 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €20,343 | €39,080 | +€18,737 | +92.1% |
| Income taxes | 67/77 | €5,247 | €10,532 | +€5,285 | +101% |
| Profit (loss) for the period | 9904 | €15,096 | €28,548 | +€13,452 | +89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,096 | €28,548 | +€13,452 | +89.1% |
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 20 October 2026 via checked.be.