VINODUC: 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.
VINODUC
Largest movements
- Receivables within one year +€501,365
up €501,365 (+1049.2%), from €47,786 to €549,150
of which Other amounts receivable: +€474,238
- Financial fixed assets -€480,000
down €480,000 (-99.9%), from €480,250 to €250
- Tangible fixed assets -€51,462
down €51,462 (-4.5%), from €1.1m to €1.1m
of which Land and buildings: -€53,308
- Debts after one year -€39,838
down €39,838 (-30.8%), from €129,155 to €89,317
- Other debts +€27,708
new in 2025: €27,708
- Trade debts -€24,094
down €24,094 (-63.1%), from €38,173 to €14,079
- Reserves -€20,974
down €20,974 (-4.2%), from €504,012 to €483,038
- Financial charges +€27,388
up €27,388 (+367.1%), from €7,460 to €34,848
of which Non-recurring financial charges: +€20,000
- Gross operating margin +€25,347
up €25,347 (+60.7%), from €41,790 to €67,137
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 | €1,675,659 | €1,645,023 | -€30,636 | -1.8% |
| Fixed assets | 21/28 | €1,627,186 | €1,095,724 | -€531,462 | -32.7% |
| Tangible fixed assets | 22/27 | €1,146,936 | €1,095,474 | -€51,462 | -4.5% |
| Land and buildings | 22 | €1,144,550 | €1,091,242 | -€53,308 | -4.7% |
| Plant, machinery and equipment | 23 | €0 | €1,846 | +€1,846 | |
| Furniture and vehicles | 24 | €2,386 | €2,386 | = | 0.0% |
| Financial fixed assets | 28 | €480,250 | €250 | -€480,000 | -99.9% |
| Current assets | 29/58 | €48,474 | €549,299 | +€500,825 | +1033.2% |
| Amounts receivable within one year | 40/41 | €47,786 | €549,150 | +€501,365 | +1049.2% |
| Trade receivables | 40 | €41,529 | €68,655 | +€27,126 | +65.3% |
| Other amounts receivable | 41 | €6,257 | €480,495 | +€474,238 | +7579.6% |
| Cash at bank and in hand | 54/58 | €688 | €149 | -€539 | -78.4% |
| Total equity and liabilities | 10/49 | €1,675,659 | €1,645,023 | -€30,636 | -1.8% |
| Equity | 10/15 | €1,228,086 | €1,204,425 | -€23,661 | -1.9% |
| Contributions | 10/11 | €782,000 | €782,000 | = | 0.0% |
| Capital | 10 | €782,000 | €782,000 | = | 0.0% |
| Issued capital | 100 | €782,000 | €782,000 | = | 0.0% |
| Reserves | 13 | €504,012 | €483,038 | -€20,974 | -4.2% |
| Tax-exempt reserves | 132 | €504,012 | €483,038 | -€20,974 | -4.2% |
| Profit (loss) carried forward | 14 | -€57,926 | -€60,613 | -€2,686 | -4.6% |
| Provisions and deferred taxes | 16 | €206,327 | €217,837 | +€11,510 | +5.6% |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Major repairs and maintenance | 162 | - | €20,000 | +€20,000 | |
| Deferred taxes | 168 | €206,327 | €197,837 | -€8,490 | -4.1% |
| Amounts payable | 17/49 | €241,246 | €222,760 | -€18,486 | -7.7% |
| Amounts payable after more than one year | 17 | €129,155 | €89,317 | -€39,838 | -30.8% |
| Financial debts | 170/4 | €129,155 | €89,317 | -€39,838 | -30.8% |
| Amounts payable within one year | 42/48 | €112,091 | €133,443 | +€21,352 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €38,733 | €39,838 | +€1,105 | +2.9% |
| Trade debts | 44 | €38,173 | €14,079 | -€24,094 | -63.1% |
| Suppliers | 440/4 | €38,173 | €14,079 | -€24,094 | -63.1% |
| Taxes, remuneration and social security | 45 | €35,186 | €51,819 | +€16,632 | +47.3% |
| Taxes | 450/3 | €35,186 | €51,819 | +€16,632 | +47.3% |
| Other amounts payable | 47/48 | - | €27,708 | +€27,708 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,925 | €53,462 | +€537 | +1.0% |
| Other operating charges | 640/8 | €11,642 | €10,979 | -€664 | -5.7% |
| Gross operating margin | 9900 | €41,790 | €67,137 | +€25,347 | +60.7% |
| Operating profit (loss) | 9901 | -€22,776 | €2,697 | +€25,474 | |
| Financial income | 75/76B | €297 | - | -€297 | |
| Recurring financial income | 75 | €297 | - | -€297 | |
| Financial charges | 65/66B | €7,460 | €34,848 | +€27,388 | +367.1% |
| Recurring financial charges | 65 | €7,460 | €14,848 | +€7,388 | +99.0% |
| Non-recurring financial charges | 66B | - | €20,000 | +€20,000 | |
| Profit (loss) for the period before taxes | 9903 | -€29,939 | -€32,150 | -€2,211 | -7.4% |
| Transfer from deferred taxes | 780 | €8,490 | €8,490 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€21,450 | -€23,661 | -€2,211 | -10.3% |
| Transfer from tax-exempt reserves | 789 | €20,974 | €20,974 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€475 | -€2,686 | -€2,211 | -465.2% |
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 8 October 2026 via checked.be.