Vinken Luc: what changed
Vinken Luc
Largest movements
- Receivables within one year -€26,030
down €26,030 (-26.7%), from €97,317 to €71,287
of which Trade receivables: -€25,937
- Tangible fixed assets -€11,898
down €11,898 (-23.4%), from €50,940 to €39,042
of which Furniture and vehicles: -€10,300
- Cash +€9,746
up €9,746 (+140%), from €6,958 to €16,705
mainly Receivables within one year (+€26,030) and Depreciation (+€18,822)
- Deferred charges and accrued income +€1,763
up €1,763 (+63.5%), from €2,775 to €4,538
- Trade debts -€26,254
down €26,254 (-59.6%), from €44,084 to €17,829
- Reserves +€8,429
up €8,429 (+19.5%), from €43,299 to €51,728
- Debts after one year -€6,496
down €6,496 (-100%), from €6,496 to €0
- Tax, wage and social debts -€1,689
down €1,689 (-44.7%), from €3,782 to €2,093
of which Taxes: -€2,088
- Gross operating margin +€19,041
up €19,041 (+28.8%), from €66,032 to €85,073
- Staff costs +€4,347
up €4,347 (+10.7%), from €40,559 to €44,906
- Financial charges +€3,619
up €3,619 (+574%), from €630 to €4,249
- Depreciation +€3,490
up €3,490 (+22.8%), from €15,332 to €18,822
- Financial income +€2,713
up €2,713 (+2,129%), from €127 to €2,840
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,672 | €133,723 | -€25,949 | -16.3% |
| Fixed assets | 21/28 | €50,940 | €39,042 | -€11,898 | -23.4% |
| Tangible fixed assets | 22/27 | €50,940 | €39,042 | -€11,898 | -23.4% |
| Land and buildings | 22 | €2,874 | €2,548 | -€327 | -11.4% |
| Plant, machinery and equipment | 23 | €14,734 | €13,462 | -€1,271 | -8.6% |
| Furniture and vehicles | 24 | €33,332 | €23,032 | -€10,300 | -30.9% |
| Current assets | 29/58 | €108,732 | €94,681 | -€14,051 | -12.9% |
| Stocks and contracts in progress | 3 | €1,681 | €2,151 | +€471 | +28.0% |
| Stocks | 30/36 | €1,681 | €2,151 | +€471 | +28.0% |
| Amounts receivable within one year | 40/41 | €97,317 | €71,287 | -€26,030 | -26.7% |
| Trade receivables | 40 | €91,518 | €65,581 | -€25,937 | -28.3% |
| Other amounts receivable | 41 | €5,799 | €5,706 | -€93 | -1.6% |
| Cash at bank and in hand | 54/58 | €6,958 | €16,705 | +€9,746 | +140% |
| Deferred charges and accrued income | 490/1 | €2,775 | €4,538 | +€1,763 | +63.5% |
| Total equity and liabilities | 10/49 | €159,672 | €133,723 | -€25,949 | -16.3% |
| Equity | 10/15 | €49,499 | €57,928 | +€8,429 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,299 | €51,728 | +€8,429 | +19.5% |
| Distributable reserves | 133 | €43,299 | €51,728 | +€8,429 | +19.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €110,173 | €75,795 | -€34,378 | -31.2% |
| Amounts payable after more than one year | 17 | €6,496 | €0 | -€6,496 | -100% |
| Financial debts | 170/4 | €6,496 | €0 | -€6,496 | -100% |
| Amounts payable within one year | 42/48 | €103,334 | €74,924 | -€28,410 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €7,621 | €6,496 | -€1,125 | -14.8% |
| Trade debts | 44 | €44,084 | €17,829 | -€26,254 | -59.6% |
| Suppliers | 440/4 | €44,084 | €17,829 | -€26,254 | -59.6% |
| Taxes, remuneration and social security | 45 | €3,782 | €2,093 | -€1,689 | -44.7% |
| Taxes | 450/3 | €2,599 | €511 | -€2,088 | -80.3% |
| Remuneration and social security | 454/9 | €1,183 | €1,581 | +€399 | +33.7% |
| Other amounts payable | 47/48 | €47,847 | €48,506 | +€659 | +1.4% |
| Accrued charges and deferred income | 492/3 | €343 | €870 | +€527 | +154% |
| Remuneration, social security and pensions | 62 | €40,559 | €44,906 | +€4,347 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,332 | €18,822 | +€3,490 | +22.8% |
| Other operating charges | 640/8 | €3,567 | €6,164 | +€2,597 | +72.8% |
| Gross operating margin | 9900 | €66,032 | €85,073 | +€19,041 | +28.8% |
| Operating profit (loss) | 9901 | €6,575 | €15,182 | +€8,608 | +131% |
| Financial income | 75/76B | €127 | €2,840 | +€2,713 | +2,129% |
| Recurring financial income | 75 | €127 | €2,840 | +€2,713 | +2,129% |
| Financial charges | 65/66B | €630 | €4,249 | +€3,619 | +574% |
| Recurring financial charges | 65 | €630 | €4,249 | +€3,619 | +574% |
| Profit (loss) for the period before taxes | 9903 | €6,072 | €13,774 | +€7,702 | +127% |
| Income taxes | 67/77 | €2,543 | €4,511 | +€1,968 | +77.4% |
| Profit (loss) for the period | 9904 | €3,529 | €9,262 | +€5,734 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €3,529 | €9,262 | +€5,734 | +162% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.