VINQUAY: 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.
VINQUAY
Largest movements
- Tangible fixed assets +€404,098
up €404,098 (+51.4%), from €786,121 to €1.2m
of which Land and buildings: +€404,353
- Debts after one year +€1.1m
up €1.1m, from €0 to €1.1m
of which Other amounts payable: +€1.1m
- Other debts -€540,182
down €540,182 (-100%), from €540,182 to €0
- Profit (loss) carried forward -€101,026
down €101,026 (-243%), from -€41,594 to -€142,619
- Current portion of long-term debt -€24,834
down €24,834 (-100%), from €24,834 to €0
- Gross operating margin -€17,435
down €17,435 (-64.8%), from -€26,888 to -€44,323
- Depreciation +€14,177
up €14,177 (+29.8%), from €47,590 to €61,767
- Financial charges -€8,893
down €8,893 (-93.7%), from €9,489 to €596
- Other operating charges +€877
up €877 (+13.8%), from €6,369 to €7,246
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 | €818,774 | €1,212,976 | +€394,202 | +48.1% |
| Fixed assets | 21/28 | €786,301 | €1,190,399 | +€404,098 | +51.4% |
| Tangible fixed assets | 22/27 | €786,121 | €1,190,219 | +€404,098 | +51.4% |
| Land and buildings | 22 | €781,236 | €1,185,589 | +€404,353 | +51.8% |
| Plant, machinery and equipment | 23 | €3,128 | €2,259 | -€869 | -27.8% |
| Furniture and vehicles | 24 | €1,757 | €2,371 | +€614 | +34.9% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €32,473 | €22,577 | -€9,896 | -30.5% |
| Amounts receivable within one year | 40/41 | €184 | €184 | = | 0.0% |
| Other amounts receivable | 41 | €184 | €184 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,322 | €8,779 | -€6,543 | -42.7% |
| Deferred charges and accrued income | 490/1 | €16,967 | €13,614 | -€3,353 | -19.8% |
| Total equity and liabilities | 10/49 | €818,774 | €1,212,976 | +€394,202 | +48.1% |
| Equity | 10/15 | €179,381 | €70,608 | -€108,774 | -60.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €207,975 | €200,227 | -€7,748 | -3.7% |
| Tax-exempt reserves | 132 | €155,975 | €148,227 | -€7,748 | -5.0% |
| Distributable reserves | 133 | €52,000 | €52,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,594 | -€142,619 | -€101,026 | -243% |
| Provisions and deferred taxes | 16 | €51,699 | €49,116 | -€2,583 | -5.0% |
| Deferred taxes | 168 | €51,699 | €49,116 | -€2,583 | -5.0% |
| Amounts payable | 17/49 | €587,694 | €1,093,252 | +€505,558 | +86.0% |
| Amounts payable after more than one year | 17 | €0 | €1,090,114 | +€1.1m | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | - | €1,090,114 | +€1.1m | |
| Amounts payable within one year | 42/48 | €579,625 | €3,138 | -€576,487 | -99.5% |
| Current portion of amounts payable after more than one year | 42 | €24,834 | €0 | -€24,834 | -100% |
| Trade debts | 44 | €14,609 | €2,863 | -€11,745 | -80.4% |
| Suppliers | 440/4 | €14,609 | €2,863 | -€11,745 | -80.4% |
| Taxes, remuneration and social security | 45 | €0 | €274 | +€274 | |
| Taxes | 450/3 | €0 | €274 | +€274 | |
| Other amounts payable | 47/48 | €540,182 | €0 | -€540,182 | -100% |
| Accrued charges and deferred income | 492/3 | €8,069 | €0 | -€8,069 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,590 | €61,767 | +€14,177 | +29.8% |
| Other operating charges | 640/8 | €6,369 | €7,246 | +€877 | +13.8% |
| Gross operating margin | 9900 | -€26,888 | -€44,323 | -€17,435 | -64.8% |
| Operating profit (loss) | 9901 | -€80,848 | -€113,337 | -€32,489 | -40.2% |
| Financial income | 75/76B | €3,048 | €2,852 | -€196 | -6.4% |
| Recurring financial income | 75 | €3,048 | €2,852 | -€196 | -6.4% |
| Financial charges | 65/66B | €9,489 | €596 | -€8,893 | -93.7% |
| Recurring financial charges | 65 | €9,489 | €596 | -€8,893 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | -€87,289 | -€111,081 | -€23,792 | -27.3% |
| Transfer from deferred taxes | 780 | €2,583 | €2,583 | = | 0.0% |
| Income taxes | 67/77 | €246 | €275 | +€29 | +11.8% |
| Profit (loss) for the period | 9904 | -€84,952 | -€108,774 | -€23,821 | -28.0% |
| Transfer from tax-exempt reserves | 789 | €7,748 | €7,748 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,204 | -€101,026 | -€23,821 | -30.9% |
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 17 October 2026 via checked.be.