Vinster Media: 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.
Vinster Media
Largest movements
- Receivables within one year -€24,051
down €24,051 (-33.2%), from €72,371 to €48,320
of which Trade receivables: -€18,018
- Cash -€2,606
down €2,606 (-22.4%), from €11,607 to €9,001
mainly Contributions, distributions and other (-€26,666) and Investment in fixed assets (net) (-€7,236)
- Reserves -€20,634
down €20,634 (-28.4%), from €72,578 to €51,944
of which Distributable reserves: -€20,634
- Tax, wage and social debts -€4,456
down €4,456 (-43.6%), from €10,227 to €5,771
of which Taxes: -€4,106
- Short-term financial debts -€4,314
down €4,314 (-71.9%), from €6,000 to €1,686
- Current portion of long-term debt +€1,362
new in 2025: €1,362
- Gross operating margin -€10,506
down €10,506 (-37.8%), from €27,795 to €17,289
- Taxes -€4,376
down €4,376 (-62.0%), from €7,055 to €2,679
- Depreciation +€2,459
up €2,459 (+48.8%), from €5,035 to €7,494
- Financial income -€658
down €658 (-19.3%), from €3,408 to €2,750
- Other operating charges +€651
up €651 (+54.7%), from €1,191 to €1,843
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 | €102,117 | €74,184 | -€27,933 | -27.4% |
| Fixed assets | 21/28 | €11,842 | €11,584 | -€258 | -2.2% |
| Tangible fixed assets | 22/27 | €11,842 | €11,584 | -€258 | -2.2% |
| Land and buildings | 22 | - | €746 | +€746 | |
| Plant, machinery and equipment | 23 | €6,397 | €4,673 | -€1,724 | -26.9% |
| Furniture and vehicles | 24 | €5,445 | €6,165 | +€720 | +13.2% |
| Current assets | 29/58 | €90,275 | €62,601 | -€27,675 | -30.7% |
| Amounts receivable within one year | 40/41 | €72,371 | €48,320 | -€24,051 | -33.2% |
| Trade receivables | 40 | €23,785 | €5,767 | -€18,018 | -75.8% |
| Other amounts receivable | 41 | €48,586 | €42,553 | -€6,033 | -12.4% |
| Cash at bank and in hand | 54/58 | €11,607 | €9,001 | -€2,606 | -22.4% |
| Deferred charges and accrued income | 490/1 | €6,297 | €5,279 | -€1,018 | -16.2% |
| Total equity and liabilities | 10/49 | €102,117 | €74,184 | -€27,933 | -27.4% |
| Equity | 10/15 | €78,778 | €58,144 | -€20,634 | -26.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,578 | €51,944 | -€20,634 | -28.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,718 | €50,084 | -€20,634 | -29.2% |
| Amounts payable | 17/49 | €23,339 | €16,040 | -€7,299 | -31.3% |
| Amounts payable within one year | 42/48 | €23,339 | €16,040 | -€7,299 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | - | €1,362 | +€1,362 | |
| Financial debts | 43 | €6,000 | €1,686 | -€4,314 | -71.9% |
| Credit institutions | 430/8 | €6,000 | €1,686 | -€4,314 | -71.9% |
| Trade debts | 44 | €7,112 | €7,221 | +€109 | +1.5% |
| Suppliers | 440/4 | €7,112 | €7,221 | +€109 | +1.5% |
| Taxes, remuneration and social security | 45 | €10,227 | €5,771 | -€4,456 | -43.6% |
| Taxes | 450/3 | €8,977 | €4,871 | -€4,106 | -45.7% |
| Remuneration and social security | 454/9 | €1,250 | €900 | -€350 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,035 | €7,494 | +€2,459 | +48.8% |
| Other operating charges | 640/8 | €1,191 | €1,843 | +€651 | +54.7% |
| Gross operating margin | 9900 | €27,795 | €17,289 | -€10,506 | -37.8% |
| Operating profit (loss) | 9901 | €21,569 | €7,953 | -€13,616 | -63.1% |
| Financial income | 75/76B | €3,408 | €2,750 | -€658 | -19.3% |
| Recurring financial income | 75 | €3,408 | €2,750 | -€658 | -19.3% |
| Financial charges | 65/66B | €1,777 | €1,991 | +€214 | +12.0% |
| Recurring financial charges | 65 | €1,777 | €1,991 | +€214 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €23,200 | €8,711 | -€14,488 | -62.5% |
| Income taxes | 67/77 | €7,055 | €2,679 | -€4,376 | -62.0% |
| Profit (loss) for the period | 9904 | €16,144 | €6,032 | -€10,112 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,144 | €6,032 | -€10,112 | -62.6% |
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 30 October 2026 via checked.be.