VINKENEST: 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.
What changed
VINKENEST
NACE 25.210, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,123
2024 · €2,115-€3,238
Equity
€13.3m
2024 · €6.8m+€6.5m
Cash
€3.2m
2024 · €60,286+€3.1m
Balance sheet total
€14.8m
2024 · €11.6m+€3.2m
Largest movements
Assets
- Cash +€3.1m
up €3.1m (+5,181%), from €60,286 to €3.2m
mainly Contributions, distributions and other (+€6.5m) and Depreciation (+€550,947)
Equity and liabilities
- Contributions +€6.5m
up €6.5m (+118%), from €5.5m to €12.0m
- Other debts -€3.0m
down €3.0m (-99.2%), from €3.0m to €24,000
- Debts after one year -€254,857
down €254,857 (-21.4%), from €1.2m to €935,499
Income statement
- Turnover +€103,156
up €103,156 (+15.3%), from €674,018 to €777,174
- Depreciation +€74,572
up €74,572 (+15.7%), from €476,375 to €550,947
- Services and other goods +€28,050
up €28,050 (+48.1%), from €58,337 to €86,387
- Other operating income +€18,108
up €18,108 (+84.4%), from €21,458 to €39,566
- Financial charges +€10,934
up €10,934 (+9.1%), from €119,628 to €130,562
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.
Result 2024
€2,115
Turnover
+€103,156
Other operating income
+€18,108
Services and other goods
-€28,050
Depreciation
-€74,572
Other operating charges
-€4,940
Financial income
-€6,090
Financial charges
-€10,934
Taxes
+€83
Result 2025
-€1,123
raises the resultlowers the result
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.
From operations
-€2.5m
Investment
-€554,096
Financing
+€6.2m
Cash 2024
€60,286
From operations (derived)
-€2.5m
Net result for the year
-€1,123
Depreciation
+€550,947
Receivables within one year
-€40,651
Smaller working-capital items
+€7,070
Trade debts
-€62,208
Other debts
-€3.0m
Investment (derived)
-€554,096
Investment in fixed assets (net)
-€554,096
Financing
+€6.2m
Debts after one year
-€254,857
Current portion of long-term debt
+€5,314
Contributions, distributions and other
+€6.5m
Cash 2025
€3.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,619,174 | €14,786,370 | +€3.2m | +27.3% |
| Fixed assets | 21/28 | €11,528,157 | €11,531,306 | +€3,149 | 0.0% |
| Tangible fixed assets | 22/27 | €11,528,157 | €11,531,306 | +€3,149 | 0.0% |
| Land and buildings | 22 | €10,492,210 | €10,495,359 | +€3,149 | 0.0% |
| Other tangible fixed assets | 26 | €1,035,947 | €1,035,947 | = | 0.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €91,018 | €3,255,065 | +€3.2m | +3,476% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €30,731 | €71,383 | +€40,651 | +132% |
| Trade receivables | 40 | €192 | €60,236 | +€60,044 | +31,312% |
| Other amounts receivable | 41 | €30,540 | €11,147 | -€19,393 | -63.5% |
| Cash at bank and in hand | 54/58 | €60,286 | €3,183,682 | +€3.1m | +5,181% |
| Total equity and liabilities | 10/49 | €11,619,174 | €14,786,370 | +€3.2m | +27.3% |
| Equity | 10/15 | €6,798,489 | €13,273,365 | +€6.5m | +95.2% |
| Contributions | 10/11 | €5,500,000 | €12,000,000 | +€6.5m | +118% |
| Capital | 10 | €5,500,000 | €12,000,000 | +€6.5m | +118% |
| Issued capital | 100 | €5,500,000 | €12,000,000 | +€6.5m | +118% |
| Reserves | 13 | €635,684 | €610,516 | -€25,168 | -4.0% |
| Non-distributable reserves | 130/1 | €72,850 | €74,350 | +€1,500 | +2.1% |
