VINKE: 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.
VINKE
Largest movements
- Cash +€47,388
up €47,388 (+47.6%), from €99,460 to €146,848
mainly Net result for the year (+€117,294) and Depreciation (+€63,729)
- Tangible fixed assets -€46,362
down €46,362 (-13.9%), from €334,577 to €288,215
of which Land and buildings: -€35,718
- Receivables within one year +€16,213
up €16,213 (+30.9%), from €52,468 to €68,681
of which Trade receivables: +€26,349
- Stocks and contracts -€8,339
down €8,339 (-18.4%), from €45,426 to €37,088
- Debts after one year -€60,405
down €60,405 (-25.2%), from €239,833 to €179,427
- Other debts +€57,750
up €57,750 (+115.5%), from €50,000 to €107,750
- Trade debts +€20,261
up €20,261 (+34.5%), from €58,694 to €78,955
- Current portion of long-term debt -€19,966
down €19,966 (-25.3%), from €78,931 to €58,965
- Profit (loss) carried forward +€12,294
up €12,294 (+61.5%), from €20,002 to €32,296
- Gross operating margin +€62,269
up €62,269 (+32.3%), from €192,639 to €254,909
- Financial charges -€3,058
down €3,058 (-17.5%), from €17,477 to €14,420
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 | €550,990 | €561,837 | +€10,847 | +2.0% |
| Fixed assets | 21/28 | €334,827 | €288,465 | -€46,362 | -13.8% |
| Tangible fixed assets | 22/27 | €334,577 | €288,215 | -€46,362 | -13.9% |
| Land and buildings | 22 | €243,588 | €207,869 | -€35,718 | -14.7% |
| Plant, machinery and equipment | 23 | €72,699 | €61,508 | -€11,191 | -15.4% |
| Furniture and vehicles | 24 | €18,290 | €18,837 | +€547 | +3.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €216,163 | €273,373 | +€57,209 | +26.5% |
| Amounts receivable after more than one year | 29 | €17,046 | €20,600 | +€3,554 | +20.9% |
| Trade receivables | 290 | €17,046 | €20,600 | +€3,554 | +20.9% |
| Stocks and contracts in progress | 3 | €45,426 | €37,088 | -€8,339 | -18.4% |
| Stocks | 30/36 | €45,426 | €37,088 | -€8,339 | -18.4% |
| Amounts receivable within one year | 40/41 | €52,468 | €68,681 | +€16,213 | +30.9% |
| Trade receivables | 40 | €24,138 | €50,488 | +€26,349 | +109.2% |
| Other amounts receivable | 41 | €28,330 | €18,193 | -€10,136 | -35.8% |
| Cash at bank and in hand | 54/58 | €99,460 | €146,848 | +€47,388 | +47.6% |
| Deferred charges and accrued income | 490/1 | €1,763 | €156 | -€1,607 | -91.2% |
| Total equity and liabilities | 10/49 | €550,990 | €561,837 | +€10,847 | +2.0% |
| Equity | 10/15 | €108,865 | €121,158 | +€12,294 | +11.3% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €20,263 | €20,263 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,150 | €9,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,150 | €9,150 | = | 0.0% |
| Distributable reserves | 133 | €11,113 | €11,113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,002 | €32,296 | +€12,294 | +61.5% |
| Amounts payable | 17/49 | €442,125 | €440,679 | -€1,446 | -0.3% |
| Amounts payable after more than one year | 17 | €239,833 | €179,427 | -€60,405 | -25.2% |
| Financial debts | 170/4 | €239,833 | €179,427 | -€60,405 | -25.2% |
| Amounts payable within one year | 42/48 | €202,292 | €261,205 | +€58,912 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €78,931 | €58,965 | -€19,966 | -25.3% |
| Financial debts | 43 | €1,947 | - | -€1,947 | |
| Credit institutions | 430/8 | €1,947 | - | -€1,947 | |
| Trade debts | 44 | €58,694 | €78,955 | +€20,261 | +34.5% |
| Suppliers | 440/4 | €58,694 | €78,955 | +€20,261 | +34.5% |
| Advances received on contracts in progress | 46 | €347 | €575 | +€228 | +65.7% |
| Taxes, remuneration and social security | 45 | €12,373 | €14,961 | +€2,588 | +20.9% |
| Taxes | 450/3 | €6,023 | €7,755 | +€1,733 | +28.8% |
| Remuneration and social security | 454/9 | €6,350 | €7,205 | +€855 | +13.5% |
| Other amounts payable | 47/48 | €50,000 | €107,750 | +€57,750 | +115.5% |
| Accrued charges and deferred income | 492/3 | - | €47 | +€47 | |
| Remuneration, social security and pensions | 62 | €56,878 | €57,916 | +€1,038 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,535 | €63,729 | -€1,806 | -2.8% |
| Other operating charges | 640/8 | €3,157 | €3,350 | +€193 | +6.1% |
| Gross operating margin | 9900 | €192,639 | €254,909 | +€62,269 | +32.3% |
| Operating profit (loss) | 9901 | €67,069 | €129,914 | +€62,845 | +93.7% |
| Financial income | 75/76B | €2,085 | €1,799 | -€286 | -13.7% |
| Recurring financial income | 75 | €2,085 | €1,799 | -€286 | -13.7% |
| Financial charges | 65/66B | €17,477 | €14,420 | -€3,058 | -17.5% |
| Recurring financial charges | 65 | €17,477 | €14,420 | -€3,058 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €51,677 | €117,294 | +€65,617 | +127.0% |
| Profit (loss) for the period | 9904 | €51,677 | €117,294 | +€65,617 | +127.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,677 | €117,294 | +€65,617 | +127.0% |
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 2 October 2026 via checked.be.