Vinsus MD: 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.
Vinsus MD
Largest movements
- Current investments +€82,249
up €82,249 (+40.3%), from €203,952 to €286,201
- Tangible fixed assets +€61,705
up €61,705 (+84.2%), from €73,248 to €134,953
of which Land and buildings: +€76,371
- Deferred charges and accrued income +€39,571
up €39,571 (+51.7%), from €76,521 to €116,091
- Cash -€5,988
down €5,988 (-43.8%), from €13,672 to €7,684
mainly Contributions, distributions and other (-€180,000) and Current investments (-€82,249)
- Profit (loss) carried forward +€141,478
new in 2026: €141,478
- Reserves +€84,200
new in 2026: €84,200
- Tax, wage and social debts -€33,810
down €33,810 (-47.9%), from €70,592 to €36,782
of which Taxes: -€36,150
- Debts after one year -€12,791
down €12,791 (-85.6%), from €14,934 to €2,143
- Gross operating margin +€108,094
up €108,094 (+24.5%), from €442,083 to €550,177
- Taxes +€26,831
up €26,831 (+25.9%), from €103,472 to €130,303
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €367,768 | €545,479 | +€177,711 | +48.3% |
| Formation expenses | 20 | €375 | €110 | -€265 | -70.7% |
| Fixed assets | 21/28 | €73,248 | €134,953 | +€61,705 | +84.2% |
| Tangible fixed assets | 22/27 | €73,248 | €134,953 | +€61,705 | +84.2% |
| Land and buildings | 22 | €43,041 | €119,412 | +€76,371 | +177% |
| Plant, machinery and equipment | 23 | €6,909 | €5,284 | -€1,626 | -23.5% |
| Furniture and vehicles | 24 | €23,298 | €10,258 | -€13,040 | -56.0% |
| Current assets | 29/58 | €294,145 | €410,416 | +€116,270 | +39.5% |
| Amounts receivable within one year | 40/41 | - | €439 | +€439 | |
| Trade receivables | 40 | - | €439 | +€439 | |
| Current investments | 50/53 | €203,952 | €286,201 | +€82,249 | +40.3% |
| Cash at bank and in hand | 54/58 | €13,672 | €7,684 | -€5,988 | -43.8% |
| Deferred charges and accrued income | 490/1 | €76,521 | €116,091 | +€39,571 | +51.7% |
| Total equity and liabilities | 10/49 | €367,768 | €545,479 | +€177,711 | +48.3% |
| Equity | 10/15 | €2,500 | €228,178 | +€225,678 | +9,027% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €84,200 | +€84,200 | |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Profit (loss) carried forward | 14 | - | €141,478 | +€141,478 | |
| Amounts payable | 17/49 | €365,268 | €317,301 | -€47,968 | -13.1% |
| Amounts payable after more than one year | 17 | €14,934 | €2,143 | -€12,791 | -85.6% |
| Financial debts | 170/4 | €14,934 | €2,143 | -€12,791 | -85.6% |
| Amounts payable within one year | 42/48 | €350,334 | €315,157 | -€35,177 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €12,675 | €12,791 | +€116 | +0.9% |
| Financial debts | 43 | €320 | - | -€320 | |
| Credit institutions | 430/8 | €320 | - | -€320 | |
| Trade debts | 44 | €589 | €1,839 | +€1,250 | +212% |
| Suppliers | 440/4 | €589 | €1,839 | +€1,250 | +212% |
| Taxes, remuneration and social security | 45 | €70,592 | €36,782 | -€33,810 | -47.9% |
| Taxes | 450/3 | €70,592 | €34,442 | -€36,150 | -51.2% |
| Remuneration and social security | 454/9 | - | €2,340 | +€2,340 | |
| Other amounts payable | 47/48 | €266,159 | €263,746 | -€2,413 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,178 | €16,157 | -€5,021 | -23.7% |
| Other operating charges | 640/8 | €587 | €655 | +€69 | +11.7% |
| Gross operating margin | 9900 | €442,083 | €550,177 | +€108,094 | +24.5% |
| Operating profit (loss) | 9901 | €420,318 | €533,365 | +€113,047 | +26.9% |
| Financial income | 75/76B | €2,328 | €2,871 | +€543 | +23.3% |
| Recurring financial income | 75 | €2,328 | €2,871 | +€543 | +23.3% |
| Financial charges | 65/66B | €387 | €254 | -€133 | -34.3% |
| Recurring financial charges | 65 | €387 | €254 | -€133 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €422,258 | €535,981 | +€113,723 | +26.9% |
| Income taxes | 67/77 | €103,472 | €130,303 | +€26,831 | +25.9% |
| Profit (loss) for the period | 9904 | €318,786 | €405,678 | +€86,892 | +27.3% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €318,786 | €321,478 | +€2,692 | +0.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.