VINMAR: 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.
VINMAR
Largest movements
- Tangible fixed assets -€105,485
down €105,485 (-3.8%), from €2.7m to €2.6m
of which Land and buildings: -€138,737
- Cash +€65,362
up €65,362 (+164%), from €39,804 to €105,167
mainly Depreciation (+€160,253) and Net result for the year (+€117,802)
- Debts after one year -€110,627
down €110,627 (-7.2%), from €1.5m to €1.4m
- Reserves +€103,827
up €103,827 (+21.3%), from €488,139 to €591,966
- Current portion of long-term debt -€55,881
down €55,881 (-33.6%), from €166,508 to €110,627
- Depreciation -€172,032
down €172,032 (-51.8%), from €332,285 to €160,253
- Gross operating margin +€96,573
up €96,573 (+27.3%), from €353,659 to €450,232
- Taxes +€42,420
new in 2025: €42,420
- Financial charges +€41,584
up €41,584 (+101%), from €41,368 to €82,951
- Other operating charges +€26,478
up €26,478 (+130%), from €20,374 to €46,852
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 | €2,834,837 | €2,799,812 | -€35,025 | -1.2% |
| Fixed assets | 21/28 | €2,749,051 | €2,643,566 | -€105,485 | -3.8% |
| Tangible fixed assets | 22/27 | €2,749,051 | €2,643,566 | -€105,485 | -3.8% |
| Land and buildings | 22 | €2,553,169 | €2,414,433 | -€138,737 | -5.4% |
| Plant, machinery and equipment | 23 | €85,629 | €79,126 | -€6,503 | -7.6% |
| Other tangible fixed assets | 26 | €110,253 | €150,007 | +€39,755 | +36.1% |
| Current assets | 29/58 | €85,785 | €156,245 | +€70,460 | +82.1% |
| Amounts receivable within one year | 40/41 | €39,854 | €44,603 | +€4,749 | +11.9% |
| Trade receivables | 40 | €12,691 | €20,130 | +€7,439 | +58.6% |
| Other amounts receivable | 41 | €27,163 | €24,473 | -€2,690 | -9.9% |
| Cash at bank and in hand | 54/58 | €39,804 | €105,167 | +€65,362 | +164% |
| Deferred charges and accrued income | 490/1 | €6,127 | €6,476 | +€348 | +5.7% |
| Total equity and liabilities | 10/49 | €2,834,837 | €2,799,812 | -€35,025 | -1.2% |
| Equity | 10/15 | €522,430 | €598,101 | +€75,671 | +14.5% |
| Contributions | 10/11 | €6,135 | €6,135 | = | 0.0% |
| Reserves | 13 | €488,139 | €591,966 | +€103,827 | +21.3% |
| Distributable reserves | 133 | €488,139 | €591,966 | +€103,827 | +21.3% |
| Profit (loss) carried forward | 14 | €28,156 | - | -€28,156 | |
| Amounts payable | 17/49 | €2,312,406 | €2,201,710 | -€110,696 | -4.8% |
| Amounts payable after more than one year | 17 | €1,536,756 | €1,426,129 | -€110,627 | -7.2% |
| Financial debts | 170/4 | €1,536,756 | €1,426,129 | -€110,627 | -7.2% |
| Amounts payable within one year | 42/48 | €742,044 | €727,016 | -€15,028 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €166,508 | €110,627 | -€55,881 | -33.6% |
| Trade debts | 44 | €1,191 | €8,481 | +€7,290 | +612% |
| Suppliers | 440/4 | €1,191 | €8,481 | +€7,290 | +612% |
| Taxes, remuneration and social security | 45 | €10,961 | €27,519 | +€16,558 | +151% |
| Taxes | 450/3 | €10,961 | €27,519 | +€16,558 | +151% |
| Other amounts payable | 47/48 | €563,384 | €580,389 | +€17,005 | +3.0% |
| Accrued charges and deferred income | 492/3 | €33,606 | €48,565 | +€14,959 | +44.5% |
| Non-recurring operating income | 76A | - | €5,500 | +€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €332,285 | €160,253 | -€172,032 | -51.8% |
| Other operating charges | 640/8 | €20,374 | €46,852 | +€26,478 | +130% |
| Gross operating margin | 9900 | €353,659 | €450,232 | +€96,573 | +27.3% |
| Operating profit (loss) | 9901 | €999 | €243,127 | +€242,128 | +24,238% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €41,368 | €82,951 | +€41,584 | +101% |
| Recurring financial charges | 65 | €41,368 | €82,951 | +€41,584 | +101% |
| Profit (loss) for the period before taxes | 9903 | -€40,369 | €160,221 | +€200,590 | |
| Income taxes | 67/77 | - | €42,420 | +€42,420 | |
| Profit (loss) for the period | 9904 | -€40,369 | €117,802 | +€158,171 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,369 | €117,802 | +€158,171 |
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 24 October 2026 via checked.be.