VINOFIN: 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.
VINOFIN
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash -€9,442
down €9,442 (-12.0%), from €78,915 to €69,473
mainly Contributions, distributions and other (-€313,843) and Investment in fixed assets (net) (-€25,087)
- Tangible fixed assets +€8,677
up €8,677 (+3.5%), from €245,322 to €253,999
of which Furniture and vehicles: +€17,910
- Profit (loss) carried forward -€159,110
no longer reported in 2025 (was €159,110)
- Reserves -€67,850
down €67,850 (-22.2%), from €305,972 to €238,122
of which Distributable reserves: -€67,850
- Other debts +€28,800
up €28,800 (+442.0%), from €6,516 to €35,317
- Debts after one year -€12,677
down €12,677 (-32.1%), from €39,505 to €26,827
- Gross operating margin +€27,025
up €27,025 (+25.6%), from €105,505 to €132,529
- Depreciation +€3,048
up €3,048 (+22.8%), from €13,361 to €16,409
- Financial income -€2,278
down €2,278 (-59.5%), from €3,829 to €1,551
- Taxes +€2,141
up €2,141 (+8.5%), from €25,086 to €27,226
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 | €559,845 | €355,760 | -€204,084 | -36.5% |
| Fixed assets | 21/28 | €245,322 | €253,999 | +€8,677 | +3.5% |
| Tangible fixed assets | 22/27 | €245,322 | €253,999 | +€8,677 | +3.5% |
| Land and buildings | 22 | €235,699 | €227,369 | -€8,330 | -3.5% |
| Plant, machinery and equipment | 23 | €3,443 | €2,227 | -€1,216 | -35.3% |
| Furniture and vehicles | 24 | €4,522 | €22,432 | +€17,910 | +396.1% |
| Leasing and similar rights | 25 | - | €1,971 | +€1,971 | |
| Other tangible fixed assets | 26 | €658 | - | -€658 | |
| Assets under construction and advance payments | 27 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €314,523 | €101,761 | -€212,762 | -67.6% |
| Stocks and contracts in progress | 3 | €6,558 | €4,779 | -€1,779 | -27.1% |
| Stocks | 30/36 | €6,558 | €4,779 | -€1,779 | -27.1% |
| Amounts receivable within one year | 40/41 | €29,049 | €26,514 | -€2,536 | -8.7% |
| Trade receivables | 40 | €28,111 | €24,174 | -€3,937 | -14.0% |
| Other amounts receivable | 41 | €938 | €2,340 | +€1,402 | +149.4% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €78,915 | €69,473 | -€9,442 | -12.0% |
| Deferred charges and accrued income | 490/1 | - | €995 | +€995 | |
| Total equity and liabilities | 10/49 | €559,845 | €355,760 | -€204,084 | -36.5% |
| Equity | 10/15 | €483,682 | €256,722 | -€226,960 | -46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €305,972 | €238,122 | -€67,850 | -22.2% |
| Tax-exempt reserves | 132 | €1,077 | €1,077 | = | 0.0% |
| Distributable reserves | 133 | €304,895 | €237,045 | -€67,850 | -22.3% |
| Profit (loss) carried forward | 14 | €159,110 | - | -€159,110 | |
| Amounts payable | 17/49 | €76,162 | €99,038 | +€22,876 | +30.0% |
| Amounts payable after more than one year | 17 | €39,505 | €26,827 | -€12,677 | -32.1% |
| Financial debts | 170/4 | €39,505 | €26,827 | -€12,677 | -32.1% |
| Amounts payable within one year | 42/48 | €36,658 | €72,211 | +€35,553 | +97.0% |
| Current portion of amounts payable after more than one year | 42 | €12,550 | €12,677 | +€128 | +1.0% |
| Trade debts | 44 | €3,375 | €5,489 | +€2,114 | +62.6% |
| Suppliers | 440/4 | €3,375 | €5,489 | +€2,114 | +62.6% |
| Taxes, remuneration and social security | 45 | €14,217 | €18,728 | +€4,511 | +31.7% |
| Taxes | 450/3 | €14,217 | €18,728 | +€4,511 | +31.7% |
| Other amounts payable | 47/48 | €6,516 | €35,317 | +€28,800 | +442.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,361 | €16,409 | +€3,048 | +22.8% |
| Other operating charges | 640/8 | €1,864 | €1,704 | -€161 | -8.6% |
| Non-recurring operating charges | 66A | €298 | - | -€298 | |
| Gross operating margin | 9900 | €105,505 | €132,529 | +€27,025 | +25.6% |
| Operating profit (loss) | 9901 | €89,980 | €114,417 | +€24,436 | +27.2% |
| Financial income | 75/76B | €3,829 | €1,551 | -€2,278 | -59.5% |
| Recurring financial income | 75 | €3,829 | €1,551 | -€2,278 | -59.5% |
| Financial charges | 65/66B | €770 | €1,859 | +€1,090 | +141.6% |
| Recurring financial charges | 65 | €770 | €1,859 | +€1,090 | +141.6% |
| Profit (loss) for the period before taxes | 9903 | €93,040 | €114,109 | +€21,069 | +22.6% |
| Income taxes | 67/77 | €25,086 | €27,226 | +€2,141 | +8.5% |
| Profit (loss) for the period | 9904 | €67,954 | €86,882 | +€18,928 | +27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,954 | €86,882 | +€18,928 | +27.9% |
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 7 October 2026 via checked.be.