| Legal reserve | 130 | €72,850 | €74,350 | +€1,500 | +2.1% |
| Tax-exempt reserves | 132 | €506,695 | €480,027 | -€26,668 | -5.3% |
| Distributable reserves | 133 | €56,139 | €56,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | €662,804 | €662,849 | +€45 | 0.0% |
| Provisions and deferred taxes | 16 | €168,898 | €160,009 | -€8,889 | -5.3% |
| Deferred taxes | 168 | €168,898 | €160,009 | -€8,889 | -5.3% |
| Amounts payable | 17/49 | €4,651,787 | €1,352,996 | -€3.3m | -70.9% |
| Amounts payable after more than one year | 17 | €1,190,355 | €935,499 | -€254,857 | -21.4% |
| Financial debts | 170/4 | €1,190,355 | €935,499 | -€254,857 | -21.4% |
| Credit institutions | 173 | €1,190,355 | €935,499 | -€254,857 | -21.4% |
| Amounts payable within one year | 42/48 | €3,376,123 | €316,229 | -€3.1m | -90.6% |
| Current portion of amounts payable after more than one year | 42 | €249,543 | €254,857 | +€5,314 | +2.1% |
| Trade debts | 44 | €98,913 | €36,705 | -€62,208 | -62.9% |
| Suppliers | 440/4 | €98,913 | €36,705 | -€62,208 | -62.9% |
| Taxes, remuneration and social security | 45 | €668 | €668 | = | 0.0% |
| Taxes | 450/3 | €668 | €668 | = | 0.0% |
| Other amounts payable | 47/48 | €3,027,000 | €24,000 | -€3.0m | -99.2% |
| Accrued charges and deferred income | 492/3 | €85,308 | €101,268 | +€15,959 | +18.7% |
| Operating income | 70/76A | €695,476 | €816,740 | +€121,264 | +17.4% |
| Turnover | 70 | €674,018 | €777,174 | +€103,156 | +15.3% |
| Other operating income | 74 | €21,458 | €39,566 | +€18,108 | +84.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €591,947 | €699,508 | +€107,561 | +18.2% |
| Goods for resale, raw materials and consumables | 60 | €0 | - | = | |
| Purchases | 600/8 | €0 | - | = | |
| Services and other goods | 61 | €58,337 | €86,387 | +€28,050 | +48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €476,375 | €550,947 | +€74,572 | +15.7% |
| Other operating charges | 640/8 | €57,235 | €62,175 | +€4,940 | +8.6% |
| Operating profit (loss) | 9901 | €103,529 | €117,231 | +€13,703 | +13.2% |
| Financial income | 75/76B | €9,993 | €3,902 | -€6,090 | -60.9% |
| Recurring financial income | 75 | €9,993 | €3,902 | -€6,090 | -60.9% |
| Income from current assets | 751 | - | €1,393 | +€1,393 | |
| Other financial income | 752/9 | €9,993 | €2,510 | -€7,483 | -74.9% |
| Financial charges | 65/66B | €119,628 | €130,562 | +€10,934 | +9.1% |
| Recurring financial charges | 65 | €119,628 | €130,562 | +€10,934 | +9.1% |
| Debt charges | 650 | €118,474 | €129,231 | +€10,756 | +9.1% |
| Other financial charges | 652/9 | €1,154 | €1,331 | +€177 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,106 | -€9,428 | -€3,321 | -54.4% |
| Transfer from deferred taxes | 780 | €8,889 | €8,889 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €668 | €585 | -€83 | -12.5% |
| Taxes | 670/3 | €668 | €585 | -€83 | -12.5% |
| Profit (loss) for the period | 9904 | €2,115 | -€1,123 | -€3,238 | |
| Transfer from tax-exempt reserves | 789 | €26,668 | €26,668 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €28,783 | €25,545 | -€3,238 | -11.3% |
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 13 October 2026 via checked.be.